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REGISTERED NUMBER: SC437126 (Scotland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

TACTUUM LTD

TACTUUM LTD (REGISTERED NUMBER: SC437126)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TACTUUM LTD

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: M I Buchner
N Francoeur
V Tran





REGISTERED OFFICE: 280 St Vincent Street
Glasgow
G2 5RL





REGISTERED NUMBER: SC437126 (Scotland)





ACCOUNTANTS: K M Stewart & Company
6 Miller Road
Ayr
KA7 2AY

TACTUUM LTD (REGISTERED NUMBER: SC437126)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 71,864 53,522
Investments 5 50,404 -
122,268 53,522

CURRENT ASSETS
Debtors 6 603,990 457,747
Cash at bank and in hand 363,935 602,464
967,925 1,060,211
CREDITORS
Amounts falling due within one year 7 418,007 425,606
NET CURRENT ASSETS 549,918 634,605
TOTAL ASSETS LESS CURRENT
LIABILITIES

672,186

688,127

CREDITORS
Amounts falling due after more than one
year

8

(14,921

)

(24,807

)

PROVISIONS FOR LIABILITIES (6,059 ) (5,666 )
NET ASSETS 651,206 657,654

CAPITAL AND RESERVES
Called up share capital 9 8 4
Retained earnings 10 651,198 657,650
SHAREHOLDERS' FUNDS 651,206 657,654

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

TACTUUM LTD (REGISTERED NUMBER: SC437126)

BALANCE SHEET - continued
31 December 2023


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 7 November 2024 and were signed on its behalf by:





M I Buchner - Director


TACTUUM LTD (REGISTERED NUMBER: SC437126)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Tactuum Ltd is a private company, limited by shares , registered in Scotland. 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.

Functional currency
The financial statements are presented in British Pounds Sterling which is the functional currency. Figures are shown to the nearest whole pound.

Significant judgements and estimates
The preparation of financial statements requires the use of certain accounting estimates . It also requires the Directors to exercise judgement in applying the Companies Accounting policies. The areas requiring a higher degree of judgement, or complexity, and areas where assumptions or estimates are most significant to the financial statements, are disclosed below:

Estimation Uncertainty

Useful life of properties, plant and equipment
The Company assesses the useful life of its properties, plant and equipment and estimates the annual charge to be depreciated based on this.

Recoverability of Debtors
The Company assesses the recoverability of Debtors on an individual basis, taking into consideration payment history, and perceived liquidity. Where it is considered that there is a higher than normal risk to the recoverability of these, provision is made against the recoverability of these debts.

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.
Improvements to property - Fully depreciated
Fixtures and fittings - at varying rates on cost
Computer equipment - 33.3% on cost

Financial instruments
Classification
The Company believes all financial instruments are Basic Financial Instruments. Therefore, the Company recognises these in accordance with Section 11 of the Financial Reporting Standard.

Recognition and measurement
The company's debt instruments are measured at amortised cost using the effective interest rate method.

Impairment
Financial instruments are reviewed annually for impairment.


TACTUUM LTD (REGISTERED NUMBER: SC437126)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 18 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 29,128 21,680 30,466 81,274
Additions 23,492 6,239 12,079 41,810
At 31 December 2023 52,620 27,919 42,545 123,084
DEPRECIATION
At 1 January 2023 5,428 7,090 15,232 27,750
Charge for year 7,218 5,544 10,708 23,470
At 31 December 2023 12,646 12,634 25,940 51,220
NET BOOK VALUE
At 31 December 2023 39,974 15,285 16,605 71,864
At 31 December 2022 23,700 14,590 15,234 53,524

TACTUUM LTD (REGISTERED NUMBER: SC437126)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
Additions 50,404
At 31 December 2023 50,404
NET BOOK VALUE
At 31 December 2023 50,404

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 160,517 31,363
Amounts owed by associates 34,890 39,360
Other debtors 408,583 387,024
603,990 457,747

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 79,099 68,034
Taxation and social security 95,802 82,565
Other creditors 233,106 265,007
418,007 425,606

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 14,921 24,807

The bank loan is repayable in instalments over 6 years. The loan is guaranteed by government and carries an interest rate of 2.5% p.a.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
8 Ordinary £1 8 4

4 shares of £1 each were issued against 1,000,000 shares of common stock with no par value in Tactuum Inc. a Washington Corporation.

TACTUUM LTD (REGISTERED NUMBER: SC437126)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

10. RESERVES
Retained
earnings
£   

At 1 January 2023 657,652
Deficit for the year (6,454 )
At 31 December 2023 651,198

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
**UNKNOWN DIRECTOR 1**
Balance outstanding at start of year - -
Amounts advanced 6,448 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 6,448 -

12. RELATED PARTY DISCLOSURES

The company has made payments to directors £229,500 (2022: £265,917) for consulting services provided during the year via companies for which they are also directors.

Buchner Solutions Limited were paid £151,100 (2022: £186,917) and Han Shen Jie Ltd £78,400 (2022: £79,000).