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TAPETA FOOTINGS LIMITED

Registered Number
06462616
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

TAPETA FOOTINGS LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

DICKINSON, Michael William, President
WAKEFIELD, Joan

Company Secretary

MEWIES, John Christopher

Registered Address

Clifford House, Keighley Road
Skipton
North Yorkshire
BD23 2NB

Registered Number

06462616 (England and Wales)
TAPETA FOOTINGS LIMITED
Statement of Financial Position
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets323,52131,361
23,52131,361
Current assets
Debtors1,814,69923,485
Cash at bank and on hand32,9131,971,406
1,847,6121,994,891
Creditors amounts falling due within one year5(3,500)(110,466)
Net current assets (liabilities)1,844,1121,884,425
Total assets less current liabilities1,867,6331,915,786
Provisions for liabilities6(6,000)(6,000)
Net assets1,861,6331,909,786
Capital and reserves
Called up share capital22
Profit and loss account1,861,6311,909,784
Shareholders' funds1,861,6331,909,786
The financial statements were approved and authorised for issue by the Board of Directors on 27 March 2024, and are signed on its behalf by:
WAKEFIELD, Joan
Director
Registered Company No. 06462616
TAPETA FOOTINGS LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis 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.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The directors believe that the company has adequate resources to continue in operational existence for the foreseeable future. The company continues to have the support of the directors and shareholders and therefore continue to adapt the going concern basis of accounting in preparing financial statements.
Turnover policy
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/or 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
2.Average number of employees

20232022
Average number of employees during the year22
3.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 January 23224,357224,357
At 31 December 23224,357224,357
Depreciation and impairment
At 01 January 23192,996192,996
Charge for year7,8407,840
At 31 December 23200,836200,836
Net book value
At 31 December 2323,52123,521
At 31 December 2231,36131,361
4.Debtors: amounts due within one year

2023

2022

££
Amounts owed by group undertakings1,743,346-
Other debtors31,77023,485
Prepayments and accrued income39,583-
Total1,814,69923,485
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.
5.Creditors: amounts due within one year

2023

2022

££
Amounts owed to related parties-50,455
Taxation and social security-56,511
Accrued liabilities and deferred income3,5003,500
Total3,500110,466
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.
6.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)6,0006,000
Total6,0006,000
7.Related party transactions
Included within debtors due within one year is a loan due from the directors of the company of £23,485 (2022 - £23,485). The balance is interest free and repayable on demand. Included within debtors due within one year is a loan due from a company under common control of £1,741,361 (2022 - Creditor £50,455). The balance is interest free and repayable on demand.