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REGISTERED NUMBER: 03520857 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Target Manufacturing Limited

Target Manufacturing Limited (Registered number: 03520857)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Target Manufacturing Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: R A Goatley
L R Goatley





SECRETARY: L R Goatley





REGISTERED OFFICE: Unit 5, Candy Lane
Thornhill
Southampton
Hampshire
SO18 5TG





REGISTERED NUMBER: 03520857 (England and Wales)





ACCOUNTANTS: CBM Accountants Limited
130 Bournemouth Road
Chandler's Ford
Eastleigh
Hampshire
SO53 3AL

Target Manufacturing Limited (Registered number: 03520857)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,835 14,946
Investment property 5 144,482 -
155,317 14,946

CURRENT ASSETS
Stocks 9,750 9,800
Debtors 6 1,164 3,370
Cash at bank and in hand 62,278 170,100
73,192 183,270
CREDITORS
Amounts falling due within one year 7 31,075 23,883
NET CURRENT ASSETS 42,117 159,387
TOTAL ASSETS LESS CURRENT
LIABILITIES

197,434

174,333

CREDITORS
Amounts falling due after more than one
year

8

10,000

10,000
NET ASSETS 187,434 164,333

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 187,334 164,233
187,434 164,333

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.

Target Manufacturing Limited (Registered number: 03520857)

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.

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 26 September 2024 and were signed on its behalf by:




R A Goatley - Director



L R Goatley - Director


Target Manufacturing Limited (Registered number: 03520857)

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

1. STATUTORY INFORMATION

Target Manufacturing 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.
Long leasehold - 10% on cost
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Target Manufacturing Limited (Registered number: 03520857)

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

4. TANGIBLE FIXED ASSETS
Long Plant and Motor
leasehold machinery vehicles Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 5,293 17,186 37,733 60,212
DEPRECIATION
At 1 April 2023 4,793 15,822 24,651 45,266
Charge for year 500 341 3,270 4,111
At 31 March 2024 5,293 16,163 27,921 49,377
NET BOOK VALUE
At 31 March 2024 - 1,023 9,812 10,835
At 31 March 2023 500 1,364 13,082 14,946

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 144,482
At 31 March 2024 144,482
NET BOOK VALUE
At 31 March 2024 144,482

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,164 3,370

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 5,045 7,250
Taxation and social security 22,792 14,743
Other creditors 3,238 1,890
31,075 23,883

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 10,000 10,000