The Tackle Tavern Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 11229206

THE TACKLE TAVERN LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

28 February 2025

THE TACKLE TAVERN LIMITED

BALANCE SHEET

28 February 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5		30,971		31,380

Current assets

Stocks		995,533	970,000
Debtors	6	63,117	98,929
Cash at bank and in hand		353,017	156,229
		-----------	-----------
		1,411,667	1,225,158

Creditors: amounts falling due within one year	7	( 593,229)		( 712,481)
		-----------		-----------
Net current assets			818,438		512,677
			--------		--------
Total assets less current liabilities			849,409		544,057

Creditors: amounts falling due after more than one year	8		( 2,502)		( 12,501)

Provisions

Taxation including deferred tax	( 6,639)	( 6,466)
	--------	--------
Net assets	840,268	525,090
	--------	--------

Capital and reserves

Called up share capital	9	1	1
Profit and loss account		840,267	525,089
		--------	--------
Shareholders funds		840,268	525,090
		--------	--------

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 profit and loss account has not been delivered.

For the year ending 28 February 2025 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 .

THE TACKLE TAVERN LIMITED

BALANCE SHEET (continued)

28 February 2025

These financial statements were approved by the board of directors and authorised for issue on 30 September 2025 , and are signed on behalf of the board by:

D Stroud-Southey

Director

Company registration number: 11229206

THE TACKLE TAVERN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 28 FEBRUARY 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Crossways Business Centre, Bicester Road, Kingswood, Aylesbury, HP18 0RA, England.

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. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest pound. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and 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:

L'hold improvements	-	Over life of lease
Fixtures and fittings	-	20% straight line
Motor vehicles	-	20% straight line

Impairment of fixed assets

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.

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

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. Basic financial liabilities, which include trade, other payables and a bank loan are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year of less. If not, then they are presented as non-current liabilities. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 11 (2024: 9 ).

5. Tangible assets

	L'hold improvements	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 March 2024	27,350	19,474	7,100	53,924
Additions	–	4,220	6,000	10,220
Disposals	–	–	( 7,100)	( 7,100)
	-------	-------	------	-------
At 28 February 2025	27,350	23,694	6,000	57,044
	-------	-------	------	-------
Depreciation
At 1 March 2024	16,087	3,999	2,458	22,544
Charge for the year	1,821	4,166	1,420	7,407
Disposals	–	–	( 3,878)	( 3,878)
	-------	-------	------	-------
At 28 February 2025	17,908	8,165	–	26,073
	-------	-------	------	-------
Carrying amount
At 28 February 2025	9,442	15,529	6,000	30,971
	-------	-------	------	-------
At 29 February 2024	11,263	15,475	4,642	31,380
	-------	-------	------	-------

6. Debtors

	2025	2024
	£	£
Other debtors	63,117	98,929
	-------	-------

Included in other debtors is £15,000 (2024: £15,000) which is due after more than one yea r.

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	10,000	10,000
Trade creditors	376,362	515,933
Corporation tax	132,339	131,975
Social security and other taxes	6,771	9,080
Other creditors	67,757	45,493
	--------	--------
	593,229	712,481
	--------	--------

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

	2025	2024
	£	£
Bank loans and overdrafts	2,502	12,501
	------	-------

9. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 0.01 each	100	1	100	1
	----	----	----	----

10. Operating leases and off balance sheet arrangements

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	50,000	50,000
Later than 1 year and not later than 5 years	200,000	200,000
Later than 5 years	16,667	66,667
	--------	--------
	266,667	316,667
	--------	--------

The commitments are in relation to an operating lease for the rent of business property.

11. Directors' advances, credits and guarantees

During the year £25,932 (2024: £nil) was advanced to the directors of the company. The amount was repayable on demand. During the year £nil (2024: £nil) was repaid by the directors of the company. Interest has been charged at the official rate. The amount owed by the directors at the year-end was £25,932 (2024: £nil).