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Tarrant Howl Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10081179
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 790 1,265
790 1,265
CURRENT ASSETS
Debtors 5 24,494 23,409
Cash at bank and in hand 3,374 3,158
27,868 26,567
Creditors: Amounts Falling Due Within One Year 6 (14,116 ) (13,365 )
NET CURRENT ASSETS (LIABILITIES) 13,752 13,202
TOTAL ASSETS LESS CURRENT LIABILITIES 14,542 14,467
Creditors: Amounts Falling Due After More Than One Year 7 (15,254 ) (17,374 )
NET LIABILITIES (712 ) (2,907 )
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account (714 ) (2,909 )
SHAREHOLDERS' FUNDS (712) (2,907)
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For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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
S J Howl
Director
23 October 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Tarrant Howl Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10081179 . The registered office is 1 Tarrant Place, Madeira Road, West Byfleet, Surrey, KT14 6DB.
The presentation currency of the financial statements is the Pound Sterling (£).
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. Going Concern Disclosure
At the balance sheet date, the company had net liabilities. The directors have confirmed that they will continue to financially support the company for the foreseeable future. The company, with the directors support, is currently able to meet its liabilities as and when they fall due. For these reasons, the accounts are prepared on a going concern basis.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue is recognised when services are performed.
2.4. 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:
Fixtures & Fittings straight line over 4 years
Computer Equipment straight line over 3 years
2.5. Leasing and Hire Purchase Contracts
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.
2.6. Financial Instruments
Debt instruments, other than those wholly repayable within one year, are initially measured at transaction price including transaction costs and subsequently at amortised cost using the effective interest rate method.
2.7. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 material 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.
3. Average Number of Employees
Average number of employees during the year was: NIL (2023: NIL)
- -
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4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 August 2023 471 2,858 3,329
Additions 88 - 88
Disposals (55 ) - (55 )
As at 31 July 2024 504 2,858 3,362
Depreciation
As at 1 August 2023 419 1,645 2,064
Provided during the period 60 503 563
Disposals (55 ) - (55 )
As at 31 July 2024 424 2,148 2,572
Net Book Value
As at 31 July 2024 80 710 790
As at 1 August 2023 52 1,213 1,265
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 9,360
Other debtors 24,494 14,049
24,494 23,409
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,602 3,225
Bank loans and overdrafts 2,601 2,789
Other loans 4,175 1,540
Other creditors 885 884
Taxation and social security 2,853 4,927
14,116 13,365
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 14,773 17,374
Other loans 481 -
15,254 17,374
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8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
1 Ordinary A shares of £ 1.00 each 1 1
1 Ordinary B shares of £ 1.00 each 1 1
2 2
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 6,461 6,461
Later than one year and not later than five years 538 7,000
6,999 13,461
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 August 2023 Amounts advanced Amounts repaid Amounts written off As at 31 July 2024
£ £ £ £ £
Mr Stewart Howl 10,504 35,440 24,008 - 21,936
Interest has been included on the loan at HMRC beneficial loan rates. This was repaid shortly after the year end.
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