Company registration number 12920587 (England and Wales)
TACOPARTY LTD
ANNUAL REPORT AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
TACOPARTY LTD
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
TACOPARTY LTD
BALANCE SHEET
- 1 -
2023
2022
as restated
Notes
£
£
£
£
Current assets
Debtors
3
246,092
(45,121)
Cash at bank and in hand
56,211
113,478
302,303
68,357
Creditors: amounts falling due within one year
4
(215,690)
(20,278)
Net current assets
86,613
48,079
Creditors: amounts falling due after more than one year
5
(5,700)
Provisions for liabilities
(16,013)
Net assets
86,613
26,366
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
86,513
26,266
Total equity
86,613
26,366
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 30 October 2024
Mr S D Edgson
Director
Company registration number 12920587 (England and Wales)
TACOPARTY LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2023
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
As restated for the period ended 31 July 2022:
Balance at 1 November 2021
100
(1,090)
(990)
Year ended 31 July 2022:
Profit and total comprehensive income
-
27,356
27,356
Balance at 31 July 2022
100
26,266
26,366
Year ended 31 July 2023:
Profit and total comprehensive income
-
60,247
60,247
Balance at 31 July 2023
100
86,513
86,613
TACOPARTY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 3 -
1
Accounting policies
Company information
Tacoparty Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Highfield Lodge, 6 Wing Lane, Pilton, Oakham Rutland, LE15 9NR.
1.1
Basis of preparation
These financial statements have been prepared in accordance with applicable accounting standards including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
1.2
Going concern
The company meets its day to day working capital requirements via funding from related group companies. The related companies have given assurances that they will continue to support the company by such means and that they will not call on these loans until the company has sufficient financial resources to pay them. On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of support by the related companies.true
1.3
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, net of VAT. Turnover comprises the sale of food and beverages and is recognised at the point of sale.
1.4
Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Debtors and creditors with no stated interest rate and receivable or payable within one year are measured at transaction price. Any losses arising from impairment are recognised in the profit and loss account.
1.5
Provisions
Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
1.6
Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
1.7
Leases
TACOPARTY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 4 -
Rentals payable under operating leases, including any lease incentives received, are charged to the profit and loss account on a straight line basis over the term of the relevant lease.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
(45,121)
Other debtors
246,092
246,092
(45,121)
4
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
20,278
Amounts owed to group undertakings
184,340
Other creditors
31,350
215,690
20,278
5
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
5,700
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
TACOPARTY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 5 -
7
Audit report information
As the profit and loss account has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was qualified and the auditor reported as follows:
We have audited the financial statements of Tacoparty Ltd (the 'company') for the year ended 31 July 2023 which comprise , the Balance Sheet, the Statement of Changes in Equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, except for the possible effects of the matter described in the Basis for qualified opinion paragraph, the financial statements:
give a true and fair view of the state of the company's affairs as at 31 July 2023 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for qualified opinion
The accounts for the 31 July 2022 year end were unaudited due to exemption under section 477 of Companies Act 2006. We were unable to obtain sufficient information to satisfy ourselves concerning the opening balances for debtors, creditors and provisions as at 31 July 2022. We were unable to satisfy ourselves by alternative audit procedures as to debtors (£(45,121)), creditors (£25,978) and provisions (£16,013). Consequently, we were unable to determine whether any adjustment to these amounts was necessary.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Senior Statutory Auditor:
John Griffin FCCA
Statutory Auditor:
Newby Castleman LLP
Date of audit report:
30 October 2024
8
Parent company
The parent undertaking for which consolidated accounts are prepared is El Pastor Ltd, a company registered in England and Wales. Consolidated accounts are publicly available from Companies House, Cardiff.
The registered address of El Pastor Ltd is the same as the company's registered office address as given in the company information page of these financial statements.
9
Prior period adjustment
The prior period adjustment relates to a restatement of the profit and loss account and balance sheet figures for the year ended 31 July 2022.
TACOPARTY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
9
Prior period adjustment
(Continued)
- 6 -
Changes to the balance sheet
As previously reported
Adjustment
As restated at 31 Jul 2022
£
£
£
Current assets
Debtors due within one year
41,594
(86,715)
(45,121)
Bank and cash
113,478
113,478
Net assets
(397)
26,763
26,366
Capital and reserves
Profit and loss reserves
(497)
26,763
26,266
Changes to the profit and loss account
As previously reported
Adjustment
As restated
Period ended 31 July 2022
£
£
£
Other operating income
-
26,763
26,763
Profit for the financial period
593
26,763
27,356
Reconciliation of changes in equity
1 November
31 July
2021
2022
£
£
Adjustments to prior year
Profit and loss reserves
26,763
Equity as previously reported
(990)
(397)
Equity as adjusted
(990)
26,366
Analysis of the effect upon equity
Profit and loss reserves
26,763
Reconciliation of changes in profit for the previous financial period
2022
£
Adjustments to prior year
Profit and loss reserves
26,763
Profit as previously reported
593
Profit as adjusted
27,356