Registered number
10330014
Tavern Estates Ltd
Filleted Accounts
31 January 2024
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.
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