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COMPANY REGISTRATION NUMBER: 05715867
Tang Finance Limited
Filleted Unaudited Abridged Financial Statements
31 December 2024
Tang Finance Limited
Abridged Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
£
Current assets
Debtors
12,105
142,383
Cash at bank and in hand
998
998
--------
---------
13,103
143,381
Creditors: amounts falling due within one year
13,102
61,774
--------
---------
Net current assets
1
81,607
----
--------
Total assets less current liabilities
1
81,607
----
--------
Net assets
1
81,607
----
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
81,606
----
--------
Shareholder funds
1
81,607
----
--------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the 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.
Director's responsibilities:
- The member has not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.
Tang Finance Limited
Abridged Statement of Financial Position (continued)
31 December 2024
These abridged financial statements were approved by the board of directors and authorised for issue on 18 July 2025 , and are signed on behalf of the board by:
Mr I Parkes
Director
Company registration number: 05715867
Tang Finance Limited
Notes to the Abridged Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 George Street, Wolverhampton, West Midlands, WV2 4DG.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Financial instruments
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 entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Related party transactions
At 31 December 2024 the company had outstanding loans due to its shareholder of £Nil (2023: £44,770) included within other creditors. Also at the year end the company had an outstanding loans due to its related companies of £12,105 (2023: £143,523) included in other debtors. All related party loans are interest-free and repayable on demand.