Acorah Software Products - Accounts Production 16.2.850 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 05869436 Mr Gregg Fletcher iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05869436 2023-07-31 05869436 2024-07-31 05869436 2023-08-01 2024-07-31 05869436 frs-core:CurrentFinancialInstruments 2024-07-31 05869436 frs-core:Non-currentFinancialInstruments 2024-07-31 05869436 frs-core:BetweenOneFiveYears 2024-07-31 05869436 frs-core:ComputerEquipment 2024-07-31 05869436 frs-core:ComputerEquipment 2023-08-01 2024-07-31 05869436 frs-core:ComputerEquipment 2023-07-31 05869436 frs-core:FurnitureFittings 2024-07-31 05869436 frs-core:FurnitureFittings 2023-08-01 2024-07-31 05869436 frs-core:FurnitureFittings 2023-07-31 05869436 frs-core:MotorVehicles 2024-07-31 05869436 frs-core:MotorVehicles 2023-08-01 2024-07-31 05869436 frs-core:MotorVehicles 2023-07-31 05869436 frs-core:WithinOneYear 2024-07-31 05869436 frs-core:ShareCapital 2024-07-31 05869436 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 05869436 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 05869436 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 05869436 frs-bus:SmallEntities 2023-08-01 2024-07-31 05869436 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 05869436 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 05869436 frs-bus:Director1 2023-08-01 2024-07-31 05869436 frs-bus:Director1 2023-07-31 05869436 frs-bus:Director1 2024-07-31 05869436 frs-countries:EnglandWales 2023-08-01 2024-07-31 05869436 2022-07-31 05869436 2023-07-31 05869436 2022-08-01 2023-07-31 05869436 frs-core:CurrentFinancialInstruments 2023-07-31 05869436 frs-core:Non-currentFinancialInstruments 2023-07-31 05869436 frs-core:BetweenOneFiveYears 2023-07-31 05869436 frs-core:MotorVehicles 2022-08-01 2023-07-31 05869436 frs-core:WithinOneYear 2023-07-31 05869436 frs-core:ShareCapital 2023-07-31 05869436 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: 05869436
T & G Trading Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Tax Plus Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05869436
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 34,169 18,772
34,169 18,772
CURRENT ASSETS
Stocks 5 33,250 15,250
Debtors 6 35,013 42,070
Cash at bank and in hand 27,318 71,549
95,581 128,869
Creditors: Amounts Falling Due Within One Year 7 (112,861 ) (115,317 )
NET CURRENT ASSETS (LIABILITIES) (17,280 ) 13,552
TOTAL ASSETS LESS CURRENT LIABILITIES 16,889 32,324
Creditors: Amounts Falling Due After More Than One Year 8 (19,855 ) (37,426 )
NET LIABILITIES (2,966 ) (5,102 )
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account (2,967 ) (5,103 )
SHAREHOLDERS' FUNDS (2,966) (5,102)
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For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Gregg Fletcher
Director
31/07/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
T & G Trading Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05869436 . The registered office is Units 4 and 5 Bolholt Industrial Park, Walshaw Road, Bury, Greater Manchester, BL8 1PL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 16 (2023: 15)
16 15
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 August 2023 33,750 1,915 3,399 39,064
Additions 23,500 - - 23,500
As at 31 July 2024 57,250 1,915 3,399 62,564
Depreciation
As at 1 August 2023 16,743 1,540 2,009 20,292
Provided during the period 7,679 76 348 8,103
As at 31 July 2024 24,422 1,616 2,357 28,395
Net Book Value
As at 31 July 2024 32,828 299 1,042 34,169
As at 1 August 2023 17,007 375 1,390 18,772
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 12,755 17,007
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5. Stocks
2024 2023
£ £
Finished goods 33,250 15,250
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 3,750 3,750
Other debtors 3,257 11,667
Director's loan account 13,331 11,978
Amounts owed by other participating interests 14,675 14,675
35,013 42,070
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 7,334 7,334
Trade creditors 59,372 60,087
Bank loans and overdrafts 9,132 7,340
Corporation tax 9,134 6,029
Other taxes and social security 7,241 18,411
VAT 6,833 8,035
Other creditors 13,815 8,081
112,861 115,317
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 448 7,792
Bank loans 19,407 29,634
19,855 37,426
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 7,334 7,334
Later than one year and not later than five years 448 7,792
7,782 15,126
7,782 15,126
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10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 August 2023 Amounts advanced Amounts repaid Amounts written off As at 31 July 2024
£ £ £ £ £
Mr Gregg Fletcher 11,978 92,716 91,364 - 13,331
The above loan is unsecured, with interest charged at the rate of 2.25%.
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