1 November 2023 v2025.16.2 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activity00falsetruexbrli:purexbrli:sharesiso4217:GBP136592792023-11-012024-10-31136592792024-10-31136592792023-10-3113659279core:WithinOneYear2024-10-3113659279core:WithinOneYear2023-10-3113659279core:ShareCapital2024-10-3113659279core:ShareCapital2023-10-3113659279core:RetainedEarningsAccumulatedLosses2024-10-3113659279core:RetainedEarningsAccumulatedLosses2023-10-3113659279bus:Director12023-11-012024-10-3113659279bus:Director22023-11-012024-10-3113659279bus:RegisteredOffice2023-11-012024-10-3113659279core:OtherResidualIntangibleAssets2023-11-012024-10-3113659279core:OfficeEquipment2023-11-012024-10-3113659279core:FurnitureFittings2023-11-012024-10-3113659279core:IntangibleAssetsOtherThanGoodwill2023-11-0113659279core:IntangibleAssetsOtherThanGoodwill2023-11-012024-10-3113659279core:IntangibleAssetsOtherThanGoodwill2024-10-3113659279core:IntangibleAssetsOtherThanGoodwill2023-10-3113659279core:PlantMachinery2023-11-0113659279core:PlantMachinery2023-11-012024-10-3113659279core:PlantMachinery2024-10-3113659279core:PlantMachinery2023-10-311365927912023-11-012024-10-31136592792022-11-012023-10-3113659279countries:EnglandWales2023-11-012024-10-3113659279bus:AuditExempt-NoAccountantsReport2023-11-012024-10-3113659279bus:PrivateLimitedCompanyLtd2023-11-012024-10-3113659279bus:SmallEntities2023-11-012024-10-3113659279bus:FullAccounts2023-11-012024-10-31
Company registration number:
13659279
Taeps Limited
Unaudited Filleted Financial Statements for the year ended
31 October 2024
Taeps Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Taeps Limited
Year ended
31 October 2024
As described on the statement of financial position, the Board of Directors of
Taeps Limited
are responsible for the preparation of the
financial statements
for the year ended
31 October 2024
, which comprise the income statement, statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Taeps Limited
Statement of Financial Position
31 October 2024
20242023
Note££
Fixed assets    
Intangible assets 5
43,312
 
30,793
 
Tangible assets 6
7,696
 
7,767
 
51,008
 
38,560
 
Current assets    
Debtors 7
162
 
2,017
 
Cash at bank and in hand
12,844
 
111
 
13,006
 
2,128
 
Creditors: amounts falling due within one year 8
(187,362
)
(116,000
)
Net current liabilities
(174,356
)
(113,872
)
Total assets less current liabilities (123,348 ) (75,312 )
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
(123,448
)
(75,412
)
Shareholders deficit
(123,348
)
(75,312
)
For the 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 financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
20 March 2025
, and are signed on behalf of the board by:
Mr A Bello
Mr A Okuboyejo
DirectorDirector
Company registration number:
13659279
Taeps Limited
Notes to the Financial Statements
Year ended
31 October 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
39 Aylsham Drive
,
Ickenham
,
Uxbridge
,
Uxbridge
,
UB10 8TL
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis. The
financial statements
are prepared in sterling.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods and services supplied, net of discounts and Value Added Tax.

Intangible assets

Intangible assets, which include film production costs, are initially measured at cost. Subsequently, intangible assets are carried at cost less any accumulated amortisation and accumulated impairment losses.
Film production costs are recognised as an intangible asset when all of the following criteria are demonstrated:
- The cost is directly attributable to the production of the film;
- There is a clear intention and ability to complete the film for distribution;
- How the film will generate probable future economic benefits.
- The cost can be reliably measured.
Costs incurred in the early stages of a film production, such as script development and preliminary research, are expensed as incurred unless they meet the above capitalisation criteria.
Amortisation is charged so as to allocate the cost of intangibles less their residual values over their estimated useful lives, using the straight-line method. The intangible assets are amortised over the following useful economic lives:
- Film production costs 4 years
At each reporting date intangible assets are reviewed to determine if there is any indication of impairment. If such an indication exists, an impairment test is carried out. The asset's recoverable amount is estimated, and any excess of the carrying amount over the recoverable amount is recognised as an impairment loss in the profit or loss.
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Other intangible assets
25% straight line

Tangible assets

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Office equipment
25% straight line
Fixtures and fittings
25% straight line

4 Average number of employees

The average number of persons employed by the company during the year was Nil (2023: Nil).

5 Intangible assets

Other intangible assets
£
Cost  
At
1 November 2023
35,192
 
Additions
16,918
 
At
31 October 2024
52,110
 
Amortisation  
At
1 November 2023
4,399
 
Charge
4,399
 
At
31 October 2024
8,798
 
Carrying amount  
At
31 October 2024
43,312
 
At 31 October 2023
30,793
 

6 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 November 2023
12,367
 
Additions
4,028
 
At
31 October 2024
16,395
 
Depreciation  
At
1 November 2023
4,600
 
Charge
4,099
 
At
31 October 2024
8,699
 
Carrying amount  
At
31 October 2024
7,696
 
At 31 October 2023
7,767
 

7 Debtors

20242023
££
Other debtors
162
 
2,017
 

8 Creditors: amounts falling due within one year

20242023
££
Other creditors
187,362
 
116,000
 
At 31 October 2024, other creditors included £146,289 (2023: £66,232) received from investors who have been issued share certificates in advance. However, as at the reporting date, the share allotment process—requiring an update to the register of members in accordance with the Companies Act 2006—had not yet been finalised, pending completion of the company’s funding round. In accordance with FRS 102, these funds have been classified as liabilities until the share allotment process has been completed, at which point they will be transferred to equity.