ACCOUNTS - Final Accounts preparation

Creditors: Amounts falling due within one year

Company registration number: 11821820

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 29 FEBRUARY 2024

	TARGET GLOBAL LTD


TARGET GLOBAL LTD

COMPANY INFORMATION

Director	R M Sinclair


Registered number	11821820


Registered office	Richmond House
	Walkern Road
	Stevenage
	SG1 3QP


Accountants	Menzies LLP
	Chartered Accountants
	Richmond House
	Walkern Road
	Stevenage
	SG1 3QP


TARGET GLOBAL LTD

CONTENTS

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


TARGET GLOBAL LTD REGISTERED NUMBER:11821820

STATEMENT OF FINANCIAL POSITION

AS AT 29 FEBRUARY 2024

	29 February	28 February
	2024	2023
Note	£	£

Fixed assets
Tangible assets	4		7,997		5,561
			7,997		5,561
Current assets
Stocks		19,015		-
Debtors: amounts falling due within one year	5	62,625		75,957
Cash at bank and in hand		3,210		24,811
		84,850		100,768
Creditors: amounts falling due within one year	6	(57,734)		(70,480)
Net current assets			27,116		30,288
Total assets less current liabilities			35,113		35,849
Creditors: amounts falling due after more than one year	7		(37,809)		(43,549)

Net liabilities			(2,696)		(7,700)

Capital and reserves
Called up share capital	100	100
Profit and loss account	(2,796)	(7,800)
	(2,696)	(7,700)

Page 1


TARGET GLOBAL LTD REGISTERED NUMBER:11821820

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 29 FEBRUARY 2024

The director considers 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 director acknowledges his 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:

................................................

R M Sinclair

Director

Date: 22 September 2025

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

Page 2


TARGET GLOBAL LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

1.	General information

Target Global Ltd 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

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

The director has undertaken to continue their financial support of the company for the foreseeable future. On this basis the directors believe it is appropriate to prepare these accounts on a going concern basis.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3


TARGET GLOBAL LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

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.

2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.6

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:

				Fixtures and fittings	-	25%
				Computer equipment	-	25%

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.

2.7

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.

Page 4


TARGET GLOBAL LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

2.8

Financial instruments

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

4.	Tangible fixed assets

	Fixtures and fittings	Computer equipment	Total
	£	£	£
Cost or valuation
At 1 March 2023	1,667	5,748	7,415
Additions	3,204	1,239	4,443
At 29 February 2024	4,871	6,987	11,858
Depreciation
At 1 March 2023	417	1,437	1,854
Charge for the year on owned assets	483	1,524	2,007
At 29 February 2024	900	2,961	3,861
Net book value
At 29 February 2024	3,971	4,026	7,997
At 28 February 2023	1,250	4,311	5,561

Debtors

					29 February	28 February
					2024	2023
					£	£


Trade debtors	2,436	36,225
Amounts owed by connected companies	-	32,215
Other debtors	60,189	7,517
	62,625	75,957

Page 5


TARGET GLOBAL LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

Bank loans	5,000	5,000
Trade creditors	2,541	7,398
Corporation tax	11,695	-
Other taxation and social security	32,352	1,938
Other creditors	1,146	55,144
Accruals and deferred income	5,000	1,000
	57,734	70,480

Bank loans	37,809	43,549
	37,809	43,549

8.	Transactions with directors
	At the reporting date the directors owed £34,651 (2023: £31,860 owed from the company) to the company. The balance can be found within debtors and no interest is being charged on this.

9.	Parent relationships

The parent undertaking is Tanwood Properties Ltd. Their address is Richmond House, Walkern Road, Stevenage, SG1 3QP.

Page 6