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Company Information
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Contents
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Directors' report
for the year ended 31 December 2021
The directors present their report and the
unaudited financial statements of Tajfo Limited ("the Company") for the year ended 31 December 2021.
The profit for the year after taxation amounted to £
12,697
(2020 -
loss
£
8,417
)
.
The directors are satisfied with the results of the company for the year and are confident of growth in the following year.
The directors did not recommend payment of a dividend during the year (2020 : £NIL).
The directors of the company who were in office during the year and up to the date of signing of the financial statements were:
In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
This report was approved by the board and signed on its behalf by:
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Chartered accountants' report to the directors on the preparation of the unaudited statutory financial statements of Tajfo Limited for the year ended 31 December 2021
Buzzacott LLP
130 Wood Street
EC2V 6DL
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Statement of comprehensive income
for the year ended 31 December 2021
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Balance sheet
As at
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Balance sheet
(continued)
As at
31 December 2021
The financial statements were approved and authorised for issue by the board and were signed on its behalf by
:
The notes on pages 6 to 11 form part of these financial statements.
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Notes to the financial statements
for the year ended 31 December 2021
Tajfo Limited is a private company limited by shares and incorporated in England and Wales. The registered office of the company and its principal place of business is located on 27 Neville Street, London, SW7 3AS. The principal activity of the company is the provision of investment advisory services.
2.
Significant accounting policies
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 financial statements have been prepared under FRS102 Section 1A - small entities.
The financial statements are presented in Pound Sterling (£), which is also the functional currency. The following principal accounting policies have been applied consistently throughout the year.
After reviewing the forecasts and projections the directors have reasonable expectations that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
All expenses have been accounted for on an accruals basis.
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Notes to the financial statements
for the year ended 31 December 2021
2.
Significant accounting policies (continued)
Tax is recognised in the Statement of comprehensive income, expect that a charge attributable to an item of income and expenses 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 taxation 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.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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.
Tangible assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
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 the Statement of comprehensive income.
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Notes to the financial statements
for the year ended 31 December 2021
2.
Significant accounting policies (continued)
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.
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 financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instruments.
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Notes to the financial statements
for the year ended 31 December 2021
There were no significant estimates or judgements made in the year.
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Notes to the financial statements
for the year ended 31 December 2021
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Notes to the financial statements
for the year ended 31 December 2021
Page 11
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