Company Registration No. 07305887 (England and Wales)
Telyco Limited
Unaudited accounts
for the year ended 31 July 2023
Telyco Limited
Unaudited accounts
Contents
Telyco Limited
Company Information
for the year ended 31 July 2023
Director
Darren Paul Turgel
Company Number
07305887 (England and Wales)
Registered Office
103 High Street
Waltham Cross
Hertfordshire
EN8 7AN
Accountants
Heartwood Accountants Limited
103 High Street
Waltham Cross
Herts
EN87AN
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Telyco Limited for the year ended 31 July 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Telyco Limited for the year ended
31 July 2023 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Telyco Limited, as a body, in accordance with the terms of our engagement letter dated 31 July 2020. Our work has been undertaken solely to prepare for your approval the accounts of Telyco Limited and state those matters that we have agreed to state to the Board of Directors of Telyco Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Telyco Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Telyco Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Telyco Limited. You consider that Telyco Limited 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 accounts of Telyco Limited. 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 accounts.
Heartwood Accountants Limited
Chartered Accountants
103 High Street
Waltham Cross
Herts
EN87AN
17 November 2023
Telyco Limited
Statement of financial position
as at 31 July 2023
Tangible assets
33,350
11,639
Cash at bank and in hand
30,298
55,838
Creditors: amounts falling due within one year
(27,581)
(26,980)
Net current assets
2,717
28,858
Total assets less current liabilities
44,067
48,497
Creditors: amounts falling due after more than one year
(1,286)
(1,285)
Called up share capital
100
100
Profit and loss account
42,681
47,112
Shareholders' funds
42,781
47,212
For the year ending 31 July 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 director acknowledges his 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 and authorised for issue on 17 November 2023 and were signed on its behalf by
Darren Paul Turgel
Director
Company Registration No. 07305887
Telyco Limited
Notes to the Accounts
for the year ended 31 July 2023
Telyco Limited is a private company, limited by shares, registered in England and Wales, registration number 07305887. The registered office is 103 High Street, Waltham Cross, Hertfordshire, EN8 7AN.
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 represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% Straight Line
Fixtures & fittings
20% Straight Line
Computer equipment
20% Straight Line
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 August 2022
-
1,707
19,599
21,306
Additions
32,500
-
-
32,500
At 31 July 2023
32,500
1,707
19,599
53,806
At 1 August 2022
-
1,337
8,330
9,667
Charge for the year
6,500
370
3,919
10,789
At 31 July 2023
6,500
1,707
12,249
20,456
At 31 July 2023
26,000
-
7,350
33,350
At 31 July 2022
-
370
11,269
11,639
Telyco Limited
Notes to the Accounts
for the year ended 31 July 2023
5
Investments
Other investments
Valuation at 1 August 2022
8,000
Valuation at 31 July 2023
8,000
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
21,511
20,189
Loans from directors
172
-
7
Creditors: amounts falling due after more than one year
2023
2022
Taxes and social security
1,286
1,285
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Transactions with related parties
The company was under the control of D. Turgel throughout the current year. D. Turgel is personally interested in 50% of the company's issued share capital and K. Turgel is interested in a further 50% of the company's issued share capital.
10
Average number of employees
During the year the average number of employees was 2 (2022: 2).