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TECHNISWAGE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST DECEMBER 2022






TECHNISWAGE LIMITED (REGISTERED NUMBER: 04096188)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TECHNISWAGE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2022







DIRECTOR: A J Monk





REGISTERED OFFICE: Quarry Road
Dudley Wood
Dudley
West Midlands
DY2 0ED





REGISTERED NUMBER: 04096188 (England and Wales)






TECHNISWAGE LIMITED (REGISTERED NUMBER: 04096188)

BALANCE SHEET
31ST DECEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 155,804 171,732

CURRENT ASSETS
Stocks 32,000 7,836
Debtors 5 194,115 87,677
Cash at bank 3,919 22
230,034 95,535
CREDITORS
Amounts falling due within one year 6 244,883 147,009
NET CURRENT LIABILITIES (14,849 ) (51,474 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

140,955

120,258

CREDITORS
Amounts falling due after more than one
year

7

(100,832

)

(37,848

)

PROVISIONS FOR LIABILITIES (29,603 ) (32,629 )
NET ASSETS 10,520 49,781

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 10,420 49,681
10,520 49,781

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

TECHNISWAGE LIMITED (REGISTERED NUMBER: 04096188)

BALANCE SHEET - continued
31ST DECEMBER 2022


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 Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 19th October 2023 and were signed by:





A J Monk - Director


TECHNISWAGE LIMITED (REGISTERED NUMBER: 04096188)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2022

1. STATUTORY INFORMATION

Techniswage Limited 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods and that the amount of the the revenue can be measured reliably.

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 - 10% on reducing balance
Fixtures and fittings - 25% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.

TECHNISWAGE LIMITED (REGISTERED NUMBER: 04096188)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2022

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 8 (2021 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1st January 2022 381,270 56,660 437,930
Additions 1,500 476 1,976
At 31st December 2022 382,770 57,136 439,906
DEPRECIATION
At 1st January 2022 213,891 52,307 266,198
Charge for year 16,776 1,128 17,904
At 31st December 2022 230,667 53,435 284,102
NET BOOK VALUE
At 31st December 2022 152,103 3,701 155,804
At 31st December 2021 167,379 4,353 171,732

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 129,490 74,251
Amounts owed by group undertakings 64,067 -
Taxation - 12,587
Prepayments and accrued income 558 839
194,115 87,677

TECHNISWAGE LIMITED (REGISTERED NUMBER: 04096188)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts - 2,520
Other loans 15,526 -
Hire purchase contracts 9,484 10,093
Trade creditors 96,036 59,039
Social security and other taxes 14,389 3,981
Workplace pension creditor 939 781
VAT 9,004 7,847
Invoice discounting advances 97,205 56,847
Directors' current accounts - 3,501
Accrued expenses 2,300 2,400
244,883 147,009

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Other loans 71,334 -
Hire purchase contracts 29,498 37,848
100,832 37,848

8. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Hire purchase contracts 38,982 47,941
Invoice discounting advances 256,102 56,847
295,084 104,788

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A J Monk.