REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2024 |
for |
Karl Tatler Estate Agents Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2024 |
for |
Karl Tatler Estate Agents Limited |
Karl Tatler Estate Agents Limited (Registered number: 04011483) |
Contents of the Financial Statements |
for the Year Ended 31 December 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 10 |
Karl Tatler Estate Agents Limited |
Company Information |
for the Year Ended 31 December 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Barnston House |
Beacon Lane |
Heswall |
Wirral |
Merseyside |
CH60 0EE |
Karl Tatler Estate Agents Limited (Registered number: 04011483) |
Balance Sheet |
31 December 2024 |
31.12.24 | 31.12.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Karl Tatler Estate Agents Limited (Registered number: 04011483) |
Balance Sheet - continued |
31 December 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Karl Tatler Estate Agents Limited (Registered number: 04011483) |
Notes to the Financial Statements |
for the Year Ended 31 December 2024 |
1. | STATUTORY INFORMATION |
Karl Tatler Estate Agents Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is recognised at the fair value of the consideration received or receivable for sale of services in the ordinary nature of the business. Turnover is shown net of Value Added Tax, of services provided to customers. |
Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of five years |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Karl Tatler Estate Agents Limited (Registered number: 04011483) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
2. | ACCOUNTING POLICIES - continued |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 January 2024 |
and 31 December 2024 |
AMORTISATION |
At 1 January 2024 |
Charge for year |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
Karl Tatler Estate Agents Limited (Registered number: 04011483) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 January 2024 |
Additions |
At 31 December 2024 |
DEPRECIATION |
At 1 January 2024 |
Charge for year |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2024 |
Additions |
At 31 December 2024 |
DEPRECIATION |
At 1 January 2024 |
Charge for year |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
Karl Tatler Estate Agents Limited (Registered number: 04011483) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Trade debtors |
Amounts owed by associates |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts (see note 9) |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Bank loans |
Hire purchase contracts (see note 9) |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 292,991 | - |
9. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
31.12.24 | 31.12.23 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Karl Tatler Estate Agents Limited (Registered number: 04011483) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
9. | LEASING AGREEMENTS - continued |
Non-cancellable operating | leases |
31.12.24 | 31.12.23 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.12.24 | 31.12.23 |
£ | £ |
Hire purchase contracts | 198,327 | - |
Bank loans | 617,991 | - |
Debenture dated 30/09/2004 - fixed and floating charges which covers all the property and assets in favour of NatWest Bank Plc. |
Legal charge dated 05/06/2024 - 21, 21A, 23 & 23A Pensby Road, Heswall, Wirral, CH60 7RA which covers all the property or undertaking of the company and a negative pledge, in favour of NatWest Bank Plc. |
Net obligations under finance leases and hire purchase contracts are secured on the assets concerned. |
11. | SHAREHOLDER AND DIRECTORS' ADVANCES AND CREDITS |
The following advances and credits to a shareholder and a director subsisted during the years ended 31 December 2024 and 31 December 2023: |
31.12.24 | 31.12.23 |
£ | £ |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
During the year, interest free, unsecured advances were made from the shareholder and director, and were repayable on demand. |
Karl Tatler Estate Agents Limited (Registered number: 04011483) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
12. | RELATED PARTY DISCLOSURES |
During the year the company paid rent at market value of £11,000 (2023 £11,000) in respect of premises owned by a Self Invested Personal Pension in the name of Mr K S Tatler, a director and shareholder of the company. Rent of £16,000 (2023 £16,000) was also paid to K Tatler and his wife in respect of a property owned personally, from which the company trades. |
13. | LOAN WRITE OFF |
Last year an amount of £100 due to Karl Tatler Lettings Limited (KTL) from Karl Tatler Estates Limited (KTE) was written off. The amount released was credited to the profit and loss account.The director was of the opinion that due to the connection between KTL and KTE and its directors, the write off was not chargeable to Corporation Tax under the loan relationship rules. Therefore no provision was been made for Corporation Tax within these accounts. |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Karl Tatler Estate Agents Limited |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Karl Tatler Estate Agents Limited for the year ended 31 December 2024 which comprise the Profit and Loss Account, Balance Sheet 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Karl Tatler Estate Agents Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Karl Tatler Estate Agents Limited and state those matters that we have agreed to state to the Board of Directors of Karl Tatler Estate Agents Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Karl Tatler Estate Agents Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Karl Tatler Estate Agents Limited 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 Karl Tatler Estate Agents Limited. You consider that Karl Tatler Estate Agents Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Karl Tatler Estate Agents Limited. 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. |
Chartered Accountants |
Barnston House |
Beacon Lane |
Heswall |
Wirral |
Merseyside |
CH60 0EE |