Registered number
06030520
Tarisio London Limited
Unaudited Filleted financial statements
31 December 2023
Tarisio London Limited
Registered number: 06030520
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 800 1,000
Investments 4 1,816,928 1,850,232
1,817,728 1,851,232
Current assets
Debtors 5 48,750 70,750
Cash at bank and in hand 1,366,425 1,080,993
1,415,175 1,151,743
Creditors: amounts falling due within one year 6 (314,463) (410,572)
Net current assets 1,100,712 741,171
Net assets 2,918,440 2,592,403
Capital and reserves
Called up share capital 1 1
Profit and loss account 2,918,439 2,592,402
Shareholders' funds 2,918,440 2,592,403
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr J Price
Director
Approved by the board on 29 August 2024
Tarisio London Limited
Notes to the financial statements
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Computer equipment Straight line 3 years
Plant and machinery Straight line 3 years
Fixtures, fittings, tools and equipment Straight line 3 years
Investments
Investments comprise holdings of antique stringed instruments and are measured at cost less any accumulated impairment losses. These items are held for resale. Changes in fair value arising from impairments are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 4
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2023 65,081 163,474 228,555
Disposals (65,081) (162,433) (227,514)
At 31 December 2023 - 1,041 1,041
Depreciation
At 1 January 2023 65,081 162,474 227,555
Charge for the year - 200 200
On disposals (65,081) (162,433) (227,514)
At 31 December 2023 - 241 241
Net book value
At 31 December 2023 - 800 800
At 31 December 2022 - 1,000 1,000
4 Investments
Other
investments
£
Cost
At 1 January 2023 1,850,232
Disposals (33,304)
At 31 December 2023 1,816,928
5 Debtors 2023 2022
£ £
Prepayments 48,750 70,750
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 140,000 86,648
Amounts owed to group undertakings and undertakings in which the company has a participating interest - 21,902
Taxation and social security costs 141,045 254,842
Accruals 29,350 26,650
Other creditors 4,068 20,530
314,463 410,572
7 Other information
Tarisio London Limited is a private company limited by shares and incorporated in England. Its registered office is:
2nd Floor
10-12 Bourlet Close
London
W1W 7BR
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