TAG DIGITAL LTD

Company Registration Number:
SC399754 (Scotland)

Unaudited abridged accounts for the year ended 31 March 2023

Period of accounts

Start date: 01 April 2022

End date: 31 March 2023

TAG DIGITAL LTD

Contents of the Financial Statements

for the Period Ended 31 March 2023

Balance sheet
Notes

TAG DIGITAL LTD

Balance sheet

As at 31 March 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 23,005 2,929
Investments: 4 59,039 59,039
Total fixed assets: 82,044 61,968
Current assets
Debtors: 5 1,655,123 1,227,583
Cash at bank and in hand: 1,070,820 698,193
Total current assets: 2,725,943 1,925,776
Creditors: amounts falling due within one year: 6 (2,417,274) (1,646,687)
Net current assets (liabilities): 308,669 279,089
Total assets less current liabilities: 390,713 341,057
Creditors: amounts falling due after more than one year: 7 (44,445) (77,778)
Provision for liabilities: (5,264)
Total net assets (liabilities): 341,004 263,279
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 341,002 263,277
Shareholders funds: 341,004 263,279

The notes form part of these financial statements

TAG DIGITAL LTD

Balance sheet statements

For the year ending 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 30 August 2023
and signed on behalf of the board by:

Name: Mr Craig Davidson
Status: Director

The notes form part of these financial statements

TAG DIGITAL LTD

Notes to the Financial Statements

for the Period Ended 31 March 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

TAG DIGITAL LTD

Notes to the Financial Statements

for the Period Ended 31 March 2023

2. Employees

2023 2022
Average number of employees during the period 28 21

TAG DIGITAL LTD

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Tangible Assets

Total
Cost £
At 01 April 2022 45,480
Additions 25,796
At 31 March 2023 71,276
Depreciation
At 01 April 2022 42,551
Charge for year 5,720
At 31 March 2023 48,271
Net book value
At 31 March 2023 23,005
At 31 March 2022 2,929

TAG DIGITAL LTD

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Fixed investments

On 9 September 2021 the Company acquired, for AED 300,000, 100% of the ordinary share capital of TAG Digital DWC LLC a company based in Dubai and previously owned by one of the Directors - Mr Craig Davidson.

TAG DIGITAL LTD

Notes to the Financial Statements

for the Period Ended 31 March 2023

5. Debtors

2023 2022
££
Debtors due after more than one year: 0 0

TAG DIGITAL LTD

Notes to the Financial Statements

for the Period Ended 31 March 2023

6. Creditors: amounts falling due within one year note

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 £ £Trade creditors 534,678 290,467Taxation and social security 276,746 246,935Accruals and deferred income 1,555,096 1,058,964Amounts owed to subsidiary undertaking 13,054 13,719Other creditors 4,367 3,269CBILS bank loan 33,333 33,333 Total 2,417,274 1,646,687

TAG DIGITAL LTD

Notes to the Financial Statements

for the Period Ended 31 March 2023

7. Creditors: amounts falling due after more than one year note

2023 2022 £ £CBILS Bank loan 44,445 77,778The CBILS bank loan above will fall due for repayment within the following time periods:- 2023 2022 £ £Between one and two years 33,333 33,333Between two and five years 11,112 44,445After more than five years 44,445 77,778As a result of the COVID-19 outbreak the Company sought additional interim working capital by way of a Corona Virus Business Interruption Loan Scheme (“CBILS”) term loan for £150,000 from Barclays Bank plc. As a result, Barclays Security Trustee Limited took a floating charge over the Company’s assets on 11 June 2020.The CBILS loan is repayable over a 5 year period and repayments commenced in February 2021. Thefirst year of the loan term was interest free and thereafter interest will be payable at a fixed rate of 2.5% per annum

TAG DIGITAL LTD

Notes to the Financial Statements

for the Period Ended 31 March 2023

8. Loans to directors

Name of director receiving advance or credit: Laura Davidson
Description of the loan: The Company has loaned to its Directors £74,875. This loan does not bear interest and has no fixed terms for repayment.
£
Balance at 01 April 2022 47,500
Advances or credits made: 27,375
Balance at 31 March 2023 74,875
Name of director receiving advance or credit: Mr Craig Davidson
Description of the loan: The Company has loaned to its Directors. This loan does not bearinterest and has no fixed terms for repayment.
£
Balance at 01 April 2022 47,500
Advances or credits made: 27,375
Balance at 31 March 2023 74,875
Name of director receiving advance or credit: Mrs Laura Davidson
Description of the loan: The Company has loaned to its Directors £149,750 (2022 - £95,000). This loan does not bear interest and has no fixed terms for repayment.
£
Balance at 01 April 2022 47,500
Advances or credits made: 27,375
Balance at 31 March 2023 74,875
Name of director receiving advance or credit: Mr Craig Davidson
Description of the loan: The Company has loaned to its Directors £149,750 (2022 - £95,000). This loan does not bear interest and has no fixed terms for repayment.
£
Balance at 01 April 2022 47,500
Advances or credits made: 27,375
Balance at 31 March 2023 74,875

TAG DIGITAL LTD

Notes to the Financial Statements

for the Period Ended 31 March 2023

9. Related party transactions

Name of the related party:
Relationship:
Directors
Description of the Transaction: Mr Craig Davidson and Mrs Laura Davidson are both Directors of the Company. The Company has loaned them £149,750 (2022: £95,000) as detailed in Note 5. This loan does not bear interest and has no fixed terms for repayment. TAG Digital LTD owed TAG Digital DWC LLC £13,054 (2022 - £13,719) as detailed in Note 6.
£
Balance at 01 April 2022 95,000
Balance at 31 March 2023 149,750
Name of the related party:
Relationship:
Directors
Description of the Transaction: Mr Craig Davidson and Mrs Laura Davidson are both Directors of the Company. The Company has loaned them £149,750 (2022: £95,000) as detailed in Note 5. This loan does not bear interest and has no fixed terms for repayment.
£
Balance at 01 April 2022 95,000
Balance at 31 March 2023 149,750
Name of the related party:
Relationship:
Subsidiary
Description of the Transaction: TAG Digital LTD owed TAG Digital DWC LLC £13,054 (2022 - £13,719) as detailed in Note 6.
£
Balance at 01 April 2022 13,719
Balance at 31 March 2023 13,054