2023-02-012024-01-312024-01-31false08870650Tagshaw Consulting 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Tagshaw Consulting Limited

Registered Number
08870650
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

Tagshaw Consulting Limited
Company Information
for the year from 1 February 2023 to 31 January 2024

Director

Swagath Ramegowda

Registered Address

5 Albert Road
Southsea
PO5 2SE

Registered Number

08870650 (England and Wales)
Tagshaw Consulting Limited
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets314,86119,021
Investments246,486206,142
261,347225,163
Current assets
Debtors403,909443,116
Cash at bank and on hand1,007,772738,159
1,411,6811,181,275
Creditors amounts falling due within one year4(303,927)(444,980)
Net current assets (liabilities)1,107,754736,295
Total assets less current liabilities1,369,101961,458
Provisions for liabilities(2,945)(3,614)
Net assets1,366,156957,844
Capital and reserves
Called up share capital22
Profit and loss account1,366,154957,842
Shareholders' funds1,366,156957,844
The financial statements were approved and authorised for issue by the Director on 29 July 2024, and are signed on its behalf by:
Swagath Ramegowda
Director
Registered Company No. 08870650
Tagshaw Consulting Limited
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover policy
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 sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.Average number of employees

20242023
Average number of employees during the year1714
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 February 2331,447
Additions4,846
At 31 January 2436,293
Depreciation and impairment
At 01 February 2312,426
Charge for year9,006
At 31 January 2421,432
Net book value
At 31 January 2414,861
At 31 January 2319,021
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables11,84811,547
Taxation and social security283,663406,810
Other creditors7,94224,691
Accrued liabilities and deferred income4741,932
Total303,927444,980
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
Swagath Ramegowda206,14140,3450246,486
206,14140,3450246,486
The director maintains a loan with the company, the balance outstanding by the director was £246,486 for the period ended 31 January 2024 (2023: £206,141) and shown in other debtors.