Tavern Estates Ltd |
Registered number: |
10330014 |
Balance Sheet |
as at 31 January 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Fixed assets |
Investment property |
3 |
|
|
650,000 |
|
|
650,000 |
Investments |
4 |
|
|
1 |
|
|
1 |
|
|
|
|
650,001 |
|
|
650,001 |
|
Current assets |
Debtors |
5 |
|
625,552 |
|
|
819,368 |
Cash at bank and in hand |
|
|
116 |
|
|
192 |
|
|
|
625,668 |
|
|
819,560 |
|
Creditors: amounts falling due within one year |
6 |
|
(237,228) |
|
|
(71,862) |
|
Net current assets |
|
|
|
388,440 |
|
|
747,698 |
|
Total assets less current liabilities |
|
|
|
1,038,441 |
|
|
1,397,699 |
|
Creditors: amounts falling due after more than one year |
7 |
|
|
- |
|
|
(390,000) |
|
Provisions for liabilities |
|
|
|
(25,598) |
|
|
(25,598) |
|
|
Net assets |
|
|
|
1,012,843 |
|
|
982,101 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
1 |
|
|
1 |
Other reserves |
9 |
|
|
109,127 |
|
|
109,127 |
Profit and loss account |
|
|
|
903,715 |
|
|
872,973 |
|
Shareholder's funds |
|
|
|
1,012,843 |
|
|
982,101 |
|
|
|
|
|
|
|
|
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
J Friedman |
Director |
Approved by the board on 13 January 2025 |
|
Tavern Estates Ltd |
Notes to the Accounts |
for the year ended 31 January 2024 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
|
|
Taxation |
|
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 as the amount of tax payable using 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 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 timing differences. |
|
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. |
|
|
Investment property |
|
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
|
|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
3 |
Investment property |
|
|
|
|
|
|
|
|
Land and buildings |
£ |
|
Cost |
|
At 1 February 2023 |
650,000 |
|
At 31 January 2024 |
650,000 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 January 2024 |
- |
|
|
|
|
|
|
|
|
|
|
Fair value and net book value: |
|
At 31 January 2024 |
650,000 |
|
At 31 January 2023 |
650,000 |
|
|
The fair value of the investment property has been arrived at on the basis of a valuation carried out at the year end by the director. The valuation was made on an open market basis by reference to market evidence of transaction prices for similar properties. |
|
|
4 |
Investments |
Investments in |
subsidiary |
undertakings |
£ |
|
Cost |
|
At 1 February 2023 |
1 |
|
|
At 31 January 2024 |
1 |
|
|
5 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Trade debtors |
3,904 |
|
6,475 |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
507,120 |
|
504,107 |
|
Other debtors |
114,528 |
|
308,786 |
|
|
|
|
|
|
625,552 |
|
819,368 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Trade creditors |
12,676 |
|
12,247 |
|
Taxation and social security costs |
2,794 |
|
- |
|
Other creditors |
221,758 |
|
59,615 |
|
|
|
|
|
|
237,228 |
|
71,862 |
|
|
|
|
|
|
|
|
|
|
7 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
£ |
£ |
|
|
Bank loans |
- |
|
390,000 |
|
|
|
|
|
|
|
|
|
|
|
8 |
Loans |
2024 |
|
2023 |
£ |
£ |
|
Creditors include: |
|
Amounts payable otherwise than by instalment falling due for payment after more than five years |
|
- |
|
390,000 |
|
|
|
|
|
|
|
|
|
|
9 |
Revaluation reserve |
2024 |
|
2023 |
£ |
£ |
|
|
At 1 February 2023 |
109,127 |
|
109,127 |
|
|
At 31 January 2024 |
109,127 |
|
109,127 |
|
|
|
|
|
|
|
|
|
|
10 |
Other information |
|
|
Tavern Estates Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
16c Urban Hive |
|
Theydon Road |
|
London |
|
E5 9BQ |
|
|
10 |
Related party disclosure |
|
|
Included within other creditors is an amount of £169,508 (2023: £304,286 debtor) due to Bellview Estates Ltd, a company in which J Friedman has a material interest. |
|
Also included within other debtors is an amount of £Nil (2023: £4,500) due from Bellview Housing Ltd, a company in which J Friedman has a material interest. |
|
There are no terms as to interest or repayment in respect of the above loans. |