Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08082862 2023-04-01 2024-03-31 08082862 2022-04-01 2023-03-31 08082862 2024-03-31 08082862 c:KeyManagementIndividualGroup1 c:OtherTransactionType1 2024-03-31 08082862 c:KeyManagementIndividualGroup1 c:OtherTransactionType1 2023-04-01 2024-03-31 08082862 c:KeyManagementIndividualGroup2 c:OtherTransactionType2 2024-03-31 08082862 c:KeyManagementIndividualGroup2 c:OtherTransactionType2 2023-04-01 2024-03-31 08082862 c:KeyManagementIndividualGroup3 c:OtherTransactionType3 2024-03-31 08082862 c:KeyManagementIndividualGroup3 c:OtherTransactionType3 2023-04-01 2024-03-31 08082862 c:KeyManagementIndividualGroup4 c:OtherTransactionType4 2024-03-31 08082862 c:KeyManagementIndividualGroup4 c:OtherTransactionType4 2023-04-01 2024-03-31 08082862 c:KeyManagementIndividualGroup5 c:OtherTransactionType5 2024-03-31 08082862 c:KeyManagementIndividualGroup5 c:OtherTransactionType5 2023-04-01 2024-03-31 08082862 2023-03-31 08082862 d:Director1 2023-04-01 2024-03-31 08082862 c:PlantMachinery 2023-04-01 2024-03-31 08082862 c:PlantMachinery 2024-03-31 08082862 c:PlantMachinery 2023-03-31 08082862 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08082862 c:FurnitureFittings 2023-04-01 2024-03-31 08082862 c:FurnitureFittings 2024-03-31 08082862 c:FurnitureFittings 2023-03-31 08082862 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08082862 c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08082862 c:FreeholdInvestmentProperty 2024-03-31 08082862 c:FreeholdInvestmentProperty 2023-03-31 08082862 c:CurrentFinancialInstruments 2024-03-31 08082862 c:CurrentFinancialInstruments 2023-03-31 08082862 c:Non-currentFinancialInstruments 2024-03-31 08082862 c:Non-currentFinancialInstruments 2023-03-31 08082862 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 08082862 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 08082862 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 08082862 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 08082862 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2024-03-31 08082862 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-03-31 08082862 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2024-03-31 08082862 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-03-31 08082862 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2024-03-31 08082862 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2023-03-31 08082862 c:ShareCapital 2024-03-31 08082862 c:ShareCapital 2023-03-31 08082862 c:SharePremium 2024-03-31 08082862 c:SharePremium 2023-03-31 08082862 c:InvestmentPropertiesRevaluationReserve 2024-03-31 08082862 c:InvestmentPropertiesRevaluationReserve 2023-03-31 08082862 c:RetainedEarningsAccumulatedLosses 2024-03-31 08082862 c:RetainedEarningsAccumulatedLosses 2023-03-31 08082862 d:FRS102 2023-04-01 2024-03-31 08082862 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08082862 d:FullAccounts 2023-04-01 2024-03-31 08082862 d:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08082862 c:WithinOneYear 2024-03-31 08082862 c:WithinOneYear 2023-03-31 08082862 c:BetweenOneFiveYears 2024-03-31 08082862 c:BetweenOneFiveYears 2023-03-31 08082862 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 08082862










TAPIA INVESTMENTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
TAPIA INVESTMENTS LIMITED
REGISTERED NUMBER: 08082862

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
43,552
55,107

Investment property
 5 
13,683,327
13,683,327

  
13,726,879
13,738,434

Current assets
  

Debtors: amounts falling due within one year
 6 
1,664,587
1,772,090

Cash at bank and in hand
  
13,824
25,603

  
1,678,411
1,797,693

Creditors: amounts falling due within one year
 7 
(1,038,886)
(886,691)

Net current assets
  
 
 
639,525
 
 
911,002

Total assets less current liabilities
  
14,366,404
14,649,436

Creditors: amounts falling due after more than one year
 8 
(8,687,315)
(8,679,734)

Provisions for liabilities
  

Deferred tax
  
(505,550)
(474,428)

Other provision
  
(375,000)
(375,000)

  
(880,550)
(849,428)

