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Registered number: 10730560
THE FELPHAM TAP LIMITED
ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025
Prepared By:
Reed-Ransted
Chartered Accountants
2 Burhill Grove
Pinner
Middlesex
HA5 3DW
THE FELPHAM TAP LIMITED
ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025
DIRECTORS
MS Lane
G Gainey
REGISTERED OFFICE
2 Burhill Grove
Pinner
Middlesex
HA5 3DW
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 10730560
PLACE OF BUSINESS
The Thatched House, 8 Limmer Lane, Felpham, PO22 7EJ
ACCOUNTANTS
Reed-Ransted
Chartered Accountants
2 Burhill Grove
Pinner
Middlesex
HA5 3DW
THE FELPHAM TAP LIMITED
ACCOUNTS
FOR THEYEARENDED31 MARCH 2025
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
THE FELPHAM TAP LIMITED
BALANCE SHEET AT31 March 2025
Registered number: 10730560
20252024
Notes££
FIXED ASSETS
Tangible assets2533,176405,397
CURRENT ASSETS
Debtors49001,810
Current Asset Investments557,475-
Cash at bank and in hand60,52381,548
118,89883,358
CREDITORS: Amounts falling due within one year639,52033,942
NET CURRENT ASSETS79,37849,416
TOTAL ASSETS LESS CURRENT LIABILITIES612,554454,813
CREDITORS: Amounts falling due after more than one year7690,000690,000
PROVISIONS FOR LIABILITIES AND CHARGES916,775-
NET LIABILITIES(94,221)(235,187)
CAPITAL AND RESERVES
Called up share capital101,0001,000
Revaluation reserve1f,1167,098-
Profit and loss account(162,319)(236,187)
SHAREHOLDERS' FUNDS(94,221)(235,187)
For the year ending 31 March 2025 the company was entitled to exemption 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on12 September 2025and signed on their behalf by
.............................
MS Lane
Director
THE FELPHAM TAP LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Going Concern
The company had negative net assets at the period end and is reliant on the financial support of the directors. These financial statements have been prepared on the going concern basis on the assumpption that the support of the directors will continue for the foreseeable future.
1c. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Land And Buildingsstraight line 2%
Equipmentreducing balance 25%
1d. Investment Properties
Investment properties are included in the financial statements at open market value. No depreciation is provided on such property in compliance with the Financial Reporting Standard for Smaller Entities. This departure from Companies Act requirements is necessary to show a true and fair view.
1e. Government Grants
Government grants are recognised in profit and loss in the period for which they are receivable.
1f. Revaluation Reserve
Surpluses or deficits arising on the revaluation of individual fixed assets other than investment properties are credited or debited to a non-distributible reserve known as the revaluation reserve (see also note 11).
Revaluation deficits in excess of the amount of prior revaluation surpluses on the same asset are charged to the profit and loss account.
THE FELPHAM TAP LIMITED
2. TANGIBLE FIXED ASSETS
Land And
BuildingsEquipmentTotal
£££
Cost
At 1 April 2024457,90256,609514,511
Transfers(457,902)-(457,902)
At 31 March 2025-56,60956,609
Depreciation
At 1 April 202463,40745,707109,114
Transfers(63,407)-(63,407)
For the year-2,7262,726
At 31 March 2025-48,43348,433
Net Book Amounts
At 31 March 2025-8,1768,176
At 31 March 2024394,49510,902405,397
The directors consider that the market value of investment property at 31 March 2025 is £525,000.
The original cost of investment property was £457,902.
3. INVESTMENT PROPERTIES
Investment
PropertiesTotal
££
Fair value
Revaluation67,09867,098
Transfers457,902457,902
At 31 March 2025525,000525,000
4. DEBTORS 20252024
££
Amounts falling due within one year
Other debtors9001,810
9001,810
THE FELPHAM TAP LIMITED
5. CURRENT ASSET INVESTMENTS
20252024
££
Other investments57,475-
57,475-
Current asset investments are stated at cost.
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20252024
££
UK corporation tax5,508-
VAT2,0221,952
Other creditors30,74030,740
Accruals1,2501,250
39,52033,942
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20252024
££
Director's loans690,000690,000
690,000690,000
8. EMPLOYEES
20252024
No.No.
Average number of employees (including directors}22
THE FELPHAM TAP LIMITED
9. PROVISIONS FOR LIABILITIES 20252024
££
Deferred taxation16,775-
16,775-
10. SHARE CAPITAL 20252024
££
Allotted, issued and fully paid:
100 Ordinary shares of £10 each1,0001,000
1,0001,000
Called-up share capital unpaid at the end of the period was £900.
11. REVALUATION RESERVE 20252024
££
Revaluation reserve67,098-
67,098-
12. CONTROLLING PARTY
The company is controlled by MS Lane and G Gainey by virtue of their equal shareholdings.
13. RELATED PARTY TRANSACTIONS
Creditors falling due after one year includes loans from the directors of £690,000 (2024: £690,000). The company pays interest on these loans at the rate of 0% (2024: 0% ) per annum.