2023-11-012024-10-312024-10-31false09835622TAGGAS 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TAGGAS LTD

Registered Number
09835622
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2024

TAGGAS LTD
Company Information
for the year from 1 November 2023 to 31 October 2024

Directors

DEVLIN, Tim George
MARSHALL, Emily

Registered Address

Unit 1, Ebor Court
Randall Park Way
Retford
DN22 7WF

Registered Number

09835622 (England and Wales)
TAGGAS LTD
Balance Sheet as at
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets4117,91694,952
117,91694,952
Current assets
Debtors5405,973318,928
Cash at bank and on hand398,973204,739
804,946523,667
Creditors amounts falling due within one year6(702,730)(425,980)
Net current assets (liabilities)102,21697,687
Total assets less current liabilities220,132192,639
Creditors amounts falling due after one year7(72,044)(77,733)
Net assets148,088114,906
Capital and reserves
Called up share capital21
Profit and loss account148,086114,905
Shareholders' funds148,088114,906
The financial statements were approved and authorised for issue by the Board of Directors on 5 March 2025, and are signed on its behalf by:
DEVLIN, Tim George
Director
MARSHALL, Emily
Director

Registered Company No. 09835622
TAGGAS LTD
Notes to the Financial Statements
for the year ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
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.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery15
Vehicles25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20242023
Average number of employees during the year2723
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 November 2310,00010,000
At 31 October 2410,00010,000
Amortisation and impairment
At 01 November 2310,00010,000
At 31 October 2410,00010,000
Net book value
At 31 October 24--
At 31 October 23--
4.Tangible fixed assets

Plant & machinery

Vehicles

Total

£££
Cost or valuation
At 01 November 2310,375158,009168,384
Additions9,62555,79565,420
Disposals-(20,484)(20,484)
At 31 October 2420,000193,320213,320
Depreciation and impairment
At 01 November 237,71065,72273,432
Charge for year2,16035,92838,088
On disposals-(16,116)(16,116)
At 31 October 249,87085,53495,404
Net book value
At 31 October 2410,130107,786117,916
At 31 October 232,66592,28794,952
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables209,396111,637
Other debtors196,577207,291
Total405,973318,928
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables517,067324,858
Bank borrowings and overdrafts10,000-
Amounts owed to related parties42,86539,067
Taxation and social security96,58543,959
Finance lease and HP contracts18,347-
Other creditors13,26818,096
Accrued liabilities and deferred income4,598-
Total702,730425,980
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts5,00015,835
Other creditors67,04461,898
Total72,04477,733
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts67,04461,898