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Registered number: 09685847
Newtide Digital Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
TAG My Finance Team Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 09685847
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 19,468 21,414
Investment Properties 5 4,120 2,999
Investments 6 6,000 -
29,588 24,413
CURRENT ASSETS
Debtors 7 43,035 42,815
Cash at bank and in hand 26,071 32,602
69,106 75,417
Creditors: Amounts Falling Due Within One Year 8 (64,466 ) (62,731 )
NET CURRENT ASSETS (LIABILITIES) 4,640 12,686
TOTAL ASSETS LESS CURRENT LIABILITIES 34,228 37,099
Creditors: Amounts Falling Due After More Than One Year 9 (4,167 ) (20,167 )
NET ASSETS 30,061 16,932
CAPITAL AND RESERVES
Called up share capital 11 110 110
Profit and Loss Account 29,951 16,822
SHAREHOLDERS' FUNDS 30,061 16,932
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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 Krystian Szastok
Director
22nd April 2025
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Newtide Digital Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09685847 . The registered office is 86-90 Paul Street, London, England, EC2A 4NE.
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:
Plant & Machinery 20% SLM
Motor Vehicles 25% SLM
Computer Equipment 20% SLM
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
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2.5. 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.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. 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: 1 (2023: 1)
1 1
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4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost or Valuation
As at 1 August 2023 3,813 20,208 374 24,395
As at 31 July 2024 3,813 20,208 374 24,395
Depreciation
As at 1 August 2023 2,856 100 25 2,981
Provided during the period 569 1,302 75 1,946
As at 31 July 2024 3,425 1,402 100 4,927
Net Book Value
As at 31 July 2024 388 18,806 274 19,468
As at 1 August 2023 957 20,108 349 21,414
5. Investment Property
2024
£
Fair Value
As at 1 August 2023 2,999
Additions 486
Revaluations 635
As at 31 July 2024 4,120
6. Investments
Unlisted
£
Cost
As at 1 August 2023 -
Additions 6,000
As at 31 July 2024 6,000
Provision
As at 1 August 2023 -
As at 31 July 2024 -
Net Book Value
As at 31 July 2024 6,000
As at 1 August 2023 -
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 12,864 15,906
Other debtors 10,439 11,566
23,303 27,472
Due after more than one year
Other debtors 19,732 15,343
43,035 42,815
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 11,000 11,000
Trade creditors 245 35
Bank loans and overdrafts 5,000 5,000
Taxation and social security 48,221 46,696
64,466 62,731
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 11,000
Bank loans 4,167 9,167
4,167 20,167
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 11,000 11,000
Later than one year and not later than five years - 11,000
11,000 22,000
11,000 22,000
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11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 110 110
12. 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 Krystian Szastok 15,343 58,347 (53,958 ) - 19,732
The above loan is unsecured, standard interest chargeable and repayable on demand.
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