2023-11-012024-10-312024-10-31false12218437TAUK PROPERTY 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TAUK PROPERTY LTD.

Registered Number
12218437
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2024

TAUK PROPERTY LTD.
Company Information
for the year from 1 November 2023 to 31 October 2024

Directors

BRUCE, Kenneth
BRUCE, Mark Robert
CAMFIELD, Lee Mark
HILL, Harry Douglas
MATTHEWS, Kurt
VASS, Andrew David
WALKER, Stephanie Esther

Registered Address

71 - 75 Shelton Street
London
WC2H 9JQ

Registered Number

12218437 (England and Wales)
TAUK PROPERTY LTD.
Balance Sheet as at
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets310,2613,540
Tangible assets46,8974,379
17,1587,919
Current assets
Debtors5399,294176,751
Cash at bank and on hand353,074296,375
752,368473,126
Creditors amounts falling due within one year6(752,401)(514,805)
Net current assets (liabilities)(33)(41,679)
Total assets less current liabilities17,125(33,760)
Net assets17,125(33,760)
Capital and reserves
Called up share capital226181
Share premium860,309409,940
Profit and loss account(843,410)(443,881)
Shareholders' funds17,125(33,760)
The financial statements were approved and authorised for issue by the Board of Directors on 25 July 2025, and are signed on its behalf by:
BRUCE, Kenneth
Director
MATTHEWS, Kurt
Director

Registered Company No. 12218437
TAUK PROPERTY LTD.
Notes to the Financial Statements
for the year ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
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.
Revenue from rendering of services
Revenue 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.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Borrowing costs
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Other intangible assets are website design costs. It is amortised to profit and loss account over its estimated economic life of 5 years.
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:

Straight line (years)
Fixtures and fittings5
Office Equipment5
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20242023
Average number of employees during the year119
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 November 237,1017,101
Additions8,5148,514
At 31 October 2415,61515,615
Amortisation and impairment
At 01 November 233,5613,561
Charge for year1,7931,793
At 31 October 245,3545,354
Net book value
At 31 October 2410,26110,261
At 31 October 233,5403,540
4.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 November 236,4946,494
Additions4,0924,092
At 31 October 2410,58610,586
Depreciation and impairment
At 01 November 232,1152,115
Charge for year1,5741,574
At 31 October 243,6893,689
Net book value
At 31 October 246,8976,897
At 31 October 234,3794,379
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables129,263138,108
Other debtors95,11920,972
Prepayments and accrued income174,91217,671
Total399,294176,751
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables154,038102,673
Bank borrowings and overdrafts153,911129,533
Taxation and social security118,51680,322
Other creditors42,83045,142
Accrued liabilities and deferred income283,106157,135
Total752,401514,805
7.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
WALKER, Stephanie Esther05,0544,540514
05,0544,540514
The above loans are unsecured, interest free and repayable on demand.
8.Events after reporting date
Share Capital Premium Issuance Subsequent to the balance sheet date, the company issued new shares at a premium, resulting in a significant increase in the share premium reserve. These transactions were completed on 4 December 2024, 11 February 2025, 31 March 2025, and 12 June 2025. These are considered non-adjusting post balance sheet events as they reflect conditions that arose after the reporting period. While they do not affect the financial position as at the balance sheet date, they are disclosed due to their material nature and potential relevance to users of the financial statements.