Registered number
11953727
Taff Residential Limited
Report and Accounts
31 March 2024
Accountancy 4 Tax Savings Limited
Accountants and Business Advisors
33 Wolverhampton Road
Cannock
Staffordshire
WS11 1AP
Taff Residential Limited
Registered number: 11953727
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 202,000 202,000
Tangible assets 4 37,233 38,551
239,233 240,551
Current assets
Debtors 5 10,661 14,190
Creditors: amounts falling due within one year 6 (83,019) (77,437)
Net current liabilities (72,358) (63,247)
Total assets less current liabilities 166,875 177,304
Creditors: amounts falling due after more than one year 7 (131,065) (140,941)
Provisions for liabilities (1,738) (2,318)
Net assets 34,072 34,045
Capital and reserves
Called up share capital 1 1
Profit and loss account 34,071 34,044
Shareholders' funds 34,072 34,045
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.
Andrew Taff
Director
Approved by the board on 24 September 2024
Taff Residential Limited
Notes to the Accounts
for the year ended 31 March 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.
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 202,000
At 31 March 2024 202,000
Amortisation
At 31 March 2024 -
Net book value
At 31 March 2024 202,000
At 31 March 2023 202,000
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 29,280 12,349 41,629
Additions 1,000 - 1,000
At 31 March 2024 30,280 12,349 42,629
Depreciation
At 1 April 2023 - 3,078 3,078
Charge for the year - 2,318 2,318
At 31 March 2024 - 5,396 5,396
Net book value
At 31 March 2024 30,280 6,953 37,233
At 31 March 2023 29,280 9,271 38,551
5 Debtors 2024 2023
£ £
Trade debtors 10,661 14,190
6 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax 1,667 1,253
Other creditors 81,352 76,184
83,019 77,437
7 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 131,065 140,941
8 Related party transactions
There are no related party transactions.
9 Controlling party
The company is controlled by its directors who are the shareholders.
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