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REGISTERED NUMBER: 10859207 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 July 2023

for

Techquity Limited

Techquity Limited (Registered number: 10859207)






Contents of the Financial Statements
for the Year Ended 30 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Techquity Limited

Company Information
for the Year Ended 30 July 2023







DIRECTORS: R W Bendelow
M D Burton





SECRETARY: R W Bendelow





REGISTERED OFFICE: 28-32 Albert Road
MIDDLESBROUGH
TS1 1QD





REGISTERED NUMBER: 10859207 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
& Statutory Auditors
140 Coniscliffe Road
Darlington
County Durham
DL3 7RT

Techquity Limited (Registered number: 10859207)

Balance Sheet
30 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 24,982 32,857

CURRENT ASSETS
Debtors 5 344,385 324,645
Cash at bank 114,885 111,658
459,270 436,303
CREDITORS
Amounts falling due within one year 6 342,644 266,626
NET CURRENT ASSETS 116,626 169,677
TOTAL ASSETS LESS CURRENT
LIABILITIES

141,608

202,534

CREDITORS
Amounts falling due after more than one
year

7

(135,000

)

(186,320

)

PROVISIONS FOR LIABILITIES 9 (6,037 ) (7,981 )
NET ASSETS 571 8,233

CAPITAL AND RESERVES
Called up share capital 10 102 102
Retained earnings 469 8,131
SHAREHOLDERS' FUNDS 571 8,233

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

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

Techquity Limited (Registered number: 10859207)

Balance Sheet - continued
30 July 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 1 July 2024 and were signed on its behalf by:





M D Burton - Director


Techquity Limited (Registered number: 10859207)

Notes to the Financial Statements
for the Year Ended 30 July 2023

1. STATUTORY INFORMATION

Techquity Limited 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.

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.

There were no material departures from this 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 financial statements are prepared on the going concern basis which assumes that the company will continue to trade. However, the validity of the going concern basis is dependent upon the continued support of the directors. If the company is unable to continue to trade, adjustments would be required to reduce the value of assets to their recoverable amounts, to provide for any further liabilities that might arise and to analyse both fixed assets and long term liabilities as current assets and liabilities.

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

Income recognition
Income is recognised when the conditions contained within a contract for services have been met.

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 - 15% on cost
Computer equipment - 33.33% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and impairment.

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.


Techquity Limited (Registered number: 10859207)

Notes to the Financial Statements - continued
for the Year Ended 30 July 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
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 14 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 31 July 2022 18,920 48,823 67,743
Additions 1,938 4,130 6,068
At 30 July 2023 20,858 52,953 73,811
DEPRECIATION
At 31 July 2022 7,802 27,084 34,886
Charge for year 3,026 10,917 13,943
At 30 July 2023 10,828 38,001 48,829
NET BOOK VALUE
At 30 July 2023 10,030 14,952 24,982
At 30 July 2022 11,118 21,739 32,857

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 175,301 196,612
Other debtors 1,687 31,369
Directors' current accounts 151,316 90,288
Prepayments and accrued income 16,081 6,376
344,385 324,645

Techquity Limited (Registered number: 10859207)

Notes to the Financial Statements - continued
for the Year Ended 30 July 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 45,000 50,000
Hire purchase contracts 13,048 6,390
Trade creditors 48,176 78,227
Taxation and social security 108,653 98,122
Other creditors 9,299 5,530
Directors' current accounts 114,801 24,690
Accruals and deferred income 3,667 3,667
342,644 266,626

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 135,000 175,000
Hire purchase contracts - 11,320
135,000 186,320

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 180,000 225,000
Hire purchase contracts 13,048 17,710
193,048 242,710

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 6,037 7,981

Deferred
tax
£   
Balance at 31 July 2022 7,981
Accelerated capital allowances (1,944 )
Balance at 30 July 2023 6,037

Techquity Limited (Registered number: 10859207)

Notes to the Financial Statements - continued
for the Year Ended 30 July 2023

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
45 A Ordinary £1 45 45
45 B Ordinary £1 45 45
12 C Ordinary £1 12 12
102 102

The above shares all have the following perscribed particulars:

All rights attached, each share is entitled to one vote in any circumstances, is entitled pari passu to dividend payments or any other distribution and is entitled pari passu to participate in a distribution arising from a winding up of the company.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 30 July 2023 and the period ended 30 July 2022:

2023 2022
£    £   
M D Burton
Balance outstanding at start of year 90,288 -
Amounts advanced 116,527 90,288
Amounts repaid (68,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 138,815 90,288