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REGISTERED NUMBER: 02822781 (England and Wales)















TECHNO TRANSFORMERS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2023






TECHNO TRANSFORMERS LIMITED (REGISTERED NUMBER: 02822781)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2023










Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


TECHNO TRANSFORMERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH APRIL 2023







DIRECTORS: Mr N J Higginbottom
Mrs L M Higginbottom



SECRETARY: Mr N J Higginbottom



REGISTERED OFFICE: 43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG



REGISTERED NUMBER: 02822781 (England and Wales)



ACCOUNTANTS: Morris Owen
Chartered Accountants
43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG



BANKERS: Nat West Bank Plc
84 Commercial Road
SWINDON
Wiltshire
SN1 5NW

TECHNO TRANSFORMERS LIMITED (REGISTERED NUMBER: 02822781)

STATEMENT OF FINANCIAL POSITION
30TH APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 261,120 272,648
261,120 272,648

CURRENT ASSETS
Stocks 220,207 204,044
Debtors 6 108,876 160,515
Cash at bank 1,791 33,775
330,874 398,334
CREDITORS
Amounts falling due within one year 7 221,104 264,098
NET CURRENT ASSETS 109,770 134,236
TOTAL ASSETS LESS CURRENT
LIABILITIES

370,890

406,884

CREDITORS
Amounts falling due after more than
one year

8

(187,098

)

(197,798

)

PROVISIONS FOR LIABILITIES (3,766 ) (4,340 )
NET ASSETS 180,026 204,746

CAPITAL AND RESERVES
Called up share capital 10 60,004 60,004
Retained earnings 11 120,022 144,742
SHAREHOLDERS' FUNDS 180,026 204,746

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2023 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.

TECHNO TRANSFORMERS LIMITED (REGISTERED NUMBER: 02822781)

STATEMENT OF FINANCIAL POSITION - continued
30TH APRIL 2023


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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10th November 2023 and were signed on its behalf by:





Mr N J Higginbottom - Director


TECHNO TRANSFORMERS LIMITED (REGISTERED NUMBER: 02822781)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2023


1. STATUTORY INFORMATION

Techno Transformers Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 02822781. The registered office address is 43-45 Devizes Road, Swindon, Wiltshire, SN1 4BG.

The presentation currency of the financial statements is the Pound Sterling (£) rounded to the nearest pound.

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.

Significant judgements and estimates
In preparing these financial statements, the directors have made the following judgements:

- Determine the period of useful economic life and any residual value of all tangible fixed assets order to write off the value of each asset over that period.

- Determine an appropriate provision for bad and doubtful debts by assessing the recoverability of all balances on a balance by balance basis.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Specialist machinery - 5% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

An amount equal to the excess of the annual depreciation charge on revalued assets over the notional historical cost depreciation charge on these assets is transferred annually from the undistributable reserve to the profit and loss reserve.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

TECHNO TRANSFORMERS LIMITED (REGISTERED NUMBER: 02822781)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Short term creditors are measured at transaction price, less any impairment. Other financial liabilities , including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 9 (2022 - 11 ) .

TECHNO TRANSFORMERS LIMITED (REGISTERED NUMBER: 02822781)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2023


4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1st May 2022
and 30th April 2023 386,797 1,800 388,597
AMORTISATION
At 1st May 2022
and 30th April 2023 386,797 1,800 388,597
NET BOOK VALUE
At 30th April 2023 - - -
At 30th April 2022 - - -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st May 2022 329,953 317,446 647,399
Additions - 2,490 2,490
At 30th April 2023 329,953 319,936 649,889
DEPRECIATION
At 1st May 2022 101,854 272,897 374,751
Charge for year 5,994 8,024 14,018
At 30th April 2023 107,848 280,921 388,769
NET BOOK VALUE
At 30th April 2023 222,105 39,015 261,120
At 30th April 2022 228,099 44,549 272,648

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 92,736 146,267
Other debtors 16,140 14,248
108,876 160,515

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 32,319 32,017
Trade creditors 124,134 183,438
Taxation and social security 19,043 30,518
Other creditors 45,608 18,125
221,104 264,098

TECHNO TRANSFORMERS LIMITED (REGISTERED NUMBER: 02822781)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 166,418 197,798
Other creditors 20,680 -
187,098 197,798

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - more than 5 years 81,225 88,975

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 121,654 127,732
Factoring account 69,253 112,772
190,907 240,504

The bank loans in existence at the year end were secured on a first legal mortgage over the freehold property known as Whitehill Lane, Wootton Bassett, Swindon, Wiltshire dated 6 March 2009.

The factoring account in existence at the year end was secured on a debenture on the bank's standard form dated 21 December 2008.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
60,004 Ordinary £1 60,004 60,004

11. RESERVES

Included within retained earnings is £70,600 (2022: £72,632). This represents the difference between the deemed cost at the date of transition to FRS 102 and the cost at initial recognition of freehold property and specialist plant and machinery. This is subsequently adjusted for any disposals, excess annual depreciation and relevant deferred tax liability.

12. POST BALANCE SHEET EVENTS

After the balance sheet date, the directors of the company decided to sell the property, which it currently trades from, in order to relocate to a smaller premises. The property is currently on the market with no formal offers.