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REGISTERED NUMBER: 03514547 (England and Wales)
















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

On Tap (South West) Limited

On Tap (South West) Limited (Registered number: 03514547)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


On Tap (South West) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr A Davis
Mrs H Davis





REGISTERED OFFICE: 22 Wessex Park
Bancombe Business Estate
Somerton
Somerset
TA11 6SB





REGISTERED NUMBER: 03514547 (England and Wales)





ACCOUNTANTS: Somerset Accountancy Services Ltd
22 Wessex Park
Bancombe Business Estate
Somerton
Somerset
TA11 6SB

On Tap (South West) Limited (Registered number: 03514547)

Abridged Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 55,342 73,472

CURRENT ASSETS
Stocks 131,865 124,794
Debtors 53,977 82,956
Cash at bank and in hand 136,617 153,537
322,459 361,287
CREDITORS
Amounts falling due within one year 131,060 130,077
NET CURRENT ASSETS 191,399 231,210
TOTAL ASSETS LESS CURRENT
LIABILITIES

246,741

304,682

PROVISIONS FOR LIABILITIES 5 13,210 13,960
NET ASSETS 233,531 290,722

CAPITAL AND RESERVES
Called up share capital 6 202 202
Retained earnings 233,329 290,520
SHAREHOLDERS' FUNDS 233,531 290,722

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

On Tap (South West) Limited (Registered number: 03514547)

Abridged Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2024 and were signed on its behalf by:





Mr A Davis - Director


On Tap (South West) Limited (Registered number: 03514547)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

On Tap (South West) 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.

Motor Vehicles - 15% reducing balance
Plant & Machinery - 25% reducing balance
Fixtures & Fittings - 25% reducing balance
Office Equipment - 25% reducing balance

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

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.

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.

On Tap (South West) Limited (Registered number: 03514547)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 151,511
Additions 2,100
Disposals (24,192 )
At 31 March 2024 129,419
DEPRECIATION
At 1 April 2023 78,039
Charge for year 10,301
Eliminated on disposal (14,263 )
At 31 March 2024 74,077
NET BOOK VALUE
At 31 March 2024 55,342
At 31 March 2023 73,472

5. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 13,210 13,960

Deferred
tax
£   
Balance at 1 April 2023 13,960
Accelerated Capital Allowances (750 )
Balance at 31 March 2024 13,210

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
196 Ordinary A £1 196 196
3 Ordinary B £1 3 3
1 Ordinary C £1 1 1
1 Ordinary D £1 1 1
1 Ordinary E £1 1 1
202 202