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Company No: 08290944 (England and Wales)

THE REALLY INTERESTING TENT COMPANY LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2023
Pages for filing with the registrar

THE REALLY INTERESTING TENT COMPANY LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2023

Contents

THE REALLY INTERESTING TENT COMPANY LIMITED

COMPANY INFORMATION

For the financial year ended 30 November 2023
THE REALLY INTERESTING TENT COMPANY LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 November 2023
DIRECTORS RC Miller
DE Miller
REGISTERED OFFICE Wey Court West
Union Road Farnham
Surrey
GU9 7PT
United Kingdom
COMPANY NUMBER 08290944 (England and Wales)
ACCOUNTANT Shaw Gibbs Limited
Wey Court West
Union Road
Farnham
Surrey
GU9 7PT
THE REALLY INTERESTING TENT COMPANY LIMITED

BALANCE SHEET

As at 30 November 2023
THE REALLY INTERESTING TENT COMPANY LIMITED

BALANCE SHEET (continued)

As at 30 November 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 8,825 12,062
8,825 12,062
Current assets
Stocks 5 31,076 35,157
Debtors 6 2,524 2,226
Cash at bank and in hand 1,340 817
34,940 38,200
Creditors: amounts falling due within one year 7 ( 28,033) ( 26,791)
Net current assets 6,907 11,409
Total assets less current liabilities 15,732 23,471
Creditors: amounts falling due after more than one year 8 ( 2,665) ( 10,164)
Provision for liabilities 9 ( 980) ( 2,099)
Net assets 12,087 11,208
Capital and reserves
Called-up share capital 1 1
Profit and loss account 12,086 11,207
Total shareholder's funds 12,087 11,208

For the financial year ending 30 November 2023 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 The Really Interesting Tent Company Limited (registered number: 08290944) were approved and authorised for issue by the Board of Directors on 26 November 2024. They were signed on its behalf by:

RC Miller
Director
THE REALLY INTERESTING TENT COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
THE REALLY INTERESTING TENT COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
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

The Really Interesting Tent Company 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 Wey Court West, Union Road Farnham, Surrey, GU9 7PT, 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 stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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 Balance Sheet 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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Other property, plant and equipment 5 years straight line
Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

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.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 December 2022 5,000 5,000
At 30 November 2023 5,000 5,000
Accumulated amortisation
At 01 December 2022 5,000 5,000
At 30 November 2023 5,000 5,000
Net book value
At 30 November 2023 0 0
At 30 November 2022 0 0

4. Tangible assets

Plant and machinery Vehicles Other property, plant
and equipment
Total
£ £ £ £
Cost
At 01 December 2022 10,692 19,721 3,898 34,311
At 30 November 2023 10,692 19,721 3,898 34,311
Accumulated depreciation
At 01 December 2022 7,981 11,401 2,867 22,249
Charge for the financial year 678 2,080 479 3,237
At 30 November 2023 8,659 13,481 3,346 25,486
Net book value
At 30 November 2023 2,033 6,240 552 8,825
At 30 November 2022 2,711 8,320 1,031 12,062

5. Stocks

2023 2022
£ £
Stocks 28,876 32,957
Work in progress 2,200 2,200
31,076 35,157

6. Debtors

2023 2022
£ £
Trade debtors 0 51
Prepayments 0 783
VAT recoverable 2,524 0
Other debtors 0 1,392
2,524 2,226

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 4,792 4,792
Trade creditors 1,537 1,537
Amounts owed to directors 1,169 0
Accruals 1,829 1,705
Corporation tax 2,445 1,742
Other taxation and social security 0 483
Obligations under finance leases and hire purchase contracts 2,955 3,226
Other creditors 13,306 13,306
28,033 26,791

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 2,665 7,209
Obligations under finance leases and hire purchase contracts 0 2,955
2,665 10,164

9. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 2,099) ( 364)
Credited/(charged) to the Statement of Income and Retained Earnings 1,119 ( 1,735)
At the end of financial year ( 980) ( 2,099)