TAD Global Limited - Accounts to registrar (filleted) - small 18.2
TAD Global Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
9 MARCH 2020 TO 31 MARCH 2021 |
FOR |
TAD GLOBAL LIMITED |
TAD GLOBAL LIMITED (REGISTERED NUMBER: 12506446) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 9 MARCH 2020 TO 31 MARCH 2021 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
TAD GLOBAL LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 9 MARCH 2020 TO 31 MARCH 2021 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Newport House |
Newport Road |
Stafford |
Staffordshire |
ST16 1DA |
TAD GLOBAL LIMITED (REGISTERED NUMBER: 12506446) |
STATEMENT OF FINANCIAL POSITION |
31 MARCH 2021 |
Notes | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
TAD GLOBAL LIMITED (REGISTERED NUMBER: 12506446) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 9 MARCH 2020 TO 31 MARCH 2021 |
1. | STATUTORY INFORMATION |
TAD Global Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 12506446 and registered office is 13 Oakfield Road, Clifton, Bristol BS8 2AJ. The principal activity during the year was that of wholesale trade. |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared on the going concern basis and under the historical cost convention. |
Functional currency |
The financial statements are prepared in sterling which is the functional currency of the company. |
Significant judgements and estimates |
In determining and applying accounting policies, judgement is often required in respect of items where the choice of specific policy, accounting estimate or assumption to be followed could materially affect the reported results or net asset position of the company; it may later be determined that a different choice would have been more appropriate. Management considers that certain accounting estimates and assumptions relating to revenue, taxation, tangible fixed assets, provisions and contingent liabilities and accruals are its critical accounting estimates. |
Turnover |
Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. |
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. |
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date. |
Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
TAD GLOBAL LIMITED (REGISTERED NUMBER: 12506446) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 9 MARCH 2020 TO 31 MARCH 2021 |
3. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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. |
Provisions |
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. |
Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL. |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
Additions |
At 31 March 2021 |
DEPRECIATION |
Charge for period |
At 31 March 2021 |
NET BOOK VALUE |
At 31 March 2021 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
Other debtors |
TAD GLOBAL LIMITED (REGISTERED NUMBER: 12506446) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 9 MARCH 2020 TO 31 MARCH 2021 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Taxation and social security |
8. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the period ended 31 March 2021: |
£ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - |
Amounts waived | - |
Balance outstanding at end of period |
The overdrawn directors loan account was repaid within nine months of the year end. |