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Registration number: 12900903

NTUK Technology Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

NTUK Technology Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

NTUK Technology Ltd

(Registration number: 12900903)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

1

1

Current assets

 

Debtors

5

932,678

620,001

Creditors: Amounts falling due within one year

(312,677)

-

Net current assets

 

620,001

620,001

Net assets

 

620,002

620,002

Capital and reserves

 

Called up share capital

4

4

Share premium reserve

619,998

619,998

Shareholders' funds

 

620,002

620,002

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 February 2024 and signed on its behalf by:
 

.........................................
Mr N Sheldon
Director

.........................................
Mr M W McClune
Director

 

NTUK Technology Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Doncaster Business Innovation Centre
Ten Pound Walk
Doncaster
South Yorkshire
DN4 5HX

These financial statements were authorised for issue by the Board on 22 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

NTUK Technology Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

NTUK Technology Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Investments

2024
£

2023
£

Investments in subsidiaries

1

1

Subsidiaries

£

Cost or valuation

At 1 February 2023

1

Provision

Carrying amount

At 31 January 2024

1

At 31 January 2023

1

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

The Build Chain Ltd

Doncaster Business Innovation Centre, Ten Pound Walk, Doncaster, South Yorkshire, DN4 5HX

Ordinary

100%

100%

Subsidiary undertakings

The Build Chain Ltd

The principal activity of The Build Chain Ltd is software development for the construction industry.

5

Debtors

2024
£

2023
£

Other debtors

932,678

620,001

932,678

620,001

 

NTUK Technology Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

6

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Other borrowings

312,677

-

7

Related party transactions

Loans to related parties

2024

Subsidiary
£

Total
£

At start of period

619,999

619,999

Advanced

300,000

300,000

Interest transactions

12,677

12,677

At end of period

932,676

932,676

2023

Subsidiary
£

Total
£

At start of period

219,986

219,986

Advanced

400,013

400,013

At end of period

619,999

619,999