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Registration number: 11698640

Taw River Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Taw River Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 8

 

Taw River Limited

(Registration number: 11698640)
Statement of Financial Position as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

18,800

19,994

Other financial assets

5

100

100

 

18,900

20,094

Current assets

 

Stocks

6

6,825

6,500

Debtors

7

27,673

29,884

Cash at bank and in hand

 

25,316

18,382

 

59,814

54,766

Creditors: Amounts falling due within one year

8

(49,103)

(50,582)

Net current assets

 

10,711

4,184

Total assets less current liabilities

 

29,611

24,278

Provisions for liabilities

(1,094)

(1,092)

Net assets

 

28,517

23,186

Capital and reserves

 

Called up share capital

300

300

Profit and loss account

28,217

22,886

Shareholders' funds

 

28,517

23,186

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 28 August 2025 and signed on its behalf by:
 


Mr Paul Jones
Director

 

Taw River Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7C Cranmere Road
Okehampton
Devon
EX20 1UE

Principal activity

The principal activity of the company is public house, cafe and shop

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

 

Taw River Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fittings, fixtures and equipment

20% reducing balance

Motor Vehicles

25% reducing balance

 

Taw River Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2

Accounting policies (continued)

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Taw River Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2

Accounting policies (continued)

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2023 - 8).

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2023

7,463

14,181

8,750

30,394

Additions

-

1,945

-

1,945

At 30 November 2024

7,463

16,126

8,750

32,339

Depreciation

At 1 December 2023

-

6,572

3,828

10,400

Charge for the year

-

1,908

1,231

3,139

At 30 November 2024

-

8,480

5,059

13,539

Carrying amount

At 30 November 2024

7,463

7,646

3,691

18,800

At 30 November 2023

7,463

7,609

4,922

19,994

Included within the net book value of land and buildings above is £7,463 (2023 - £7,463) in respect of freehold land and buildings.
 

 

Taw River Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 December 2023

100

100

At 30 November 2024

100

100

Impairment

Carrying amount

At 30 November 2024

100

100

6

Stocks

2024
£

2023
£

Finished goods and goods for resale

6,825

6,500

7

Debtors

2024
£

2023
£

Other debtors

27,673

18,992

Prepayments

-

10,892

27,673

29,884

 

Taw River Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

9,171

-

Trade creditors

 

15,094

21,414

Taxation and social security

 

17,368

12,508

Accruals and deferred income

 

7,297

16,069

Other creditors

 

173

591

 

49,103

50,582

9

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

10

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

9,171

-

11

Related party transactions

Transactions with directors

2024

At 1 December 2023
£

Advances to director
£

Repayments by director
£

At 30 November 2024
£

Director

5,901

55,557

(46,789)

14,669

Director

12,746

21,616

(21,658)

12,704

 

18,647

77,173

(68,447)

27,373

       

 

 

Taw River Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

11

Related party transactions (continued)

2023

At 1 December 2022
£

Advances to director
£

Repayments by director
£

At 30 November 2023
£

Director

7,362

36,141

(37,602)

5,901

Director

20,851

21,523

(29,628)

12,746

28,213

57,664

(67,230)

18,647