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REGISTERED NUMBER: 06806831 (England and Wales)











TAG Racing Limited

Unaudited Financial Statements

for the Year Ended 29 February 2024






TAG Racing Limited (Registered number: 06806831)

Contents of the Financial Statements
for the Year Ended 29 February 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


TAG Racing Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: R Winfield
Mrs T Winfield





REGISTERED OFFICE: 6 Charterpoint Way
Ashby De La Zouch
Leicestershire
LE65 1NF





REGISTERED NUMBER: 06806831 (England and Wales)





ACCOUNTANTS: Haines Watts
6 Charter Point Way
Ashby Business Park
Ashby De La Zouch
Leicestershire
LE65 1NF

TAG Racing Limited (Registered number: 06806831)

Statement of Financial Position
29 February 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Cash at bank 49,032 28,848

CREDITORS
Amounts falling due within one year 4 34,031 23,015
NET CURRENT ASSETS 15,001 5,833
TOTAL ASSETS LESS CURRENT LIABILITIES 15,001 5,833

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 14,901 5,733
15,001 5,833

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by:





Mrs T Winfield - Director


TAG Racing Limited (Registered number: 06806831)

Notes to the Financial Statements
for the Year Ended 29 February 2024


1. STATUTORY INFORMATION

TAG Racing Limited is a private company, limited by shares , registered in England and Wales. 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.

These accounts have been prepared on a going concern basis with the support of the directors and shareholders for the foreseeable future.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 12,838 3,725
VAT 5,937 3,990
Directors' current accounts 14,366 14,366
Accruals and deferred income 890 934
34,031 23,015

5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the director, Mrs T Winfield, made loans to the company totalling £14,366 (£2023 - £14,366). The loans are interest free and repayable on demand.