Tasty Mates Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 12055419 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 30 June 2022

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:

Office 9, Dalton House

60 Windsor Avenue

London

SW19 2RR

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 2022.

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 2021 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

26 March 2023

FIXED ASSETS

Tangible assets

4

29,299

31,972

CURRENT ASSETS

Stocks

5

8,300

11,750

Debtors

6

58,085

32,259

Cash at bank and in hand

181,131

48,978

247,516

92,987

CREDITORS

Amounts falling due within one year

7

29,887

20,349

NET CURRENT ASSETS

217,629

72,638

TOTAL ASSETS LESS CURRENT LIABILITIES

246,928

104,610

CREDITORS

Amounts falling due after more than one year

8

38,426

43,788

NET ASSETS

208,502

60,822

CAPITAL AND RESERVES

Called up share capital

1,187

950

Share premium

474,216

174,150

Retained earnings

(266,901

)

(114,278

)

SHAREHOLDERS' FUNDS

208,502

60,822

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 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 26 March 2023 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2021 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Office

property

machinery

equipment

Totals

£

£

£

£

COST

At 1 July 2021

and 30 June 2022

20,405

4,966

9,975

35,346

DEPRECIATION

At 1 July 2021

-

993

2,381

3,374

Charge for year

-

773

1,900

2,673

At 30 June 2022

-

1,766

4,281

6,047

NET BOOK VALUE

At 30 June 2022

20,405

3,200

5,694

29,299

At 30 June 2021

20,405

3,973

7,594

31,972

5.

STOCKS

30.6.22

30.6.21

£

£

Stocks

8,300

11,750

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.22

30.6.21

£

£

Trade debtors

28,384

21,172

Other debtors

9,025

4,938

VAT

1,763

801

Prepayments

18,913

5,348

58,085

32,259

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.22

30.6.21

£

£

Bank loans and overdrafts

10,781

6,212

Trade creditors

594

594

Social security and other taxes

5,060

758

Directors' current accounts

11,785

11,785

Accrued expenses

1,667

1,000

29,887

20,349

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.22

30.6.21

£

£

Bank loans more 5 yr by instal

38,426

43,788

30.6.22

30.6.21

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

38,426

43,788

9.	ULTIMATE CONTROLLING PARTY

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