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Registration number: 14043058

Tapas Forty Seven Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Tapas Forty Seven Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Tapas Forty Seven Limited

Company Information

Directors

Danielle Roberts

Kellie Hughes

Registered office

47 King Street
Whalley
Clitheroe
Lancashire
BB7 9SP

Accountants

King Street Accounts Office 4 1st Floor
Victory House
The Sidings
Whalley
Lancashire
BB7 9SE

 

Tapas Forty Seven Limited

(Registration number: 14043058)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

72,483

79,798

Current assets

 

Stocks

5

6,500

6,000

Debtors

6

8,091

4,166

Cash at bank and in hand

 

818

7,263

 

15,409

17,429

Creditors: Amounts falling due within one year

7

(42,768)

(19,347)

Net current liabilities

 

(27,359)

(1,918)

Total assets less current liabilities

 

45,124

77,880

Creditors: Amounts falling due after more than one year

7

(114,349)

(90,563)

Net liabilities

 

(69,225)

(12,683)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(69,325)

(12,783)

Shareholders' deficit

 

(69,225)

(12,683)

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 April 2025 and signed on its behalf by:
 

 

Tapas Forty Seven Limited

(Registration number: 14043058)
Balance Sheet as at 30 September 2024

.........................................
Danielle Roberts
Director

.........................................
Kellie Hughes
Director

 

Tapas Forty Seven Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
47 King Street
Whalley
Clitheroe
Lancashire
BB7 9SP

These financial statements were authorised for issue by the Board on 2 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Tapas Forty Seven Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

25 % and 10% Reducing Balance

Short Leasehold land & Buildings

10% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Tapas Forty Seven Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 8).

4

Tangible assets

Short leasehold land and buildings
£

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 October 2023

49,552

39,371

88,923

Additions

59

1,047

1,106

At 30 September 2024

49,611

40,418

90,029

Depreciation

At 1 October 2023

4,955

4,170

9,125

Charge for the year

4,466

3,955

8,421

At 30 September 2024

9,421

8,125

17,546

Carrying amount

At 30 September 2024

40,190

32,293

72,483

At 30 September 2023

44,597

35,201

79,798

Included within the net book value of land and buildings above is £40,190 (2023 - £44,597) in respect of short leasehold land and buildings.
 

 

Tapas Forty Seven Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

5

Stocks

2024
£

2023
£

Other inventories

6,500

6,000

6

Debtors

Current

2024
£

2023
£

Trade debtors

725

1,615

Prepayments

7,266

2,551

Other debtors

100

-

 

8,091

4,166

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

28,141

11,549

Taxation and social security

12,943

6,197

Accruals and deferred income

727

1,600

Other creditors

957

1

42,768

19,347

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Other non-current financial liabilities

114,349

90,563