Registered number
05832018
TARION LIMITED
Filleted Accounts
31 May 2024
TARION LIMITED
Registered number: 05832018
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 17,847 18,615
Current assets
Debtors 4 41 -
Cash at bank and in hand 33,354 15,374
33,395 15,374
Creditors: amounts falling due within one year 5 (21,293) (17,624)
Net current assets/(liabilities) 12,102 (2,250)
Net assets 29,949 16,365
Capital and reserves
Called up share capital 10 10
Profit and loss account 29,939 16,355
Shareholders' funds 29,949 16,365
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.
S. Johnson
Director
Approved by the board on 30 November 2024
TARION LIMITED
Notes to the Accounts
for the year ended 31 May 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:
Fixtures, fittings, tools and equipment 25% reducing balance
Motor vehicle 20% reducing balance
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Fixtures and fittings Motor vehicles Total
£ £ £
Cost
At 1 June 2023 12,355 16,500 28,855
At 31 May 2024 12,355 16,500 28,855
Depreciation
At 1 June 2023 6,454 3,786 10,240
Charge for the year 225 543 768
At 31 May 2024 6,679 4,329 11,008
Net book value
At 31 May 2024 5,676 12,171 17,847
At 31 May 2023 5,901 12,714 18,615
4 Debtors 2024 2023
£ £
Other debtors 41 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 4,618 9,362
Directors loan account 772 330
Corporation Tax 15,903 7,932
Taxation and social security costs - -
21,293 17,624
6 Other information
TARION LIMITED is a private company limited by shares and incorporated in England.
31 Gorsehill Road
Poole
Dorset
BH15 3QH
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