Company registration number 12666330 (England and Wales)
TAG SURVEYS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
TAG SURVEYS LTD
COMPANY INFORMATION
Directors
Mr S P Birchley
Mr S M McIntyre
Company number
12666330
Registered office
Access House (Rear)
Unit 1 Sherwood Road
Aston Fields
B60 3DR
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
HSBC Bank Plc
47 High Street
Bromsgrove
Worcestershire
B61 8AW
TAG SURVEYS LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
TAG SURVEYS LTD
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF TAG SURVEYS LTD FOR THE YEAR ENDED 30 JUNE 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of TAG Surveys Ltd for the year ended 30 June 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of TAG Surveys Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of TAG Surveys Ltd and state those matters that we have agreed to state to the board of directors of TAG Surveys Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than TAG Surveys Ltd and its board of directors as a body, for our work or for this report.

It is your duty to ensure that TAG Surveys Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of TAG Surveys Ltd. You consider that TAG Surveys Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of TAG Surveys Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
10 October 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
TAG SURVEYS LTD
BALANCE SHEET
AS AT 30 JUNE 2024
30 June 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
36,393
47,052
Investments
4
1
-
0
36,394
47,052
Current assets
Debtors
5
62,261
49,508
Cash at bank and in hand
14,258
67,822
76,519
117,330
Creditors: amounts falling due within one year
6
(39,438)
(56,442)
Net current assets
37,081
60,888
Total assets less current liabilities
73,475
107,940
Provisions for liabilities
7
(9,098)
(11,763)
Net assets
64,377
96,177
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
64,277
96,077
Total equity
64,377
96,177

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

TAG SURVEYS LTD
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024
30 June 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 10 October 2024 and are signed on its behalf by:
Mr S P Birchley
Director
Company registration number 12666330 (England and Wales)
TAG SURVEYS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
1
Accounting policies
Company information

TAG Surveys Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Access House (Rear), Unit 1 Sherwood Road, Aston Fields, B60 3DR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% on reducing balance
Fixtures and fittings
20% on reducing balance
Computer equipment
20% on reducing balance
Motor vehicles
33% on cost
1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

TAG SURVEYS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 5 -

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
4
4
TAG SURVEYS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 July 2023
39,748
-
0
4,946
44,920
89,614
Additions
9,780
200
383
-
0
10,363
At 30 June 2024
49,528
200
5,329
44,920
99,977
Depreciation and impairment
At 1 July 2023
13,670
-
0
1,205
27,687
42,562
Depreciation charged in the year
7,172
40
826
12,984
21,022
At 30 June 2024
20,842
40
2,031
40,671
63,584
Carrying amount
At 30 June 2024
28,686
160
3,298
4,249
36,393
At 30 June 2023
26,078
-
0
3,741
17,233
47,052
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
1
-
0
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 July 2023
-
Additions
1
At 30 June 2024
1
Carrying amount
At 30 June 2024
1
At 30 June 2023
-
TAG SURVEYS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
39,568
29,508
Amounts owed by group undertakings
22,693
-
0
Other debtors
-
0
20,000
62,261
49,508
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
150
167
Taxation and social security
36,750
53,975
Other creditors
2,538
2,300
39,438
56,442
7
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
9,098
11,763
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
49
50
49
50
Ordinary B of £1 each
49
50
49
50
Ordinary C of £1 each
1
-
1
-
Ordinary D of £1 each
1
-
1
-
100
100
100
100
9
Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10
Ultimate controlling party

There is no ultimate controlling party.

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