Net assets
  
4,798,539
5,120,274


Capital and reserves
  

Called up share capital 
  
100
100

Share premium account
  
2,996,809
2,996,809

Investment property reserve
  
2,094,008
2,094,008

Profit and loss account
  
(292,378)
29,357

  
4,798,539
5,120,274


Page 1

 
TAPIA INVESTMENTS LIMITED
REGISTERED NUMBER: 08082862
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr V H Patel
Director

Date: 27 January 2025

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
TAPIA INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Tapia Investments Limited (“the company”) is a private company limited by shares, incorporated in England and Wales under the Companies Act.
The registered number and address of the registered office is given in the company information. 
The functional and presentational currency of the company is pounds sterling (£) and rounded to the nearest whole pound.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends upon an improvement in the company's trading position and continued financial support from its director and shareholders. The financial statements do not include any adjustments that would result if such support is not continuing.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue 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 revenue 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.

Page 3

 
TAPIA INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.

 
2.6

Borrowing costs

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

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 4

 
TAPIA INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
10% straight line
Fixtures and fittings
-
5% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.9

Investment property

Investment property is carried at fair value determined annually by the directors from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
TAPIA INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.13

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of comprehensive income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.14

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 6

 
TAPIA INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost 


At 1 April 2023
108,876
13,333
122,209



At 31 March 2024

108,876
13,333
122,209



Depreciation


At 1 April 2023
64,788
2,314
67,102


Charge for the year on owned assets
10,888
667
11,555



At 31 March 2024

75,676
2,981
78,657



Net book value



At 31 March 2024
33,200
10,352
43,552



At 31 March 2023
44,088
11,019
55,107

Page 7

 
TAPIA INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
13,683,327



At 31 March 2024
13,683,327

The 2024 valuations were made by the director, on an open market value for existing use basis.

2024
2023
£
£

Revaluation reserves


At 1 April 2023
2,094,008
2,094,008

At 31 March 2024
2,094,008
2,094,008





6.


Debtors

2024
2023
£
£


Trade debtors
184,087
153,678

Other debtors
1,260,267
1,393,663

Prepayments and accrued income
220,233
224,749

1,664,587
1,772,090


Page 8

 
TAPIA INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
40,044
43,703

Trade creditors
148,611
89,312

Corporation tax
52,442
78,625

Other creditors
794,489
670,751

Accruals and deferred income
3,300
4,300

1,038,886
886,691


Bank overdrafts of £40,044 (2023: £43,703) are secured against the company's assets.


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
8,248,843
8,241,296

Other creditors
438,472
438,438

8,687,315
8,679,734


Other loans totalling £8,248,843 (2023: £8,241,296) are secured against the company's assets.


9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£


Amounts falling due 1-2 years

Other loans
41,491
45,100

Amounts falling due 2-5 years

Other loans
63,701
80,348

Amounts falling due after more than 5 years

Other loans
8,143,651
8,115,848

8,248,843
8,241,296


Page 9

 
TAPIA INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
-
12,840

Later than 1 year and not later than 5 years
-
18,190

-
31,030


11.


Related party transactions

Included within other debtors is a balance owed from Elcoteq Magyarorszag KFT Limited, a company with directors and shareholders in common, totalling £4,906 (2023: £4,906).
Also included within other debtors is a balance owed from Sys Holding Limited, a company with directors and shareholders in common, totalling £1,100 (2023: £1,100).
Also included within other debtors is a balance owed from Systemation Euro Limited, a company with directors and shareholders in common, totalling £235,004 (2023: £374,550).
Also included within other debtors is a balance owed from Systorm UK Limited, a company with directors and shareholders in common, totalling £252,502 (2023: £253,043).
Also included within other debtors is a balance owed by Tapia Developments Limited, a company with directors and shareholders in common, totalling £611,982 (2023: £611,682).
Also included within other debtors is a balance owed by Sidwell Farms Ltd, a company with directors and shareholders in common, totalling £1,000 (2023: £1,000).
Also included within other debtors is a balance owed by Elcoteq Hungary Ltd, a company with directors and shareholders in common, totalling £31,500 (2023: £23,700).
Included within other creditors is a balance owed to Checksys Euro Limited, a company with directors and shareholders in common, totalling £271,054 (2023: £219,844).
Also included within other creditors is a balance owed to Moulton Main Garage Ltd, a company under common control, totalling £9,050 (2023: £nil).
Also included within other creditors is a balance owed to a director totalling £433,389 (2023: £348,884).
All balances are unsecured, interest free and repayable on demand.

 
Page 10