Tapestry (Partners) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 08455919

Tapestry (Partners) Limited

Filleted Unaudited Financial Statements

31 December 2024

Tapestry (Partners) Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Intangible assets	5	387,184	684,597
Tangible assets	6	112,505	101,988
Investments	7	3,648,191	3,353,590
		------------	------------
		4,147,880	4,140,175

Current assets

Debtors	8	3,619,541	1,811,974
Cash at bank and in hand		681,075	186,992
		------------	------------
		4,300,616	1,998,966

Creditors: amounts falling due within one year	9	3,208,440		2,058,312
		------------		------------
Net current assets/(liabilities)			1,092,176	( 59,346)
			------------	------------
Total assets less current liabilities			5,240,056	4,080,829

Creditors: amounts falling due after more than one year	10	387,404	–
		------------	------------
Net assets		4,852,652	4,080,829
		------------	------------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	4,851,652	4,079,829
	------------	------------
Shareholders funds	4,852,652	4,080,829
	------------	------------

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 .

Tapestry (Partners) Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 18 September 2025 , and are signed on behalf of the board by:

Mr P Le Blanc

Director

Company registration number: 08455919

Tapestry (Partners) 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 1-2 St John's Path, London, EC1M 4DD.

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.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

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.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

	Equipment	-	25% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 36 (2023: 36 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 January 2024	528,942
Additions	–
Disposals of previously acquired businesses	( 141,758)
	---------
At 31 December 2024	387,184
	---------
Amortisation
At 1 January 2024 and 31 December 2024	–
	---------
Carrying amount
At 31 December 2024	387,184
	---------
At 31 December 2023	528,942
	---------

6. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 January 2024	133,399	133,399
Additions	38,481	38,481
	---------	---------
At 31 December 2024	171,880	171,880
	---------	---------
Depreciation
At 1 January 2024	31,411	31,411
Charge for the year	27,964	27,964
	---------	---------
At 31 December 2024	59,375	59,375
	---------	---------
Carrying amount
At 31 December 2024	112,505	112,505
	---------	---------
At 31 December 2023	101,988	101,988
	---------	---------

7. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2024 and 31 December 2024	3,648,191
	------------
Impairment
At 1 January 2024 and 31 December 2024	–
	------------

Carrying amount
At 31 December 2024	3,648,191
	------------
At 31 December 2023	3,648,191
	------------

8. Debtors

	2024	2023
	£	£
Trade debtors	1,968,601	1,834,111
Other debtors	1,650,940	( 22,137)
	------------	------------
	3,619,541	1,811,974
	------------	------------

9. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	503,219	860,153
Other creditors	2,705,221	1,198,159
	------------	------------
	3,208,440	2,058,312
	------------	------------

10. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Other creditors	387,404	–
	---------	----

11. Related party transactions

The company was under the control of its shareholders throughout the current period.