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Registered number: 04498514
Tara Roadair Limited
Unaudited Financial Statements
For The Year Ended 30 November 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04498514
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 290,367 273,860
290,367 273,860
CURRENT ASSETS
Debtors 6 57,737 81,132
Cash at bank and in hand 535,341 354,565
593,078 435,697
Creditors: Amounts Falling Due Within One Year 7 (166,508 ) (172,215 )
NET CURRENT ASSETS (LIABILITIES) 426,570 263,482
TOTAL ASSETS LESS CURRENT LIABILITIES 716,937 537,342
Creditors: Amounts Falling Due After More Than One Year 8 (270,374 ) (36,374 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (38,342 ) (32,102 )
NET ASSETS 408,221 468,866
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 408,219 468,864
SHAREHOLDERS' FUNDS 408,221 468,866
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Page 2
For the year ending 30 November 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
Mr C D Lunn
Director
28 March 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
Tara Roadair Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04498514 . The registered office is Castle Lane Industrial Estate, Melbourne, Derby, DE73 8JB.
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 value added taxes. Turnover is recognised when the services have been provided.
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:
Freehold 2% on cost
Plant & Machinery 25% on cost
Motor Vehicles 20% on reducing balance
Fixtures & Fittings 15% on cost
Computer Equipment 33% 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. 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.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
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2.7. Debtors and creditors receivable or payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
2.8. Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs.
Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2023: 15)
15 15
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2023 15,000
As at 30 November 2024 15,000
Amortisation
As at 1 December 2023 15,000
As at 30 November 2024 15,000
Net Book Value
As at 30 November 2024 -
As at 1 December 2023 -
5. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 December 2023 185,134 374,595 559,729
Additions - 94,982 94,982
Disposals - (91,967 ) (91,967 )
As at 30 November 2024 185,134 377,610 562,744
Depreciation
As at 1 December 2023 44,434 241,435 285,869
Provided during the period 3,703 33,277 36,980
Disposals - (50,472 ) (50,472 )
As at 30 November 2024 48,137 224,240 272,377
Net Book Value
As at 30 November 2024 136,997 153,370 290,367
As at 1 December 2023 140,700 133,160 273,860
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 47,245 77,673
Other debtors 10,492 3,459
57,737 81,132
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 13,782 15,335
Trade creditors 30,785 34,107
Bank loans and overdrafts 45,250 10,128
Other creditors 27,820 27,915
Taxation and social security 48,871 84,730
166,508 172,215
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 55,202 20,724
Bank loans 215,172 15,650
270,374 36,374
9. Secured Creditors
Of the creditors the following amounts are secured.
The factoring account is secured by a debenture securing all monies due to or to become due to the company on any account whatsoever.
The hire purchase balances are secured on the assets to which they relate.
The loan is secured by a fixed and floating charge on all present and future assets.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 68,984 36,059
Bank loans and overdrafts 515,150 259,937
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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11. Directors Advances, Credits and Guarantees
Included within creditors are the following loans to directors:
As at 1 December 2023 Amounts advanced Amounts repaid Amounts written off As at 30 November 2024
£ £ £ £ £
Mr David Courage - 6,970 - - 6,970
The above loan is unsecured, interest free and has been repaid since the year end.
12. Off-Balance Sheet Arrangements
Operating lease commitments at the year end total £35,904 (2023 - £86,502).
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