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Registered number: 09742958
TANNER KROLLE INTERNATIONAL LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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TANNER KROLLE INTERNATIONAL LIMITED
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CONTENTS
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Statement of Financial Position
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Statement of Changes in Equity
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Notes to the Financial Statements
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TANNER KROLLE INTERNATIONAL LIMITED
REGISTERED NUMBER:09742958
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STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024
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Debtors: amounts falling due after more than one year
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Net current assets/(liabilities)
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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TANNER KROLLE INTERNATIONAL LIMITED
REGISTERED NUMBER:09742958
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STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 July 2026.
The notes on pages 4 to 10 form part of these financial statements.
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TANNER KROLLE INTERNATIONAL LIMITED
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STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024
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Shares issued during the year
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The notes on pages 4 to 10 form part of these financial statements.
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TANNER KROLLE INTERNATIONAL LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
Tanner Krolle International Limited is a private limited liability company incorporated in England and Wales, with its registered office at 2nd Floor Connaught House,1-3 Mount Street (entrance via Davies Street), London, W1K 3NB. The Company’s business address is 127 Mount Street, London, W1K 3NT.
The principal activity of the Company is to supply finest luggage, handbags and accessories.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
As at 30 June 2024, the Company had accumulated losses of £4,888,082 (2023 - £4,183,472). Losses have continued since the year end, albeit at a reduced level based on management accounts. The directors have prepared projected cashflow forecasts for the period ending 12 months from the date of approval of these financial statements. The Company continues to receive financial support from entities under common control, and the directors have received confirmation that this support will continue for the foreseeable future.
On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of that support.
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Exemption from preparing consolidated financial statements
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The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.
Turnover comprises revenue recognised by the Company in respect of goods and services provided during the year, exclusive of Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer.
Management and service charges receivable are recognised in the period to which they relate in accordance with the terms of the relevant agreements.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
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TANNER KROLLE INTERNATIONAL LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.
Depreciation is provided on the following basis:
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Short-term leasehold property
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Short term leasehold property relate to development of a new restaurant site which has not yet been completed. No depreciation is to be provided for until the development is complete and the company starts to generate income from its use.
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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Investments in subsidiaries are measured at cost less accumulated impairment.
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
Debtors are measured at transaction price, less any impairment. Where recovery is expected beyond 12 months from the balance sheet date, amounts are classified as due after more than one year.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty.
Short term creditors are measured at the transaction price.
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TANNER KROLLE INTERNATIONAL LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
2.Accounting policies (continued)
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is £ Sterling.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
Defined contribution pension plan
The Company contributes to 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 payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
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TANNER KROLLE INTERNATIONAL LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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The average monthly number of employees, including directors, during the year was 4 (2023 - 5).
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Short-term leasehold property
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Charge for the year on owned assets
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Investments in subsidiary companies
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TANNER KROLLE INTERNATIONAL LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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Finished goods and goods for resale
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Due after more than one year
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Called up share capital not paid
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Amounts owed to group companies
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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Accruals and deferred income
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TANNER KROLLE INTERNATIONAL LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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Allotted, called up and fully paid
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120,129 (2023 - 20,000) Ordinary A shares of £0.001 each
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5,200 (2023 - 44,583) Ordinary B shares of £0.001 each
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11,966 (2023 - Nil) Ordinary C shares of £0.001 each
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Nil (2023 - 25.000) Ordinary D shares of £0.001 each
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Allotted, called up and partly paid
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30,000 (2023 - 30,000) Ordinary C shares of £0.001 each
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A, B, and C Ordinary Shares rank pari passu in all respects.
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During the year, by way of special resolution the following share changes took place:
• 25,000 Ordinary D shares of £0.001 each were redesignated as 7,834 Ordinary A shares, 5,200 Ordinary B shares and 11,966 Ordinary C shares of £0.001 each.
• 44,583 Ordinary B shares of £0.001 each were redesignated as 44,583 Ordinary A shares of £0.001 each
Also during the year, the Company allotted 47,712 Ordinary A shares of £0.001 each at a premium, for aggregate proceeds of £3,989,854. The consideration comprised:
• a cash subscription of £47; and
• the capitalisation of amounts owed to group companies of £3,989,807, converted to equity at face value.
The share premium of £3,989,807 arising on the issue has been credited to the share premium account.
The comparative figures in the Statement of Comprehensive Income have been restated to reflect changes in the Company's internal classification of management fees receivable between administration expenses and turnover to more accurately reflect the nature of these management fees an increase in turnover and a corresponding increase in administration expenses of £172,575 for the year ending 30 June 2023. The reported loss for the year is unchanged.
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TANNER KROLLE INTERNATIONAL LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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Related party transactions
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Included in other debtors are amounts owed from One Luxury Group Advisers LLP of £222,791 (2023 - £126,710), TK Investments Limited of £58,620 (2023 - £Nil) and Automat Limited of £105,113 (2023 - £Nil). These amounts relate to entities in which the directors have material interest or control and are both interest free and payable on demand.
The Company has taken advantage of the exemption under FRS102 33.1A Related Party Disclosures, not to disclose transactions entered into between two or more members of a group, provided that any subsidiary undertaking which is a party to the transaction is wholly owned by a member of that group.
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