Company Registration No. 09890129 (England and Wales)
Tarka Group Ltd
Unaudited accounts
for the year ended 31 December 2022
Tarka Group Ltd
Unaudited accounts
Contents
Tarka Group Ltd
Company Information
for the year ended 31 December 2022
Company Number
09890129 (England and Wales)
Registered Office
20-22 Wenlock Road
London
N1 7GU
England
Tarka Group Ltd
Statement of financial position
as at 31 December 2022
Tangible assets
46,602
21,505
Cash at bank and in hand
27,011
7,697
Creditors: amounts falling due within one year
(270,593)
(106,403)
Net current liabilities
(221,226)
(91,557)
Total assets less current liabilities
(169,832)
(70,052)
Creditors: amounts falling due after more than one year
(24,167)
(34,167)
Net liabilities
(193,999)
(104,219)
Called up share capital
100
100
Profit and loss account
(194,099)
(104,319)
Shareholders' funds
(193,999)
(104,219)
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 August 2023 and were signed on its behalf by
R J Gordon-Dean
Director
Company Registration No. 09890129
Tarka Group Ltd
Notes to the Accounts
for the year ended 31 December 2022
Tarka Group Ltd is a private company, limited by shares, registered in England and Wales, registration number 09890129. The registered office is 20-22 Wenlock Road, London, N1 7GU, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
These accounts have been prepared on a going concern basis on the assumption that the director and shareholders will continue to support the company for the foreseeable future.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Tarka Group Ltd
Notes to the Accounts
for the year ended 31 December 2022
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of financial statements in compliance with FRS 102 Section 1A requires the use of certain critical accounting estimates. it also requires management to exercise judgement in applying the company's accounting polices. In preparing these financial statements, the directors have made the following judgements:
Determine whether there are indicators of impairment of the company's intangible fixed assets and tangible fixed assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.
Other key sources of estimation uncertainty:
Tangible fixed assets (note 5)
Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.
4
Intangible fixed assets
Other
Tarka Group Ltd
Notes to the Accounts
for the year ended 31 December 2022
5
Tangible fixed assets
Plant & machinery
At 31 December 2022
91,698
Charge for the year
16,172
At 31 December 2022
45,096
At 31 December 2022
46,602
At 31 December 2021
21,505
Amounts falling due within one year
Trade debtors
14,464
4,990
Accrued income and prepayments
7,792
-
7
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
10,000
10,000
Trade creditors
6,803
2,951
Taxes and social security
6,756
14,634
Loans from directors
198,181
27,574
Deferred income
24,929
9,884
8
Creditors: amounts falling due after more than one year
2022
2021
The company has entered into a coronavirus bounce back loan agreement for a facility of £50,000 which was fully drawn down in 2020. The loan bears interest at 2.5% pa. The loan is unsecured and repayable in monthly instalments from 11 June 2021, with the final instalment due on 11 June 2026.
Tarka Group Ltd
Notes to the Accounts
for the year ended 31 December 2022
Allotted, called up and fully paid:
780 Ordinary A shares of £0.10 each
78
78
220 Ordinary B shares of £0.10 each
22
22
10
Average number of employees
During the year the average number of employees was 5 (2021: 7).
