Silverfin false false 30/04/2024 01/05/2023 30/04/2024 M Dunn 02/08/2019 A Picton 02/08/2019 P D Tully 20/06/2019 D White 02/08/2019 22 January 2025 The principal activity of the Company during the year was that of a holding company. 01912122 2024-04-30 01912122 bus:Director1 2024-04-30 01912122 bus:Director2 2024-04-30 01912122 bus:Director3 2024-04-30 01912122 bus:Director4 2024-04-30 01912122 2023-04-30 01912122 core:CurrentFinancialInstruments 2024-04-30 01912122 core:CurrentFinancialInstruments 2023-04-30 01912122 core:ShareCapital 2024-04-30 01912122 core:ShareCapital 2023-04-30 01912122 core:RetainedEarningsAccumulatedLosses 2024-04-30 01912122 core:RetainedEarningsAccumulatedLosses 2023-04-30 01912122 core:FurnitureFittings 2023-04-30 01912122 core:FurnitureFittings 2024-04-30 01912122 core:CostValuation 2023-04-30 01912122 core:CostValuation 2024-04-30 01912122 core:WithinOneYear 2024-04-30 01912122 core:WithinOneYear 2023-04-30 01912122 core:BetweenOneFiveYears 2024-04-30 01912122 core:BetweenOneFiveYears 2023-04-30 01912122 2023-05-01 2024-04-30 01912122 bus:FilletedAccounts 2023-05-01 2024-04-30 01912122 bus:SmallEntities 2023-05-01 2024-04-30 01912122 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 01912122 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 01912122 bus:Director1 2023-05-01 2024-04-30 01912122 bus:Director2 2023-05-01 2024-04-30 01912122 bus:Director3 2023-05-01 2024-04-30 01912122 bus:Director4 2023-05-01 2024-04-30 01912122 core:FurnitureFittings core:TopRangeValue 2023-05-01 2024-04-30 01912122 2022-05-01 2023-04-30 01912122 core:FurnitureFittings 2023-05-01 2024-04-30 01912122 core:CurrentFinancialInstruments 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Company No: 01912122 (England and Wales)

TULLY DE'ATH LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

TULLY DE'ATH LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

TULLY DE'ATH LIMITED

COMPANY INFORMATION

For the financial year ended 30 April 2024
TULLY DE'ATH LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2024
DIRECTORS M Dunn
A Picton
P D Tully
D White
REGISTERED OFFICE Sheridan House
Hartfield Road
Forest Row
East Sussex
Sussex
RH18 5EA
United Kingdom
COMPANY NUMBER 01912122 (England and Wales)
ACCOUNTANT Evelyn Partners (South East) Limited
Brockbourne House
77 Mount Ephraim
Royal Tunbridge Wells
TN4 8BS
TULLY DE'ATH LIMITED

BALANCE SHEET

As at 30 April 2024
TULLY DE'ATH LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 14,515 27,382
Investments 4 100 100
14,615 27,482
Current assets
Debtors 5 448,791 347,878
Cash at bank and in hand 34,613 92,033
483,404 439,911
Creditors: amounts falling due within one year 6 ( 178,715) ( 201,037)
Net current assets 304,689 238,874
Total assets less current liabilities 319,304 266,356
Provision for liabilities ( 1,341) ( 1,341)
Net assets 317,963 265,015
Capital and reserves
Called-up share capital 10,000 10,000
Profit and loss account 307,963 255,015
Total shareholders' funds 317,963 265,015

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Tully De'ath Limited (registered number: 01912122) were approved and authorised for issue by the Board of Directors on 22 January 2025. They were signed on its behalf by:

D White
Director
TULLY DE'ATH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
TULLY DE'ATH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
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

Tully De'ath Limited (the Company) is a private company, limited by shares, incorporated and registered in the United Kingdom under the Companies Act 2006 . The address of the Company's registered office is Sheridan House, Hartfield Road, Forest Row, East Sussex, Sussex, RH18 5EA, 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 ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Tully De'ath Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Going concern

The financial statements have been prepared on a going concern basis.

The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

Turnover

Turnover comprises revenue recognised by the Company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

Turnover is recognised at the end of each month to which it relates.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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 enacted or substantively enacted 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. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

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:

Fixtures and fittings 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Fixed asset investments

Investments in subsidiaries are measured at cost less accumulated impairment.

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.

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.

Employee Benefit Trust

In 2019, the majority ownership of the Company was transferred to an 'Employee Benefit Trust' (EBT). During the year, the Company made no payments to the EBT (2023: £nil) which are shown as distributions from reserves within the Statement of Changes in Equity.

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 30 36

3. Tangible assets

Fixtures and fittings Total
£ £
Cost
At 01 May 2023 702,559 702,559
Additions 203 203
Disposals ( 1,390) ( 1,390)
At 30 April 2024 701,372 701,372
Accumulated depreciation
At 01 May 2023 675,177 675,177
Charge for the financial year 13,070 13,070
Disposals ( 1,390) ( 1,390)
At 30 April 2024 686,857 686,857
Net book value
At 30 April 2024 14,515 14,515
At 30 April 2023 27,382 27,382
Leased assets included above:
Net book value
At 30 April 2024 5,276 5,276
At 30 April 2023 15,701 15,701

4. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 May 2023 100
At 30 April 2024 100
Carrying value at 30 April 2024 100
Carrying value at 30 April 2023 100

5. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 400,547 300,325
Prepayments 32,044 31,352
Other debtors 16,200 16,201
448,791 347,878

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 19,275 10,815
Accruals 33,350 30,863
Other taxation and social security 110,493 132,335
Obligations under finance leases and hire purchase contracts 5,276 15,828
Other creditors 10,321 11,196
178,715 201,037

Net obligations under finance leases and hire purchase contracts are secured upon the assets concerned.

7. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 96,718 120,088
between one and five years 59,776 21,362
156,494 141,450

8. Related party transactions

During the year, the Company made no distributions to the majority shareholder (2023: £nil).