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Registered number: 12377670














TAUNT DIGITAL LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
TAUNT DIGITAL LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 7


 
TAUNT DIGITAL LIMITED
REGISTERED NUMBER:12377670

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
2,727
3,749

Tangible assets
 5 
7,887
10,579

  
10,614
14,328

Current assets
  

Debtors: amounts falling due within one year
 6 
15,292
35,491

Cash at bank and in hand
 7 
66,387
35,667

  
81,679
71,158

Creditors: amounts falling due within one year
 8 
(18,223)
(20,762)

Net current assets
  
 
 
63,456
 
 
50,396

Total assets less current liabilities
  
74,070
64,724

Provisions for liabilities
  

Deferred tax
 9 
(1,972)
(2,645)

  
 
 
(1,972)
 
 
(2,645)

Net assets
  
72,098
62,079


Capital and reserves
  

Called up share capital 
 10 
1
1

Profit and loss account
  
72,097
62,078

  
72,098
62,079


1

 
TAUNT DIGITAL LIMITED
REGISTERED NUMBER:12377670
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M Kalantidis
Director

Date: 30 August 2024

The notes on pages 3 to 7 form part of these financial statements.

2

 
TAUNT DIGITAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Taunt Digital Limited is a private company, limited by shares, registered in England and Wales, registration number 12377670. The registered office address is 20-22 Wenlock Road, London, N1 7GU.

The principal activity of the company is providing digital marketing consultancy for the creative industries.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention 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.
The company's functional and presentational currency is pound sterling.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover from provision digital services is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Interest income

Interest income is recognised in profit and loss account using the effective interest method.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporate tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3

 
TAUNT DIGITAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
Straight-line
Computer equipment
-
25%
Straight-line

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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. 

 
2.10

 Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

 
2.11

 Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

4

 
TAUNT DIGITAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

The average monthly number of employees, including the director, during the year was 1 (2022 - 1).


4.


Intangible assets




Patents

£



Cost


At 1 January 2023
5,110



At 31 December 2023

5,110



Amortisation


At 1 January 2023
1,361


Charge for the year on owned assets
1,022



At 31 December 2023

2,383



Net book value



At 31 December 2023
2,727



At 31 December 2022
3,749



5

 
TAUNT DIGITAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost 


At 1 January 2023
1,267
14,068
15,335


Additions
-
1,379
1,379



At 31 December 2023

1,267
15,447
16,714



Depreciation


At 1 January 2023
689
4,065
4,754


Charge for the year on owned assets
253
3,820
4,073



At 31 December 2023

942
7,885
8,827



Net book value



At 31 December 2023
325
7,562
7,887



At 31 December 2022
577
10,003
10,580


6.


Debtors

2023
2022
£
£


Trade debtors
7,775
30,475

Other debtors
2,713
3,365

Prepayments and accrued income
4,804
1,651

15,292
35,491



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank
66,387
35,667


6

 
TAUNT DIGITAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
800
386

Corporation tax
11,862
15,053

Other taxation and social security
3,161
-

Other creditors
-
275

Accruals
2,400
5,048

18,223
20,762



9.


Deferred taxation




2023
2022


£

£






At beginning of year
(2,645)
(1,516)


Charged to profit or loss
673
(1,129)



At end of year
(1,972)
(2,645)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(1,972)
(2,645)

(1,972)
(2,645)


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1



11.


Related party transactions

Included within other debtors at the year end is an amount of £2,713 (2022 - £275 due to) due from the director. The loan is interest free and repayable on demand.

During the year, the director has been paid dividends of £32,775 (2022 - £30,473).

 
7