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Company registration number: 13126403







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2025


TARO MODELMAKING LIMITED






































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TARO MODELMAKING LIMITED
 


 
COMPANY INFORMATION


Directors
J R Taro 
R M Taro 




Registered number
13126403



Registered office
14 Temple Drive
Nuthall

Nottingham

NG16 1BE




Accountants
Menzies LLP
Chartered Accountants

2nd Floor, Midas House

62 Goldsworth Road

Woking

Surrey

GU21 6LQ





 


TARO MODELMAKING LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 6


 


TARO MODELMAKING LIMITED
REGISTERED NUMBER:13126403



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025

2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 4 
22,394
31,982

  
22,394
31,982

Current assets
  

Stocks
  
12,928
11,812

Debtors: amounts falling due within one year
 5 
17,757
15,992

Cash at bank and in hand
  
121,059
85,101

  
151,744
112,905

Creditors: amounts falling due within one year
 6 
(29,338)
(18,163)

Net current assets
  
 
 
122,406
 
 
94,742

Total assets less current liabilities
  
144,800
126,724

  

Net assets
  
144,800
126,724


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
144,799
126,723

  
144,800
126,724


Page 1

 


TARO MODELMAKING LIMITED
REGISTERED NUMBER:13126403


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
J R Taro
Director

Date: 8 June 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 


TARO MODELMAKING LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

Taro Modelmaking Limited, a private company, is limited by shares incorporated in the United Kingdom under the Companies Act 2006 and is registered in England & Wales. The company's registered number and registered office are shown on the Company information page. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised when goods are delivered to customers, excluding discounts, rebates, value added tax and other sales taxes. 

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.


Page 3

 


TARO MODELMAKING LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
straight line
Office equipment
-
25%
straight line
Computer equipment
-
33%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.


3.


Employees

2025
£

Wages and salaries
12,570

Social security costs
1,130

Cost of defined contribution scheme
1,257

14,957


The average monthly number of employees, including directors, during the year was 2 (2024 - 2).

Page 4

 


TARO MODELMAKING LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

4.


Tangible fixed assets





Plant and machinery
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2024
31,277
12,122
3,705
47,104


Additions
-
2,167
74
2,241


Disposals
-
(67)
-
(67)



At 31 March 2025

31,277
14,222
3,779
49,278



Depreciation


At 1 April 2024
10,803
2,727
1,592
15,122


Charge for the year on owned assets
7,600
3,269
896
11,765


Disposals
-
(3)
-
(3)



At 31 March 2025

18,403
5,993
2,488
26,884



Net book value



At 31 March 2025
12,874
8,229
1,291
22,394



At 31 March 2024
20,474
9,395
2,113
31,982


5.


Debtors

2025
2024
£
£


Trade debtors
1,279
1,444

Other debtors
16,478
14,548

17,757
15,992


Page 5

 


TARO MODELMAKING LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

6.


Creditors: Amounts falling due within one year

2025
2024
£
£

Trade creditors
5,157
2,092

Corporation tax
19,247
10,775

Other taxation and social security
2,084
2,338

Other creditors
-
208

Accruals and deferred income
2,850
2,750

29,338
18,163


 
Page 6