Caseware UK (AP4) 2024.0.164 2024.0.164 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsefalse2023-07-01falseThe principal activity of the company is Furnished holiday letting.22true 12669690 2023-07-01 2024-06-30 12669690 2022-07-01 2023-06-30 12669690 2024-06-30 12669690 2023-06-30 12669690 2023-07-01 12669690 2022-07-01 12669690 c:Director1 2023-07-01 2024-06-30 12669690 d:FurnitureFittings 2023-07-01 2024-06-30 12669690 d:FurnitureFittings 2024-06-30 12669690 d:FurnitureFittings 2023-06-30 12669690 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 12669690 d:FreeholdInvestmentProperty 2023-07-01 2024-06-30 12669690 d:FreeholdInvestmentProperty 2024-06-30 12669690 d:FreeholdInvestmentProperty 2023-06-30 12669690 d:FreeholdInvestmentProperty 2 2023-07-01 2024-06-30 12669690 d:CurrentFinancialInstruments 2024-06-30 12669690 d:CurrentFinancialInstruments 2023-06-30 12669690 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 12669690 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 12669690 d:ShareCapital 2023-07-01 2024-06-30 12669690 d:ShareCapital 2024-06-30 12669690 d:ShareCapital 2022-07-01 2023-06-30 12669690 d:ShareCapital 2023-06-30 12669690 d:ShareCapital 2022-07-01 12669690 d:RevaluationReserve 2023-07-01 2024-06-30 12669690 d:RevaluationReserve 2024-06-30 12669690 d:RevaluationReserve 2022-07-01 2023-06-30 12669690 d:RevaluationReserve 2023-06-30 12669690 d:RevaluationReserve 2022-07-01 12669690 d:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 12669690 d:RetainedEarningsAccumulatedLosses 2024-06-30 12669690 d:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 12669690 d:RetainedEarningsAccumulatedLosses 2023-06-30 12669690 d:RetainedEarningsAccumulatedLosses 2022-07-01 12669690 d:OtherDeferredTax 2024-06-30 12669690 d:OtherDeferredTax 2023-06-30 12669690 c:OrdinaryShareClass1 2023-07-01 2024-06-30 12669690 c:OrdinaryShareClass1 2024-06-30 12669690 c:OrdinaryShareClass1 2023-06-30 12669690 c:OrdinaryShareClass2 2023-07-01 2024-06-30 12669690 c:OrdinaryShareClass2 2024-06-30 12669690 c:OrdinaryShareClass2 2023-06-30 12669690 c:OrdinaryShareClass3 2023-07-01 2024-06-30 12669690 c:OrdinaryShareClass3 2024-06-30 12669690 c:OrdinaryShareClass3 2023-06-30 12669690 c:OrdinaryShareClass4 2023-07-01 2024-06-30 12669690 c:OrdinaryShareClass4 2024-06-30 12669690 c:OrdinaryShareClass4 2023-06-30 12669690 c:OrdinaryShareClass5 2023-07-01 2024-06-30 12669690 c:OrdinaryShareClass5 2024-06-30 12669690 c:OrdinaryShareClass5 2023-06-30 12669690 c:FRS102 2023-07-01 2024-06-30 12669690 c:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 12669690 c:FullAccounts 2023-07-01 2024-06-30 12669690 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 12669690 d:AccountingPolicyChangeIncreaseDecrease 2022-07-01 2023-06-30 12669690 d:RevaluationReserve d:AccountingPolicyChangeIncreaseDecrease 2023-07-01 2024-06-30 12669690 d:RetainedEarningsAccumulatedLosses d:AccountingPolicyChangeIncreaseDecrease 2022-07-01 2023-06-30 12669690 2 2023-07-01 2024-06-30 12669690 6 2023-07-01 2024-06-30 12669690 f:PoundSterling 2023-07-01 2024-06-30 12669690 d:ShareCapital d:AccountingPolicyChangeIncreaseDecrease 2022-07-01 2023-06-30 12669690 d:RetainedEarningsAccumulatedLosses d:PreviouslyStatedAmount 2022-07-01 12669690 d:PreviouslyStatedAmount 2022-07-01 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12669690










TAROSA LTD.








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 30 June 2024

 
TAROSA LTD.
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of TAROSA LTD. for the year ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of TAROSA LTD. for the year ended 30 June 2024 which comprise  the Balance sheet, the Statement of changes in equity and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of TAROSA LTD., as a body, in accordance with the terms of our engagement letter dated 11 April 2024Our work has been undertaken solely to prepare for your approval the financial statements of TAROSA LTD. and state those matters that we have agreed to state to the Board of directors of TAROSA LTD., as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than TAROSA LTD. and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that TAROSA LTD. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of TAROSA LTD.. You consider that TAROSA LTD. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of TAROSA LTD.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
10 March 2025
Page 1

 
TAROSA LTD.
Registered number: 12669690

Balance sheet
As at 30 June 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
19,046
16,615

Investments
 5 
-
1

Investment property
  
1,080,000
1,297,216

  
1,099,046
1,313,832

Current assets
  

Debtors: amounts falling due within one year
 7 
522
690

Bank and cash balances
  
389,843
8,327

  
390,365
9,017

Creditors: amounts falling due within one year
 8 
(1,364,930)
(1,365,399)

Net current liabilities
  
 
 
(974,565)
 
 
(1,356,382)

Total assets less current liabilities
  
124,481
(42,550)

Provisions for liabilities
  

Deferred tax
  
(38,496)
-

  
 
 
(38,496)
 
 
-

Net assets/(liabilities)
  
85,985
(42,550)


Capital and reserves
  

Called up share capital 
 10 
200
200

Revaluation reserve
  
108,832
-

Profit and loss account
  
(23,047)
(42,750)

  
85,985
(42,550)


Page 2

 
TAROSA LTD.
Registered number: 12669690

Balance sheet (continued)
As at 30 June 2024

The directors consider 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 directors acknowledge their 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 D Lee
Director
Date: 9 March 2025

The notes on pages 5 to 10 form part of these financial statements.
Page 3

 
TAROSA LTD.
 

