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Registered number: 07359914
Taut News Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
Arran James Consulting Limited
4 East Hill
Wembley
Middlesex
HA9 9PT
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07359914
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 92,500 92,500
Tangible Assets 5 2,607 3,259
95,107 95,759
CURRENT ASSETS
Stocks 6 15,250 17,750
Debtors 7 966 1,341
Cash at bank and in hand (39,458 ) 767
(23,242 ) 19,858
Creditors: Amounts Falling Due Within One Year 8 (18,914 ) (25,619 )
NET CURRENT ASSETS (LIABILITIES) (42,156 ) (5,761 )
TOTAL ASSETS LESS CURRENT LIABILITIES 52,951 89,998
Creditors: Amounts Falling Due After More Than One Year 9 (66,012 ) (94,598 )
NET LIABILITIES (13,061 ) (4,600 )
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account (13,063 ) (4,602 )
SHAREHOLDERS' FUNDS (13,061) (4,600)
Page 1
Page 2
For the year ending 31 August 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 Sivapathasundaram Thabendran
Director
14 January 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Taut News Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07359914 . The registered office is 38 Plough Lane, Wallington, Surrey, SM6 8LN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life. The balance left in the account is not amortised as it was purchased goodwill.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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% Reducing balance
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Intangible Assets
Goodwill
£
Cost
As at 1 September 2023 130,000
As at 31 August 2024 130,000
Amortisation
As at 1 September 2023 37,500
As at 31 August 2024 37,500
Net Book Value
As at 31 August 2024 92,500
As at 1 September 2023 92,500
Page 3
Page 4
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 September 2023 37,171
As at 31 August 2024 37,171
Depreciation
As at 1 September 2023 33,912
Provided during the period 652
As at 31 August 2024 34,564
Net Book Value
As at 31 August 2024 2,607
As at 1 September 2023 3,259
6. Stocks
2024 2023
£ £
Finished goods 15,250 17,750
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 962 1,341
VAT 4 -
966 1,341
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,861 1,623
Bank loans and overdrafts 3,166 10,050
Corporation tax (54 ) 339
Other taxes and social security 476 5
VAT - 407
Director's loan account 13,465 13,195
18,914 25,619
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 28,586
Other creditors 66,012 66,012
66,012 94,598
Page 4
Page 5
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 5