Registered number
02725380
Taboon Ltd
Filleted Accounts
30 June 2023
Taboon Ltd
Registered number: 02725380
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 122,944 82,831
Current assets
Stocks 17,404 16,090
Debtors 4 280,461 63,063
Cash at bank and in hand 10,663 13,896
308,528 93,049
Creditors: amounts falling due within one year 5 (346,738) (114,757)
Net current liabilities (38,210) (21,708)
Total assets less current liabilities 84,734 61,123
Creditors: amounts falling due after more than one year 6 (27,081) (43,748)
Net assets 57,653 17,375
Capital and reserves
Called up share capital 100 100
Profit and loss account 57,553 17,275
Shareholders' funds 57,653 17,375 -
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 members have 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.
Daniel Stern
Director
Approved by the board on 29 July 2023
Taboon Ltd
Notes to the Accounts
for the year ended 30 June 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 includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 10% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 7
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 July 2022 13,469 93,626 60,821 167,916
Additions - 15,600 52,000 67,600
At 30 June 2023 13,469 109,226 112,821 235,516
Depreciation
At 1 July 2022 13,469 41,761 29,855 85,085
Charge for the year - 6,746 20,741 27,487
At 30 June 2023 13,469 48,507 50,596 112,572
Net book value
At 30 June 2023 - 60,719 62,225 122,944
At 30 June 2022 - 51,865 30,966 82,831
4 Debtors 2023 2022
£ £
Trade debtors 61,911 63,063
Other debtors 218,550 -
280,461 63,063
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 144,848 10,414
Obligations under finance lease and hire purchase contracts 104,472 24,333
Trade creditors 30,129 30,036
Taxation and social security costs 67,105 41,930
Other creditors 184 8,044
346,738 114,757
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 27,081 43,748
7 Other information
Taboon Ltd is a private company limited by shares and incorporated in England. Its registered office is:
2 Langley Crescent
Edgware
Middlesex
HA8 9SZ
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