Registration number:
Tabs Investments Limited
for the Year Ended 31 March 2019
Tabs Investments Limited
Contents
Balance Sheet |
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Notes to the Financial Statements |
Tabs Investments Limited
(Registration number: 09216366)
Balance Sheet as at 31 March 2019
Note |
2019 |
2018 |
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Fixed assets |
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Investment property |
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Other financial assets |
2,339,718 |
2,254,912 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.
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Tabs Investments Limited
(Registration number: 09216366)
Balance Sheet as at 31 March 2019
Approved and authorised by the
.........................................
Director
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Tabs Investments Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover represents amounts receivable for rents and service charges.
The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- the entity retains neither continuing managerial involvement to the degree usually associated with ownership;
- the costs incurred or to be incurred in respect of the transaction can be measured reliably; and
- specific criteria have been met for each of the company's activities.
Investment income is recognised in the period in which the company is entitled to receipt and the amount can be measured with reasonable certainty.
Finance income and costs policy
Interest income and expenses are recognised using the effective interest rate method.
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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Tabs Investments Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Investment property
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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Tabs Investments Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including directors) during the year was
Investment properties |
2019 |
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At 1 April 2018 and 31 March 2019 |
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Investment property comprises of rental properties in Wiltshire. They are included in the balance sheet at the fair value as at 31 March 2019. The directors consider there has been no material change to the fair value of the properties with reference to market conditions, regard to rental yield and transaction prices for similar properties.
Other financial assets (current and non-current) |
Financial assets at fair value through profit and loss |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 1 April 2018 |
2,254,912 |
2,254,912 |
Fair value adjustments |
87,249 |
87,249 |
Additions |
58,885 |
58,885 |
Disposals |
(61,328) |
(61,328) |
At 31 March 2019 |
2,339,718 |
2,339,718 |
Carrying amount |
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At 31 March 2019 |
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2,339,718 |
At 31 March 2018 |
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2,254,912 |
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Tabs Investments Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
Debtors |
2019 |
2018 |
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Trade debtors |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2019 |
2018 |
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Due within one year |
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Amounts owed to related parties |
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Taxation and social security |
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Other creditors |
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Accruals and deferred income |
3,573 |
4,861 |
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Related party transactions |
Loans from related parties
2019 |
Other related parties |
At start of period |
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Interest transactions |
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At end of period |
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2018 |
Other related parties |
At start of period |
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Advanced |
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Repaid |
( |
Interest transactions |
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At end of period |
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Terms of loans from related parties
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