TAG_CONSULTANTS_LIMITED - Accounts

TAG CONSULTANTS LIMITED - Company Information

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Company Registration No. SC107752 (Scotland)

TAG CONSULTANTS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2016

TAG CONSULTANTS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

TAG CONSULTANTS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 APRIL 2016

- 1 -

2016

2015

Notes

Fixed assets

Intangible assets

70,500

62,000

Tangible assets

3,581

2,679

74,081

64,679

Current assets

Stocks

7,035

12,535

Debtors

64,763

11,783

Cash at bank and in hand

144,040

172,948

215,838

197,266

Creditors: amounts falling due within one year

(77,703)

(62,691)

Net current assets

138,135

134,575

Total assets less current liabilities

212,216

199,254

Provisions for liabilities

(10,591)

(11,754)

201,625

187,500

Capital and reserves

Called up share capital

1,000

Profit and loss account

200,625

186,500

Shareholders' funds

201,625

187,500

TAG CONSULTANTS LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 APRIL 2016

- 2 -

For the financial year ended 30 April 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 17 January 2017

David Wood

Director

Company Registration No. SC107752

TAG CONSULTANTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

1.3

Turnover

Turnover represents the value of sales to customers, net of discounts, allowances and other payments to customers and excludes VAT. Sales of services are recognised when the company has provided the service to the customer and collectability of the related receivable is reasonably assured.

1.4

Research and development

Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same way unless the director is satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and when complete is amortised over the period during which the company is expected to benefit which is assessed by the directors as being ten years.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings and office equipment

33% and 25% straight line

1.6

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.7

Stock and work in progress

Work in progress is valued at the lower of cost and net realisable value.

1.8

Deferred taxation

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all differences that have originated but not reversed at the balance sheet date. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.

1.9

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

1.10

Pensions

The company operates a defined contribution pension scheme. The pension charge in the profit and loss account represents the amounts payable by the company to the fund in respect of the year.

TAG CONSULTANTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2016

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 May 2015

62,000

15,942

77,942

Additions

8,500

3,644

12,144

Disposals

(1,963)

At 30 April 2016

70,500

17,623

88,123

Depreciation

At 1 May 2015

13,262

On disposals

(1,963)

Charge for the year

2,743

At 30 April 2016

14,042

Net book value

At 30 April 2016

70,500

3,581

74,081

At 30 April 2015

62,000

2,679

64,679

Share capital

2016

2015

Allotted, called up and fully paid

1,000 Ordinary shares of £1 each

1,000