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Registration number: 05822328

Report of the Director and


Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

for
 

Tako Limited

 

Tako Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Tako Limited

Company Information

Director:

Simon Gilchrist

Registered office:

Summit House
170 Finchley Road
London
NW3 6BP

Registered number:

05822328

Accountants:

Wem & Co
Chartered Accountants
Savoy House
Savoy Circus
London
W3 7DA

 

Tako Limited

(Registration number: 05822328)
Balance Sheet as at 31 March 2023

Note

31.03.23

31.03.22

   

£

£

£

£

FIXED ASSETS

   

 

Tangible assets

4

 

9,387

 

2,700

CURRENT ASSETS

   

 

Debtors

5

37,989

 

47,802

 

Cash at bank and in hand

 

30,728

 

57,014

 

 

68,717

 

104,816

 

CREDITORS

   

 

Creditors within 1yr

6

68,249

 

94,288

 

Net current assets

   

468

 

10,528

Total assets less current liabilities

   

9,855

 

13,228

Creditors
Amounts falling due after more than one year

6

 

8,100

 

12,300

Net assets

   

1,755

 

928

CAPITAL AND RESERVES

   

 

Called up share capital

 

100

 

100

Other reserves

 

708

 

708

Profit and loss account

 

947

 

120

Shareholders' funds

   

1,755

 

928

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.

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.

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 their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 1 February 2024
 

 

Tako Limited

(Registration number: 05822328)
Balance Sheet as at 31 March 2023 (continued)

.........................................
Simon Gilchrist
Director

 

Tako Limited

Notes to the Unaudited 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:
Summit House
170 Finchley Road
London
NW3 6BP

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 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 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.

The presentational currency is Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis.

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 current 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.

 

Tako Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

Reducing balance over 4 years

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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Tako Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

2

Accounting policies (continued)

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 1 (2022 - 1).

 

Tako Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

4.

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 April 2022

4,800

4,800

Additions

9,816

9,816

At 31 March 2023

14,616

14,616

Depreciation

At 1 April 2022

2,100

2,100

Charge for the year

3,129

3,129

At 31 March 2023

5,229

5,229

Carrying amount

At 31 March 2023

9,387

9,387

At 31 March 2022

2,700

2,700

5.

Debtors

Current

31.03.23
£

31.03.22
£

Trade debtors

3,960

12,382

Other debtors

34,029

35,420

 

37,989

47,802

Included in other debtors is £25,341 due by the director. This loan incurred interest at the HMRC official rate of interest and was repaid within nine months of the year-end.

 

Tako Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

6.

Creditors

Creditors: amounts falling due within one year

Note

31.03.23
£

31.03.22
£

Due within one year

 

Loans and borrowings

7

3,923

3,000

Trade creditors

 

-

1,800

Taxation and social security

 

58,641

87,303

Accruals and deferred income

 

5,685

2,185

 

68,249

94,288

Creditors: amounts falling due after more than one year

Note

31.03.23
£

31.03.22
£

Due after one year

 

Loans and borrowings

7

8,100

12,300

7.

Loans and borrowings

31.03.23
£

31.03.22
£

Non-current loans and borrowings

Bank borrowings

8,100

12,300

31.03.23
£

31.03.22
£

Current loans and borrowings

Bank borrowings

3,923

3,000