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Registration number: 05379460

Tanners Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Tanners Holdings Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Tanners Holdings Limited

(Registration number: 05379460)
Statement of Financial Position as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

15,479

20,505

Investments

5

300,000

300,000

 

315,479

320,505

Current assets

 

Debtors

6

10,879

980

Cash at bank and in hand

 

12,549

9,266

 

23,428

10,246

Creditors: Amounts falling due within one year

7

(192,608)

(195,909)

Net current liabilities

 

(169,180)

(185,663)

Total assets less current liabilities

 

146,299

134,842

Provisions for liabilities

-

(387)

Net assets

 

146,299

134,455

Capital and reserves

 

Called up share capital

5,004

5,004

Profit and loss account

141,295

129,451

Shareholders' funds

 

146,299

134,455

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

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 27 February 2025 and signed on its behalf by:
 

 

Tanners Holdings Limited

(Registration number: 05379460)
Statement of Financial Position as at 30 June 2024 (continued)


Mr C M Tanner
Company secretary and director

 

Tanners Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
60 Southside Street
The Barbican
Plymouth
Devon
PL1 2LQ

Principal activity

The principal activity of the company is that of holding the investment in subsidiary undertakings during the year together with the trade in the provision of personal, television and advertisement appearances.

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Group accounts not prepared

The Company has taken advantage of the exemption in section 399 of the Companies Act 2006 not to prepare consolidated accounts, because the group it heads qualifies as small. The financial statements present information about the Company as an individual entity only.
.

 

Tanners Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

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

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

 

Tanners Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fittings, fixtures and equipment

15% reducing balance

Motor vehicles

25% reducing balance

Computer equipment

33% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past
event; it is probable that the entity will be required to transfer economic benefits in settlement and the
amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the
statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at
the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally
recognised as part of the cost of an asset. When a provision is measured at the present value of the
amount expected to be required to settle the obligation, the unwinding of the discount is recognised in
finance costs in profit or loss in the period it arises.

 

Tanners Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Tanners Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

4

Tangible assets

Fixtures, fittings and equipment
£

Computer equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

7,385

2,340

19,500

29,225

At 30 June 2024

7,385

2,340

19,500

29,225

Depreciation

At 1 July 2023

6,380

2,340

-

8,720

Charge for the year

151

-

4,875

5,026

At 30 June 2024

6,531

2,340

4,875

13,746

Carrying amount

At 30 June 2024

854

-

14,625

15,479

At 30 June 2023

1,005

-

19,500

20,505

5

Investments

Shares in group undertakings and participating interests
£

Total
£

Cost

At 1 July 2023

300,000

300,000

At 30 June 2024

300,000

300,000

Impairment

Carrying amount

At 30 June 2024

300,000

300,000

 

Tanners Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

6

Debtors

Note

2024
£

2023
£

Other debtors

 

10,546

980

Deferred tax assets

333

-

 

10,879

980

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Trade creditors

 

4,386

-

Amounts owed to related parties

9

143,351

135,340

Taxation and social security

 

33,808

32,893

Accruals and deferred income

 

3,715

1,882

Other creditors

 

7,348

25,794

 

192,608

195,909

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

Tanners Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

9

Related party transactions

Transactions with directors

During the year the directors entered into the following advances and credits with the company:

2024

At 1 July 2023
£

Advances to director
£

Repayments by director
£

At 30 June 2024
£

Director 1

(19,559)

22,676

(9,466)

(6,349)

Director 2

(6,234)

19,128

(3,328)

9,566

 

(25,793)

41,804

(12,794)

3,217

       

 

2023

At 1 July 2022
£

Advances to director
£

Repayments by director
£

At 30 June 2023
£

Director 1

(10,309)

11,979

(21,229)

(19,559)

Director 2

3,016

500

(9,750)

(6,234)

(7,293)

12,479

(30,979)

(25,793)

 

Directors' loans are repayable on demand.

Summary of transactions with parent

During the year the company entered into transactions with the subsidiary of dividends received of £32,000 (2023: £45,000). As at the 30 June 2024 Tanners Holdings Limited owed £143,351 to Barbican Kitchen Limited (2023: £135,340).

Other related party transactions

During the year the company entered into the following transactions with related parties:

2024
£

2023
£

Tanners LLP

-

(47,384)

Tanners South East Limited

99,866

53,000

99,866

5,616

Tanners LLP is an entity of which both C Tanner and J Tanner were members.

Tanners South East Limited is an entity controlled by C Tanner and J Tanner.