8 7 Tag Search and Select Ltd 08269598 false 2023-11-01 2024-10-31 2024-10-31 The principal activity of the company is that of an employment agency. Digita Accounts Production Advanced 6.30.9574.0 true true 08269598 2023-11-01 2024-10-31 08269598 2024-10-31 08269598 bus:OrdinaryShareClass1 2024-10-31 08269598 bus:OrdinaryShareClass2 2024-10-31 08269598 core:RetainedEarningsAccumulatedLosses 2024-10-31 08269598 core:ShareCapital 2024-10-31 08269598 core:CurrentFinancialInstruments 2024-10-31 08269598 core:CurrentFinancialInstruments core:WithinOneYear 2024-10-31 08269598 core:Non-currentFinancialInstruments 2024-10-31 08269598 core:Non-currentFinancialInstruments core:AfterOneYear 2024-10-31 08269598 core:FurnitureFittingsToolsEquipment 2024-10-31 08269598 bus:SmallEntities 2023-11-01 2024-10-31 08269598 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 08269598 bus:FilletedAccounts 2023-11-01 2024-10-31 08269598 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 08269598 bus:RegisteredOffice 2023-11-01 2024-10-31 08269598 bus:CompanySecretaryDirector1 2023-11-01 2024-10-31 08269598 bus:Director2 2023-11-01 2024-10-31 08269598 bus:OrdinaryShareClass1 2023-11-01 2024-10-31 08269598 bus:OrdinaryShareClass2 2023-11-01 2024-10-31 08269598 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 08269598 bus:Agent1 2023-11-01 2024-10-31 08269598 core:FurnitureFittingsToolsEquipment 2023-11-01 2024-10-31 08269598 core:OfficeEquipment 2023-11-01 2024-10-31 08269598 countries:EnglandWales 2023-11-01 2024-10-31 08269598 2023-10-31 08269598 core:FurnitureFittingsToolsEquipment 2023-10-31 08269598 2022-11-01 2023-10-31 08269598 2023-10-31 08269598 bus:OrdinaryShareClass1 2023-10-31 08269598 bus:OrdinaryShareClass2 2023-10-31 08269598 core:RetainedEarningsAccumulatedLosses 2023-10-31 08269598 core:ShareCapital 2023-10-31 08269598 core:CurrentFinancialInstruments 2023-10-31 08269598 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 08269598 core:Non-currentFinancialInstruments 2023-10-31 08269598 core:Non-currentFinancialInstruments core:AfterOneYear 2023-10-31 08269598 core:FurnitureFittingsToolsEquipment 2023-10-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 08269598

Tag Search and Select Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Tag Search and Select Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Tag Search and Select Ltd

Company Information

Directors

Mr Nicky Taglione

Mrs Tuyet Cu Taglione

Company secretary

Mr Nicky Taglione

Registered office

C/O Smith Butler,
Sapper Jordan Rossi Park
Otley Road
Baildon
West Yorkshire
BD17 7AX

Accountants

Smith Butler
Accountants & Business AdvisorsSapper Jordan Rossi Park
Otley Road
Baildon
West Yorkshire
BD17 7AX

 

Tag Search and Select Ltd

(Registration number: 08269598)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

9,708

13,109

Current assets

 

Debtors

6

131,953

74,839

Cash at bank and in hand

 

57,885

47,277

 

189,838

122,116

Creditors: Amounts falling due within one year

7

(189,167)

(114,772)

Net current assets

 

671

7,344

Total assets less current liabilities

 

10,379

20,453

Creditors: Amounts falling due after more than one year

7

(7,500)

(17,500)

Provisions for liabilities

(2,427)

(2,752)

Net assets

 

452

201

Capital and reserves

 

Called up share capital

8

200

200

Retained earnings

252

1

Shareholders' funds

 

452

201

For the financial year ending 31 October 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 and 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 22 February 2025 and signed on its behalf by:
 

.........................................
Mr Nicky Taglione
Company secretary and director

.........................................
Mrs Tuyet Cu Taglione
Director

 
     
 

Tag Search and Select Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 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:
C/O Smith Butler,
Sapper Jordan Rossi Park
Otley Road
Baildon
West Yorkshire
BD17 7AX
United Kingdom

The principal place of business is:
23 Moorbank Drive
Shelf
Halifax
HX3 7DT

These financial statements were authorised for issue by the Board on 22 February 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.

 

Tag Search and Select Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

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

Office equipment

20% straight line

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.

 

Tag Search and Select Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

Tag Search and Select Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2023 - 7).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

5,899

5,884

 

Tag Search and Select Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 November 2023

60,485

60,485

Additions

2,499

2,499

At 31 October 2024

62,984

62,984

Depreciation

At 1 November 2023

47,376

47,376

Charge for the year

5,900

5,900

At 31 October 2024

53,276

53,276

Carrying amount

At 31 October 2024

9,708

9,708

At 31 October 2023

13,109

13,109

6

Debtors

Current

2024
£

2023
£

Trade debtors

-

44,868

Other debtors

131,953

29,971

 

131,953

74,839

 

Tag Search and Select Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

16,886

10,000

Trade creditors

 

1,333

9,122

Taxation and social security

 

170,948

95,650

 

189,167

114,772

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

7,500

17,500

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

B Ordinary of £1 each

100

100

100

100

200

200

200

200

 

Tag Search and Select Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

7,500

17,500

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000

Bank overdrafts

6,886

-

16,886

10,000