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Registered Number: 11502990
England and Wales

 

 

 

TALE OF TWO LIMITED



Unaudited Financial Statements
 


Period of accounts

Start date: 01 October 2023

End date: 30 September 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 60,000    75,000 
Tangible fixed assets 4 217,691    247,338 
277,691    322,338 
Current assets      
Stocks 85,594    240,796 
Debtors 796,673    961,910 
Cash at bank and in hand 295,823    605,396 
1,178,090    1,808,102 
Creditors: amount falling due within one year (549,761)   (1,220,557)
Net current assets 628,329    587,545 
 
Total assets less current liabilities 906,020    909,883 
Creditors: amount falling due after more than one year (310,836)   (301,795)
Provisions for liabilities (32,248)   (34,042)
Net assets 562,936    574,046 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 562,836    573,946 
Shareholders' funds 562,936    574,046 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 17 June 2025 and were signed on its behalf by:


-------------------------------
T D Lince
Director
1
General Information
Tale of Two Limited is a private company, limited by shares, registered in England and Wales, registration number 11502990, registration address 17 Old Courts Road, Brigg, DN20 8JD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred taxation
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Office Equipment 20% Straight Line
Fixtures and Fittings 10% Reducing Balance
Computer Equipment 20% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 1 (2023 : 8).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 October 2023 150,000    150,000 
Additions  
Disposals  
At 30 September 2024 150,000    150,000 
Amortisation
At 01 October 2023 75,000    75,000 
Charge for year 15,000    15,000 
On disposals  
At 30 September 2024 90,000    90,000 
Net book values
At 30 September 2024 60,000    60,000 
At 30 September 2023 75,000    75,000 


4.

Tangible fixed assets

Cost or valuation Office Equipment   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 October 2023 33,388    359,122    7,293    399,803 
Additions 19,625        19,625 
Disposals (10,035)       (10,035)
At 30 September 2024 42,978    359,122    7,293    409,393 
Depreciation
At 01 October 2023 11,103    139,360    2,002    152,465 
Charge for year 8,626    30,353    1,493    40,472 
On disposals (1,235)       (1,235)
At 30 September 2024 18,494    169,713    3,495    191,702 
Net book values
Closing balance as at 30 September 2024 24,484    189,409    3,798    217,691 
Opening balance as at 01 October 2023 22,285    219,762    5,291    247,338 


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