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REGISTERED NUMBER: SC537572 (Scotland)















Unaudited Financial Statements for the Year Ended 30 November 2021

for

Taavetti Office Interiors Limited

Taavetti Office Interiors Limited (Registered number: SC537572)






Contents of the Financial Statements
for the Year Ended 30 November 2021




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Taavetti Office Interiors Limited

Company Information
for the Year Ended 30 November 2021







DIRECTOR: A S T Nicolson





REGISTERED OFFICE: Johnstone House
52-54 Rose Street
Aberdeen
AB10 1HA





REGISTERED NUMBER: SC537572 (Scotland)





ACCOUNTANTS: The Grant Considine Partnership
Chartered Accountants
46 High Street
Banchory
Aberdeenshire
AB31 5SR

Taavetti Office Interiors Limited (Registered number: SC537572)

Statement of Financial Position
30 November 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 6,881 9,226

CURRENT ASSETS
Debtors 6 94,016 11,170
Cash at bank 122,754 104,101
216,770 115,271
CREDITORS
Amounts falling due within one year 7 143,590 85,856
NET CURRENT ASSETS 73,180 29,415
TOTAL ASSETS LESS CURRENT
LIABILITIES

80,061

38,641

CREDITORS
Amounts falling due after more than one
year

8

(27,604

)

(28,500

)

PROVISIONS FOR LIABILITIES (1,188 ) (1,845 )
NET ASSETS 51,269 8,296

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 51,169 8,196
SHAREHOLDERS' FUNDS 51,269 8,296

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

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

The director acknowledges his 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.

Taavetti Office Interiors Limited (Registered number: SC537572)

Statement of Financial Position - continued
30 November 2021


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 director and authorised for issue on 29 August 2022 and were signed by:





A S T Nicolson - Director


Taavetti Office Interiors Limited (Registered number: SC537572)

Notes to the Financial Statements
for the Year Ended 30 November 2021

1. STATUTORY INFORMATION

Taavetti Office Interiors Limited is a private company, limited by shares , registered in Scotland. 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 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.

3. ACCOUNTING POLICIES

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

Revenue recognition
Turnover is measured at fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income is recognised when the service has been provided, when the amount of revenue can be measured reliably and when its probable that future economic benefits will flow to the entity. If a customer has not been invoiced for services provided during the period the income is accrued and included in debtors under prepayments and accrued income.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is shorter.

Office Equipment 25% Reducing Balance

Financial instruments
The following assets and liabilities are classified as financial instruments- trade debtors, trade creditors and directors loans.

Directors loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets that are measured at amortized 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 and loss.

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.


Taavetti Office Interiors Limited (Registered number: SC537572)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2021

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.

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 1 (2020 - 1 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2020 12,545
Additions 964
Disposals (1,233 )
At 30 November 2021 12,276
DEPRECIATION
At 1 December 2020 3,319
Charge for year 2,831
Eliminated on disposal (755 )
At 30 November 2021 5,395
NET BOOK VALUE
At 30 November 2021 6,881
At 30 November 2020 9,226

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 94,016 6,935
Other debtors - 4,235
94,016 11,170

Taavetti Office Interiors Limited (Registered number: SC537572)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2021

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts (see note 9) 1,500 1,500
Trade creditors 88,485 62,880
Taxation and social security 33,050 584
Other creditors 20,555 20,892
143,590 85,856

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Bank loans (see note 9) 27,604 28,500

9. LOANS

An analysis of the maturity of loans is given below:

2021 2020
£    £   
Amounts falling due within one year or on demand:
Bank loans 1,500 1,500

Amounts falling due between one and two years:
Bank loans - 1-2 years 6,000 6,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 21,604 22,500

The company received a government backed bounce back loan under support measures for businesses impacted by Covid-19.