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Company Registration No. 03925681 (England and Wales)
Taildraggers Limited Unaudited accounts for the year ended 31 March 2024
Taildraggers Limited Unaudited accounts Contents
Page
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Taildraggers Limited Company Information for the year ended 31 March 2024
Director
James Newman
Secretary
Kim Newman
Company Number
03925681 (England and Wales)
Registered Office
Reeds The Street Benenden Cranbrook Kent TN17 4DB
Accountants
ASTON STEELE Aston House Cotchford Hill, Hartfield Sussex TN7 4HA
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Taildraggers Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
37,059 
46,300 
Current assets
Debtors
6,798 
11,550 
Cash at bank and in hand
8,066 
2,475 
14,864 
14,025 
Creditors: amounts falling due within one year
(121,243)
(92,905)
Net current liabilities
(106,379)
(78,880)
Net liabilities
(69,320)
(32,580)
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
(69,322)
(32,582)
Shareholders' funds
(69,320)
(32,580)
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 August 2024 and were signed on its behalf by
James Newman Director Company Registration No. 03925681
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Taildraggers Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Taildraggers Limited is a private company, limited by shares, registered in England and Wales, registration number 03925681. The registered office is Reeds The Street, Benenden, Cranbrook, Kent, TN17 4DB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of services is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20%
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Taildraggers Limited Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2023
87,607 
7,530 
95,137 
Additions
- 
140 
140 
Disposals
- 
(1,683)
(1,683)
At 31 March 2024
87,607 
5,987 
93,594 
Depreciation
At 1 April 2023
42,909 
5,928 
48,837 
Charge for the year
8,940 
441 
9,381 
On disposals
- 
(1,683)
(1,683)
At 31 March 2024
51,849 
4,686 
56,535 
Net book value
At 31 March 2024
35,758 
1,301 
37,059 
At 31 March 2023
44,698 
1,602 
46,300 
The
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
6,798 
11,550 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
4,054 
3,054 
Taxes and social security
183 
(167)
Loans from directors
114,803 
87,415 
Accruals
2,203 
2,603 
121,243 
92,905 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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