Silverfin false false 31/08/2024 01/09/2023 31/08/2024 J T G Finn 07/08/2020 R E Lannon 07/08/2020 20 May 2025 no description of principal activity 12800349 2024-08-31 12800349 bus:Director1 2024-08-31 12800349 bus:Director2 2024-08-31 12800349 2023-08-31 12800349 core:CurrentFinancialInstruments 2024-08-31 12800349 core:CurrentFinancialInstruments 2023-08-31 12800349 core:ShareCapital 2024-08-31 12800349 core:ShareCapital 2023-08-31 12800349 core:RetainedEarningsAccumulatedLosses 2024-08-31 12800349 core:RetainedEarningsAccumulatedLosses 2023-08-31 12800349 bus:OrdinaryShareClass1 2024-08-31 12800349 bus:OrdinaryShareClass2 2024-08-31 12800349 2023-09-01 2024-08-31 12800349 bus:FilletedAccounts 2023-09-01 2024-08-31 12800349 bus:SmallEntities 2023-09-01 2024-08-31 12800349 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 12800349 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 12800349 bus:Director1 2023-09-01 2024-08-31 12800349 bus:Director2 2023-09-01 2024-08-31 12800349 2022-09-01 2023-08-31 12800349 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 12800349 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 12800349 bus:OrdinaryShareClass2 2023-09-01 2024-08-31 12800349 bus:OrdinaryShareClass2 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 12800349 (England and Wales)

THE ELASTIC TANDEM COMPANY LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2024
Pages for filing with the registrar

THE ELASTIC TANDEM COMPANY LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

THE ELASTIC TANDEM COMPANY LIMITED

COMPANY INFORMATION

For the financial year ended 31 August 2024
THE ELASTIC TANDEM COMPANY LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 August 2024
Directors J T G Finn
R E Lannon
Registered office 37 St Margarets Street
Canterbury
CT1 2TU
United Kingdom
Company number 12800349 (England and Wales)
Accountant Kreston Reeves LLP
37 St Margarets Street
Canterbury
CT1 2TU
United Kingdom

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE ELASTIC TANDEM COMPANY LIMITED

For the financial year ended 31 August 2024

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE ELASTIC TANDEM COMPANY LIMITED (continued)

For the financial year ended 31 August 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Elastic Tandem Company Limited for the financial year ended 31 August 2024 which comprise the Balance Sheet and the related notes 1 to 5 from the Company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.

It is your duty to ensure that The Elastic Tandem Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of The Elastic Tandem Company Limited. You consider that The Elastic Tandem Company Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of The Elastic Tandem Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made solely to the Board of Directors of The Elastic Tandem Company Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of The Elastic Tandem Company Limited and state those matters that we have agreed to state to the Board of Directors of The Elastic Tandem Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Elastic Tandem Company Limited and its Board of Directors as a body for our work or for this report.

Kreston Reeves LLP
Accountant

37 St Margarets Street
Canterbury
CT1 2TU
United Kingdom

20 May 2025

THE ELASTIC TANDEM COMPANY LIMITED

BALANCE SHEET

As at 31 August 2024
THE ELASTIC TANDEM COMPANY LIMITED

BALANCE SHEET (continued)

As at 31 August 2024
Note 2024 2023
£ £
Current assets
Stocks 31,975 31,975
Cash at bank and in hand 3 2,172 3,742
34,147 35,717
Creditors: amounts falling due within one year 4 ( 40,245) ( 40,273)
Net current liabilities (6,098) (4,556)
Total assets less current liabilities (6,098) (4,556)
Net liabilities ( 6,098) ( 4,556)
Capital and reserves
Called-up share capital 5 100 100
Profit and loss account ( 6,198 ) ( 4,656 )
Total shareholders' deficit ( 6,098) ( 4,556)

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of The Elastic Tandem Company Limited (registered number: 12800349) were approved and authorised for issue by the Board of Directors on 20 May 2025. They were signed on its behalf by:

J T G Finn
Director
THE ELASTIC TANDEM COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
THE ELASTIC TANDEM COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Elastic Tandem Company Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 37 St Margarets Street, Canterbury, CT1 2TU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £6,098. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 2,172 3,742

4. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to directors 38,775 38,875
Accruals 1,470 1,398
40,245 40,273

5. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
50 Class A Ordinary shares of £ 1.00 each 50 50
50 Class B Ordinary shares of £ 1.00 each 50 50
100 100