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REGISTERED NUMBER: 05117661 (England and Wales)














Financial Statements for the Year Ended 31 May 2024

for

T-Bag Designs UK Limited

T-Bag Designs UK Limited (Registered number: 05117661)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


T-Bag Designs UK Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Mr C M Gray
Ms T L Gray





REGISTERED OFFICE: The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY





REGISTERED NUMBER: 05117661 (England and Wales)





ACCOUNTANTS: Nordens
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY

T-Bag Designs UK Limited (Registered number: 05117661)

Statement of Financial Position
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 107 143
Investments 5 100,000 100,000
100,107 100,143

CURRENT ASSETS
Debtors 6 - 576

CREDITORS
Amounts falling due within one year 7 33,615 32,197
NET CURRENT LIABILITIES (33,615 ) (31,621 )
TOTAL ASSETS LESS CURRENT LIABILITIES 66,492 68,522

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 66,490 68,520
SHAREHOLDERS' FUNDS 66,492 68,522

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

T-Bag Designs UK Limited (Registered number: 05117661)

Statement of Financial Position - continued
31 May 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 December 2024 and were signed on its behalf by:




Mr C M Gray - Director



Ms T L Gray - Director


T-Bag Designs UK Limited (Registered number: 05117661)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

T-Bag Designs UK 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 as modified by the revaluation of certain assets.

Changes in accounting estimates
The company changed its depreciation policy estimate for fixtures and fittings during the year from 25% per annum reducing balance basis to 15% per annum reducing balance basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

Fixed asset investments
Other Investments are valued at the lower of cost and market value.

Hire purchase and lease commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

T-Bag Designs UK Limited (Registered number: 05117661)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Going concern
The financial statements have been prepared on the going concern basis. The director is of the opinion that the shareholders will continue to support it, and provide adequate funding when necessary to enable it to meet its obligations for the foreseeable future, being for a period of at least twelve months from the date of approval of the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023
and 31 May 2024 3,740 11,581 6,599 21,920
DEPRECIATION
At 1 June 2023 3,740 11,581 6,456 21,777
Charge for year - - 36 36
At 31 May 2024 3,740 11,581 6,492 21,813
NET BOOK VALUE
At 31 May 2024 - - 107 107
At 31 May 2023 - - 143 143

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 June 2023
and 31 May 2024 100,000
NET BOOK VALUE
At 31 May 2024 100,000
At 31 May 2023 100,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors - 576

T-Bag Designs UK Limited (Registered number: 05117661)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 1,460 5,935
Taxation and social security 300 300
Other creditors 31,855 25,962
33,615 32,197

8. RELATED PARTY DISCLOSURES

The Directors Mr C M Gray and Ms T L G Gray are considered to be the key management personnel.