Registered number
13428476
TAO Property Ltd
Filleted Accounts
31 May 2023
TAO Property Ltd
Registered number: 13428476
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 9,964 5,674
Current assets
Debtors 4 2,284 3,192
Cash at bank and in hand 11,867 3,180
14,151 6,372
Creditors: amounts falling due within one year 5 (7,110) (853)
Net current assets 7,041 5,519
Total assets less current liabilities 17,005 11,193
Creditors: amounts falling due after more than one year 6 (8,350) (12,516)
Net assets/(liabilities) 8,655 (1,323)
Capital and reserves
Called up share capital 1 1
Profit and loss account 8,654 (1,324)
Shareholder's funds 8,655 (1,323)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T A Oswin
Director
Approved by the board on 27 November 2023
TAO Property Ltd
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover is recognised when the service is complete.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Furniture and equipment over 5 years
Debtors
Short term debtors are measured at transaction price ,which is usually the invoice price, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price, which is usually the invoice price.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Furniture and equipment
£
Cost
At 1 June 2022 7,092
Additions 7,135
At 31 May 2023 14,227
Depreciation
At 1 June 2022 1,418
Charge for the year 2,845
At 31 May 2023 4,263
Net book value
At 31 May 2023 9,964
At 31 May 2022 5,674
4 Debtors 2023 2022
£ £
Trade debtors 505 3,192
Other debtors 1,779 -
2,284 3,192
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 5,657 -
Other creditors 1,453 853
7,110 853
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 8,350 12,516
7 Other information
TAO Property Ltd is a private company limited by shares and incorporated in England. Its registered office is:
4 Waterworks Road
Trowbridge
Wiltshire
BA14 0AL
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