Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Mrs I C Dixon 19/05/2016 Mr S J Dixon 24/11/2014 28 August 2024 The principle activity of the company is information technology consultancy activites. 09324910 2024-03-31 09324910 bus:Director1 2024-03-31 09324910 bus:Director2 2024-03-31 09324910 2023-03-31 09324910 core:CurrentFinancialInstruments 2024-03-31 09324910 core:CurrentFinancialInstruments 2023-03-31 09324910 core:Non-currentFinancialInstruments 2024-03-31 09324910 core:Non-currentFinancialInstruments 2023-03-31 09324910 core:ShareCapital 2024-03-31 09324910 core:ShareCapital 2023-03-31 09324910 core:RetainedEarningsAccumulatedLosses 2024-03-31 09324910 core:RetainedEarningsAccumulatedLosses 2023-03-31 09324910 core:OfficeEquipment 2023-03-31 09324910 core:OfficeEquipment 2024-03-31 09324910 bus:OrdinaryShareClass1 2024-03-31 09324910 2023-04-01 2024-03-31 09324910 bus:FilletedAccounts 2023-04-01 2024-03-31 09324910 bus:SmallEntities 2023-04-01 2024-03-31 09324910 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09324910 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09324910 bus:Director1 2023-04-01 2024-03-31 09324910 bus:Director2 2023-04-01 2024-03-31 09324910 core:OfficeEquipment core:TopRangeValue 2023-04-01 2024-03-31 09324910 2022-04-01 2023-03-31 09324910 core:OfficeEquipment 2023-04-01 2024-03-31 09324910 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 09324910 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 09324910 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 09324910 (England and Wales)

TEKNOGEL SOLUTIONS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

TEKNOGEL SOLUTIONS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

TEKNOGEL SOLUTIONS LIMITED

BALANCE SHEET

As at 31 March 2024
TEKNOGEL SOLUTIONS LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 4,989 8,329
4,989 8,329
Current assets
Stocks 4 0 38,768
Debtors 5 2,444 33,032
Cash at bank and in hand 6 8,356
2,450 80,156
Creditors: amounts falling due within one year 6 ( 33,225) ( 60,610)
Net current (liabilities)/assets (30,775) 19,546
Total assets less current liabilities (25,786) 27,875
Creditors: amounts falling due after more than one year 7 ( 12,971) ( 22,683)
Provision for liabilities ( 1,247) ( 2,083)
Net (liabilities)/assets ( 40,004) 3,109
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account ( 40,104 ) 3,009
Total shareholders' (deficit)/funds ( 40,004) 3,109

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

Directors' responsibilities:

The financial statements of Teknogel Solutions Limited (registered number: 09324910) were approved and authorised for issue by the Board of Directors on 28 August 2024. They were signed on its behalf by:

Mr S J Dixon
Director
TEKNOGEL SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
TEKNOGEL SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Teknogel Solutions Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is:
Lowin House
Tregolls Road
Truro
TR1 2NA
United Kingdom.

The principal place of business is:
Fairview Park
St Columb Road
St Columb
Cornwall
TR9 6TN

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The Directors anticipate the company generating revenue in excess of its costs in the near future and are committed to funding the company until this arises and will ensure the company can meet its financial obligations for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 April 2023 63,591 63,591
Additions 3,220 3,220
At 31 March 2024 66,811 66,811
Accumulated depreciation
At 01 April 2023 55,262 55,262
Charge for the financial year 6,560 6,560
At 31 March 2024 61,822 61,822
Net book value
At 31 March 2024 4,989 4,989
At 31 March 2023 8,329 8,329

4. Stocks

2024 2023
£ £
Work in progress 0 38,768

5. Debtors

2024 2023
£ £
Trade debtors 0 8,335
Corporation tax 2,444 0
Other debtors 0 24,697
2,444 33,032

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 9,712 9,712
Trade creditors 662 673
Taxation and social security 3,649 47,126
Other creditors 19,202 3,099
33,225 60,610

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 12,971 22,683

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary Shares shares of £ 1.00 each 100 100

9. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
S J Dixon 0 24,697

Advances

During the year, the company made advances to Mr S J Dixon for £18,450, and received repayments of £59,477 with £nil being written off or waived.