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Company No: 02264042 (England and Wales)

TARKER LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

TARKER LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

TARKER LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
TARKER LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
2024 2023
£ £
Current assets
Stocks 45,969 45,969
Debtors 3 3,615,699 3,447,607
Cash at bank and in hand 13,508 42,246
3,675,176 3,535,822
Creditors: amounts falling due within one year 4 ( 45,581) ( 32,976)
Net current assets 3,629,595 3,502,846
Total assets less current liabilities 3,629,595 3,502,846
Net assets 3,629,595 3,502,846
Capital and reserves
Called-up share capital 5 100 100
Capital redemption reserve 1,161,698 1,161,698
Profit and loss account 2,467,797 2,341,048
Total shareholders' funds 3,629,595 3,502,846

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Tarker Limited (registered number: 02264042) were approved and authorised for issue by the Board of Directors on 16 October 2024. They were signed on its behalf by:

Andrew Edward Browne
Director
TARKER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
TARKER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Tarker Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2nd Floor Stratus House Emperor Way, Exeter Business Park, Exeter, EX1 3QS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Debtors

2024 2023
£ £
Prepayments 49 49
VAT recoverable 0 120
Other debtors 3,615,650 3,447,438
3,615,699 3,447,607

4. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 836 446
Accruals and deferred income 2,482 2,138
Corporation tax 42,250 30,392
Other taxation and social security 13 0
45,581 32,976

5. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
49 Ordinary A shares of £ 1.00 each 49 49
51 Ordinary B shares of £ 1.00 each 51 51
100 100

6. Related party transactions

Transactions with owners holding a participating interest in the entity

2024 2023
£ £
M Baker (Property Services) Limited 3,615,650 3,447,438

At the year end, M. Baker (Property Services) Limited, a company in which the Estate of Mr M T Baker, a shareholder, has a beneficial interest, owed £3,615,650 (2023: £3,447,438) to the company. During the year £172,174 (2023: £164,164) interest was charged on this loan at a rate of 5%.