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Company Registration No. 07007284 (England and Wales)
Target Associates Ltd Unaudited accounts for the year ended 30 October 2023
Target Associates Ltd Unaudited accounts Contents
Page
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Target Associates Ltd Statement of financial position as at 30 October 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Debtors
33,159 
36,108 
Cash at bank and in hand
7,117 
29,609 
40,276 
65,717 
Creditors: amounts falling due within one year
(18,886)
(19,418)
Net current assets
21,390 
46,299 
Total assets less current liabilities
21,390 
46,299 
Creditors: amounts falling due after more than one year
(21,258)
(46,254)
Net assets
132 
45 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
131 
44 
Shareholders' funds
132 
45 
For the year ending 30 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 7 October 2024 and were signed on its behalf by
G D E Coomber Director Company Registration No. 07007284
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Target Associates Ltd Notes to the Accounts for the year ended 30 October 2023
1
Statutory information
Target Associates Ltd is a private company, limited by shares, registered in England and Wales, registration number 07007284. The registered office is NM Business Suites, Abacus House Station Yard, Needham Market, Suffolk, IP6 8AS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33% straight line
Stocks
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset. Deferred tax assets and liabilities are not discounted.
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Target Associates Ltd Notes to the Accounts for the year ended 30 October 2023
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 31 October 2022
7,473 
At 30 October 2023
7,473 
Depreciation
At 31 October 2022
7,473 
At 30 October 2023
7,473 
Net book value
At 30 October 2023
- 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
25,818 
29,112 
Accrued income and prepayments
1,384 
- 
Other debtors
5,957 
6,996 
33,159 
36,108 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
2,210 
2,240 
Trade creditors
745 
188 
Taxes and social security
12,443 
15,748 
Other creditors
208 
722 
Loans from directors
3,280 
520 
18,886 
19,418 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
21,258 
46,254 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
9
Average number of employees
During the year the average number of employees was 4 (2022: 4).
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