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REGISTERED NUMBER: SC222547 (Scotland)












Financial Statements for the Year Ended 31 March 2024

for

TABASS LTD

TABASS LTD (REGISTERED NUMBER: SC222547)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TABASS LTD

Company Information
for the Year Ended 31 March 2024







DIRECTOR: S M Taylor





REGISTERED OFFICE: 17 Viewfield Gardens
Aberdeen
AB15 7XN





REGISTERED NUMBER: SC222547 (Scotland)





ACCOUNTANTS: Account Tax Ltd
Chartered Certified Accountants
12 Traill Drive
Montrose
Angus
DD10 8SW

TABASS LTD (REGISTERED NUMBER: SC222547)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 771,830 771,830
Investments 5 212,303 221,615
984,133 993,445

CURRENT ASSETS
Debtors 6 12,000 12,000
Cash at bank 10,868 7,564
22,868 19,564
CREDITORS
Amounts falling due within one year 7 929,969 958,704
NET CURRENT LIABILITIES (907,101 ) (939,140 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

77,032

54,305

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 76,932 54,205
SHAREHOLDERS' FUNDS 77,032 54,305

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 director acknowledges his 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.

TABASS LTD (REGISTERED NUMBER: SC222547)

Balance Sheet - 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 October 2024 and were signed by:





S M Taylor - Director


TABASS LTD (REGISTERED NUMBER: SC222547)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Tabass Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

TABASS LTD (REGISTERED NUMBER: SC222547)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 April 2023
and 31 March 2024 771,830
NET BOOK VALUE
At 31 March 2024 771,830
At 31 March 2023 771,830

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023 221,615
Additions 12,878
Disposals (31,472 )
Share of profit/(loss) 9,282
At 31 March 2024 212,303
NET BOOK VALUE
At 31 March 2024 212,303
At 31 March 2023 221,615

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 12,000 12,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 2,519 2,284
Other creditors 927,450 956,420
929,969 958,704

TABASS LTD (REGISTERED NUMBER: SC222547)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. RELATED PARTY DISCLOSURES

The company was under the control of S M Taylor, the director, throughout the current and previous year.

Loans 1,2, 3, 4, 5, 6 & 7 were repaid in previous years.

Loan 8
As at 31 March 2024, included within other creditors, is a balance outstanding due to the director of £193,000 (2023 - £200,000). Interest of 0.75% per annum has been paid on this loan.

Loans 9 & 10 were repaid in earlier years.

Loan 11
As at 31 March 2024, included within other creditors, is a balance outstanding due to the director of £27,000 (2023 - £49,000). No interest has been charged on this loan.

Loans 12 & 13
As at 31 March 2024, included within other creditors, is a balance outstanding due to the director of £160,000 (2023 - £160,000). No interest has been charged on this loan

Loans 14, 15 were repaid in earlier year.

Loans 16 & 17
As at 31 March 2024, included within other creditors, is a balance outstanding due to the director of £125,000 (2023 - £125,000). No interest has been charged on this loan.

Loans 18 & 19
As at 31 March 2024, included within other creditors, is a balance outstanding due to the director of £100,000 (2023 - £100,000). No interest has been charged on this loan.

Loan 20
As at 31 March 2024 included within other creditors is a balance outstanding due to the director of £50,000 (2023 - £50,000). No interest has been charged on this loan.

Loan 21
As at 31 March 2024 included within other creditors is a balance outstanding due to the director of £51,000 (2023 - £51,000). No interest has been charged on this loan.

Loan 22
As at 31 March 2024 included within other creditors is a balance outstanding due to the director of £25,000 (2023 - £25,000). No interest has been charged on this loan.

Loan 23
As at 31 March 2024 included within other creditors is a balance outstanding due to the director of £47,000 (2023 - £47,000). No interest has been charged on this loan.

Loan 24 were repaid in previous years.

Loan 25
As at 31 March 2024 included in other creditors is a balance outstanding due to the director of £114,000 (2023 - £114,000). No interest has been charged on this loan.

Loan 26 was repaid in previous years.

Loan 27

TABASS LTD (REGISTERED NUMBER: SC222547)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
As at 31 March 2024 included in other creditors is a balance outstanding due to the director of £15,000 (2023 - £15,000). No interest has been charged on this loan.

Loan 28 & 29 was repaid in previous years.

Loan 30
During the year the director advanced the company £15,000. This was subsequently repaid in full.

Loan 31
As at 31 March 2024 included in other creditors is a balance outstanding due to the director of £20,000 (2023 - £20,000). No interest has been charged on this loan.