Target Umbrella Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: NI601264 (Northern Ireland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 NOVEMBER 2022

FOR

TARGET UMBRELLA LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

B A R Newton

REGISTERED OFFICE:

6 Margaret Street

Newry

BT34 1DF

REGISTERED NUMBER:

NI601264 (Northern Ireland)

ACCOUNTANTS:

Moss & Williamson Limited

Chartered Accountants

Booth Street Chambers

Ashton-under-Lyne

Lancashire

OL6 7LQ

FIXED ASSETS

Intangible assets

4

-

3,606

CURRENT ASSETS

Debtors

890,343

1,020,681

Cash at bank

95,251

88,034

985,594

1,108,715

CREDITORS

Amounts falling due within one year

626,415

777,651

NET CURRENT ASSETS

359,179

331,064

TOTAL ASSETS LESS CURRENT LIABILITIES

359,179

334,670

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

359,178

334,669

SHAREHOLDERS' FUNDS

359,179

334,670

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 November 2022 in accordance with Section 476 of the Companies Act 2006.

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.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 29 November 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 14 August 2023 and were signed by:

B A R Newton - Director

1.	STATUTORY INFORMATION

Target Umbrella Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents the value of services provided where the right to consideration has been obtained.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

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.

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 41 (2021 - 139 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 30 November 2021

and 29 November 2022

32,450

AMORTISATION

At 30 November 2021

28,844

Amortisation for year

3,606

At 29 November 2022

32,450

NET BOOK VALUE

At 29 November 2022

-

At 29 November 2021

3,606

5.	ULTIMATE CONTROLLING PARTY

The controlling party is B A R Newton.