Statement of changes in equity
For the year ended 30 June 2024


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£


At 1 July 2022 (as previously stated)
200
-
(54,327)
(54,127)

Prior year adjustment - change in accounting policy
-
-
41,528
41,528


At 1 July 2022 (as restated)
200
-
(12,799)
(12,599)


Comprehensive income for the year

Loss for the year
-
-
(29,951)
(29,951)
Total comprehensive income for the year
-
-
(29,951)
(29,951)


Total transactions with owners
-
-
-
-



At 1 July 2023
200
-
(42,750)
(42,550)


Comprehensive income for the year

Profit for the year
-
-
128,535
128,535
Total comprehensive income for the year
-
-
128,535
128,535

Transfer between reserves
-
108,832
(108,832)
-


Total transactions with owners
-
108,832
(108,832)
-


At 30 June 2024
200
108,832
(23,047)
85,985


Page 4

 
TAROSA LTD.
 

 
Notes to the financial statements
For the year ended 30 June 2024

1.


General information

Tarosa Ltd is a private company, limited by share capital, and incorporated in England and Wales. The registered office address is Springfield House, Springfield Road, Horsham, West Sussex, RH12 2RG.
The financial statements are presented in sterling and rounded to the nearest £1.

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 company currently holds net liabilities and requires support from the directors to continue on a going concern basis. The directors have confirmed that they will continue to give financial support to the company until such time as its position improves, and consider that it is appropriate to prepare the financial statements on a going concern basis.

 
2.3

Revenue

Revenue is recognised in the period in which the furnished holiday let services are provided 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 and rebates.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 5

 
TAROSA LTD.
 

 
Notes to the financial statements
For the year ended 30 June 2024

2.Accounting policies (continued)

 
2.5

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.


 
2.6

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.

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:

Fixtures and fittings
-
33%
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.

 
2.7

Investment property

Investment property is carried at fair value determined annually by the directors and derived 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 profit or loss.

Page 6

 
TAROSA LTD.
 

 
Notes to the financial statements
For the year ended 30 June 2024

2.Accounting policies (continued)

 
2.8

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.9

Debtors

Short- term debtors are measured at transaction price, less any impairment.

 
2.10

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.

 
2.11

Creditors

Short-term creditors are measured at the transaction price.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 7

 
TAROSA LTD.
 

 
Notes to the financial statements
For the year ended 30 June 2024

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 July 2023
24,423


Additions
15,769


Disposals
(5,090)



At 30 June 2024

35,102



Depreciation


At 1 July 2023
7,808


Charge for the year on owned assets
9,833


Disposals
(1,585)



At 30 June 2024

16,056



Net book value



At 30 June 2024
19,046



At 30 June 2023
16,615


5.


Fixed asset investments





Unlisted investments

£





At 1 July 2023
1


Disposals
(1)



At 30 June 2024
-




Page 8

 
TAROSA LTD.
 

 
Notes to the financial statements
For the year ended 30 June 2024

6.


Investment property


Freehold investment property

£



Valuation


At 1 July 2023
1,297,216


Additions at cost
7,508


Disposals
(372,052)


Surplus on revaluation
147,328



At 30 June 2024
1,080,000

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



At 30 June 2024



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
932,672
1,297,216

932,672
1,297,216


7.


Debtors

2024
2023
£
£


Prepayments and accrued income
522
690

522
690



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
18,831
-

Other creditors
1,342,599
1,362,099

Accruals and deferred income
3,500
3,300

1,364,930
1,365,399


Page 9

 
TAROSA LTD.
 

 
Notes to the financial statements
For the year ended 30 June 2024

9.


Deferred taxation




2024


£






Charged to profit or loss
(38,496)



At end of year
(38,496)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Surplus on property revaluations
(38,496)
-

(38,496)
-


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



55 (2023 - 55) Ordinary A shares of £1.00 each
55
55
55 (2023 - 55) Ordinary B shares of £1.00 each
55
55
30 (2023 - 30) Ordinary C shares of £1.00 each
30
30
30 (2023 - 30) Ordinary D shares of £1.00 each
30
30
30 (2023 - 30) Ordinary E shares of £1.00 each
30
30

200

200



11.


Reserves

Revaluation reserve

The revaluation reserve comprises unrealised gains on the revaluation of investment properties, net of deferred taxation. 

Profit and loss account

The profit and loss account compromises the company's cumulative profits, net of dividends declared.


12.


Related party transactions

During the period the directors continued to provide loans to the company. The loans are interest free and repayable on demand. At the balance sheet date, the amount due to the directors was £1,342,599 (2023: £1,362,099).


Page 10