Tribu - London Limited
Tribu - London Limited
Registered number: 05417255
Unaudited Financial Statements
For The Year Ended
31 March 2021
ChadSan Limited
Castle House
Castle Street
Guildford
Surrey
GU1 3UW
Tribu - London Limited
Unaudited Financial Statements
For The Year Ended
31 March 2021
Unaudited Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 2—3 |
| Notes to the Financial Statements | 4—7 |
Tribu - London Limited
Balance Sheet
As at
31 March 2021
Balance Sheet
Registered number:
05417255
For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2021 | 2020 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 4 |
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| CURRENT ASSETS | |||||
| Stocks | 5 |
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| Debtors | 6 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 7 |
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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 | 8 |
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| NET LIABILITIES |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 9 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | (11,463) | (14,156) | |||
Tribu - London Limited
Balance Sheet (continued)
As at
31 March 2021
Directors' responsibilities
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The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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The notes on pages 4 to 7 form part of these financial statements.
Tribu - London Limited
Notes to the Financial Statements
For The Year Ended
31 March 2021
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Going Concern Disclosure
As at the balance sheet date the company has net liabilities. These financial statements have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to support the company for the forseeable future.
1.3.
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
1.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Fixtures & Fittings |
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| Computer Equipment |
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1.5.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.6.
Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
Tribu - London Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2021
1.7.
Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
1.8.
Coronavirus Government Support
During the year, the following amounts were received and recognised as grant income:
- £93,697 in the form of a discretionary support grant from the Local Authority recognised under the Performance model. The grant was 100% recognised in the year.
- £12,012 from the Coronavirus Job Retention Scheme recognised under the Accrual model.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2 (2020: 6)
4.
Tangible Assets
| Fixtures & Fittings | Computer Equipment | Total | |
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| Cost | |||
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| Additions |
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| Depreciation | |||
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| Provided during the period |
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| Net Book Value | |||
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Tribu - London Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2021
5.
Stocks
| 2021 | 2020 | ||
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| £ | £ | ||
| Stock - materials and work in progress | 13,500 | 25,000 | |
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6.
Debtors
| 2021 | 2020 | ||
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| £ | £ | ||
| Due within one year | |||
| Other debtors | 44,324 | 11,532 | |
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7.
Creditors: Amounts Falling Due Within One Year
| 2021 | 2020 | ||
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| £ | £ | ||
| Trade creditors |
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| Bank loans and overdrafts |
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| Other creditors | 810 | 14,169 | |
| Taxation and social security | 4,349 | 4,951 | |
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8.
Creditors: Amounts Falling Due After More Than One Year
| 2021 | 2020 | ||
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| £ | £ | ||
| Bank loans |
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Tribu - London Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2021
10.
Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
| As at
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Amounts advanced | Amounts repaid | Amounts written off | As at
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| £ | £ | £ | £ | £ | |
| Mr Gil Avraham |
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The above loan is unsecured, interest free and repayable on demand.
11.
Ultimate Controlling Party
The company's ultimate controlling party is
Mr G Avraham
by virtue of his ownership of 100% of the issued share capital in the company.
12.
General Information
Tribu - London Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
05417255
. The registered office is Unit 1d Camden Lock Place, Chalk Farm Road, London, NW1 8AL.