Tag Flooring & Interiors Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08401435 (England and Wales)

Unaudited Financial Statements for the Year Ended 29 February 2020

for

Tag Flooring & Interiors Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Report of the Accountants

5

DIRECTORS:

T M Greenfield

Mrs A W M Greenfield

SECRETARY:

REGISTERED OFFICE:

17 The Weavers

Allington

Maidstone

Kent

ME16 0NZ

REGISTERED NUMBER:

08401435 (England and Wales)

ACCOUNTANTS:

AJH Accountancy Ltd

17 The Weavers

Allington

Maidstone

Kent

ME16 0NZ

FIXED ASSETS

Tangible assets

4

1,475

16,150

CURRENT ASSETS

Stocks

5,197

16,714

Debtors

5

33,556

53,784

Cash at bank

314,277

251,924

353,030

322,422

CREDITORS

Amounts falling due within one year

6

58,260

33,623

NET CURRENT ASSETS

294,770

288,799

TOTAL ASSETS LESS CURRENT LIABILITIES

296,245

304,949

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

296,145

304,849

SHAREHOLDERS' FUNDS

296,245

304,949

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 June 2020 and were signed on its behalf by:

T M Greenfield - Director

1.	STATUTORY INFORMATION

Tag Flooring & Interiors Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

33% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2019

61,867

Disposals

(35,599

)

At 29 February 2020

26,268

DEPRECIATION

At 1 March 2019

45,717

Charge for year

3,025

Eliminated on disposal

(23,949

)

At 29 February 2020

24,793

NET BOOK VALUE

At 29 February 2020

1,475

At 28 February 2019

16,150

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29.2.20

28.2.19

£

£

Trade debtors

27,780

41,797

Other debtors

5,776

11,987

33,556

53,784

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29.2.20

28.2.19

£

£

Bank loans and overdrafts

-

30

Trade creditors

9,120

7,103

Taxation and social security

48,746

25,680

Other creditors

394

810

58,260

33,623

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 29 February 2020 set out on pages one to three and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

AJH Accountancy Ltd

17 The Weavers

Allington

Maidstone

Kent

ME16 0NZ

2 June 2020