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REGISTERED NUMBER: 02751845 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Taran Microsystems Limited

Taran Microsystems Limited (Registered number: 02751845)

Contents of the Financial Statements
for the Year Ended 31 December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Taran Microsystems Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: A J Miles
S A Miles





SECRETARY: A J Miles





REGISTERED OFFICE: Tempus Business Centre
61 Kingsclere Road
Basingstoke
Hampshire
RG21 6XG





REGISTERED NUMBER: 02751845 (England and Wales)





ACCOUNTANTS: Lane Monnington Welton
Chartered Accountants
Riverside View
Basing Road
Old Basing
Basingstoke
Hampshire
RG24 7AL

Taran Microsystems Limited (Registered number: 02751845)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 147,944 167,740

CURRENT ASSETS
Stocks 908,825 1,075,393
Debtors 5 1,591,071 921,815
Cash at bank and in hand 828,410 1,041,799
3,328,306 3,039,007
CREDITORS
Amounts falling due within one year 6 934,482 666,525
NET CURRENT ASSETS 2,393,824 2,372,482
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,541,768

2,540,222

CREDITORS
Amounts falling due after more than one
year

7

(2,075,084

)

(2,079,006

)

PROVISIONS FOR LIABILITIES 10 (16,823 ) (20,879 )
NET ASSETS 449,861 440,337

CAPITAL AND RESERVES
Called up share capital 11 350 350
Capital redemption reserve 650 650
Retained earnings 448,861 439,337
SHAREHOLDERS' FUNDS 449,861 440,337

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Taran Microsystems Limited (Registered number: 02751845)

Balance Sheet - continued
31 December 2024


The 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2025 and were signed on its behalf by:





S A Miles - Director


Taran Microsystems Limited (Registered number: 02751845)

Notes to the Financial Statements
for the Year Ended 31 December 2024


1. STATUTORY INFORMATION

Taran Microsystems Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Debtors and creditors payable/receivable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price, including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Taran Microsystems Limited (Registered number: 02751845)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, adjusted for indexation where applicable.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment
Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare them to their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 31 ) .

Taran Microsystems Limited (Registered number: 02751845)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2024 9,128 168,025 75,614 252,767
Additions - 18,995 16,343 35,338
At 31 December 2024 9,128 187,020 91,957 288,105
DEPRECIATION
At 1 January 2024 5,606 54,216 25,205 85,027
Charge for year 2,280 22,201 30,653 55,134
At 31 December 2024 7,886 76,417 55,858 140,161
NET BOOK VALUE
At 31 December 2024 1,242 110,603 36,099 147,944
At 31 December 2023 3,522 113,809 50,409 167,740

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 1,398,705 775,406
Other debtors 192,366 146,409
1,591,071 921,815

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 340,082 301,345
Taxation and social security 151,965 225,608
Other creditors 442,435 139,572
934,482 666,525

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Amounts owed to group undertakings 2,075,084 2,079,006

Taran Microsystems Limited (Registered number: 02751845)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.24 31.12.23
£    £   
Within one year 77,053 96,118
Between one and five years 37,395 64,451
114,448 160,569

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Taran Microsystems Holdings 2,075,085 2,079,006

A fixed and floating charge was secured on the assets of the company on 25 February 2014.

10. PROVISIONS FOR LIABILITIES
31.12.24 31.12.23
£    £   
Deferred tax 16,823 20,879

Deferred
tax
£   
Balance at 1 January 2024 20,879
Accelerated capital allowances (4,056 )
Balance at 31 December 2024 16,823

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
350 Ordinary £1 350 350