Tagwaves Ltd
Tagwaves Ltd
Registered number: 09124612
Unaudited Financial Statements
For the Period 1 August 2019 to 29 February 2020
NSA Accountants Ltd
Tagwaves Ltd
Unaudited Financial Statements
For the Period 1 August 2019 to 29 February 2020
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Tagwaves Ltd
Balance Sheet
As at
29 February 2020
Balance Sheet
Registered number:
09124612
For the period ending 29 February 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 29 February 2020 | 31 July 2019 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 6 |
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| NET LIABILITIES |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 8 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | (118,947) | (117,785) | |||
Page 1
Tagwaves Ltd
Balance Sheet (continued)
As at
29 February 2020
Director's responsibilities
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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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
Tagwaves Ltd
Notes to the Financial Statements
For the Period 1 August 2019 to 29 February 2020
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
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| Motor Vehicles |
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| Fixtures & Fittings |
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1.3.
Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 29 February 2020 | 31 July 2019 | ||
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| Office and administration |
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Page 3
Tagwaves Ltd
Notes to the Financial Statements (continued)
For the Period 1 August 2019 to 29 February 2020
3.
Tangible Assets
| Plant & Machinery | Motor Vehicles | Fixtures & Fittings | Total | |
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| £ | £ | £ | £ | |
| Cost | ||||
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| Disposals |
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| Depreciation | ||||
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| Net Book Value | ||||
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4.
Debtors
| 29 February 2020 | 31 July 2019 | ||
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| £ | £ | ||
| Due within one year | |||
| VAT | - |
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5.
Creditors: Amounts Falling Due Within One Year
| 29 February 2020 | 31 July 2019 | ||
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| £ | £ | ||
| Director's loan account |
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6.
Creditors: Amounts Falling Due After More Than One Year
| 29 February 2020 | 31 July 2019 | ||
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| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
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Page 4
Tagwaves Ltd
Notes to the Financial Statements (continued)
For the Period 1 August 2019 to 29 February 2020
7.
Obligations Under Finance Leases and Hire Purchase
| 29 February 2020 | 31 July 2019 | ||
|---|---|---|---|
| £ | £ | ||
| The maturity of these amounts is as follows: | |||
| Amounts Payable: | |||
| Between one and five years |
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9.
General Information
Tagwaves Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09124612 . The registered office is 11 ventnor Road, Leicester, LE2 3RL.
Page 5