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REGISTERED NUMBER: 08292693 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

THE TECH ALCHEMIST LIMITED

THE TECH ALCHEMIST LIMITED (REGISTERED NUMBER: 08292693)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


THE TECH ALCHEMIST LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: M Montemagno





REGISTERED OFFICE: The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ





REGISTERED NUMBER: 08292693 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

THE TECH ALCHEMIST LIMITED (REGISTERED NUMBER: 08292693)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 1,225
Investments 5 429,657 225,278
429,657 226,503

CURRENT ASSETS
Debtors 6 780,677 1,001,987
Cash at bank 1,378,303 256,323
2,158,980 1,258,310
CREDITORS
Amounts falling due within one year 7 568,336 183,878
NET CURRENT ASSETS 1,590,644 1,074,432
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,020,301

1,300,935

CREDITORS
Amounts falling due after more than one
year

8

(14,167

)

(24,167

)

PROVISIONS FOR LIABILITIES - (306 )
NET ASSETS 2,006,134 1,276,462

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 2,006,124 1,276,452
SHAREHOLDERS' FUNDS 2,006,134 1,276,462

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 August 2024 and were signed by:





M Montemagno - Director


THE TECH ALCHEMIST LIMITED (REGISTERED NUMBER: 08292693)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

The Tech Alchemist 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents sales of services net of VAT. Turnover is recognised at the point the customer is entitled to consideration.

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

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 2 (2023 - 2 ) .

THE TECH ALCHEMIST LIMITED (REGISTERED NUMBER: 08292693)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 1,290 4,695 52,371 58,356
DEPRECIATION
At 1 April 2023 1,290 3,982 51,859 57,131
Charge for year - 713 512 1,225
At 31 March 2024 1,290 4,695 52,371 58,356
NET BOOK VALUE
At 31 March 2024 - - - -
At 31 March 2023 - 713 512 1,225

5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 8,952 216,326 225,278
Additions - 1 1
Revaluations - 204,378 204,378
At 31 March 2024 8,952 420,705 429,657
NET BOOK VALUE
At 31 March 2024 8,952 420,705 429,657
At 31 March 2023 8,952 216,326 225,278

Cost or valuation at 31 March 2024 is represented by:

Shares in
group Other
undertakings investments Totals
£    £    £   
Valuation in 2024 - 204,379 204,379
Cost 8,952 216,326 225,278
8,952 420,705 429,657

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 26,282 116,458
Amounts owed by group undertakings 723,810 737,664
Other debtors 29,641 807
Directors' loan accounts - 146,375
Prepayments 944 683
780,677 1,001,987

THE TECH ALCHEMIST LIMITED (REGISTERED NUMBER: 08292693)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 74,259 12,127
Amounts owed to group undertakings 3,826 4,753
Tax 275,951 110,553
Social security and other taxes 3,309 3,188
VAT 3,459 10,489
Other creditors - 1,956
Directors' loan accounts 560 -
Accrued expenses 196,972 30,812
568,336 183,878

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 4,167 14,167
14,167 24,167

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
M Montemagno
Balance outstanding at start of year 146,375 107,670
Amounts advanced 10,146 40,212
Amounts repaid (157,081 ) (1,507 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (560 ) 146,375

This balance represented the maximum amount outstanding during the period and the loan is interest free and repayable on demand.

THE TECH ALCHEMIST LIMITED (REGISTERED NUMBER: 08292693)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

10. RELATED PARTY DISCLOSURES

Competenze Limited

A 100% subsidiary company of Rize Corp Limited, the parent company.

During the year, the company repaid the loan to the company. As at the balance sheet date the company was owed £Nil (2023: £13,854).

Illumination Ventures Limited

A 100% subsidiary company of Rize Corp Ltd, the parent company.

During the year, The Tech Alchemist Limited maintained loan to Illumination Ventures Limited . As at the balance sheet date, the company was owed £723,810 (2023: £723,810).

Rize Corp Ltd

During the year, The Tech Alchemist Limited taken loan from Rize Corp Ltd. As at the balance sheet date, the company was owed £1,826 (2023: £4,753).

The Good PR Agency Ltd

A 100% subsidiary company of Rize Corp Ltd, the parent company

During the year, The Tech Alchemist Limited taken loan from The Good PR Agency Ltd. As at the balance sheet date, the company was owed £2,000 (2023: £Nil).

All transactions were undertaken on a commercial arms length basis and any outstanding amounts are interest free and repayable on demand.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M Montemagno & Ms A Lorenzani.

This was by virtue of their effective control of the parent company Rize Corp Ltd.