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REGISTERED NUMBER: 09778504 (England and Wales)














TANDEM FINANCIAL LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






TANDEM FINANCIAL LTD (REGISTERED NUMBER: 09778504)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


TANDEM FINANCIAL LTD

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: P A Cleworth
Mrs A Cleworth





REGISTERED OFFICE: The Barn, Green Farm
Bendish
Hitchin
Hertfordshire
SG4 8JD





REGISTERED NUMBER: 09778504 (England and Wales)





ACCOUNTANTS: Miller & Co
Chartered Accountants
5 Imperial Court
Laporte Way
Luton
Bedfordshire
LU4 8FE

TANDEM FINANCIAL LTD (REGISTERED NUMBER: 09778504)

STATEMENT OF FINANCIAL POSITION
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 107,272 156,782
Tangible assets 6 557,177 553,380
Investments 7 114,890 45,767
779,339 755,929

CURRENT ASSETS
Debtors 8 156,353 108,272
Cash at bank 422,959 525,558
579,312 633,830
CREDITORS
Amounts falling due within one year 9 191,199 140,292
NET CURRENT ASSETS 388,113 493,538
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,167,452

1,249,467

PROVISIONS FOR LIABILITIES 44,425 19,731
NET ASSETS 1,123,027 1,229,736

CAPITAL AND RESERVES
Called up, paid and allotted share capital 10,000 10,000
Share premium 630,346 630,346
Retained earnings 482,681 589,390
SHAREHOLDERS' FUNDS 1,123,027 1,229,736

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

TANDEM FINANCIAL LTD (REGISTERED NUMBER: 09778504)

STATEMENT OF FINANCIAL POSITION - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 October 2024 and were signed on its behalf by:





P A Cleworth - Director


TANDEM FINANCIAL LTD (REGISTERED NUMBER: 09778504)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Tandem Financial Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling, rounded to the nearest pound.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Income recognition
Income is recognised when services have been delivered to customers such that risks and rewards of ownership have transferred to them.

Goodwill
Goodwill is being amortised evenly over its estimated useful life of 10 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - over the lease term
Plant and machinery - at varying rates
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

TANDEM FINANCIAL LTD (REGISTERED NUMBER: 09778504)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Investments are recognised initially at cost which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 4 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 495,102
AMORTISATION
At 1 April 2023 338,320
Amortisation for year 49,510
At 31 March 2024 387,830
NET BOOK VALUE
At 31 March 2024 107,272
At 31 March 2023 156,782

6. TANGIBLE FIXED ASSETS
Long Plant and Motor Computer
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 691,558 31,477 95,175 32,709 850,919
Additions - 99,247 6,545 9,866 115,658
At 31 March 2024 691,558 130,724 101,720 42,575 966,577
DEPRECIATION
At 1 April 2023 242,024 17,452 11,874 26,189 297,539
Charge for year 70,057 12,843 22,461 6,500 111,861
At 31 March 2024 312,081 30,295 34,335 32,689 409,400
NET BOOK VALUE
At 31 March 2024 379,477 100,429 67,385 9,886 557,177
At 31 March 2023 449,534 14,025 83,301 6,520 553,380

TANDEM FINANCIAL LTD (REGISTERED NUMBER: 09778504)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

7. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2024 2023
£    £   
Investment wine 40,349 15,433
GIA account 74,541 30,334
114,890 45,767

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 156,353 108,272

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 181,987 129,674
Other creditors 9,212 10,618
191,199 140,292

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 6,000 6,000
Between one and five years 20,500 26,500
26,500 32,500

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
P A Cleworth
Balance outstanding at start of year 9,588 98,725
Amounts advanced 39,996 -
Amounts repaid (9,588 ) (89,137 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 39,996 9,588

TANDEM FINANCIAL LTD (REGISTERED NUMBER: 09778504)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mrs A Cleworth
Balance outstanding at start of year 3,664 41,389
Amounts repaid (3,664 ) (37,725 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 3,664