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Registration number: 09710812

Tarifa Networks Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2023

 

Tarifa Networks Ltd

Contents

Company Information

1

Director's Report

2

Abridged Statement of Financial Position

3

Statement of Changes in Equity

4

Notes to the Unaudited Abridged Financial Statements

5 to 7

 

Tarifa Networks Ltd

Company Information

Director

S Safai

Registered office

Flat 7, Wheel House
1 Burrells Wharf Square
London
E14 3TA

 

Tarifa Networks Ltd

Director's Report for the Year Ended 31 March 2023

The director presents his report and the abridged financial statements for the year ended 31 March 2023.

Director of the company

The director who held office during the year was as follows:

S Safai

Principal activity

The principal activity of the company is that of Information technology consultancy activities.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 24 November 2023
 

.........................................
S Safai
Director

 

Tarifa Networks Ltd

(Registration number: 09710812)
Abridged Statement of Financial Position as at 31 March 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

133

163

Cash at bank and in hand

 

234

17,356

 

367

17,519

Creditors: Amounts falling due within one year

-

(648)

Total assets less current liabilities

 

367

16,871

Accruals and deferred income

 

(3,000)

(2,500)

Net (liabilities)/assets

 

(2,633)

14,371

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(2,634)

14,370

Shareholders' (deficit)/funds

 

(2,633)

14,371

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Income Statement and an Abridged Statement of Financial Position in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 24 November 2023
 

.........................................
S Safai
Director

 

Tarifa Networks Ltd

Statement of Changes in Equity for the Year Ended 31 March 2023

Share capital
£

Retained earnings
£

Total
£

At 1 April 2022

1

14,370

14,371

Loss for the year

-

(1,004)

(1,004)

Dividends

-

(16,000)

(16,000)

At 31 March 2023

1

(2,634)

(2,633)

Share capital
£

Retained earnings
£

Total
£

At 1 April 2021

1

49,062

49,063

Profit for the year

-

308

308

Dividends

-

(35,000)

(35,000)

At 31 March 2022

1

14,370

14,371

 

Tarifa Networks Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Flat 7, Wheel House
1 Burrells Wharf Square
London
E14 3TA

These financial statements were authorised for issue by the director on 24 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Tarifa Networks Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

4

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

5

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £16,000.00 (2022 - £35,000.00) per ordinary share

 

16,000

 

35,000

         

6

Related party transactions

Summary of transactions with other related parties

 

Tarifa Networks Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

The ultimate beneficial owner is the director.