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REGISTERED NUMBER: 02878809 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Tagg Construction Limited

Tagg Construction Limited (Registered number: 02878809)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company information 1

Balance sheet 2

Notes to the financial statements 3


Tagg Construction Limited

Company Information
for the Year Ended 31 December 2023







Directors: Mrs J Moore
M Moore
G Moore





Secretary: Mrs J Moore





Registered office: The Gatehouse
2 Devonhurst Place
Heathfield Terrace
London
W4 4JD





Registered number: 02878809 (England and Wales)





Accountants: Freeman Carr
Chartered Certified Accountants
The Gatehouse
2 Devonhurst Place
Heathfield Terrace
Chiswick
London
W4 4JD

Tagg Construction Limited (Registered number: 02878809)

Balance Sheet
31 December 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 4 92,815 86,241
Investment property 5 785,000 785,000
877,815 871,241

Current assets
Debtors 6 221,780 102,538
Cash at bank and in hand 427,152 387,595
648,932 490,133
Creditors
Amounts falling due within one year 7 229,362 172,062
Net current assets 419,570 318,071
Total assets less current liabilities 1,297,385 1,189,312

Provisions for liabilities 16,193 10,632
Net assets 1,281,192 1,178,680

Capital and reserves
Called up share capital 1,000 1,000
Retained earnings 1,280,192 1,177,680
1,281,192 1,178,680

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:





Mrs J Moore - Director


Tagg Construction Limited (Registered number: 02878809)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. Statutory information

Tagg Construction 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 as modified by the revaluation of certain assets.

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company only enters into basic financial transactions that result in the recognition of financial assets and liabilities like cash and bank balances, trade and other debtors and creditors, loans from banks and other third parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Tagg Construction Limited (Registered number: 02878809)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. Accounting policies - continued

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.

3. Employees and directors

The average number of employees during the year was 4 (2022 - 4 ) .

4. Tangible fixed assets
Plant and
Land and machinery
buildings etc Totals
£ £ £
Cost
At 1 January 2023 7,657 296,243 303,900
Additions - 43,993 43,993
Disposals - (40,319 ) (40,319 )
At 31 December 2023 7,657 299,917 307,574
Depreciation
At 1 January 2023 7,657 210,002 217,659
Charge for year - 29,933 29,933
Eliminated on disposal - (32,833 ) (32,833 )
At 31 December 2023 7,657 207,102 214,759
Net book value
At 31 December 2023 - 92,815 92,815
At 31 December 2022 - 86,241 86,241

5. Investment property
Total
£
Fair value
At 1 January 2023
and 31 December 2023 785,000
Net book value
At 31 December 2023 785,000
At 31 December 2022 785,000

Fair value at 31 December 2023 is represented by:
£
Valuation in 2022 (20,000 )
Cost 805,000
785,000

6. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 192,926 70,575
Other debtors 28,854 31,963
221,780 102,538

Tagg Construction Limited (Registered number: 02878809)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 46,224 99,152
Taxation and social security 108,686 42,576
Other creditors 74,452 30,334
229,362 172,062

8. Directors' advances, credits and guarantees

At the beginning of the year the amount owed by the directors was £16,857. During the year advances totalling £96,719 were made to the directors and repayments totalling £98,000 were received from the directors. At the year end £15,576 was due from the directors, which was repaid after the yer end. The loans are interest free, unsecured and repayable on demand. The maximum amount outstanding during the year was £16,857.