ACCOUNTS - Final Accounts


Caseware UK (AP4) 2020.0.247 2020.0.247 2021-03-312021-03-3122020-04-01falsehealth and social care services2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06936481 2020-04-01 2021-03-31 06936481 2019-04-01 2020-03-31 06936481 2021-03-31 06936481 2020-03-31 06936481 c:Director1 2020-04-01 2021-03-31 06936481 d:FurnitureFittings 2020-04-01 2021-03-31 06936481 d:FurnitureFittings 2021-03-31 06936481 d:FurnitureFittings 2020-03-31 06936481 d:FurnitureFittings d:OwnedOrFreeholdAssets 2020-04-01 2021-03-31 06936481 d:OfficeEquipment 2020-04-01 2021-03-31 06936481 d:OfficeEquipment 2021-03-31 06936481 d:OfficeEquipment 2020-03-31 06936481 d:OfficeEquipment d:OwnedOrFreeholdAssets 2020-04-01 2021-03-31 06936481 d:ComputerEquipment 2020-04-01 2021-03-31 06936481 d:ComputerEquipment 2021-03-31 06936481 d:ComputerEquipment 2020-03-31 06936481 d:ComputerEquipment d:OwnedOrFreeholdAssets 2020-04-01 2021-03-31 06936481 d:OwnedOrFreeholdAssets 2020-04-01 2021-03-31 06936481 d:CurrentFinancialInstruments 2021-03-31 06936481 d:CurrentFinancialInstruments 2020-03-31 06936481 d:Non-currentFinancialInstruments 2021-03-31 06936481 d:Non-currentFinancialInstruments 2020-03-31 06936481 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 06936481 d:CurrentFinancialInstruments d:WithinOneYear 2020-03-31 06936481 d:Non-currentFinancialInstruments d:AfterOneYear 2021-03-31 06936481 d:Non-currentFinancialInstruments d:AfterOneYear 2020-03-31 06936481 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2021-03-31 06936481 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2020-03-31 06936481 d:ShareCapital 2021-03-31 06936481 d:ShareCapital 2020-03-31 06936481 d:RetainedEarningsAccumulatedLosses 2021-03-31 06936481 d:RetainedEarningsAccumulatedLosses 2020-03-31 06936481 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2021-03-31 06936481 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2020-03-31 06936481 c:FRS102 2020-04-01 2021-03-31 06936481 c:AuditExemptWithAccountantsReport 2020-04-01 2021-03-31 06936481 c:FullAccounts 2020-04-01 2021-03-31 06936481 c:PrivateLimitedCompanyLtd 2020-04-01 2021-03-31 06936481 2 2020-04-01 2021-03-31 iso4217:GBP xbrli:pure

Registered number: 06936481










TAGENT LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2021

 
TAGENT LTD
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OFTAGENT LTD
FOR THE YEAR ENDED 31 MARCH 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tagent Ltd for the year ended 31 March 2021 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given to us.
 

This report is made solely to the director of Tagent Ltd in accordance with the terms of our agreement. Our work has been undertaken solely to prepare for your approval the financial statements of Tagent Ltd and state those matters that we have agreed to state to her in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tagent Ltd and its  director for our work or for this report.
 
 
It is your duty to ensure that Tagent Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the Company's assets, liabilities, financial position and profit. You consider that Tagent Ltd is exempt from the statutory audit requirement for the year.
 
 
We have not been instructed to carry out an audit or review of the financial statements of Tagent Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.





Shipleys Tax Planning

5 January 2022
Page 1

 
TAGENT LTD
REGISTERED NUMBER: 06936481

BALANCE SHEET
AS AT 31 MARCH 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,989
551

  
1,989
551

Current assets
  

Debtors: amounts falling due within one year
 5 
16,465
18,529

Cash at bank and in hand
 6 
11,995
2,850

  
28,460
21,379

Creditors: amounts falling due within one year
 7 
(9,507)
(8,833)

Net current assets
  
 
 
18,953
 
 
12,546

Total assets less current liabilities
  
20,942
13,097

Creditors: amounts falling due after more than one year
 8 
(16,250)
-

  

Net assets
  
4,692
13,097


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
4,592
12,997

  
4,692
13,097


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 5 January 2022.




Page 2

 
TAGENT LTD
REGISTERED NUMBER: 06936481

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2021

Talent Nyatsanza
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
TAGENT LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021

1.


General information

Tagent Ltd is a company domiciled in England & Wales, registration number 06936481. The registered office is Wharf House, Victoria Quays, Wharf Street, Sheffield, S2 5SY.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
TAGENT LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021

2.Accounting policies (continued)

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures & fittings
-
25%
Office equipment
-
25%
Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
Page 5

 
TAGENT LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021

2.Accounting policies (continued)


2.11
Financial instruments (continued)

third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

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 the Statement of comprehensive income.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2020 - 2).

Page 6

 
TAGENT LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021

4.


Tangible fixed assets





Fixtures & fittings
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2020
191
-
1,849
2,040


Additions
-
273
2,263
2,536



At 31 March 2021

191
273
4,112
4,576



Depreciation


At 1 April 2020
191
-
1,298
1,489


Charge for the year on owned assets
-
68
1,030
1,098



At 31 March 2021

191
68
2,328
2,587



Net book value



At 31 March 2021
-
205
1,784
1,989



At 31 March 2020
-
-
551
551


5.


Debtors

2021
2020
£
£


Trade debtors
1,126
2,590

Other debtors
15,339
15,939

16,465
18,529



6.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
11,995
2,850

11,995
2,850


Page 7

 
TAGENT LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021

7.


Creditors: Amounts falling due within one year

2021
2020
£
£

Corporation tax
8,717
8,833

Other creditors
790
-

9,507
8,833



8.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Bank loans
16,250
-

16,250
-


During the year the company received the Government Bounce Back Loan from HSBC of £16,250. The loan is interest free for 12 months, after which interest is charged at a fixed rate of 2.5% per annum. The loan is repayable to HSBC after a period of 6 years.


9.


Loans


Analysis of the maturity of loans is given below:


2021
2020
£
£




Amounts falling due after more than 5 years

Bank loans
16,250
-

16,250
-

16,250
-



10.


Financial instruments

2021
2020
£
£

Financial assets


Financial assets measured at fair value through profit or loss
11,995
2,850




Financial assets measured at fair value through profit or loss comprise of cash at bank and in hand.

Page 8

 
TAGENT LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021

11.


Related party transactions

During the year the director repaid the company £989 (2020: £8,405). Interest has been charged at 2.6% on the remaining outstanding balance. At the balance sheet date other debtors included £15,339 (2020: £15,939) as amounts owed by the director.


Page 9