TAG Industries Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 08694902 (England and Wales)

TAG INDUSTRIES LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

S W Cowan

M Ash

REGISTERED OFFICE:

Sidings House

Sidings Court

Lakeside

Doncaster

South Yorkshire

DN4 5NU

REGISTERED NUMBER:

08694902 (England and Wales)

FIXED ASSETS

Tangible assets

2

593,797

129,926

CURRENT ASSETS

Stocks

32,034

-

Debtors

852,395

527,913

Cash at bank

3,931,401

2,013,722

4,815,830

2,541,635

CREDITORS

Amounts falling due within one year

2,669,889

1,727,514

NET CURRENT ASSETS

2,145,941

814,121

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,739,738

944,047

PROVISIONS FOR LIABILITIES

94,644

27,064

NET ASSETS

2,645,094

916,983

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

2,644,994

916,883

SHAREHOLDERS' FUNDS

2,645,094

916,983

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 16 November 2016 and were signed on its behalf
by:

S W Cowan - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Stocks

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

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

141,959

Additions

586,752

At 31 May 2016

728,711

DEPRECIATION

At 1 June 2015

12,033

Charge for year

122,881

At 31 May 2016

134,914

NET BOOK VALUE

At 31 May 2016

593,797

At 31 May 2015

129,926

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

1

100