Registered number
12826342
Tao Infinity Limited
Filleted Accounts
31 July 2024
Tao Infinity Limited
Registered number: 12826342
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 246,028 246,028
Current assets
Cash at bank and in hand 8,410 16,500
Creditors: amounts falling due within one year 4 (61,778) (73,388)
Net current liabilities (53,368) (56,888)
Total assets less current liabilities 192,660 189,140
Creditors: amounts falling due after more than one year 5 (186,662) (186,662)
Net assets 5,998 2,478
Capital and reserves
Called up share capital 2 2
Profit and loss account 5,996 2,476
Shareholders' funds 5,998 2,478
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 accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ngo Chun Nigel Tao
Director
Approved by the board on 1 October 2024
Tao Infinity Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
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).
Turnover
Turnover represents the rental receivable from the investment property held by the company.
Investment Properties
All Investment properties are carried at fair value determined annually and derived from the current market rents and investement property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Investments
Other
investments
£
Cost
At 1 August 2023 246,028
At 31 July 2024 246,028
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 452 452
Taxation and social security costs 1,497 1,527
Other creditors 59,829 71,409
61,778 73,388
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 186,662 186,662
6 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 186,662 186,662
The bank loan is secured on the investment property.
7 Other information
Tao Infinity Limited is a private company limited by shares and incorporated in England. Its registered office is:
925 Finchley Road
London
NW11 7PE
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