Company registration number 03447469 (England and Wales)
Tagg Furniture Limited
Unaudited Financial Statements
For the year ended 31 August 2025
PAGES FOR FILING WITH REGISTRAR
Tagg Furniture Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
Tagg Furniture Limited
Balance Sheet
As at 31 August 2025
31 August 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
79,706
144,061
Current assets
Stocks
54,068
42,226
Debtors
4
604,368
666,998
Cash at bank and in hand
84,069
9
742,505
709,233
Creditors: amounts falling due within one year
5
(574,306)
(293,845)
Net current assets
168,199
415,388
Total assets less current liabilities
247,905
559,449
Creditors: amounts falling due after more than one year
6
(7,463)
(25,346)
Provisions for liabilities
-
0
(19,062)
Net assets
240,442
515,041
Capital and reserves
Called up share capital
20,000
20,000
Profit and loss reserves
220,442
495,041
Total equity
240,442
515,041
Tagg Furniture Limited
Balance Sheet (Continued)
As at 31 August 2025
31 August 2025
- 2 -

For the financial year ended 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 17 March 2026 and are signed on its behalf by:
Mr R Tagg
Mrs H G Tagg
Director
Director
Company registration number 03447469 (England and Wales)
Tagg Furniture Limited
Notes to the Financial Statements
For the year ended 31 August 2025
- 3 -
1
Accounting policies
Company information

Tagg Furniture Limited is a private company limited by shares incorporated in England and Wales. The registered office is Pendragon House, 65 London Road, St Albans, Hertfordshire, AL1 1LJ.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced and is recognised by reference to the stage of completion.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
15% straight line
Computers
15% straight line
Motor vehicles
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Tagg Furniture Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2025
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 and Section 12 of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present fair value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, which include trade and other payables and bank loans, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present fair value of the future receipts discounted at a market rate of interest.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised 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 calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account.

1.9
Retirement benefits

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

1.10
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Tagg Furniture Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2025
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
19
21
3
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 September 2024
313,259
61,744
139,635
514,638
Disposals
-
0
(3,732)
(40,000)
(43,732)
At 31 August 2025
313,259
58,012
99,635
470,906
Depreciation and impairment
At 1 September 2024
277,529
23,726
69,322
370,577
Depreciation charged in the year
13,120
7,609
21,126
41,855
Eliminated in respect of disposals
-
0
(3,732)
(17,500)
(21,232)
At 31 August 2025
290,649
27,603
72,948
391,200
Carrying amount
At 31 August 2025
22,610
30,409
26,687
79,706
At 31 August 2024
35,730
38,018
70,313
144,061
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
143,951
199,665
Amounts owed by group undertakings
7,856
27,882
Other debtors
16,243
47,132
Prepayments and accrued income
436,318
392,319
604,368
666,998
Tagg Furniture Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2025
- 6 -
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
-
0
14,339
Obligations under finance leases
19,253
31,008
Trade creditors
91,200
201,675
Amounts owed to group undertakings
407,833
-
0
Taxation and social security
5,134
14,898
Other creditors
30,590
12,604
Accruals and deferred income
20,296
19,321
574,306
293,845

The hire purchase liabilities are secured on the assets concerned.

6
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Obligations under finance leases
7,463
25,346

The hire purchase liabilities are secured on the assets concerned.

7
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
435,385
490,381
8
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Sales
Sales
2025
2024
£
£
Group companies
612,207
1,773,959
Tagg Furniture Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2025
8
Related party transactions
(Continued)
- 7 -
Management charges receivable
2025
2024
£
£
Group companies
105,000
210,000
2025
2024
Amounts due to related parties
£
£
Group companies
407,833
-
2025
2024
Amounts due from related parties
£
£
Group companies
7,855
27,881
9
Parent company

The company's parent undertaking is Tagg Holdings Limited, a company incorporated in England and Wales.

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