Tan Sales (London) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 01666847

Tan Sales (London) Limited

Filleted Unaudited Financial Statements

31 December 2024

Tan Sales (London) Limited

Financial Statements

Year ended 31 December 2024

Contents	Page

Balance sheet	1

Notes to the financial statements	3

Tan Sales (London) Limited

Balance Sheet

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5	86,068	89,765
Investments	6	4,902,546	4,272,546
		------------	------------
		4,988,614	4,362,311

Current assets

Stocks		1,933,324	2,376,500
Debtors	7	1,254,600	2,970,312
Cash at bank and in hand		1,549,855	822,514
		------------	------------
		4,737,779	6,169,326

Creditors: amounts falling due within one year	8	1,744,620		3,570,047
		------------		------------
Net current assets			2,993,159	2,599,279
			------------	------------
Total assets less current liabilities			7,981,773	6,961,590

Provisions

Taxation including deferred tax	159,858	26,680
	------------	------------
Net assets	7,821,915	6,934,910
	------------	------------

Capital and reserves

Called up share capital		30,000	30,000
Profit and loss account	9	7,791,915	6,904,910
		------------	------------
Shareholders funds		7,821,915	6,934,910
		------------	------------

These 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 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.

Directors' responsibilities:

- 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 ;

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

Tan Sales (London) Limited

Balance Sheet (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 25 September 2025 , and are signed on behalf of the board by:

Mr P R Shah

Director

Company registration number: 01666847

Tan Sales (London) Limited

Notes to the 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 Kimberley House, 31 Burnt Oak Broadway, Edgware, Greater London, HA8 5LD.

2. Statement of compliance

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

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Deferred tax

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold property	-	Over 10 years
Fixtures, fittings and equipment	-	20% reducing balance
Motor vehicles	-	20% reducing balance

Investments

Investment properties are revalued annually and any surplus or deficit is dealt with through profit and loss. No depreciation is provided in respect of investment properties.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 23 (2023: 23 ).

5. Tangible assets

	Leasehold property	Fixtures, Fittings & Equipment	Motor vehicles	Total
	£	£	£	£
Cost
At 1 January 2024	59,075	439,652	14,929	513,656
Additions	–	17,819	–	17,819
	--------	---------	--------	---------
At 31 December 2024	59,075	457,471	14,929	531,475
	--------	---------	--------	---------
Depreciation
At 1 January 2024	59,075	356,002	8,814	423,891
Charge for the year	–	20,293	1,223	21,516
	--------	---------	--------	---------
At 31 December 2024	59,075	376,295	10,037	445,407
	--------	---------	--------	---------
Carrying amount
At 31 December 2024	–	81,176	4,892	86,068
	--------	---------	--------	---------
At 31 December 2023	–	83,650	6,115	89,765
	--------	---------	--------	---------

6. Investments

	Shares in group undertakings	Investment properties	Other loans	Total
	£	£	£	£
Cost or Valuation
At 1 January 2024	100	2,729,790	1,542,656	4,272,546
Revaluations	–	630,000	–	630,000
	----	------------	------------	------------
At 31 December 2024	100	3,359,790	1,542,656	4,902,546
	----	------------	------------	------------
Impairment
At 1 January 2024 and 31 December 2024	–	–	–	–
	----	------------	------------	------------

Carrying amount
At 31 December 2024	100	3,359,790	1,542,656	4,902,546
	----	------------	------------	------------
At 31 December 2023	100	2,729,790	1,542,656	4,272,546
	----	------------	------------	------------

Five of the investment properties, were valued to £3,230,000 in August 2024 by Anderson Wilde & Harris, an independent firm of chartered surveyors on an open market existing use basis. The remaining properties were valued by the directors on a fair value existing use basis.

On a historical cost basis, the investment properties would have been included at cost as follows:

	2024	2023
	£	£
Investment properties	1,024,092	1,024,092
	------------	------------

7. Debtors

	2024	2023
	£	£
Trade debtors	982,860	2,697,224
Other debtors	271,740	273,088
	------------	------------
	1,254,600	2,970,312
	------------	------------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	1,567,027	3,209,361
Corporation tax	–	217,523
Social security and other taxes	84,263	58,142
Other creditors	93,330	85,021
	------------	------------
	1,744,620	3,570,047
	------------	------------

9. Profit and loss account

	2024	2023
	£	£
Profit and loss account (distributable reserves)	5,409,403	5,152,398
Fair value gains on investment properties	2,382,512	1,752,512
	------------	------------
	7,791,915	6,904,910
	------------	------------

10. Directors' advances, credit and guarantees

	At 1 January 2024	Amount advanced	Amount repaid	At 31 December 2024
	£	£	£	£
Directors' advances	7,074	10,793	(17,161)	706

11. Parent company

The company is a wholly owned subsidiary of Odiron Financial Corporation, a company incorporated in Panama.