Registered number
09459822
Tape Hospitality Limited
Filleted Accounts
31 August 2024
Tape Hospitality Limited
Company Information
Directors
Mr J. J. Davis
Accountants
K. Amos & Co.
Chartered Certified Accountants
Unit 50b,
St Olav's Court, City Business Centre,
Lower Road,
London,
SE16 2XB.
Principal place of business
17 Hanover Square,
London,
W1S 1HU.
Bankers
Barclays Bank Plc
Registered office
Regina House,
124 Finchley Road,
London,
NW3 5JS.
Registered number
09459822
Tape Hospitality Limited
Registered number: 09459822
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 26,533 37,365
Tangible assets 4 774,946 601,580
801,479 638,945
Current assets
Stocks 124,816 167,905
Debtors 5 1,816,185 567,758
Cash at bank and in hand 133,411 197,608
2,074,412 933,271
Creditors: amounts falling due within one year 6 (1,662,526) (1,643,757)
Net current assets/(liabilities) 411,886 (710,486)
Total assets less current liabilities 1,213,365 (71,541)
Creditors: amounts falling due after more than one year 7 (3,665,819) (3,436,949)
Net assets/(liabilities) (2,452,454) (3,508,490)
Capital and reserves
Called up share capital 1 1
Profit and loss account (2,452,455) (3,508,491)
Shareholders' funds (2,452,454) (3,508,490)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr J. J. Davis
Director
Approved by the board on 28 May 2025
Tape Hospitality Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 48 60
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2023 59,241
Disposals (10,271)
At 31 August 2024 48,970
Amortisation
At 1 September 2023 21,876
Provided during the year 561
At 31 August 2024 22,437
Net book value
At 31 August 2024 26,533
At 31 August 2023 37,365
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Furniture, fixtures & fittings Motor vehicles Total
£ £ £ £ £
Cost
At 1 September 2023 1,575,982 980,544 321,182 128,792 3,006,500
Additions - - - 521,501 521,501
At 31 August 2024 1,575,982 980,544 321,182 650,293 3,528,001
Depreciation
At 1 September 2023 1,335,267 723,613 320,282 25,758 2,404,920
Charge for the year 178,973 38,203 900 130,059 348,135
At 31 August 2024 1,514,240 761,816 321,182 155,817 2,753,055
Net book value
At 31 August 2024 61,742 218,728 - 494,476 774,946
At 31 August 2023 240,715 256,931 900 103,034 601,580
5 Debtors 2024 2023
£ £
Trade debtors 390,714 106,803
Amounts owed by group undertakings and undertakings in which the company has a participating interest 1,284,405 206,873
Other debtors 108,713 208,779
Prepayments 32,353 45,303
1,816,185 567,758
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 48,436 30,680
Trade creditors 1,524,525 916,048
Taxation and social security costs 69,565 569,074
Other creditors and accruals 20,000 127,955
1,662,526 1,643,757
7 Creditors: amounts falling due after one year 2024 2023
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 3,665,819 3,436,949
8 Other information
Tape Hospitality Limited is a private company limited by shares and incorporated in England. Its registered office is:
Regina House,
124 Finchley Road,
London,
NW3 5JS.
Tape Hospitality Limited 09459822 false 2023-09-01 2024-08-31 2024-08-31 VT Final Accounts April 2025 No description of principal activity 09459822 2022-09-01 2023-08-31 09459822 core:WithinOneYear 2023-08-31 09459822 core:AfterOneYear 2023-08-31 09459822 core:ShareCapital 2023-08-31 09459822 core:RetainedEarningsAccumulatedLosses 2023-08-31 09459822 2023-09-01 2024-08-31 09459822 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 09459822 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 09459822 bus:Director1 2023-09-01 2024-08-31 09459822 bus:FRS102 2023-09-01 2024-08-31 09459822 bus:FilletedAccounts 2023-09-01 2024-08-31 09459822 2024-08-31 09459822 core:WithinOneYear 2024-08-31 09459822 core:AfterOneYear 2024-08-31 09459822 core:ShareCapital 2024-08-31 09459822 core:RetainedEarningsAccumulatedLosses 2024-08-31 09459822 2023-08-31 iso4217:GBP xbrli:pure