Company registration number 04692654 (England and Wales)
TAL SCUBA LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
30 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
10 Bridge Street
Christchurch
Dorset
BH23 1EF
TAL SCUBA LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
TAL SCUBA LIMITED
BALANCE SHEET
AS AT
30 MARCH 2024
30 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,246
4,330
Current assets
Stocks
23,508
42,585
Debtors
4
22,715
32,634
Cash at bank and in hand
37,618
9,188
83,841
84,407
Creditors: amounts falling due within one year
5
(89,128)
(61,510)
Net current (liabilities)/assets
(5,287)
22,897
Total assets less current liabilities
(2,041)
27,227
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(2,042)
27,226
Total equity
(2,041)
27,227
TAL SCUBA LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 MARCH 2024
30 March 2024
- 3 -
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 30 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 18 March 2025
Mr T A Leyland
Director
Company Registration No. 04692654
The notes on pages 4 to 8 form part of these financial statements
TAL SCUBA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 MARCH 2024
- 4 -
1
Accounting policies
Company information
TAL Scuba Limited is a private company limited by shares incorporated in England and Wales. The registered office is 8 St Catherine's Parade, Fairmile Road, Christchurch, Dorset, United Kingdom, BH23 2LQ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% on the reducing balance
Fixtures and fittings
25% on the reducing balance
Computers
25% on the reducing balance
Motor vehicles
25% on the reducing balance
Compressor
25% on the reducing balance
Pool improvements
10% on cost
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.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
TAL SCUBA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.6
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, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.11
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
TAL SCUBA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 MARCH 2024
- 6 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
2023
Number
Number
Total
1
1
TAL SCUBA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 MARCH 2024
- 7 -
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Compressor
Pool improvements
Total
£
£
£
£
£
£
£
Cost
At 1 April 2023 and 30 March 2024
50,387
3,751
16,189
10,079
11,194
2,025
93,625
Depreciation and impairment
At 1 April 2023
49,549
3,040
15,039
8,483
11,159
2,025
89,295
Depreciation charged in the period
210
178
288
399
9
1,084
At 30 March 2024
49,759
3,218
15,327
8,882
11,168
2,025
90,379
Carrying amount
At 30 March 2024
628
533
862
1,197
26
3,246
At 31 March 2023
838
711
1,150
1,596
35
4,330
TAL SCUBA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 MARCH 2024
- 8 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
14,574
29,546
Corporation tax recoverable
4,568
Other debtors
283
Prepayments and accrued income
3,290
3,088
22,715
32,634
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
15,247
15,352
Taxation and social security
3,849
Other creditors
71,356
39,609
Accruals and deferred income
2,525
2,700
89,128
61,510