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Registration number: 05139672

L T Tanner Developments Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

L T Tanner Developments Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 5

 

L T Tanner Developments Limited

(Registration number: 05139672)
Statement of Financial Position as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

1

1

Current assets

 

Debtors

5

288,355

246,004

Cash at bank and in hand

 

13,354

12,082

 

301,709

258,086

Creditors: Amounts falling due within one year

6

(28,765)

(17,121)

Net current assets

 

272,944

240,965

Net assets

 

272,945

240,966

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

272,943

240,964

Shareholders' funds

 

272,945

240,966

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges 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 and 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 director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 14 March 2025
 


Leslie Terence Tanner
Director

 

L T Tanner Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 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:
St Helens House
Croyde
Braunton
Devon
EX33 1PN

Principal activity

The principal activity of the company is property development.

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 except that as disclosed in the accounting policies certain items are shown at fair value.

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

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.

Tax

The tax expense for the period comprises current 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.

 

L T Tanner Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

2

Accounting policies (continued)

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.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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

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 the director) during the year, was 1 (2023 - 1).

 

L T Tanner Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

4

Investments

2024
£

2023
£

Fixed asset investment participating loan

1

1

Fixed asset investment participating loan

£

Cost or valuation

At 1 June 2023

1

5

Debtors

Note

2024
£

2023
£

Other debtors

 

216,886

185,222

Income tax asset

71,469

60,782

 

288,355

246,004

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

27,381

15,818

Accruals and deferred income

1,350

1,290

Other creditors

34

13

28,765

17,121

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

L T Tanner Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

8

Related party transactions

Transactions with the director

2024

At 1 June 2023
£

Advances to director
£

At 31 May 2024
£

Director

185,222

31,664

216,886

       
     

 

2023

At 1 June 2022
£

Advances to director
£

Repayments by director
£

At 31 May 2023
£

Director

138,392

46,830

-

185,222

 

Interest has been charged at the official rate of interest. In the year ended 31 May 2024 this amounted to £4,386 (2023: £3,052). The loan is repayable on demand.