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REGISTERED NUMBER: 04449165 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2018

FOR

TOP TAGS ID SYSTEMS LTD

TOP TAGS ID SYSTEMS LTD (REGISTERED NUMBER: 04449165)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2018




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


TOP TAGS ID SYSTEMS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2018







DIRECTORS: N J Finley
E P Robinson
Ms B Wood





REGISTERED OFFICE: Northdown Business park
Northdown Close
Ashford Road
Lenham
Kent
ME17 2DL





REGISTERED NUMBER: 04449165 (England and Wales)





ACCOUNTANTS: McCabe Ford Williams
1A High Street
Lenham
Kent
ME17 2QD

TOP TAGS ID SYSTEMS LTD (REGISTERED NUMBER: 04449165)

STATEMENT OF FINANCIAL POSITION
31 MAY 2018

31.5.18 31.5.17
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - 168,321
Tangible assets 6 25,878 29,651
25,878 197,972

CURRENT ASSETS
Stocks 69,349 81,856
Debtors 7 132,164 159,150
Cash at bank 38,893 90,434
240,406 331,440
CREDITORS
Amounts falling due within one year 8 80,218 128,562
NET CURRENT ASSETS 160,188 202,878
TOTAL ASSETS LESS CURRENT
LIABILITIES

186,066

400,850

PROVISIONS FOR LIABILITIES 2,399 2,563
NET ASSETS 183,667 398,287

CAPITAL AND RESERVES
Called up share capital 9 200 200
Retained earnings 183,467 398,087
SHAREHOLDERS' FUNDS 183,667 398,287

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 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.

TOP TAGS ID SYSTEMS LTD (REGISTERED NUMBER: 04449165)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 1 October 2018 and were signed on its behalf by:





Ms B Wood - Director


TOP TAGS ID SYSTEMS LTD (REGISTERED NUMBER: 04449165)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2018

1. STATUTORY INFORMATION

Top Tags ID Systems 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, management is required to make judgements, estimates
and assumptions about the carrying value of assets and liabilities that are not readily apparent from other
sources. The estimates and underlying assumptions are based on historical experience and other factors that
are considered relevant. Actual results may differ from these estimates. The estimates and underlying
assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period
to which the estimate is revised if the revision affects only that period or in the period of the revision and future
periods if the revision affects both current and future periods. The key sources of estimation uncertainty that
have a significant effect on the amounts recognised in the financial statements are the depreciation charges that
are calculated with reference to the useful economic life of fixed assets.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on reducing balance
Plant and machinery - 20% on reducing balance
Computer equipment - 33.33% 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.

TOP TAGS ID SYSTEMS LTD (REGISTERED NUMBER: 04449165)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2018

3. ACCOUNTING POLICIES - continued

Financial instruments
The company enters into basic financial instruments that result in the recognition of financial assets and
liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and
loans to related parties.

a) Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the
effective interest method, less impairment losses for bad and doubtful debts except where the effect of
discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for
bad and doubtful debts.

b) Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

c) Impairment of financial assets
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period
for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is
recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an
asset's carrying amount and the present value of estimated cash flows discounted at the asset's original
effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any
impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference
between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the
company would receive for the asset if it were to be sold at the reporting date.

d) Trade and other creditors
Debt instruments like loans and other accounts payable are initially measured at present value of the future
payments and subsequently at amortised cost using the effective interest method. Debt instruments that are
payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted
amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term
instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business
terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at
market rate, the financial asset is measured, initially and subsequently, at the present value of the future
payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when
there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis
or to realise the asset and settle the liability simultaneously.

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 statement of financial position date.

TOP TAGS ID SYSTEMS LTD (REGISTERED NUMBER: 04449165)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2018

3. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the
statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of
exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the
operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2017 - 7 ) .

5. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 June 2017
and 31 May 2018 841,613 204 841,817
AMORTISATION
At 1 June 2017 673,292 204 673,496
Charge for year 168,321 - 168,321
At 31 May 2018 841,613 204 841,817
NET BOOK VALUE
At 31 May 2018 - - -
At 31 May 2017 168,321 - 168,321

TOP TAGS ID SYSTEMS LTD (REGISTERED NUMBER: 04449165)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2018

6. TANGIBLE FIXED ASSETS
Land and Plant and Computer
buildings machinery equipment Totals
£    £    £    £   
COST
At 1 June 2017 9,916 168,670 2,023 180,609
Additions - - 2,275 2,275
At 31 May 2018 9,916 168,670 4,298 182,884
DEPRECIATION
At 1 June 2017 2,869 146,622 1,467 150,958
Charge for year 704 4,410 934 6,048
At 31 May 2018 3,573 151,032 2,401 157,006
NET BOOK VALUE
At 31 May 2018 6,343 17,638 1,897 25,878
At 31 May 2017 7,047 22,048 556 29,651

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.18 31.5.17
£    £   
Trade debtors 123,065 156,902
Directors' Loan Accounts 205 205
VAT 381 -
Prepayments and accrued income 8,513 2,043
132,164 159,150

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.18 31.5.17
£    £   
Trade creditors 8,191 23,471
Other taxes and PAYE taxes 70,827 102,591
Accruals and deferred income 1,200 2,500
80,218 128,562

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.5.18 31.5.17
value: £    £   
200 Ordinary 1 200 200