Company registration number 04517324 (England and Wales)
TAEKWON DO (UK) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JANUARY 2023
PAGES FOR FILING WITH REGISTRAR
30-31 St.James Place
Mangotsfield
Bristol
United Kingdom
BS16 9JB
TAEKWON DO (UK) LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 6
TAEKWON DO (UK) LIMITED
COMPANY INFORMATION
- 1 -
Director
Mr R G Gayle
Secretary
Mr R G Gayle
Company number
04517324
Registered office
30-31 St James Place
Mangotsfield
Bristol
South Glos.
England
BS16 9JB
Accountants
TC Group
30-31 St.James Place
Mangotsfield
Bristol
United Kingdom
BS16 9JB
TAEKWON DO (UK) LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2023
31 January 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
50,000
50,000
Tangible assets
4
1,261
94
51,261
50,094
Current assets
Debtors
5
14,467
12,477
Cash at bank and in hand
1,740
4,622
16,207
17,099
Creditors: amounts falling due within one year
6
(72,218)
(61,587)
Net current liabilities
(56,011)
(44,488)
Total assets less current liabilities
(4,750)
5,606
Provisions for liabilities
(240)
(18)
Net (liabilities)/assets
(4,990)
5,588
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(5,090)
5,488
Total equity
(4,990)
5,588

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

TAEKWON DO (UK) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2023
31 January 2023
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 20 September 2023
Mr R G Gayle
Director
Company Registration No. 04517324
TAEKWON DO (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
- 4 -
1
Accounting policies
Company information

Taekwon Do (UK) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 30-31 St James Place, Mangotsfield, Bristol, South Glos., England, BS16 9JB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

1.2
Turnover

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Intangible fixed assets - goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of nil years.
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
15% on reducing balance
TAEKWON DO (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
1
Accounting policies
(Continued)
- 5 -
1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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.
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
3
Intangible fixed assets
Goodwill
£
Cost
At 1 February 2022 and 31 January 2023
50,000
Amortisation and impairment
At 1 February 2022 and 31 January 2023
-
0
Carrying amount
At 31 January 2023
50,000
At 31 January 2022
50,000
TAEKWON DO (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 6 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2022
809
Additions
1,588
At 31 January 2023
2,397
Depreciation and impairment
At 1 February 2022
715
Depreciation charged in the year
421
At 31 January 2023
1,136
Carrying amount
At 31 January 2023
1,261
At 31 January 2022
94
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
6,000
6,000
Other debtors
8,467
6,477
14,467
12,477
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
6,000
6,000
Taxation and social security
-
0
131
Other creditors
66,218
55,456
72,218
61,587
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