Registered number
11102504
TDGP LTD
Report and Abridged Accounts
31 December 2021
TDGP LTD
Registered number: 11102504
Director's Report
The director presents his report and abridged accounts for the year ended 31 December 2021.
Principal activities
The company's principal activity during the year continued to be that of wholesale sale of gift items.
Directors
The following persons served as directors during the year:
D.Ruben
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 12 August 2022 and signed on its behalf.
D.Ruben
Director
TDGP LTD
Registered number: 11102504
Abridged Balance Sheet
as at 31 December 2021
Notes 2021 2020
£ £
Fixed assets
Tangible assets 3 6,600 4,697
Current assets
Stocks 30,298 29,600
Debtors 274,035 317,797
Cash at bank and in hand 195,748 178,510
500,081 525,907
Creditors: amounts falling due within one year (352,359) (424,253)
Net current assets 147,722 101,654
Total assets less current liabilities 154,322 106,351
Creditors: amounts falling due after more than one year (90,400) (100,000)
Net assets 63,922 6,351
Capital and reserves
Called up share capital 2 2
Profit and loss account 63,920 6,349
Shareholder's funds 63,922 6,351
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
D.Ruben
Director
Approved by the board on 12 August 2022
TDGP LTD
Notes to the Abridged Accounts
for the year ended 31 December 2021
1 Accounting policies
Basis of preparation
The abridged accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance basis
Fixtures, fittings, tools and equipment 20% reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 3 5
3 Tangible fixed assets
Total
£
Cost
At 1 January 2021 9,171
Additions 3,553
At 31 December 2021 12,724
Depreciation
At 1 January 2021 4,474
Charge for the year 1,650
At 31 December 2021 6,124
Net book value
At 31 December 2021 6,600
At 31 December 2020 4,697
4 Other information
TDGP LTD is a private company limited by shares and incorporated in England. Its registered office is:
Suite 111, Viglen House Business Centre
368 Alperton Lane
Wembley
Middlesex
HA0 1HD
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