IRIS Accounts Production v22.1.4.3 06251046 director 1.1.21 31.12.21 31.12.21 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure062510462020-12-31062510462021-12-31062510462021-01-012021-12-31062510462019-12-31062510462020-01-012020-12-31062510462020-12-3106251046ns16:EnglandWales2021-01-012021-12-3106251046ns15:PoundSterling2021-01-012021-12-3106251046ns11:Director12021-01-012021-12-3106251046ns11:PrivateLimitedCompanyLtd2021-01-012021-12-3106251046ns11:SmallEntities2021-01-012021-12-3106251046ns11:AuditExempt-NoAccountantsReport2021-01-012021-12-3106251046ns11:SmallCompaniesRegimeForDirectorsReport2021-01-012021-12-3106251046ns11:SmallCompaniesRegimeForAccounts2021-01-012021-12-3106251046ns11:FullAccounts2021-01-012021-12-310625104612021-01-012021-12-3106251046ns11:RegisteredOffice2021-01-012021-12-3106251046ns6:CurrentFinancialInstruments2021-12-3106251046ns6:CurrentFinancialInstruments2020-12-3106251046ns6:Non-currentFinancialInstruments2021-12-3106251046ns6:Non-currentFinancialInstruments2020-12-3106251046ns6:ShareCapital2021-12-3106251046ns6:ShareCapital2020-12-3106251046ns6:RetainedEarningsAccumulatedLosses2021-12-3106251046ns6:RetainedEarningsAccumulatedLosses2020-12-3106251046ns6:IntangibleAssetsOtherThanGoodwill2021-01-012021-12-3106251046ns6:PatentsTrademarksLicencesConcessionsSimilar2021-01-012021-12-3106251046ns6:FurnitureFittings2021-01-012021-12-3106251046ns6:ComputerEquipment2021-01-012021-12-3106251046ns6:PatentsTrademarksLicencesConcessionsSimilar2020-12-3106251046ns6:PatentsTrademarksLicencesConcessionsSimilar2021-12-3106251046ns6:PatentsTrademarksLicencesConcessionsSimilar2020-12-3106251046ns6:LeaseholdImprovements2020-12-3106251046ns6:FurnitureFittings2020-12-3106251046ns6:ComputerEquipment2020-12-3106251046ns6:LeaseholdImprovements2021-01-012021-12-3106251046ns6:LeaseholdImprovements2021-12-3106251046ns6:FurnitureFittings2021-12-3106251046ns6:ComputerEquipment2021-12-3106251046ns6:LeaseholdImprovements2020-12-3106251046ns6:FurnitureFittings2020-12-3106251046ns6:ComputerEquipment2020-12-3106251046ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-3106251046ns6:WithinOneYearns6:CurrentFinancialInstruments2020-12-3106251046ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2021-12-3106251046ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2020-12-3106251046ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2021-12-3106251046ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2020-12-3106251046ns6:WithinOneYear2021-12-3106251046ns6:WithinOneYear2020-12-3106251046ns6:BetweenOneFiveYears2021-12-3106251046ns6:BetweenOneFiveYears2020-12-3106251046ns6:MoreThanFiveYears2021-12-3106251046ns6:MoreThanFiveYears2020-12-3106251046ns6:AllPeriods2021-12-3106251046ns6:AllPeriods2020-12-31
REGISTERED NUMBER: 06251046 (England and Wales)















Unaudited Financial Statements

for the Year Ended

31 December 2021

for

Taopix Limited

Taopix Limited (Registered number: 06251046)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Taopix Limited

Company Information
for the Year Ended 31 December 2021







DIRECTOR: J P Gray





REGISTERED OFFICE: The Greenhouse
Meadowfield Ind Estate
Newcastle Upon Tyne
NE20 9SD





REGISTERED NUMBER: 06251046 (England and Wales)





ACCOUNTANTS: Equate Limited
Chartered Certified Accountants
17 Appleton Court
Calder Park
Wakefield
West Yorkshire
WF2 7AR

Taopix Limited (Registered number: 06251046)

Statement of Financial Position
31 December 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 29,302 38,449
29,302 38,449

CURRENT ASSETS
Debtors 6 377,671 462,860
Cash at bank 189,684 143,923
567,355 606,783
CREDITORS
Amounts falling due within one year 7 9,872 126,642
NET CURRENT ASSETS 557,483 480,141
TOTAL ASSETS LESS CURRENT
LIABILITIES

586,785

518,590

CREDITORS
Amounts falling due after more than one
year

8

(35,769

)

-

PROVISIONS FOR LIABILITIES - (2,173 )
NET ASSETS 551,016 516,417

CAPITAL AND RESERVES
Called up share capital 13,552 13,552
Retained earnings 537,464 502,865
SHAREHOLDERS' FUNDS 551,016 516,417

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

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

Taopix Limited (Registered number: 06251046)

Statement of Financial Position - continued
31 December 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 22 February 2022 and were signed by:





J P Gray - Director


Taopix Limited (Registered number: 06251046)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Taopix Limited 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 recognised on licence sales when the contract has been signed off. Maintenance agreements are recognised in the month they are renewed or entered into.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Amortisation
Amortisation is provided on intangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Other intangibles - 33.3% straight line basis

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost and 20% on cost

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

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.


Taopix Limited (Registered number: 06251046)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

2. 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2020 - 27 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 January 2021
and 31 December 2021 25,000
AMORTISATION
At 1 January 2021
and 31 December 2021 25,000
NET BOOK VALUE
At 31 December 2021 -
At 31 December 2020 -

Taopix Limited (Registered number: 06251046)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 January 2021 71,467 80,372 98,765 250,604
Additions - 10,512 7,266 17,778
Disposals - (1,012 ) (32,452 ) (33,464 )
At 31 December 2021 71,467 89,872 73,579 234,918
DEPRECIATION
At 1 January 2021 61,938 65,165 85,052 212,155
Charge for year 9,529 8,123 9,273 26,925
Eliminated on disposal - (1,012 ) (32,452 ) (33,464 )
At 31 December 2021 71,467 72,276 61,873 205,616
NET BOOK VALUE
At 31 December 2021 - 17,596 11,706 29,302
At 31 December 2020 9,529 15,207 13,713 38,449

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade debtors 352,298 411,138
Amounts owed by group undertakings 2,500 2,500
Other debtors 1,192 1,192
Directors' current accounts 3,623 -
VAT - 9,998
Deferred tax asset 26 -
Prepayments and accrued income 18,032 38,032
377,671 462,860

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Bank loans and overdrafts 9,818 50,000
Trade creditors 55,064 65,367
Tax (107,977 ) (97,388 )
Social security and other taxes 24,949 31,075
VAT 1,501 -
Other creditors 1,979 333
Directors' current accounts - 1,788
Accruals and deferred income 24,538 75,467
9,872 126,642

Taopix Limited (Registered number: 06251046)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.21 31.12.20
£    £   
Bank loans - 1-2 years 9,997 -
Bank loans - 2-5 years 25,772 -
35,769 -

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.21 31.12.20
£    £   
Within one year 46,012 105,026
Between one and five years 160,000 163,842
In more than five years 150,000 190,000
356,012 458,868

10. OTHER FINANCIAL COMMITMENTS

The company has a 15 year lease commitment on it's trading premises at £40,000 per annum, the lease commenced in September 2015.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J P Gray.