Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 08520295 M B Davies S L Kitson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08520295 2022-12-31 08520295 2023-12-31 08520295 2023-01-01 2023-12-31 08520295 frs-core:CurrentFinancialInstruments 2023-12-31 08520295 frs-core:ShareCapital 2023-12-31 08520295 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 08520295 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08520295 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 08520295 frs-bus:SmallEntities 2023-01-01 2023-12-31 08520295 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08520295 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08520295 frs-bus:Director1 2023-01-01 2023-12-31 08520295 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 08520295 frs-countries:EnglandWales 2023-01-01 2023-12-31 08520295 2021-12-31 08520295 2022-12-31 08520295 2022-01-01 2022-12-31 08520295 frs-core:CurrentFinancialInstruments 2022-12-31 08520295 frs-core:ShareCapital 2022-12-31 08520295 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 08520295
Tacam Steel (UK) Limited
Financial Statements
For The Year Ended 31 December 2023
William Price & Co Limited
Chartered Accountants
Westbury Court Church Road
Westbury On Trym
Bristol
BS9 3EF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 08520295
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 119,930 413,002
119,930 413,002
Creditors: Amounts Falling Due Within One Year 5 (1,312,777 ) (1,552,576 )
NET CURRENT ASSETS (LIABILITIES) (1,192,847 ) (1,139,574 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,192,847 ) (1,139,574 )
NET LIABILITIES (1,192,847 ) (1,139,574 )
CAPITAL AND RESERVES
Called up share capital 6 100,001 100,001
Profit and Loss Account (1,292,848 ) (1,239,575 )
SHAREHOLDERS' FUNDS (1,192,847) (1,139,574)
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Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
M B Davies
Director
2 May 2024
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Tacam Steel (UK) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08520295 . The registered office is Westbury Court Church Road, Westbury-On-Trym, Bristol, BS9 3EF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.
The company suffered operating losses in the year ended 31 December 2023 and four previous financial years mostly caused by extensive amount of labour needed to install steel doors on one of its projects completed in summer 2023. As a result, the company has overdue liabilities as of 31 December 2023, including tax liabilities of £381,050. The company got involved in another building project starting from January 2024.
After having received assurances from the holding company regarding continued support, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
2.3. Turnover
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
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4. Debtors
2023 2022
£ £
Due within one year
Trade debtors 236 100,151
Amounts recoverable on contracts 100,066 276,051
Amounts owed by participating interests 14,628 1,089
Other debtors 5,000 35,711
119,930 413,002
Amounts owed by participating interests as of 31 December 2023 and 31 December 2022 include amounts due from the company controlled by the director. These amounts are unsecured, interest free and payable on demand.
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 2,322 6,102
Amounts owed to group undertakings 913,989 1,191,442
Other creditors 10,052 41,162
Taxation and social security 386,414 313,870
1,312,777 1,552,576
Amounts owed to group undertakings as of 31 December 2023 and 31 December 2022 are unsecured, interest free and due on demand.
6. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100,001 100,001
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