| East Dorset TIC Ltd |
| Registered number: |
08809040 |
| Balance Sheet |
| as at 31 March 2026 |
|
| Notes |
|
|
2026 |
|
|
2025 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
7,025 |
|
|
2,442 |
|
| Current assets |
| Stocks |
|
|
10,986 |
|
|
8,415 |
| Debtors |
4 |
|
1,047 |
|
|
869 |
| Cash at bank and in hand |
|
|
27,324 |
|
|
24,227 |
|
|
|
39,357 |
|
|
33,511 |
|
| Creditors: amounts falling due within one year |
5 |
|
(67,427) |
|
|
(27,078) |
|
| Net current (liabilities)/assets |
|
|
|
(28,070) |
|
|
6,433 |
|
| Total assets less current liabilities |
|
|
|
(21,045) |
|
|
8,875 |
|
|
| Provisions for liabilities |
|
|
|
- |
|
|
(2,194) |
|
|
| Net (liabilities)/assets |
|
|
|
(21,045) |
|
|
6,681 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
(21,145) |
|
|
6,581 |
|
| Shareholders' funds |
|
|
|
(21,045) |
|
|
6,681 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
| - select suitable accounting policies and apply them consistently; |
| - make judgements and accounting estimates that are reasonable and prudent; |
| - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
| The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| J C Greenwood |
| Director |
| Approved by the board on 16 October 2026 |
|
| The susequent notes form an integral part of these financial statements. |
|
| East Dorset TIC Ltd |
| Notes to the Accounts |
| for the year ended 31 March 2026 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Going concern |
|
The financial statements have been prepared on a going concern basis, which relies on the ongoing financial support from the parent company, The Priest's House Museum Trust. The directors have received assurances from the Trustees that continued financial support will be made available to the company for the foreseeable future. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Equipment |
33.3% straight line |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
| 2 |
Employees |
2026 |
|
2025 |
| Number |
Number |
|
Staff are employed by the parent charity and relevant costs recharged as appropriate. |
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Equipment |
| £ |
|
Cost |
|
At 1 April 2025 |
2,814 |
|
Additions |
8,212 |
|
At 31 March 2026 |
11,026 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2025 |
372 |
|
Charge for the year |
3,629 |
|
At 31 March 2026 |
4,001 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2026 |
7,025 |
|
At 31 March 2025 |
2,442 |
|
|
| 4 |
Debtors |
2026 |
|
2025 |
| £ |
£ |
|
|
Taxes recoverable |
|
|
|
|
120 |
|
- |
|
Prepayments |
927 |
|
869 |
|
|
|
|
|
|
1,047 |
|
869 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2026 |
|
2025 |
| £ |
£ |
|
|
Trade creditors |
5,086 |
|
1,507 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
59,123 |
|
23,283 |
|
Taxation and social security costs |
- |
|
7 |
|
Accruals and deferred income |
3,218 |
|
2,281 |
|
|
|
|
|
|
67,427 |
|
27,078 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Controlling party |
|
|
The company is controlled by the Priest's House Museum Trust which owns 100% of the issued share capital. |
|
|
| 7 |
Summary of transactions with related parties |
|
|
East Dorset TIC Ltd is a 100% subsidiary of The Priest’s House Museum Trust, which is an incorporated charity. During the year wages recharges of £39,881 (2025: £7,986) were made from The Priest’s House Museum Trust. Taxable profits generated from East Dorset TIC of £Nil (2025: £8,640) are donated to The Priest's House Museum Trust in the subsequent financial year. At the balance sheet date the amount due to The Priest’s House Museum Trust was £59,123 (2025 - £23,283). During the year the tea room trade and assets with net book value of £Nil (2025:£2,814) were transferred from The Priest's House Museum Trust to East Dorset TIC. |
|
|
| 8 |
Other information |
|
|
East Dorset TIC Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
23-27 High Street |
|
Wimborne |
|
Dorset |
|
BH21 1HR |