Company Registration No. 09387095 (England and Wales)
Tech Aluminium Systems Ltd
Unaudited accounts
for the year ended 31 January 2023
Tech Aluminium Systems Ltd
Unaudited accounts
Contents
Tech Aluminium Systems Ltd
Statement of financial position
as at 31 January 2023
Tangible assets
55,723
65,556
Cash at bank and in hand
2,834
-
Creditors: amounts falling due within one year
(197,607)
(168,003)
Net current (liabilities)/assets
(168,926)
68,646
Total assets less current liabilities
(113,203)
134,202
Creditors: amounts falling due after more than one year
(11,086)
(28,999)
Net (liabilities)/assets
(124,289)
105,203
Called up share capital
100
100
Profit and loss account
(124,389)
105,103
Shareholders' funds
(124,289)
105,203
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 4 October 2023 and were signed on its behalf by
Mr L W Douglas
Director
Company Registration No. 09387095
Tech Aluminium Systems Ltd
Notes to the Accounts
for the year ended 31 January 2023
Tech Aluminium Systems Ltd is a private company, limited by shares, registered in England and Wales, registration number 09387095. The registered office is Unit 52, Rumer Hill Road, Cannock, Staffs, WS11 0ET, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance
Computer equipment
15% reducing balance
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Tech Aluminium Systems Ltd
Notes to the Accounts
for the year ended 31 January 2023
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 February 2022
102,917
3,183
106,100
At 31 January 2023
102,917
3,183
106,100
At 1 February 2022
39,317
1,227
40,544
Charge for the year
9,540
293
9,833
At 31 January 2023
48,857
1,520
50,377
At 31 January 2023
54,060
1,663
55,723
At 31 January 2022
63,600
1,956
65,556
Amounts falling due within one year
Accrued income and prepayments
-
12,100
Other debtors
2,719
101,753
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
80,211
69,448
Obligations under finance leases and hire purchase contracts
17,950
17,950
Trade creditors
48,856
52,703
Taxes and social security
46,524
23,715
Other creditors
4,066
4,187
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
11,086
28,999
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Average number of employees
During the year the average number of employees was 4 (2022: 4).