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Registered number: 08866957
Tequila Developments Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Lillian Gray Accountants Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08866957
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 12,060 13,309
12,060 13,309
CURRENT ASSETS
Stocks 5 10,000 23,000
Debtors 6 48,276 52,942
Cash at bank and in hand 690 7,381
58,966 83,323
Creditors: Amounts Falling Due Within One Year 7 (225,452 ) (199,934 )
NET CURRENT ASSETS (LIABILITIES) (166,486 ) (116,611 )
TOTAL ASSETS LESS CURRENT LIABILITIES (154,426 ) (103,302 )
Creditors: Amounts Falling Due After More Than One Year 8 (40,272 ) (49,234 )
NET LIABILITIES (194,698 ) (152,536 )
CAPITAL AND RESERVES
Called up share capital 10 136 140
Capital redemption reserve 1 1
Profit and Loss Account (194,835 ) (152,677 )
SHAREHOLDERS' FUNDS (194,698) (152,536)
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr William Redfern
Director
14/03/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Tequila Developments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08866957 . The registered office is 17 Kingsway, St John's Terrace, Bedford, MK42 9BJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% on cost
Computer Equipment 20% on cost
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 45,666 3,172 48,838
Additions 1,762 110 1,872
As at 31 March 2024 47,428 3,282 50,710
Depreciation
As at 1 April 2023 33,211 2,318 35,529
Provided during the period 2,886 235 3,121
As at 31 March 2024 36,097 2,553 38,650
Net Book Value
As at 31 March 2024 11,331 729 12,060
As at 1 April 2023 12,455 854 13,309
5. Stocks
2024 2023
£ £
Work in progress 10,000 23,000
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6. Debtors
2024 2023
£ £
Due within one year
Other debtors 3,750 1,000
VAT 1,304 2,596
Director's loan account - 3,584
Amounts owed by associates 43,222 45,762
48,276 52,942
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 3,245 3,245
Trade creditors 2,519 2,486
Bank loans and overdrafts 5,625 5,332
Other creditors - Winston Contruction 90,500 90,500
Accruals and deferred income 7,450 1,080
Amounts owed to associates 116,113 97,291
225,452 199,934
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 6,348 9,245
Bank loans 33,924 39,989
40,272 49,234
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 3,245 3,245
Later than one year and not later than five years 6,348 9,245
9,593 12,490
9,593 12,490
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 136 140
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11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr William Redfern 3,584 4,667 (8,251 ) - -
The above loan is unsecured, interest free and repayable on demand.
12. Related Party Transactions
Mojito Construction LimitedA Company controlled by the Director William RedfernIncluded in debtors is an amount owed of £41,902 (2023 £45,102)

Mojito Construction Limited

A Company controlled by the Director William Redfern

Included in debtors is an amount owed of £41,902 (2023 £45,102)

Golden Goose Travel LtdA Company controlled by the Director William RedfernIncluded in creditors is an amount owing of £41,149 (2023 £49,700)

Golden Goose Travel Ltd

A Company controlled by the Director William Redfern

Included in creditors is an amount owing of £41,149 (2023 £49,700)

Ferndev LimitedA Company controlled by the Director William RedfernIncluded in debtors is an amount owed of £1,320 (2023 £660)

Ferndev Limited

A Company controlled by the Director William Redfern

Included in debtors is an amount owed of £1,320 (2023 £660)

Reddev LimitedA Company controlled by the Director William RedfernIncluded in creditors is an amount owing of £71,326 (2023 £47,591)

Reddev Limited

A Company controlled by the Director William Redfern

Included in creditors is an amount owing of £71,326 (2023 £47,591)

Georgia House Stud LtdA Company controlled by the Director William RedfernIncluded in creditors is an amount owing of £3,636 (2023 £Nil)

Georgia House Stud Ltd

A Company controlled by the Director William Redfern

Included in creditors is an amount owing of £3,636 (2023 £Nil)

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