IRIS Accounts Production v24.1.0.578 06831366 director 1.8.22 31.7.23 31.7.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh068313662022-07-31068313662023-07-31068313662022-08-012023-07-31068313662021-07-31068313662021-08-012022-07-31068313662022-07-3106831366ns15:EnglandWales2022-08-012023-07-3106831366ns14:PoundSterling2022-08-012023-07-3106831366ns10:Director12022-08-012023-07-3106831366ns10:PrivateLimitedCompanyLtd2022-08-012023-07-3106831366ns10:SmallEntities2022-08-012023-07-3106831366ns10:AuditExempt-NoAccountantsReport2022-08-012023-07-3106831366ns10:SmallCompaniesRegimeForDirectorsReport2022-08-012023-07-3106831366ns10:SmallCompaniesRegimeForAccounts2022-08-012023-07-3106831366ns10:FullAccounts2022-08-012023-07-3106831366ns10:RegisteredOffice2022-08-012023-07-3106831366ns5:CurrentFinancialInstruments2023-07-3106831366ns5:CurrentFinancialInstruments2022-07-3106831366ns5:ShareCapital2023-07-3106831366ns5:ShareCapital2022-07-3106831366ns5:RetainedEarningsAccumulatedLosses2023-07-3106831366ns5:RetainedEarningsAccumulatedLosses2022-07-3106831366ns5:PlantMachinery2022-08-012023-07-3106831366ns5:PlantMachinery2022-07-3106831366ns5:PlantMachinery2023-07-3106831366ns5:PlantMachinery2022-07-3106831366ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-07-3106831366ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-07-31
REGISTERED NUMBER: 06831366 (England and Wales)





Tap-in Supplies Limited

Unaudited Financial Statements

for the Year Ended 31 July 2023






Tap-in Supplies Limited (Registered number: 06831366)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Tap-in Supplies Limited

Company Information
for the year ended 31 July 2023







DIRECTOR: M Richards





REGISTERED OFFICE: Unit 1 Great Northern Road
Keighley
West Yorkshire
BD21 5JH





REGISTERED NUMBER: 06831366 (England and Wales)





ACCOUNTANTS: Simon Hart FCCA
Hart Wright Accounting
Chartered Certified Accountants
24 Hall Drive
Sutton In Craven
North Yorkshire
BD20 7NH

Tap-in Supplies Limited (Registered number: 06831366)

Balance Sheet
31 July 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 88,094 41,457

CURRENT ASSETS
Stocks 458,186 468,004
Debtors 5 1,799,746 1,715,453
Cash at bank and in hand 153,101 154,180
2,411,033 2,337,637
CREDITORS
Amounts falling due within one year 6 (535,323 ) (532,752 )
NET CURRENT ASSETS 1,875,710 1,804,885
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,963,804

1,846,342

PROVISIONS FOR LIABILITIES (16,993 ) (10,741 )
NET ASSETS 1,946,811 1,835,601

CAPITAL AND RESERVES
Called up share capital 102 102
Retained earnings 1,946,709 1,835,499
1,946,811 1,835,601

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 5 April 2024 and were signed by:



M Richards - Director


Tap-in Supplies Limited (Registered number: 06831366)

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

1. STATUTORY INFORMATION

Tap-in Supplies 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Tap-in Supplies Limited (Registered number: 06831366)

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

2. ACCOUNTING POLICIES - continued

Government grants
Government grants are recognised as other income once there is reasonable assurance that all conditions relating to the grant have been attained and that the grant will be received.

During the year the company was in receipt of relief in respect of the Bounce Back Loan Scheme (BBLS). The Business Interruption Payment made by the government on behalf of the company has been brought in as grant income and reflects the amounts relating to the financial year.

During the year the company was in receipt of relief in respect of the Coronavirus Job Retention Scheme. The income is recorded based on the claim periods made relating to the financial year.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022 146,094
Additions 80,596
At 31 July 2023 226,690
DEPRECIATION
At 1 August 2022 104,637
Charge for year 33,959
At 31 July 2023 138,596
NET BOOK VALUE
At 31 July 2023 88,094
At 31 July 2022 41,457

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 174,946 171,140
Other debtors 1,624,800 1,544,313
1,799,746 1,715,453

Included within Other Debtors are outstanding Loans to Topline (£505,000) and C Dacre (£42,285).

Tap-in Supplies Limited (Registered number: 06831366)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 169,804 165,013
Taxation and social security 36,976 31,070
Other creditors 328,543 336,669
535,323 532,752

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bounce Back Loan 26,187 37,032

The UK Government have provided a 100% guarantee on the Bounce Back Loan Scheme (BBLS), borrowings obtained from the Santander Bank PLC in the year.