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REGISTERED NUMBER: 06702488 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

Tamar Electronics Limited

Tamar Electronics Limited (Registered number: 06702488)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


Tamar Electronics Limited

COMPANY INFORMATION
for the year ended 31 March 2024







Directors: N Lewis
Mrs Y Lewis





Registered office: Abacus House
129 North Hill
Plymouth
Devon
PL4 8JY





Business address: Unit 7
Stowford Business Park
Ivybridge
Devon
PL21 0BE





Registered number: 06702488 (England and Wales)





Accountants: Nigel Webster & Co
129 North Hill
Plymouth
Devon
PL4 8JY

Tamar Electronics Limited (Registered number: 06702488)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 7,646 8,092

Current assets
Stocks 6,721 5,715
Debtors 5 1,072 5,458
7,793 11,173
Creditors
Amounts falling due within one year 6 44,573 43,508
Net current liabilities (36,780 ) (32,335 )
Total assets less current liabilities (29,134 ) (24,243 )

Creditors
Amounts falling due after more than
one year

7

(3,987

)

(5,947

)

Provisions for liabilities 10 - (1,300 )
Net liabilities (33,121 ) (31,490 )

Capital and reserves
Called up share capital 11 10 10
Retained earnings (33,131 ) (31,500 )
Shareholders' funds (33,121 ) (31,490 )

Tamar Electronics Limited (Registered number: 06702488)

BALANCE SHEET - continued
31 March 2024


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.

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 and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 October 2024 and were signed on its behalf by:





N Lewis - Director


Tamar Electronics Limited (Registered number: 06702488)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Tamar Electronics Limited is a private company, limited by shares, registered in England and Wales. The company's registered number, business address 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 represents the value of services provided under contracts net of value added tax, to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date, turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

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:

Equipment - 15% to 50% reducing balance

Stocks
Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in, first out basis. Net realisable value represents estimated selling price less costs required to sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

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.

Tamar Electronics Limited (Registered number: 06702488)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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

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.

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Equipment
£   
Cost
At 1 April 2023 61,446
Additions 834
At 31 March 2024 62,280
Depreciation
At 1 April 2023 53,354
Charge for year 1,280
At 31 March 2024 54,634
Net book value
At 31 March 2024 7,646
At 31 March 2023 8,092

Tamar Electronics Limited (Registered number: 06702488)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,072 1,727
Other debtors - 3,731
1,072 5,458

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,718 9,470
Taxation and social security 1,316 1,543
Other creditors 32,539 32,495
44,573 43,508

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 3,987 5,947

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 9,000 9,000
Between one and five years 6,000 15,000
15,000 24,000

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 5,654 7,614

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax - 1,300

Tamar Electronics Limited (Registered number: 06702488)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 1,300
Provided during year (1,300 )
Balance at 31 March 2024 -

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10 Ordinary £1 10 10

12. RELATED PARTY DISCLOSURES

At the balance sheet date, the director, N Lewis, was owed £31,056 by the company.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is N Lewis.