3 3 Takehot Limited 02295480 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is development of building projects (SIC code: 41100). Digita Accounts Production Advanced 6.30.9574.0 true 02295480 2024-01-01 2024-12-31 02295480 2024-12-31 02295480 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2024-12-31 02295480 core:CurrentFinancialInstruments 2024-12-31 02295480 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 02295480 core:FurnitureFittingsToolsEquipment 2024-12-31 02295480 bus:SmallEntities 2024-01-01 2024-12-31 02295480 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 02295480 bus:FilletedAccounts 2024-01-01 2024-12-31 02295480 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 02295480 bus:RegisteredOffice 2024-01-01 2024-12-31 02295480 bus:Director1 2024-01-01 2024-12-31 02295480 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 02295480 core:FurnitureFittings 2024-01-01 2024-12-31 02295480 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 02295480 countries:UnitedKingdom 2024-01-01 2024-12-31 02295480 2023-12-31 02295480 core:FurnitureFittingsToolsEquipment 2023-12-31 02295480 2023-01-01 2023-12-31 02295480 2023-12-31 02295480 core:CurrentFinancialInstruments 2023-12-31 02295480 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 02295480 core:FurnitureFittingsToolsEquipment 2023-12-31 xbrli:pure iso4217:GBP

Registration number: 02295480

Takehot Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Takehot Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 8

 

Takehot Limited

(Registration number: 02295480)
Statement of Financial Position as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

43,717

50,193

Investment property

5

3,375,000

3,375,000

Other financial assets

6

7,000

83,265

 

3,425,717

3,508,458

Current assets

 

Debtors

7

18,655

80,195

Cash at bank and in hand

 

48,235

54,874

 

66,890

135,069

Creditors: Amounts falling due within one year

8

(459,055)

(423,210)

Net current liabilities

 

(392,165)

(288,141)

Total assets less current liabilities

 

3,033,552

3,220,317

Provisions for liabilities

(8,041)

(9,537)

Net assets

 

3,025,511

3,210,780

Capital and reserves

 

Called up share capital

1,175,000

1,175,000

Revaluation reserve

681,204

681,204

Retained earnings

1,169,307

1,354,576

Shareholders' funds

 

3,025,511

3,210,780

For the financial year ending 31 December 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 Statement of Comprehensive Income.

Approved and authorised by the Board on 15 May 2025 and signed on its behalf by:
 

ME Sciama
Director

   
     
 

Takehot Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

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

The address of its registered office is:
Moss Rose Mill
Springfield Road
Bolton
Lancashire
BL4 8JW
United Kingdom

These financial statements were authorised for issue by the Board on 15 May 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.

Judgements

The preparation of the financial statements require management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Significant judgements

The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:

- the company's investment property is carried in the financial statements at fair value. This fair value is determined by the director's assessment of the attainable market value of similar properties in the region. As such the director's judgement in respect of market value may be materially different from the carrying value of the investment property.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

 

Takehot Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or
substantively enacted by the reporting date in the countries where the company operates and generates taxable
income.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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 and Fittings

10% - 25% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

 

Takehot Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024


Impairment of Fixed Assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

 

Takehot Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Financial instruments


Classification

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

 Recognition and measurement

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.


 Impairment

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Takehot Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

82,621

82,621

At 31 December 2024

82,621

82,621

Depreciation

At 1 January 2024

32,428

32,428

Charge for the year

6,476

6,476

At 31 December 2024

38,904

38,904

Carrying amount

At 31 December 2024

43,717

43,717

At 31 December 2023

50,193

50,193

5

Investment properties

2024
£

At 1 January

3,375,000

At 31 December

3,375,000


Comparable historical cost for freehold investment properties included at valuation:

In 2021, the freehold investment properties were revalued by the directors at the end of the accounting period, after taking account of an independent, professional valuation carried out in August 2021, which resulted in a surplus of £775,000 arising in the year ended 31 December 2021. All other fixed assets are stated at cost less depreciation.

 

Takehot Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 January 2024

83,265

83,265

Fair value adjustments

(76,265)

(76,265)

At 31 December 2024

7,000

7,000

Impairment

Carrying amount

At 31 December 2024

7,000

7,000

7

Debtors

Current

2024
£

2023
£

Trade debtors

12,524

11,847

Prepayments

6,131

55,630

Other debtors

-

12,718

 

18,655

80,195

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

12,812

104,290

Taxation and social security

40,673

25,744

Accruals and deferred income

65,570

43,176

Other creditors

340,000

250,000

459,055

423,210

 

Takehot Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

9

Related party transactions

During the year dividends totalling £189,000 (2023: £189,000) were paid to the directors and their wives. At 31 December 2024 £Nil (2023: £Nil) was owed to shareholders.

Other creditors includes a loan repayable to a company under common control of £340,000 (2023: £250,000). The loan is unsecured, repayable on demand and no interest was charged in the current or previous year.