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REGISTERED NUMBER: 09958060 (England and Wales)














TANG GROUP LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






TANG GROUP LTD (REGISTERED NUMBER: 09958060)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


TANG GROUP LTD

COMPANY INFORMATION
for the Year Ended 31 March 2023







DIRECTOR: E T A Tang





REGISTERED OFFICE: 53 Basing Hill
London
NW11 8TG





REGISTERED NUMBER: 09958060 (England and Wales)





ACCOUNTANTS: Miller & Co
Chartered Accountants
5 Imperial Court
Laporte Way
Luton
Bedfordshire
LU4 8FE

TANG GROUP LTD (REGISTERED NUMBER: 09958060)

STATEMENT OF FINANCIAL POSITION
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 61,454 7,660

CURRENT ASSETS
Debtors 6 273,529 91,847
Cash at bank 820,565 903,954
1,094,094 995,801
CREDITORS
Amounts falling due within one year 7 83,740 147,076
NET CURRENT ASSETS 1,010,354 848,725
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,071,808

856,385

CREDITORS
Amounts falling due after more than one
year

8

(44,689

)

(40,000

)

PROVISIONS FOR LIABILITIES (11,676 ) (1,455 )
NET ASSETS 1,015,443 814,930

CAPITAL AND RESERVES
Called up, paid and allotted share capital 1 1
Retained earnings 1,015,442 814,929
SHAREHOLDERS' FUNDS 1,015,443 814,930

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

TANG GROUP LTD (REGISTERED NUMBER: 09958060)

STATEMENT OF FINANCIAL POSITION - continued
31 March 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 November 2023 and were signed by:





E T A Tang - Director


TANG GROUP LTD (REGISTERED NUMBER: 09958060)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Tang Group 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.

The presentation currency of the financial statements is the Pound Sterling, rounded to the nearest pound.

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.

Income recognition
Income is recognised when goods/services have been delivered to customers such that risks and rewards of ownership have transferred to them.

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 - 25% on reducing balance

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

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.

Government grants
Government grants are recognised using the performance model and are recognised in other income when the grants proceeds are received or receivable.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 47 (2022 - 46 ) .

TANG GROUP LTD (REGISTERED NUMBER: 09958060)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 20,758 - - 20,758
Additions 1,769 71,704 903 74,376
At 31 March 2023 22,527 71,704 903 95,134
DEPRECIATION
At 1 April 2022 13,098 - - 13,098
Charge for year 2,358 17,926 298 20,582
At 31 March 2023 15,456 17,926 298 33,680
NET BOOK VALUE
At 31 March 2023 7,071 53,778 605 61,454
At 31 March 2022 7,660 - - 7,660

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors (500 ) -
Other debtors 274,029 91,847
273,529 91,847

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,747 10,000
Hire purchase contracts 9,096 -
Trade creditors 2,635 8,574
Taxation and social security 55,998 83,703
Other creditors 6,264 44,799
83,740 147,076

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 30,712 40,000
Hire purchase contracts 13,977 -
44,689 40,000

TANG GROUP LTD (REGISTERED NUMBER: 09958060)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
E T A Tang
Balance outstanding at start of year - -
Amounts advanced 111,788 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 111,788 -

10. RELATED PARTY DISCLOSURES

The director operates a loan account with the company which is repayable on demand. The transactions of which can be seen above.

11. COVID-19

During the current accounting period the world was dramatically affected by the Covid-19 pandemic. The directors have reviewed the company's position at the balance sheet date and up to the date of signing these accounts and have concluded that there are no material post balance sheet event adjustments required to the carrying amounts of the company's assets and liabilities as a result of the pandemic. They also do not consider that there will be any material financial effect from the pandemic that will impact on the company's ability to continue as a going concern for a period of 12 months from the date of approval of these accounts.