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REGISTERED NUMBER: 07029112 (England and Wales)




































FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2023

FOR

TEKNOIT SOLUTIONS LTD

TEKNOIT SOLUTIONS LTD (REGISTERED NUMBER: 07029112)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TEKNOIT SOLUTIONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2023







DIRECTOR: R L Steeples





SECRETARY: R L Steeples





REGISTERED OFFICE: Venture House
The Tanneries
East Street
Titchfield
Hampshire
PO14 4AR





REGISTERED NUMBER: 07029112 (England and Wales)





ACCOUNTANTS: Compass Accountants Limited
Chartered Accountants
Venture House
The Tanneries
East Street
Titchfield
Hampshire
PO14 4AR

TEKNOIT SOLUTIONS LTD (REGISTERED NUMBER: 07029112)

BALANCE SHEET
30TH SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 34 51
Tangible assets 5 18,851 23,930
18,885 23,981

CURRENT ASSETS
Stocks 5,275 5,799
Debtors 6 2,498 3,880
Cash at bank and in hand 126,380 128,025
134,153 137,704
CREDITORS
Amounts falling due within one year 7 23,974 29,384
NET CURRENT ASSETS 110,179 108,320
TOTAL ASSETS LESS CURRENT
LIABILITIES

129,064

132,301

PROVISIONS FOR LIABILITIES 616 1,384
NET ASSETS 128,448 130,917

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings 127,448 129,917
SHAREHOLDERS' FUNDS 128,448 130,917

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

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

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 director and authorised for issue on 26th March 2024 and were signed by:




R L Steeples - Director


TEKNOIT SOLUTIONS LTD (REGISTERED NUMBER: 07029112)

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


1. STATUTORY INFORMATION

Teknoit Solutions Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Revenue for the provision of services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and associated costs can be reliable measured. For continuing services, revenue is recognised when the stage of completion can be reliably measured.

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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20% on cost
Computer equipment - 25% on cost

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

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 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.

TEKNOIT SOLUTIONS LTD (REGISTERED NUMBER: 07029112)

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


2. ACCOUNTING POLICIES - continued

Basic financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

The company's financial assets and liabilities consist of cash and cash equivalents, short term investments, trade and other debtors, trade and other creditor, and accrued expenses. The fair value of these items approximates their carrying value due to their short term value. Unless otherwise noted, the company is not exposed to significant interest, foreign exchange or credit risks arising from these instruments.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st October 2022
and 30th September 2023 170
AMORTISATION
At 1st October 2022 119
Charge for year 17
At 30th September 2023 136
NET BOOK VALUE
At 30th September 2023 34
At 30th September 2022 51

TEKNOIT SOLUTIONS LTD (REGISTERED NUMBER: 07029112)

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


5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1st October 2022 16,391 56,068 47,451 119,910
Additions 5,179 - 2,184 7,363
Disposals - (17,600 ) - (17,600 )
At 30th September 2023 21,570 38,468 49,635 109,673
DEPRECIATION
At 1st October 2022 11,093 45,480 39,407 95,980
Charge for year 1,582 6,589 4,271 12,442
Eliminated on disposal - (17,600 ) - (17,600 )
At 30th September 2023 12,675 34,469 43,678 90,822
NET BOOK VALUE
At 30th September 2023 8,895 3,999 5,957 18,851
At 30th September 2022 5,298 10,588 8,044 23,930

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 747 2,772
Other debtors 1,751 1,108
2,498 3,880

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 305 176
Taxation and social security 9,009 14,486
Other creditors 14,660 14,722
23,974 29,384

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1.00 1,000 1,000