Registered number
11303976
TAPS Management Ltd
Filleted Accounts
30 April 2024
TAPS Management Ltd
Registered number: 11303976
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 372,763 372,955
Current assets
Stocks - 1,200
Debtors 4 20,640 9,222
Cash at bank and in hand 67,726 46,979
88,366 57,401
Creditors: amounts falling due within one year 5 (310,902) (294,276)
Net current liabilities (222,536) (236,875)
Net assets 150,227 136,080
Capital and reserves
Called up share capital 100 100
Profit and loss account 150,127 135,980
Shareholders' funds 150,227 136,080
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.
Adrian Paul Simmons
Director
Approved by the board on 7 January 2025
TAPS Management Ltd
Notes to the Accounts
for the year ended 30 April 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 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and equipment 20% straight line
Investment Property
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 May 2023 371,313 3,770 375,083
Additions - 291 291
At 30 April 2024 371,313 4,061 375,374
Depreciation
At 1 May 2023 - 2,128 2,128
Charge for the year - 483 483
At 30 April 2024 - 2,611 2,611
Net book value
At 30 April 2024 371,313 1,450 372,763
At 30 April 2023 371,313 1,642 372,955
4 Debtors 2024 2023
£ £
Trade debtors 17,370 -
CIS25 tax deducted - 240
Other debtors 3,270 8,982
20,640 9,222
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 2,007 -
Taxation and social security costs 24,316 21,634
Directors loan account 268,351 260,307
Other creditors 16,228 12,335
310,902 294,276
6 Other information
TAPS Management Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Bank Chambers
1-3 Woodford Avenue
Gants Hill, Ilford
Essex
IG2 6UF
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