Tap London Limited |
Registered number: |
08868648 |
Statement of Financial Position |
as at 31 January 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
14,365 |
|
|
20,211 |
|
Current assets |
Debtors |
4 |
|
1,805,235 |
|
|
1,344,666 |
Cash at bank and in hand |
|
|
1,262,892 |
|
|
1,620,775 |
|
|
|
3,068,127 |
|
|
2,965,441 |
|
Creditors: amounts falling due within one year |
5 |
|
(573,000) |
|
|
(372,288) |
|
Net current assets |
|
|
|
2,495,127 |
|
|
2,593,153 |
|
Net assets |
|
|
|
2,509,492 |
|
|
2,613,364 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
1,200 |
|
|
1,200 |
Profit and loss account |
|
|
|
2,508,292 |
|
|
2,612,164 |
|
Shareholders' funds |
|
|
|
2,509,492 |
|
|
2,613,364 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. |
The financial statements have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. Thedirectors' report and statement of income and retained earnings have not been delivered to the Registrar of Companies. |
|
|
|
|
A Haines |
Director |
Approved by the board on 25 October 2024 |
|
Tap London Limited |
Notes to the Financial Statements |
for the year ended 31 January 2024 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The financial statements 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). |
|
|
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 of information technology consultancy. Turnover is recognised in the financial statements in the period the services are provided. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
33% straight line |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is not recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments as this is considered immaterial. |
|
|
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 statement of income and retained earnings. |
|
|
Pensions |
|
The company operates a money purchase pension scheme. Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
36 |
|
30 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
£ |
|
Cost |
|
At 1 February 2023 |
112,564 |
|
Additions |
11,075 |
|
At 31 January 2024 |
123,639 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 February 2023 |
92,353 |
|
Charge for the year |
16,921 |
|
At 31 January 2024 |
109,274 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 January 2024 |
14,365 |
|
At 31 January 2023 |
20,211 |
|
|
4 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Trade debtors |
1,195,297 |
|
902,205 |
|
Rent deposit |
|
44,266 |
|
41,760 |
|
Intercompany loan |
|
|
|
|
559,422 |
|
375,000 |
|
Other debtors |
6,250 |
|
25,701 |
|
|
|
|
|
|
1,805,235 |
|
1,344,666 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Trade creditors |
10,895 |
|
6,376 |
|
Taxation and social security costs |
333,088 |
|
312,501 |
|
Other creditors |
229,017 |
|
53,411 |
|
|
|
|
|
|
573,000 |
|
372,288 |
|
|
|
|
|
|
|
|
|
|
6 |
Related party |
|
|
TAP London Limited is a wholly owned subsidiary of TAP London Holdings Limited incorporated 20 October 2021, a related party of TAP Holdings USA incorporated 20 October 2021, and TAP CXM SLU incorporated in Spain in October 2023. |
|
|
7 |
Other information |
|
|
Tap London Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
1st Floor |
|
2 Woodberry Grove |
|
Finchley |
|
London |
|
N12 0NR |