Tasty Mates Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12055419 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 30 June 2021

for

Tasty Mates Ltd

Page

Company Information

1

Report of the Directors

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

N Sunshine

J L Woolf

REGISTERED OFFICE:

Ground Floor

2 Woodbury Grove

London

N12 0DR

REGISTERED NUMBER:

12055419 (England and Wales)

ACCOUNTANTS:

The Greene Partnership LLP

Suite 2C

Brosnan House

175 Darkes Lane

Potters Bar

Hertfordshire

EN6 1BW

The directors present their report with the financial statements of the company for the year ended 30 June 2021.

COMMENCEMENT OF TRADING

The company commenced trading on 06/11/2020.

PRINCIPAL ACTIVITY

The principal activity during the period under review was that of the manufacture and retail of confectionary.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 July 2020 to the date of this report.

N Sunshine

J L Woolf

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

J L Woolf - Director

6 May 2022

FIXED ASSETS

Tangible assets

4

31,972

-

CURRENT ASSETS

Stocks

5

11,750

-

Debtors

6

32,259

-

Cash at bank and in hand

48,978

100

92,987

100

CREDITORS

Amounts falling due within one year

7

20,349

-

NET CURRENT ASSETS

72,638

100

TOTAL ASSETS LESS CURRENT LIABILITIES

104,610

100

CREDITORS

Amounts falling due after more than one year

8

43,788

-

NET ASSETS

60,822

100

CAPITAL AND RESERVES

Called up share capital

950

100

Share premium

174,150

-

Retained earnings

(114,278

)

-

SHAREHOLDERS' FUNDS

60,822

100

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 May 2022 and were signed on its behalf by:

J L Woolf - Director

1.	STATUTORY INFORMATION

Tasty Mates Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Office equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Office

property

machinery

equipment

Totals

£

£

£

£

COST

Additions

20,405

4,966

9,975

35,346

At 30 June 2021

20,405

4,966

9,975

35,346

DEPRECIATION

Charge for year

-

993

2,381

3,374

At 30 June 2021

-

993

2,381

3,374

NET BOOK VALUE

At 30 June 2021

20,405

3,973

7,594

31,972

5.

STOCKS

30.6.21

30.6.20

£

£

Stocks

11,750

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Trade debtors

21,172

-

Other debtors

4,938

-

VAT

801

-

Prepayments

5,348

-

32,259

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans and overdrafts

6,212

-

Trade creditors

594

-

Social security and other taxes

758

-

Directors' current accounts

11,785

-

Accrued expenses

1,000

-

20,349

-

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans more 5 yr by instal

43,788

-

30.6.21

30.6.20

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

43,788

-

9.	ULTIMATE CONTROLLING PARTY

The controlling party are the directors, N Sunshine and J Woolf