Registered Number:06983175 |
For the year ended 31 March 2023
England and Wales
Unaudited Financial Statements
For the year ended 31 March 2023
Szetech Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
Szetech Limited
Statement of Financial Position
2022
2023
Property, plant and equipment |
2,348
3,132
3
2,348
3,132
Trade and other receivables |
1,376
2,889
4
11,643
Cash and cash equivalents |
6,069
8,958
13,019
Trade and other payables: amounts falling due within one |
year |
(6,573)
(5,822)
5
6,446
3,136
Net current assets
Total assets less current liabilities |
5,484
9,578
Trade and other payables: amounts falling due after more |
than one year |
(6,810)
(4,811)
6
(446)
(595)
Provisions for liabilities |
227
Net assets
2,173
1
1
226
2,172
227
2,173
Shareholders' funds
For the year ended 31 March 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 of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
Mr Kin Hung Szeto Director |
These financial statements were approved and authorised for issue by the Board on 18 December 2023 and were signed by: |
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For the year ended 31 March 2023
Szetech Limited
Statement of Financial Position Continued
The notes form part of these financial statements |
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For the year ended 31 March 2023
Szetech Limited
Notes to the Financial Statements
Statutory Information
Szetech Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number |
06983175. |
124 Dudley Road
Rowley Regis
England
B65 8PX
The presentation currency is £ sterling. |
This is the currency of the primary economic market in which the entity operates (its functional currency). All amounts |
in these financial statements have been rounded to the nearest pound unless otherwise stated. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the |
Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
modified by the revaluation of certain assets. |
Goodwill
Goodwill is amortised evenly over its estimated useful life of 10 years.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Computer Equipment
Furniture and Fittings
Government grants
Grants relating to revenue shall be recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. |
Deferred tax
Deferred tax is provided on timing differences which arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Differences between accumulated depreciation and tax allowances for the cost of a fixed asset, if and when all conditions for retaining the tax allowances have been met, are not provided for. Deferred tax is not recognised on permanent differences arising because certain types of income or expense are non-taxable or are disallowable for tax or because certain tax charges or allowances are greater or smaller than the corresponding income or expense. Deferred tax is measured at the tax rate that is expected to apply to the reversal of the related difference, using tax rates enacted or substantively enacted at the balance sheet date. Deferred tax balances are not discounted. 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. |
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For the year ended 31 March 2023
Szetech Limited
Notes to the Financial Statements Continued
2. Intangible fixed assets |
Goodwill
25,000
25,000
25,000
25,000
-
-
3. Property, plant and equipment |
19,249
8,390
10,859
10,859
8,390
19,249
Provision for depreciation and impairment |
16,117
6,905
9,212
Charge for year
784
372
412
16,901
7,277
9,624
1,235
1,113
2,348
1,647
1,485
3,132
4. Trade and other receivables |
2022
2023
130
1,327
2,759
49
1,376
2,889
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For the year ended 31 March 2023
Szetech Limited
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due within one year |
2022
2023
1,999
1,962
-
107
Taxation and social security |
2,024
2,850
1,799
1,654
5,822
6,573
6. Trade and other payables: amounts falling due after more than one year |
2022
2023
4,811
6,810
The bank loan relates to a Covid-19 Bounceback Loan which is backed by a 100% guarantee by the Government.
7. Related party transactions |
At 31 March 2023 the company owed the director £3 (2022 - £Nil) This amount is included in other creditors.
8. Average number of persons employed |
During the year the average number of employees was 0 (2022 : 2)
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