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REGISTERED NUMBER: 04255380 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 August 2023

for

TTAC Limited

TTAC Limited (Registered number: 04255380)






Contents of the Financial Statements
for the year ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TTAC Limited

Company Information
for the year ended 31 August 2023







DIRECTOR: A R Taig





SECRETARY: Mrs J Taig





REGISTERED OFFICE: 10 The Avenue
Marston
Northwich
Cheshire
CW9 6EU





REGISTERED NUMBER: 04255380 (England and Wales)





ACCOUNTANTS: Bennett Brooks & Co Limited
Chartered Accountants
St George's Court
Winnington Avenue
Northwich
Cheshire
CW8 4EE

TTAC Limited (Registered number: 04255380)

Balance Sheet
31 August 2023

2023 2022
Notes £ £
CURRENT ASSETS
Debtors 5 1,064 272
Cash at bank 44,129 47,969
45,193 48,241
CREDITORS
Amounts falling due within one year 6 (6,318 ) (5,830 )
NET CURRENT ASSETS 38,875 42,411
TOTAL ASSETS LESS CURRENT
LIABILITIES

38,875

42,411

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 38,873 42,409
SHAREHOLDERS' FUNDS 38,875 42,411

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

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

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 March 2024 and were signed by:





A R Taig - Director


TTAC Limited (Registered number: 04255380)

Notes to the Financial Statements
for the year ended 31 August 2023

1. STATUTORY INFORMATION

TTAC 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 (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rendering of services
When the outcome of a transaction can be estimated reliably, turnover is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to a notable milestone.
Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Interest and dividends receivable
Interest income is recognised using the effective interest method and dividend income is recognised as the company’s right to receive payment is established.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Computer equipment - 33% straight line on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

TTAC Limited (Registered number: 04255380)

Notes to the Financial Statements - continued
for the year ended 31 August 2023

2. ACCOUNTING POLICIES - continued

Share capital
Ordinary shares are classed as equity.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Distributions to equity holders
Dividends are recognised as a liability in the financial statements in the period in which the dividends are approved by the company's shareholders. These amounts are recognised in the statement of changes in equity.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, cash held with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Computer
equipment
£
COST
At 1 September 2022 6,808
Disposals (5,330 )
At 31 August 2023 1,478
DEPRECIATION
At 1 September 2022 6,808
Eliminated on disposal (5,330 )
At 31 August 2023 1,478
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Tax 829 -
VAT 235 272
1,064 272

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Tax - 1,200
Directors' current accounts 3,318 1,630
Accrued expenses 3,000 3,000
6,318 5,830

TTAC Limited (Registered number: 04255380)

Notes to the Financial Statements - continued
for the year ended 31 August 2023

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end, the balance owed to the director is £3,318 (2022 £1,630). The directors' loan is repayable on demand and attracts no interest.