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Tap Door Limited

Registration number : 13851656



















Annual Report and Unaudited Financial Statements

for the year ended 30 April 2024

 

Tap Door Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Tap Door Limited

Company Information

Directors

Mr Anthony George Cummins

Mr Oliver James Hunt

Registered office

Maghull Business Centre
1 Liverpool Road North
Maghull
Merseyside
L31 2HB

Accountants

McParland Williams Limited
13 Liverpool Road North
Maghull
Merseyside
L31 2HB

 

Tap Door Limited

(Registration number: 13851656)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

6

75,093

43,143

Tangible assets

7

3,107

447

 

78,200

43,590

Current assets

 

Stocks

8

4,593

2,032

Debtors

9

35,299

1,557

Cash at bank and in hand

 

3,214

7,095

 

43,106

10,684

Creditors: Amounts falling due within one year

10

(91,053)

(54,246)

Net current liabilities

 

(47,947)

(43,562)

Total assets less current liabilities

 

30,253

28

Provisions for liabilities

(590)

-

Net assets

 

29,663

28

Capital and reserves

 

Called up share capital

1,002

1,002

Other reserves

55,333

-

Profit and loss account

(26,672)

(974)

Total equity

 

29,663

28

For the financial year ending 30 April 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 January 2025 and signed on its behalf by:
 

 

Tap Door Limited

(Registration number: 13851656)
Balance Sheet as at 30 April 2024

.........................................
Mr Oliver James Hunt
Director

   
     
 

Tap Door Limited

Notes to the Unaudited Financial Statements for the year ended 30 April 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:
Maghull Business Centre
1 Liverpool Road North
Maghull
Merseyside
L31 2HB

These financial statements were authorised for issue by the Board on 31 January 2025.

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 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 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.

Going concern

The financial statements have been prepared on a going concern basis.

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 current and deferred 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.

 

Tap Door Limited

Notes to the Unaudited Financial Statements for the year ended 30 April 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet 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.

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:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Fixture and fittings

15% straight line

Computer equipment

33% reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Tap Door Limited

Notes to the Unaudited Financial Statements for the year ended 30 April 2024

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

984

79

Amortisation expense

3,952

-

5

Taxation

Tax charged/(credited) in the income statement

Year ended 30 April 2024
 £

17 January 2022 to 30 April 2023
 £

Current taxation

UK corporation tax adjustment to prior periods

(15,674)

-

Deferred taxation

Arising from origination and reversal of timing differences

(15,496)

-

Tax receipt in the income statement

(31,170)

-

 

Tap Door Limited

Notes to the Unaudited Financial Statements for the year ended 30 April 2024

6

Intangible assets

Internally generated software development costs
 £

Total
£

Cost or valuation

At 1 May 2023

43,143

43,143

Additions acquired separately

35,902

35,902

At 30 April 2024

79,045

79,045

Amortisation

Amortisation charge

3,952

3,952

At 30 April 2024

3,952

3,952

Carrying amount

At 30 April 2024

75,093

75,093

At 30 April 2023

43,143

43,143

The aggregate amount of research and development expenditure recognised as an expense during the period is £- (2023 - £-).
 

7

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

526

-

526

Additions

1,549

2,095

3,644

At 30 April 2024

2,075

2,095

4,170

Depreciation

At 1 May 2023

79

-

79

Charge for the year

460

524

984

At 30 April 2024

539

524

1,063

Carrying amount

At 30 April 2024

1,536

1,571

3,107

At 30 April 2023

447

-

447

 

Tap Door Limited

Notes to the Unaudited Financial Statements for the year ended 30 April 2024

8

Stocks and work-in-progress

2024
£

2023
£

Raw materials and consumables

4,593

2,032

9

Debtors

Note

2024
£

2023
£

Other debtors

 

3,278

1,093

Prepayments

 

261

464

Deferred tax assets

16,086

-

Income tax asset

15,674

-

 

35,299

1,557

10

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

3,292

-

Taxation and social security

2,211

-

Other creditors

85,550

54,246

91,053

54,246

11

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

1,002

1,002

1,002

1,002