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REGISTERED NUMBER: 02293004 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

THE TECHNOLOGY FORGE LIMITED

THE TECHNOLOGY FORGE LIMITED (REGISTERED NUMBER: 02293004)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021




Page

Balance Sheet 1

Notes to the Financial Statements 3


THE TECHNOLOGY FORGE LIMITED (REGISTERED NUMBER: 02293004)

BALANCE SHEET
31 DECEMBER 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,650 21,747

CURRENT ASSETS
Debtors 5 1,171,168 1,182,405
Cash at bank and in hand 1,919,545 1,616,549
3,090,713 2,798,954
CREDITORS
Amounts falling due within one year 6 2,276,021 2,031,946
NET CURRENT ASSETS 814,692 767,008
TOTAL ASSETS LESS CURRENT
LIABILITIES

836,342

788,755

PROVISIONS FOR LIABILITIES 4,089 -
NET ASSETS 832,253 788,755

CAPITAL AND RESERVES
Called up share capital 69 69
Share premium 23,420 23,420
Capital redemption reserve 2,040 2,040
Retained earnings 806,724 763,226
SHAREHOLDERS' FUNDS 832,253 788,755

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 TECHNOLOGY FORGE LIMITED (REGISTERED NUMBER: 02293004)

BALANCE SHEET - continued
31 DECEMBER 2021


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 September 2022 and were signed on its behalf by:





M T Wardman - Director


THE TECHNOLOGY FORGE LIMITED (REGISTERED NUMBER: 02293004)

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

1. STATUTORY INFORMATION

The Technology Forge Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02293004

Registered office: 4 Wharfe Mews
Cliffe Terrace
Wetherby
West Yorkshire
LS22 6LX

The presentation currency of the financial statements is the Pound Sterling, which is the functional currency of the company, rounded to the nearest £1.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover comprises the invoiced value of goods and services supplied and licence income for access to software and hosted hardware, exclusive of Value Added Tax. Licence income is recognised over the contractual period access and help desk support is provided.

Revenue on the sale of hardware and third party software, where no significant vendor obligations exist, is recognised on despatch. Revenue on non-standard software or where significant vendor obligations exists is recognised on customer acceptance.

Revenue from the sale of software is recognised at the time the software license is granted, in accordance with agreed contract milestones such as installation at customer location. Revenues for support and maintenance services are recognised proportionately over the period that the services are provided. Payments received in advance of services are recorded in the balance sheet as deferred income.

Revenue from professional services (project management, consultancy and training) is recognised as the service is provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold property improvements - 10% on cost
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on cost

All fixed assets are initially recorded at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

THE TECHNOLOGY FORGE LIMITED (REGISTERED NUMBER: 02293004)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

2. ACCOUNTING POLICIES - continued

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Creditors
Short term creditors are measured at the transaction price.

Debtors
Short term debtors are measured at transaction price, less any impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2020 - 24 ) .

4. TANGIBLE FIXED ASSETS
Leasehold Fixtures
property and Computer
improvements fittings equipment Totals
£    £    £    £   
COST
At 1 January 2021 66,139 94,002 442,386 602,527
Additions - - 13,364 13,364
At 31 December 2021 66,139 94,002 455,750 615,891
DEPRECIATION
At 1 January 2021 59,641 88,684 432,455 580,780
Charge for year 6,498 1,330 5,633 13,461
At 31 December 2021 66,139 90,014 438,088 594,241
NET BOOK VALUE
At 31 December 2021 - 3,988 17,662 21,650
At 31 December 2020 6,498 5,318 9,931 21,747

THE TECHNOLOGY FORGE LIMITED (REGISTERED NUMBER: 02293004)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade debtors 361,993 361,138
Amounts owed by group undertakings - 752,177
Other debtors 752,177 -
Deferred tax asset - 5,452
Prepayments and accrued income 56,998 63,638
1,171,168 1,182,405

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade creditors 80,303 57,547
Social security and other taxes 232,372 233,776
VAT 191,995 185,441
Other creditors 1,765 2,480
Wages control - 1,159
Directors' current accounts 150 140
Accruals and deferred income 1,769,436 1,551,403
2,276,021 2,031,946

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.21 31.12.20
£    £   
Within one year 17,142 94,436
Between one and five years - 12,009
17,142 106,445

8. RELATED PARTY DISCLOSURES

During the year the amount due to a member of key management personnel remained unchanged at £140.

The amount due to another member of key management personnel is £10 (2020: £nil).