Tanak International Limited 03952481 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of computer consultancy services Digita Accounts Production Advanced 6.30.9574.0 true true false false 03952481 2023-04-01 2024-03-31 03952481 2024-03-31 03952481 core:RetainedEarningsAccumulatedLosses 2024-03-31 03952481 core:ShareCapital 2024-03-31 03952481 core:CurrentFinancialInstruments 2024-03-31 03952481 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 03952481 core:Non-currentFinancialInstruments 2024-03-31 03952481 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 03952481 core:OfficeEquipment 2024-03-31 03952481 bus:SmallEntities 2023-04-01 2024-03-31 03952481 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 03952481 bus:FilletedAccounts 2023-04-01 2024-03-31 03952481 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 03952481 bus:RegisteredOffice 2023-04-01 2024-03-31 03952481 bus:CompanySecretaryDirector1 2023-04-01 2024-03-31 03952481 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03952481 core:OfficeEquipment 2023-04-01 2024-03-31 03952481 core:Subsidiary1 2023-04-01 2024-03-31 03952481 core:Subsidiary1 1 2023-04-01 2024-03-31 03952481 countries:EnglandWales 2023-04-01 2024-03-31 03952481 2023-03-31 03952481 core:CostValuation 2023-03-31 03952481 core:OfficeEquipment 2023-03-31 03952481 2022-04-01 2023-03-31 03952481 2023-03-31 03952481 core:RetainedEarningsAccumulatedLosses 2023-03-31 03952481 core:ShareCapital 2023-03-31 03952481 core:CurrentFinancialInstruments 2023-03-31 03952481 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 03952481 core:Non-currentFinancialInstruments 2023-03-31 03952481 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 03952481 core:OfficeEquipment 2023-03-31 03952481 core:Subsidiary1 1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 03952481

Tanak International Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Tanak International Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Tanak International Limited

Company Information

Director

P Duvin

Company secretary

P Duvin

Registered office

1-2 Rhodium Point
Spindle Close
Hawkinge
Folkestone
Kent
CT18 7TQ

 

Tanak International Limited

(Registration number: 03952481)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

481

1,729

Investments

5

1,377

1,377

 

1,858

3,106

Current assets

 

Debtors

6

8,494

8,495

Cash at bank and in hand

 

28,888

22,944

 

37,382

31,439

Creditors: Amounts falling due within one year

7

(21,082)

(17,839)

Net current assets

 

16,300

13,600

Total assets less current liabilities

 

18,158

16,706

Creditors: Amounts falling due after more than one year

7

(2,500)

(4,500)

Net assets

 

15,658

12,206

Capital and reserves

 

Called up share capital

1

1

Retained earnings

15,657

12,205

Shareholders' funds

 

15,658

12,206

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Tanak International Limited

(Registration number: 03952481)
Balance Sheet as at 31 March 2024 (continued)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 26 November 2024
 

......................................
P Duvin
Company secretary and director

   
     
 

Tanak International Limited

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

1

General information

Tanak International Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 03952481 and the registered office address is as follows:-

1-2 Rhodium Point
Spindle Close
Hawkinge
Folkestone
Kent
CT18 7TQ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest pound.

Going concern

The financial statements have been prepared on a going concern basis and there are no material uncertainties that cast significant doubt on the Company's ability to continue as a going concern,

 

Tanak International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Judgements

No judgements have been made in the process of applying the accounting policies that have had a significant effect on the amounts recognised in the financial statements. No key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year have been made.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in
accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of turnover can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Finance income and costs policy

Interest income is recognised in profit or loss using the effective interest method.

Finance costs are charged to profit or loss 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.

All borrowing costs are recognised in profit or loss in the year they are incurred.

Foreign currency transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when the fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at exchange period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.



 

Tanak International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% Straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Tanak International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Tanak International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 April 2023

7,341

7,341

At 31 March 2024

7,341

7,341

Depreciation

At 1 April 2023

5,612

5,612

Charge for the year

1,248

1,248

At 31 March 2024

6,860

6,860

Carrying amount

At 31 March 2024

481

481

At 31 March 2023

1,729

1,729

5

Investments

2024
£

2023
£

Investments in subsidiaries

1,377

1,377

Subsidiaries

£

Cost or valuation

At 1 April 2023

1,377

Provision

Carrying amount

At 31 March 2024

1,377

At 31 March 2023

1,377

 

Tanak International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

5

Investments (continued)

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

Tanak Madagascar Ltd

71%

71%

6

Debtors

Current

2024
£

2023
£

Other debtors

8,494

8,495

 

8,494

8,495

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

16,602

13,258

Accruals and deferred income

 

2,196

2,133

Other creditors

 

2,284

2,448

 

21,082

17,839

The company has received an unsecured loan under UK Government Bounce Back Scheme which has the financial backing of the Secretary of State for Business, Energy and Industrial Strategy.

Repayments commenced in July 2021. Interest charged for the first twelve months was covered by the UK Government.

 

Tanak International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

7

Creditors (continued)

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

2,500

4,500

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

2,500

4,500

Current loans and borrowings

2024
£

2023
£

Bank borrowings

2,000

2,000

Directors current account

14,602

11,258

16,602

13,258