TAXTEC GROUP LIMITED

• ⚠

  Material uncertainty over going concern

  We draw your attention to Note 12 in the financial statements, which indicates that the group incurred a net loss of £392,765 during the period ended 30 November 2024 along with its current liabilities exceeding its current assets by £394,018. As stated in Note 12, these events or conditions, along with other matters as set forth in Note 1.4, indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter. As can be seen from these financial statements, the group made a loss for the period of £392,765. These accounts reflect the establishment of the TaxTec group. Within the group the first contract has been signed for revenue with high expectations of numerous others to follow given its direct sales pipeline and referrals from the companies network of sales agents and strategic partners. The directors are aware that the losses incurred and high level of liabilities compared to available current assets represent a material uncertainty which may cast doubt on the group's ability to continue as a going concern. However, based on forecasts of projected income (including the group's first contract with a revenue generating client after the balance sheet date) and financing arrangements available, including continued support from the group's owners, the directors are comfortable that they have a reasonable expectation that the group will continue as a going concern and therefore preparation of accounts on this basis is appropriate

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

1. TAXTEC GROUP LIMITED 2024-03-16 → present
2. TAXTEC LIMITED 2023-11-15 → 2024-03-16

Accounting basis

FRS 102

Reporting scope

Consolidated group

Abridged

Yes — abridged accounts (limited disclosure)

Auditor

Matthew Wilkinson BSc FCA, Moore Green

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw your attention to Note 12 in the financial statements, which indicates that the group incurred a net loss of £392,765 during the period ended 30 November 2024 along with its current liabilities exceeding its current assets by £394,018. As stated in Note 12, these events or conditions, along with other matters as set forth in Note 1.4, indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter. As can be seen from these financial statements, the group made a loss for the period of £392,765. These accounts reflect the establishment of the TaxTec group. Within the group the first contract has been signed for revenue with high expectations of numerous others to follow given its direct sales pipeline and referrals from the companies network of sales agents and strategic partners. The directors are aware that the losses incurred and high level of liabilities compared to available current assets represent a material uncertainty which may cast doubt on the group's ability to continue as a going concern. However, based on forecasts of projected income (including the group's first contract with a revenue generating client after the balance sheet date) and financing arrangements available, including continued support from the group's owners, the directors are comfortable that they have a reasonable expectation that the group will continue as a going concern and therefore preparation of accounts on this basis is appropriate”

Group structure

1. TAXTEC GROUP LIMITED · parent
   1. TaxTec (UK) Limited 100% · United Kingdom
   2. TaxTec Inc 100% · United States of America

Significant events

• “Since the year end the group has signed its first revenue-generating client.”
• “Within the group the first contract has been signed for revenue with high expectations of numerous others to follow given its direct sales pipeline and referrals from the companies network of sales agents and strategic partners.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

10

last 12 months

Capital events

16

last 24 months

Officers appointed

1

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.