T.P. Tate Limited


Directors	Frances Hazel Tate
	Thomas Patrick Tate


Company Secretary	TATE, Frances Hazel


Registered Address	Castle Farm Paradise Lane
	Hazlewood
	Tadcaster
	LS24 9NJ


Registered Number	01375799 (England and Wales)

Statement of Financial Position
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		569,522		577,967
			569,522		577,967
Current assets
Stocks		90,261		109,341
Debtors	4	13,563		9,985
Cash at bank and on hand		20,008		8,515
		123,832		127,841
Creditors amounts falling due within one year	5	(2,518,003)		(2,395,352)
Net current assets (liabilities)			(2,394,171)		(2,267,511)
Total assets less current liabilities			(1,824,649)		(1,689,544)
Net assets			(1,824,649)		(1,689,544)
Capital and reserves
Called up share capital			100,000		100,000
Profit and loss account			(1,924,649)		(1,789,544)
Shareholders' funds			(1,824,649)		(1,689,544)

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 15 September 2025, and are signed on its behalf by:

Thomas Patrick Tate
Director
Registered Company No. 01375799

T.P. Tate Limited

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Going concern
	The directors believe that the company has adequate resources to continue in operational existence for the foreseeable future. The company continues to have the support of the directors and shareholders and therefore continue to adopt the going concern basis of accounting in preparing the financial statements.

	Turnover policy
	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/or 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.

Turnover policy

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/or 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.

	Employee benefits
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Employee benefits

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement. Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	50
Plant and machinery	15	-
Fixtures and fittings	15	-
Vehicles	25	-

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement

	Financial instruments
	The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	4		4

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Fixtures & fittings	Total
	£	£	£	£	£
Cost or valuation
At 01 January 24	647,565	151,055	201,985	179,471	1,180,076
At 31 December 24	647,565	151,055	201,985	179,471	1,180,076
Depreciation and impairment
At 01 January 24	90,044	151,055	183,164	177,846	602,109
Charge for year	3,295	-	4,706	444	8,445
At 31 December 24	93,339	151,055	187,870	178,290	610,554
Net book value
At 31 December 24	554,226	-	14,115	1,181	569,522
At 31 December 23	557,521	-	18,821	1,625	577,967


	Included in freehold property is freehold land of £461,631 (2023 - £461,631), representing the estimated cost of land, which has not been depreciated.

4.	Debtors: amounts due within one year

	2024	2023
	£	£
Other debtors	6,424	2,914
Prepayments and accrued income	7,139	7,071
Total	13,563	9,985


	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.

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.

5.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	3,459	2,819
Bank borrowings and overdrafts	877	1,880
Amounts owed to related parties	2,244,162	2,219,162
Other creditors	260,326	160,326
Accrued liabilities and deferred income	9,179	11,165
Total	2,518,003	2,395,352


	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.

6.	Related party transactions
	Included in other creditors due within one year is an amount due to the ultimate parent undertaking, Tate of Leeds Limited of £846,888 (2023 - £846,888). The balance is interest free and repayable on demand. Included in creditors within one year is an amount due to Tate Properties Limited, a fellow subsidiary of £1,397,274 (2023 - £1,372,274). Included in other creditors is an amount owing to T P Tate of £260,326 (2023 - £160,326). This balance is interest free and repayable on demand.

Related party transactions

Included in other creditors due within one year is an amount due to the ultimate parent undertaking, Tate of Leeds Limited of £846,888 (2023 - £846,888). The balance is interest free and repayable on demand.

Included in creditors within one year is an amount due to Tate Properties Limited, a fellow subsidiary of £1,397,274 (2023 - £1,372,274).

Included in other creditors is an amount owing to T P Tate of £260,326 (2023 - £160,326). This balance is interest free and repayable on demand.