| Tagit Digital UK Ltd |
| Notes to the Accounts |
| for the period from 1 July 2024 to 31 December 2025 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
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Going concern |
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The company had retained losses as at the balance sheet date which were not covered by the share capital of the company. The company is continuing to trade as the company's parent company is funding the company in the form of a loan. As set out in the Directors' Report, the company's parent company is planning to continue this financial support for the company for a period of not less than 12 months from the date that these financial statements were signed. |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover comprises revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of contracts. 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. |
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Debtors |
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Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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| 2 |
Audit information |
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Summary Audit Opinion |
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The auditor’s report was dated 4 August 2026. |
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The auditor’s report dated 4 August 2026 was unqualified. |
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The senior statutory auditor was Thomas McManners BSc ACA ACMI. |
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Thomas McManners BSc ACA ACMI acts for and on behalf of TTCA Ltd. |
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| 3 |
Employees and directors |
2025 |
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| Number |
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Average number of directors and persons employed by the company |
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1 |
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| 4 |
Debtors |
2025 |
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| £ |
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Prepayments |
661 |
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Accrued income |
5,027 |
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5,688 |
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| 5 |
Creditors: amounts falling due within one year |
2025 |
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| £ |
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Trade creditors |
72 |
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Accruals |
3,554 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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200,378 |
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204,004 |
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| 6 |
Other information |
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Tagit Digital UK Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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269 Farnborough Road |
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Farnborough |
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Hampshire |
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GU14 7LY |