Company registration number 01410690 (England and Wales)
G. B. TATHAM & CO. LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
G. B. TATHAM & CO. LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 9
G. B. TATHAM & CO. LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
2,735
5,636
Investment property
5
-
0
560,000
Investments
6
17,500
17,500
20,235
583,136
Current assets
Stocks
7
81,635
80,141
Debtors
8
36,209
31,387
Cash at bank and in hand
968,095
556,559
1,085,939
668,087
Creditors: amounts falling due within one year
9
(42,148)
(47,075)
Net current assets
1,043,791
621,012
Total assets less current liabilities
1,064,026
1,204,148
Provisions for liabilities
10
(1,106)
(61,411)
Net assets
1,062,920
1,142,737
Capital and reserves
Called up share capital
8,000
8,000
Capital redemption reserve
2,000
2,000
Profit and loss reserves
1,052,920
1,132,737
Total equity
1,062,920
1,142,737

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

G. B. TATHAM & CO. LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 1 August 2025 and are signed on its behalf by:
A J Tatham
Director
Company Registration No. 01410690
G. B. TATHAM & CO. LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 January 2023
8,000
2,000
1,183,142
1,193,142
Year ended 31 December 2023:
Profit and total comprehensive income for the year
-
-
9,595
9,595
Dividends
-
-
(60,000)
(60,000)
Balance at 31 December 2023
8,000
2,000
1,132,737
1,142,737
Year ended 31 December 2024:
Profit and total comprehensive income for the year
-
-
70,183
70,183
Dividends
-
-
(150,000)
(150,000)
Balance at 31 December 2024
8,000
2,000
1,052,920
1,062,920
G. B. TATHAM & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
1
Accounting policies
Company information

G. B. Tatham & Co. Limited (the 'company') is a private company limited by shares incorporated in England and Wales. Its registered office is Globe House, Eclipse Park, Sittingbourne Road, Maidstone, England, ME14 3EN. Its principal place of business is Meadow Cottage, Long Mill Lane, Platt, Sevenoaks, England TN15 8NA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” ('FRS 102') and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Amounts receivable as income arising on the sale of the company's development property assets is recognised on exchange of contracts.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

 

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
15-25% on written down value
Fixtures, fittings & computer equipment
10-25% on written down value

Remaining land and buildings comprises freehold land which is being carried at undepreciated historic cost. The directors do not believe any impairment adjustment was required at the balance sheet for this class of asset. The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment properties

Investment properties, which are properties held to earn rentals and/or for capital appreciation and the profit arising on the disposal, are measured using the fair value model. The company's investment property was disposed of in the year to 31 December 2024 so the surplus on disposal is recognised in the profit and loss account.

1.5
Fixed asset investments

Fixed asset investments comprise a long-term loan made to a client in 1994, being a proportion of their property purchase price. The directors have recognised the investment at its initial cost to the company, net of any impairment losses. An impairment review is carried out at the end of each reporting end date.

 

G. B. TATHAM & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.6
Impairment of fixed assets

At each reporting period end date, the directors review the carrying amounts of the company's tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, an estimate of the recoverable amount of the cash-generating unit to which the asset belongs is made.

Recoverable amount is the higher of fair value less costs to sell, and value in use.

 

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Stocks

Work in progress comprises property development stock which has been stated at the lower of direct cost plus attributable overheads, and net realisable value.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

1.9
Financial instruments

The company has applied the provisions of Section 11 ‘Basic Financial Instruments’ to all its financial instruments, which are classified as basic financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting end date.

G. B. TATHAM & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -
Basic financial liabilities

Basic financial liabilities, including creditors and loans 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.

 

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.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax is provided in respect of the tax effect of all material timing differences that have originated but not reversed at the balance sheet date.

 

A deferred tax asset is regarded as recoverable and therefore recognised only when, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

 

Deferred tax is measured on a non-discounted basis, at the average tax rates that are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

1.12
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

 

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

G. B. TATHAM & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 7 -
1.13
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14

Foreign currency translation

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
4
4
G. B. TATHAM & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2024
2,279
31,590
33,869
Disposals
-
0
(25,140)
(25,140)
At 31 December 2024
2,279
6,450
8,729
Depreciation and impairment
At 1 January 2024
-
0
28,233
28,233
Depreciation charged in the year
-
0
131
131
Eliminated in respect of disposals
-
0
(22,370)
(22,370)
At 31 December 2024
-
0
5,994
5,994
Carrying amount
At 31 December 2024
2,279
456
2,735
At 31 December 2023
2,279
3,357
5,636
5
Investment property
2024
£
Fair value
At 1 January 2024
560,000
Disposals
(560,000)
At 31 December 2024
-
0
6
Fixed asset investments
2024
2023
£
£
Unlisted investments - at cost
17,500
17,500

Fixed asset investments comprise a long-term loan made to a client in 1994, being a proportion of their property purchase price. Repayment falls due to the company when the client either vacates or sells their property, whichever occurs first. The loan is interest free and secured. The amount repayable to the company will be the same proportion of the property value at that time. The directors have recognised the investment at its initial cost to the company, net of any impairment losses. An impairment review is carried out at the end of each reporting end date, and in the directors' opinion, no impairment loss needed to be recognised at 31 December 2024.

G. B. TATHAM & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
7
Stocks
2024
2023
£
£
Work in progress
81,635
80,141
8
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,513
-
0
Other debtors
34,696
31,387
36,209
31,387
9
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
30,207
34,917
Taxation and social security
2,360
3,075
Other creditors
5,138
5,136
Accruals and deferred income
4,443
3,947
42,148
47,075
10
Provisions for liabilities
2024
2023
£
£
Remedial work
1,106
1,106
Deferred tax liabilities (on revalued investment property)
-
0
60,305
1,106
61,411

Remedial work

A provision has been made by the directors for potential remedial work on previously sold properties. It is anticipated that any work will be carried out within three years of sale completion.

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