Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-312022-08-01falsetrueNo description of principal activity33trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02241390 2022-08-01 2023-07-31 02241390 2021-08-01 2022-07-31 02241390 2023-07-31 02241390 2022-07-31 02241390 c:Director1 2022-08-01 2023-07-31 02241390 d:FurnitureFittings 2022-08-01 2023-07-31 02241390 d:FurnitureFittings 2023-07-31 02241390 d:FurnitureFittings 2022-07-31 02241390 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 02241390 d:CurrentFinancialInstruments 2023-07-31 02241390 d:CurrentFinancialInstruments 2022-07-31 02241390 d:Non-currentFinancialInstruments 2023-07-31 02241390 d:Non-currentFinancialInstruments 2022-07-31 02241390 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 02241390 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 02241390 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 02241390 d:Non-currentFinancialInstruments d:AfterOneYear 2022-07-31 02241390 d:ShareCapital 2023-07-31 02241390 d:ShareCapital 2022-07-31 02241390 d:SharePremium 2023-07-31 02241390 d:SharePremium 2022-07-31 02241390 d:RetainedEarningsAccumulatedLosses 2023-07-31 02241390 d:RetainedEarningsAccumulatedLosses 2022-07-31 02241390 c:FRS102 2022-08-01 2023-07-31 02241390 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 02241390 c:FullAccounts 2022-08-01 2023-07-31 02241390 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Registered number: 02241390









TAO SPORT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2023

 
TAO SPORT LIMITED
REGISTERED NUMBER: 02241390

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,757
5,945

  
4,757
5,945

Current assets
  

Stocks
 5 
19,263
19,702

Debtors: amounts falling due within one year
 6 
532
1,287

Cash at bank and in hand
 7 
6,448
17,548

  
26,243
38,537

Creditors: amounts falling due within one year
 8 
(23,897)
(26,659)

Net current assets
  
 
 
2,346
 
 
11,878

Total assets less current liabilities
  
7,103
17,823

Creditors: amounts falling due after more than one year
 9 
(198,491)
(198,491)

  

Net liabilities
  
(191,388)
(180,668)


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Share premium account
  
14,100
14,100

Profit and loss account
  
(206,488)
(195,768)

  
(191,388)
(180,668)


Page 1

 
TAO SPORT LIMITED
REGISTERED NUMBER: 02241390
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




R Chau
Director

Date: 2 February 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
TAO SPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

Tao Sport Limited is a company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is 523 Green Lane, London, N4 1AN.
The company's principal activity is that of Retail sale of sports goods, fishing gear, camping goods, boats and bicycles.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Going concern

The accounts have been prepared on a going concern basis. The validity of this assumption is dependent on the support of Mr R Chau who is a director and shareholder. Without creating any contractual obligation, Mr R Chau has confirmed his intention to support the company so that it can meet its current liabilities as they fall due. 

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
TAO SPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 4

 
TAO SPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 August 2022
111,982



At 31 July 2023

111,982



Depreciation


At 1 August 2022
106,037


Charge for the year on owned assets
1,188



At 31 July 2023

107,225



Net book value



At 31 July 2023
4,757



At 31 July 2022
5,945


5.


Stocks

2023
2022
£
£

Finished goods and goods for resale
19,263
19,702

19,263
19,702



6.


Debtors

2023
2022
£
£


Trade debtors
532
1,287

532
1,287


Page 5

 
TAO SPORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
6,448
17,548

Less: bank overdrafts
(295)
(54)

6,153
17,494



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
295
54

Trade creditors
11,727
14,324

Other taxation and social security
1,357
1,523

Other creditors
8,518
7,293

Accruals and deferred income
2,000
3,465

23,897
26,659



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other creditors
198,491
198,491

198,491
198,491


Page 6