Silverfin false false 31/10/2024 01/11/2023 31/10/2024 Gordon Trent Stead 09/07/2001 Vaun Kathleen Wilkins 03/02/2003 Ms Vaun Kathleen Wilkins 27 May 2025 The principal activity of the Company during the financial year was that of a development and holding company. The Company ceased to trade on 31 October 2024. 04242489 2024-10-31 04242489 bus:Director1 2024-10-31 04242489 bus:Director2 2024-10-31 04242489 2023-10-31 04242489 core:CurrentFinancialInstruments 2024-10-31 04242489 core:CurrentFinancialInstruments 2023-10-31 04242489 core:ShareCapital 2024-10-31 04242489 core:ShareCapital 2023-10-31 04242489 core:RetainedEarningsAccumulatedLosses 2024-10-31 04242489 core:RetainedEarningsAccumulatedLosses 2023-10-31 04242489 core:CostValuation 2023-10-31 04242489 core:CostValuation 2024-10-31 04242489 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2024-10-31 04242489 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2023-10-31 04242489 bus:OrdinaryShareClass1 2024-10-31 04242489 bus:OrdinaryShareClass2 2024-10-31 04242489 2023-11-01 2024-10-31 04242489 bus:FilletedAccounts 2023-11-01 2024-10-31 04242489 bus:SmallEntities 2023-11-01 2024-10-31 04242489 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 04242489 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 04242489 bus:Director1 2023-11-01 2024-10-31 04242489 bus:Director2 2023-11-01 2024-10-31 04242489 bus:Director3 2023-11-01 2024-10-31 04242489 2022-11-01 2023-10-31 04242489 bus:OrdinaryShareClass1 2023-11-01 2024-10-31 04242489 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 04242489 bus:OrdinaryShareClass2 2023-11-01 2024-10-31 04242489 bus:OrdinaryShareClass2 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04242489 (England and Wales)

TABITHA LIMITED

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

TABITHA LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

TABITHA LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 October 2024
TABITHA LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 October 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 257,376 385,000
257,376 385,000
Current assets
Debtors 4 11,513 21,746
Cash at bank and in hand 65,014 200,334
76,527 222,080
Creditors: amounts falling due within one year 5 ( 259,626) ( 368,881)
Net current liabilities (183,099) (146,801)
Total assets less current liabilities 74,277 238,199
Net assets 74,277 238,199
Capital and reserves
Called-up share capital 6 10,000 10,000
Profit and loss account 64,277 228,199
Total shareholders' funds 74,277 238,199

For the financial year ending 31 October 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 Tabitha Limited (registered number: 04242489) were approved and authorised for issue by the Board of Directors on 27 May 2025. They were signed on its behalf by:

Gordon Trent Stead
Director
Ms Vaun Kathleen Wilkins
Director
TABITHA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
TABITHA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 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

Tabitha 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 Splatford Barton, Kennford, Exeter, EX6 7XY, 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

In 2024 the directors made the decision that the Company would cease trading in October 2024. As a result the financial statements have been prepared on a basis other than the going concern basis of preparation. The directors have included in the financial statements any provision for future costs of terminating the business, which were committed to at the balance sheet date and where appropriate the Company's assets have been written down to their net realisable value.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position 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 debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

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.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

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

3. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 November 2023 385,000
Impairment (127,624)
At 31 October 2024 257,376
Carrying value at 31 October 2024 257,376
Carrying value at 31 October 2023 385,000

4. Debtors

2024 2023
£ £
Amounts owed by directors 9,641 13,983
VAT recoverable 0 480
Corporation tax 1,872 6,933
Other debtors 0 350
11,513 21,746

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 0 53
Amounts owed to own subsidiaries 212,257 278,257
Amounts owed to directors 17,518 36,035
Accruals 2,565 2,250
Other creditors 27,286 52,286
259,626 368,881

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
5,000 Ordinary A 1 GBP shares of £ 1.00 each 5,000 5,000
5,000 Ordinary B 1 GBP shares of £ 1.00 each 5,000 5,000
10,000 10,000

7. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed by a director 9,641 13,983
Amounts due to a director 17,518 36,035

Interest is charged on overdrawn balances at HMRC official rate and there are no set repayment terms.

Dividends of £27,966 (2023: £101,574) were paid to the directors during the year.