Tapas Bag Ltd - Accounts

Tapas Bag Ltd - Accounts

TAPAS BAG LTD - Company Information

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Registered Number: 09084678
England and Wales

 

 

 

TAPAS BAG LTD


Abridged Accounts
 


Period of accounts

Start date: 01 July 2018

End date: 30 June 2019

Tapas Bag Ltd
Contents Page
For the year ended 30 June 2019
In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the accounts of Tapas Bag Ltd for the year ended 30 June 2019 which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the member of Tapas Bag Ltd, as a body, in accordance with the terms of our engagement letter dated 30 March 2020. Our work has been undertaken solely to prepare for your approval the accounts of Tapas Bag Ltd and state those matters that we have agreed to state to the Board ofs of Tapas Bag Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants and as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tapas Bag Ltd and its members as a body for our work or for this report.

It is your duty to ensure that Tapas Bag Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and Loss of Tapas Bag Ltd. You consider that Tapas Bag Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Tapas Bag Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



....................................................
SNP Plus Ltd
Accountants and Tax Advisors
284 Station Road
Harrow, London
HA1 2EA
30 March 2020
1
 
 		 Notes
 		 2019
£		   2018
£
Fixed assets      
Tangible fixed assets 2 49,467    65,643 
49,467    65,643 
Current assets      
Stocks 15,861    14,251 
Debtors: amounts falling due within one year 8,360    8,360 
Debtors: amounts falling due after one year 63,000    63,000 
Cash at bank and in hand -    7,690 
87,221    93,301 
Creditors: amount falling due within one year (282,446)   (283,779)
Net current assets (195,225)   (190,478)
 
Total assets less current liabilities (145,758)   (124,835)
Creditors: amount falling due after more than one year (150,000)   (150,000)
Provisions for liabilities (2,800)   - 
Net assets (298,558)   (274,835)
 

Capital and reserves 		     
Called up share capital 3 150    150 
Profit and loss account (298,708)   (274,985)
Shareholders funds (298,558)   (274,835)
 


For the year ended 30 June 2019 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' Responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
Signed on behalf of the board of directors


--------------------------------
Dharmesh Ramnik Vaghela
Director		--------------------------------
Shiba Hari Tiwari
Director

Date approved by the board: 30 March 2020
2
General Information
Tapas Bag Ltd is a private company, limited by shares , registered in England and Wales , registration number 09084678 , registration address 96 Llanover Road, Wembley, Middlesex, HA9 7LT.

The presentation currency is £ sterling
1.

Accounting Policies

Significant accounting policies
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)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Deferred taxation
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Leasehold Property 15 Years Straight Line
Plant and Machinery 25% Straight Line
Fixtures and Fittings 25% Straight Line
Computer Equipment 25% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Tangible fixed assets

Cost Leasehold Property   Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 July 2018 42,134    35,263    22,420    7,698    107,515 
Additions -    433    2,386    158    2,977 
Disposals -    -    -    -    - 
At 30 June 2019 42,134    35,696    24,806    7,856    110,492 
Depreciation
At 01 July 2018 6,329    17,443    13,968    4,132    41,872 
Charge for year 2,809    8,815    5,605    1,924    19,153 
On disposals -    -    -    -    - 
At 30 June 2019 9,138    26,258    19,573    6,056    61,025 
Net book values
Closing balance as at 30 June 2019 32,996    9,438    5,233    1,800    49,467 
Opening balance as at 01 July 2018 35,805    17,820    8,452    3,566    65,643 


3.

Share Capital

Allotted
2019
£		   2018
£
150 Class A shares of £1.00 each 150    150 
150    150 

4.

Staff Costs

2019   2018
 
Average number of employees during the year Number   Number
Administration 2    2 
Production 2    2 
Sales 3    5 
7    9 

5.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
2019
£		 2018
£		 2019
£		 2018
£
Mr. Shiba Hari Tiwari and Mr. Dharmesh Ramnik Vaghela- - 423,624 423,074 


Mr. Shiba Hari Tiwari and Mr. Dharmesh Ramnik Vaghela
Directors' current accounts less than one year represents £136,812.00 (2018 : £136,537.00) owed to Mr. Shiba Hari Tiwari and £136,812.00 (2018 : £136,536.00) owed to Mr. Dharmesh Ramnik Vaghela. Directors' loan accounts more than one year represent £75,000.00 (2018 : £75,000.00) owed to Mr. Shiba Hari Tiwari and £75,000.00 (2018 : £75,000.00) owed to Mr. Dharmesh Ramnik Vaghela.
3