Caseware UK (AP4) 2024.0.164 2024.0.164 2023-01-011truefalseConstruction of commercial buildings1trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 06699146 2023-01-01 2023-12-31 06699146 2022-01-01 2022-12-31 06699146 2023-12-31 06699146 2022-12-31 06699146 c:Director1 2023-01-01 2023-12-31 06699146 d:CurrentFinancialInstruments 2023-12-31 06699146 d:CurrentFinancialInstruments 2022-12-31 06699146 d:Non-currentFinancialInstruments 2023-12-31 06699146 d:Non-currentFinancialInstruments 2022-12-31 06699146 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 06699146 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 06699146 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 06699146 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 06699146 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 06699146 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 06699146 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 06699146 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 06699146 d:ShareCapital 2023-12-31 06699146 d:ShareCapital 2022-12-31 06699146 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 06699146 d:RetainedEarningsAccumulatedLosses 2023-12-31 06699146 d:RetainedEarningsAccumulatedLosses 2022-12-31 06699146 c:OrdinaryShareClass1 2023-01-01 2023-12-31 06699146 c:OrdinaryShareClass1 2023-12-31 06699146 c:OrdinaryShareClass1 2022-12-31 06699146 c:FRS102 2023-01-01 2023-12-31 06699146 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 06699146 c:FullAccounts 2023-01-01 2023-12-31 06699146 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06699146 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 06699146










Targa (UK) Limited








Unaudited

Financial statements

For the Year Ended 31 December 2023

 
Targa (UK) Limited
Registered number: 06699146

Balance sheet
As at 31 December 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 3 
91,796
81,342

Cash at bank and in hand
  
30,755
87,060

  
122,551
168,402

Creditors: amounts falling due within one year
 4 
(452,213)
(355,240)

Total assets less current liabilities
  
 
 
(329,662)
 
 
(186,838)

Creditors: amounts falling due after more than one year
 5 
(8,212)
(14,212)

  

Net liabilities
  
(337,874)
(201,050)


Capital and reserves
  

Called up share capital 
 7 
1
1

Profit and loss account
 8 
(337,875)
(201,051)

  
(337,874)
(201,050)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




R Hakl
Director
Date: 21 March 2025

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
Targa (UK) Limited
 

 
Notes to the financial statements
For the Year Ended 31 December 2023

1.


General information

Targa (UK) Limited (the Company) is a limited company incorporated and domiciled in the United Kingdom. The address of its registered office is 2nd Floor, 168 Shoreditch High Street, London, United Kingdom, E1 6RA.
The principle activity of the company continued to be that of a subcontractor in the building industry. 
The company's accounts are presented in Pounds Sterling rounded to the nearest whole pound.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

Notwithstanding that the company has net liabilities of £337,874 (2022: £201,050) at the balance sheet date the financial statements have been prepared on a going concern basis. The company  made a loss of £137,431 in the year (2022: profit £65,064). The company remains dependent on the support of its director, and included within creditors due within one year is an amount of £195,154 (2022:£139,254) due to the director. The director confirms his intention to continue to support the company for a period of no less than one year from the signing of these accounts.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 2

 
Targa (UK) Limited
 

 
Notes to the financial statements
For the Year Ended 31 December 2023

2.Accounting policies (continued)

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
Targa (UK) Limited
 

 
Notes to the financial statements
For the Year Ended 31 December 2023

3.


Debtors

2023
2022
£
£


Other debtors
91,796
81,342



4.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
6,788
6,788

Trade creditors
111,686
99,385

Other taxation and social security
118,395
94,968

Other creditors
211,904
150,854

Accruals and deferred income
3,440
3,245

452,213
355,240



5.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
8,212
14,212



6.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
6,788
6,788


6,788
6,788

Amounts falling due 1-2 years

Bank loans
6,788
6,788

Amounts falling due 2-5 years

Bank loans
1,424
7,424

15,000
21,000


Page 4

 
Targa (UK) Limited
 

 
Notes to the financial statements
For the Year Ended 31 December 2023

7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1



8.


Reserves

Profit & loss account

The profit and loss account comprises all current and prior period retained profits and losses.
Share capital
This represents the nominal value of shaes that have been issued by the company.


9.


Pension commitments

The Company operated a defined contributions pension scheme during the period. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £422  (2022 - £Nil). Contributions totalling £Nil (2022 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.


10.


Related party transactions

During the period the company operated a loan account with its director, R Hakl. The company made payments of £76,500 (2022: £Nil) on behalf of the director, R Hakl. During the period the company made repayments to R Hakl totalling £20,600. (2022: £Nil). At the period end the amount due to R Hakl was £195,154 (2022: £139,254), which is included within 'Other Creditors' in note 4 to these accounts. 
During the year the company paid for expenses for Cavendish Targa Properties Limited a company owned by R Hakl a director of the company totalling £10,454 (2022: £73,009). As at the year end £83,463 (2022: £73,009) was owed to the company.


11.


Controlling party

The company is under the control of its director, R Hakl, who owns 100% of the issued share capital. 


Page 5