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Registered number: 05239792
Taxable Limited
Director's Report and
Financial Statements
For The Year Ended 30 September 2025
Taxable Limited
Contents
Contents
Page
Company Information 1
Director's Report 2
Profit and Loss Account 3
Balance Sheet 4
Notes to the Financial Statements 5—6
The following pages do not form part of the statutory accounts:
Trading Profit and Loss Account 7
Page 1
Taxable Limited
Company Information
For The Year Ended 30 September 2025
Company Information
Director Mr John Jefferis
Company Number 05239792
Registered Office Unit 1 Hilfield Park, Hilfield Lane
Aldenham
Watford
Herts
WD25 8DB
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Taxable Limited
Company No. 05239792
Director's Report For The Year Ended 30 September 2025
Director's Report
The director presents his report and the financial statements for the year ended 30 September 2025.
Directors
The director who held office during the year were as follows:
Mr John Jefferis
Statement of Director's Responsibilities
The director is responsible for preparing the Director's Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the director is required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr John Jefferis
Director
30/07/2026
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Taxable Limited
Profit and Loss Account
For The Year Ended 30 September 2025
Profit and Loss Account
2025 2024
Notes £ £
TURNOVER 19,839 19,276
Cost of sales (18,839 ) (3,393 )
GROSS PROFIT 1,000 15,883
Administrative expenses (2,740 ) (4,332 )
OPERATING (LOSS)/PROFIT AND (LOSS)/PROFIT BEFORE TAXATION (1,740 ) 11,551
Tax on (Loss)/profit - (1,824 )
(LOSS)/PROFIT AFTER TAXATION BEING (LOSS)/PROFIT FOR THE FINANCIAL YEAR (1,740 ) 9,727
The notes on pages 5 to 6 form part of these financial statements.
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Taxable Limited
Balance Sheet
As At 30 September 2025
Balance Sheet
2025 2024
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 - 940
Debtors 5 52,304 60,427
Cash at bank and in hand 184 4,067
52,488 65,434
Creditors: Amounts Falling Due Within One Year 6 (1,724 ) (2,930 )
NET CURRENT ASSETS (LIABILITIES) 50,764 62,504
TOTAL ASSETS LESS CURRENT LIABILITIES 50,764 62,504
NET ASSETS 50,764 62,504
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account 50,763 62,503
SHAREHOLDERS' FUNDS 50,764 62,504
For the year ending 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board
Mr John Jefferis
Director
30/07/2026
The notes on pages 5 to 6 form part of these financial statements.
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Taxable Limited
Notes to the Financial Statements
For The Year Ended 30 September 2025
Notes to the Financial Statements
1. General Information
Taxable Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05239792 . The registered office is Unit 1 Hilfield Park, Hilfield Lane, Aldenham, Watford, Herts, WD25 8DB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover 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.
2.3. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: )
1 -
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Taxable Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 September 2025
4. Stocks
2025 2024
£ £
Work in progress - 940
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors - 4,642
Other debtors 52,304 55,785
52,304 60,427
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Other creditors - 1,206
Taxation and social security 1,724 1,724
1,724 2,930
7. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1 1
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 October 2024 Amounts advanced Amounts repaid Amounts written off As at 30 September 2025
£ £ £ £ £
Mr John Jefferis 2,282 1,994 - - 4,276
The above loan is unsecured, interest free and repayable on demand.
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Taxable Limited
Trading Profit and Loss Account
For The Year Ended 30 September 2025
Trading Profit and Loss Account
2025 2024
£ £ £ £
TURNOVER
Sales 19,839 19,276
COST OF SALES
Purchases 591 279
Directors' fees 8,000 -
Travel and subsistence expenses - 13
Computer software, IT consumables and maintenance 1,893 2,589
Bad debts written off 8,355 -
Depreciation of fixtures and fittings - 512
(18,839 ) (3,393 )
GROSS PROFIT 1,000 15,883
Administrative Expenses
Light and heat 800 814
Computer software, consumables and maintenance 588 543
Insurance 476 469
Telecommunications and data costs 150 -
Legal fees - 2,400
Subscriptions 347 -
Other office costs 20 108
Sundry expenses (1 ) (2 )
Sundry type A 360 -
(2,740 ) (4,332 )
OPERATING (LOSS)/PROFIT (1,740) 11,551
(LOSS)/PROFIT BEFORE TAXATION (1,740) 11,551
Tax on (Loss)/profit
Corporation tax charge - 1,824
- (1,824)
(LOSS)/PROFIT AFTER TAXATION BEING (LOSS)/PROFIT FOR THE FINANCIAL YEAR (1,740 ) 9,727
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