Registered number
06789978
Technology Business Services Limited
Filleted Accounts
31 January 2023
Technology Business Services Limited
Registered number: 06789978
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 115,000 111,575
Current assets
Stocks 1,600 -
Debtors 4 117,208 101,964
Cash at bank and in hand 148,740 163,533
267,548 265,497
Creditors: amounts falling due within one year 5 (93,217) (78,118)
Net current assets 174,331 187,379
Total assets less current liabilities 289,331 298,954
Creditors: amounts falling due after more than one year 6 (58,960) (77,084)
Net assets 230,371 221,870
Capital and reserves
Called up share capital 1 1
Profit and loss account 230,370 221,869
Shareholders' funds 230,371 221,870
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Marcus Thilthorpe
Director
Approved by the board on 9 October 2023
Technology Business Services Limited
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 33.33 % Straight Line
Fixtures, fittings, tools and equipment 25% Reducing Balance Basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 8 5
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 February 2022 102,500 36,175 - 138,675
Additions - 780 5,790 6,570
At 31 January 2023 102,500 36,955 5,790 145,245
Depreciation
At 1 February 2022 - 27,100 - 27,100
Charge for the year - 2,783 362 3,145
At 31 January 2023 - 29,883 362 30,245
Net book value
At 31 January 2023 102,500 7,072 5,428 115,000
At 31 January 2022 102,500 9,075 - 111,575
4 Debtors 2023 2022
£ £
Trade debtors 44,852 39,225
Amounts owed by group undertakings and undertakings in which the company has a participating interest 53,356 43,739
Other debtors 19,000 19,000
117,208 101,964
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 2,680 4,653
Trade creditors 7,895 11,315
Corporation tax 17,182 11,300
Other taxes and social security costs 6,595 8,699
Other creditors 58,865 42,151
93,217 78,118
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 58,960 77,084
7 Related party transactions
Superior Services UK Limited (Company No 03550059)
Related to the company as companies controlled by the same person
Amount due from the related party 53,356 43,739
8 Other information
Technology Business Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
172 Enterprise Court
Eastways Industrial Estate
Witham
Essex
CM8 3YS
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