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Registration number: 09710812

Tarifa Networks Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2024

 

Tarifa Networks Ltd

Contents

Company Information

1

Directors' Report

2

Abridged Statement of Financial Position

3

Statement of Changes in Equity

4

Notes to the Unaudited Abridged Financial Statements

5 to 7

 

Tarifa Networks Ltd

Company Information

Directors

S Safai

Katarina Safai

Registered office

12 Bridewell Place
Third Floor East
London
EC4V 6AP

 

Tarifa Networks Ltd

Directors' Report for the Year Ended 31 March 2024

The directors present their report and the abridged financial statements for the year ended 31 March 2024.

Directors of the company

The directors who held office during the year were as follows:

S Safai

Katarina Safai (appointed 1 September 2023)

Principal activity

The principal activity of the company is that of Information technology consultancy activities.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 4 December 2024 and signed on its behalf by:
 

.........................................
S Safai
Director

 

Tarifa Networks Ltd

(Registration number: 09710812)
Abridged Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

335

-

Current assets

 

Debtors

5

-

133

Cash at bank and in hand

 

653

234

 

653

367

Creditors: Amounts falling due within one year

(425)

-

Net current assets

 

228

367

Total assets less current liabilities

 

563

367

Accruals and deferred income

 

(3,300)

(3,000)

Net liabilities

 

(2,737)

(2,633)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(2,738)

(2,634)

Shareholders' deficit

 

(2,737)

(2,633)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Income Statement and an Abridged Statement of Financial Position in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 4 December 2024 and signed on its behalf by:
 

.........................................
S Safai
Director

 

Tarifa Networks Ltd

Statement of Changes in Equity for the Year Ended 31 March 2024

Share capital
£

Retained earnings
£

Total
£

At 1 April 2023

1

(2,634)

(2,633)

Loss for the year

-

(104)

(104)

At 31 March 2024

1

(2,738)

(2,737)

Share capital
£

Retained earnings
£

Total
£

At 1 April 2022

1

14,370

14,371

Loss for the year

-

(1,004)

(1,004)

Dividends

-

(16,000)

(16,000)

At 31 March 2023

1

(2,634)

(2,633)

 

Tarifa Networks Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
12 Bridewell Place
Third Floor East
London
EC4V 6AP

These financial statements were authorised for issue by the Board on 4 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change
attributable to an item of income or expense recognised as other comprehensive income is also recognised
directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or
substantively enacted by the reporting date in the countries where the company operates and generates taxable
income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Tarifa Networks Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

Tarifa Networks Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

350

350

At 31 March 2024

350

350

Depreciation

Charge for the year

15

15

At 31 March 2024

15

15

Carrying amount

At 31 March 2024

335

335

5

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

6

Dividends

2024

2023

£

£

Interim dividend of £Nil (2023 - £16,000.00) per ordinary share

-

16,000

 

 

7

Related party transactions

Summary of transactions with other related parties

The ultimate beneficial owner are the directors.