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REGISTERED NUMBER: 07766460 (England and Wales)















THE TECHNOLOGY RESEARCH CENTRE LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021






THE TECHNOLOGY RESEARCH CENTRE LTD (REGISTERED NUMBER: 07766460)

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










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6

Chartered Certified Accountants' Report 7

THE TECHNOLOGY RESEARCH CENTRE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTORS: L C Dingle
A D Miles





REGISTERED OFFICE: The Old Electrical Workshop
Welby
Grantham
Lincolnshire
NG32 3LT





REGISTERED NUMBER: 07766460 (England and Wales)





ACCOUNTANTS: Philip Atherton Limited
The Old Electrical Workshop
Welby
Grantham
Lincolnshire
NG32 3LT

THE TECHNOLOGY RESEARCH CENTRE LTD (REGISTERED NUMBER: 07766460)

BALANCE SHEET
31 DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,163 3,843
Investments 5 1,981 1,981
7,144 5,824

CURRENT ASSETS
Debtors 6 1,463,731 1,349,198
Cash at bank 36 198,917
1,463,767 1,548,115
CREDITORS
Amounts falling due within one year 7 580,234 501,755
NET CURRENT ASSETS 883,533 1,046,360
TOTAL ASSETS LESS CURRENT
LIABILITIES

890,677

1,052,184

CREDITORS
Amounts falling due after more than one
year

8

250,000

200,000
NET ASSETS 640,677 852,184

CAPITAL AND RESERVES
Called up share capital 1,400 1,400
Share premium 299,600 299,600
Retained earnings 339,677 551,184
SHAREHOLDERS' FUNDS 640,677 852,184

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 RESEARCH CENTRE LTD (REGISTERED NUMBER: 07766460)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 July 2022 and were signed on its behalf by:




A D Miles - Director



L C Dingle - Director


THE TECHNOLOGY RESEARCH CENTRE LTD (REGISTERED NUMBER: 07766460)

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


1. STATUTORY INFORMATION

The Technology Research Centre Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 25% on cost
Fixtures and fittings - 25% on reducing balance
Computer equipment - 50% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

THE TECHNOLOGY RESEARCH CENTRE LTD (REGISTERED NUMBER: 07766460)

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


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2020 - 19 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2021 12,871 11,095 59,433 83,399
Additions 3,000 - 1,129 4,129
Disposals (1,650 ) - - (1,650 )
At 31 December 2021 14,221 11,095 60,562 85,878
DEPRECIATION
At 1 January 2021 12,767 9,244 57,545 79,556
Charge for year 591 463 1,755 2,809
Eliminated on disposal (1,650 ) - - (1,650 )
At 31 December 2021 11,708 9,707 59,300 80,715
NET BOOK VALUE
At 31 December 2021 2,513 1,388 1,262 5,163
At 31 December 2020 104 1,851 1,888 3,843

THE TECHNOLOGY RESEARCH CENTRE LTD (REGISTERED NUMBER: 07766460)

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


5. FIXED ASSET INVESTMENTS
Shares in Interest
group in joint
undertakings venture Totals
£    £    £   
COST
At 1 January 2021
and 31 December 2021 1,905 76 1,981
NET BOOK VALUE
At 31 December 2021 1,905 76 1,981
At 31 December 2020 1,905 76 1,981

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 91,201 28,630
Amounts owed by group undertakings 745,221 645,081
Other debtors 627,309 675,487
1,463,731 1,349,198

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 19,850 -
Trade creditors 86,786 110,168
Taxation and social security 330,051 228,114
Other creditors 143,547 163,473
580,234 501,755

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Other creditors 250,000 200,000

9. SECURED DEBTS

The company has an overdraft facility of £35,000 which is secured by a fixed and floating charge over all the property or undertaking of the company given in favour of Barclays Security Trustee Ltd on 6 November 2018. However, at 31 December 2021 the company has an outstanding liability on this facility of £19,819.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
THE TECHNOLOGY RESEARCH CENTRE LTD


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Technology Research Centre Ltd for the year ended 31 December 2021 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of The Technology Research Centre Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Technology Research Centre Ltd and state those matters that we have agreed to state to the Board of Directors of The Technology Research Centre Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The Technology Research Centre Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of The Technology Research Centre Ltd. You consider that The Technology Research Centre Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The Technology Research Centre Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Philip Atherton Limited
The Old Electrical Workshop
Welby
Grantham
Lincolnshire
NG32 3LT


7 July 2022