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REGISTERED NUMBER: 02641191 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

TAGFIRST RETAIL SOLUTIONS LIMITED

TAGFIRST RETAIL SOLUTIONS LIMITED (REGISTERED NUMBER: 02641191)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TAGFIRST RETAIL SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTOR: M Powell





REGISTERED OFFICE: 94 London Road
Burgess Hill
West Sussex
RH15 8NB





REGISTERED NUMBER: 02641191 (England and Wales)





ACCOUNTANTS: Numis Limited
1st Floor Pentagon House
Wealden Ind Estate
Farningham Road
Crowborough
East Sussex
TN6 2JR

TAGFIRST RETAIL SOLUTIONS LIMITED (REGISTERED NUMBER: 02641191)

BALANCE SHEET
31 OCTOBER 2024

31.10.24 31.10.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 1,193 1,491

CURRENT ASSETS
Stocks 5 2,400 2,400
Debtors 6 24,977 18,880
Cash at bank and in hand 15,517 2,875
42,894 24,155
CREDITORS
Amounts falling due within one year 7 26,455 33,053
NET CURRENT ASSETS/(LIABILITIES) 16,439 (8,898 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,632

(7,407

)

CAPITAL AND RESERVES
Called up share capital 8 300 300
Retained earnings 9 17,332 (7,707 )
SHAREHOLDERS' FUNDS 17,632 (7,407 )

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

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

The director acknowledges his 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.

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 director and authorised for issue on 22 May 2025 and were signed by:





M Powell - Director


TAGFIRST RETAIL SOLUTIONS LIMITED (REGISTERED NUMBER: 02641191)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1. STATUTORY INFORMATION

Tagfirst Retail Solutions 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.

The financial statements have been prepared on a going concern basis.

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.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% on reducing balance

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

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

TAGFIRST RETAIL SOLUTIONS LIMITED (REGISTERED NUMBER: 02641191)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 November 2023
and 31 October 2024 2,684 7,099 23,107 32,890
DEPRECIATION
At 1 November 2023 1,768 6,941 22,690 31,399
Charge for year 183 32 83 298
At 31 October 2024 1,951 6,973 22,773 31,697
NET BOOK VALUE
At 31 October 2024 733 126 334 1,193
At 31 October 2023 916 158 417 1,491

5. STOCKS
31.10.24 31.10.23
£    £   
Goods for Re-sale 2,400 2,400

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 24,977 18,880

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade creditors 10,697 5,926
Taxation and social security 16 1,889
Other creditors 15,742 25,238
26,455 33,053

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.24 31.10.23
value: £    £   
300 Ordinary £1 300 300

TAGFIRST RETAIL SOLUTIONS LIMITED (REGISTERED NUMBER: 02641191)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

9. RESERVES
Retained
earnings
£   

At 1 November 2023 (7,707 )
Profit for the year 25,039
At 31 October 2024 17,332

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2024 and 31 October 2023:

31.10.24 31.10.23
£    £   
M Powell and T Powell
Balance outstanding at start of year (20,434 ) (32,128 )
Amounts repaid 8,792 11,694
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (11,642 ) (20,434 )

Directors past & present have loaned funds to the company to cover shortfalls in working capital. All Directors loans are interest free and are repayable on demand.

11. ULTIMATE CONTROLLING PARTY

The controlling party is M Powell.