Acorah Software Products - Accounts Production 15.0.600 false true 28 February 2023 1 March 2022 false 1 March 2023 28 February 2024 28 February 2024 07544903 Mrs Kelly Smith Mr Karl Smith Mrs Kelly Smith iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07544903 2023-02-28 07544903 2024-02-28 07544903 2023-03-01 2024-02-28 07544903 frs-core:CurrentFinancialInstruments 2024-02-28 07544903 frs-core:ComputerEquipment 2024-02-28 07544903 frs-core:ComputerEquipment 2023-03-01 2024-02-28 07544903 frs-core:ComputerEquipment 2023-02-28 07544903 frs-core:FurnitureFittings 2024-02-28 07544903 frs-core:FurnitureFittings 2023-03-01 2024-02-28 07544903 frs-core:FurnitureFittings 2023-02-28 07544903 frs-core:MotorVehicles 2024-02-28 07544903 frs-core:MotorVehicles 2023-03-01 2024-02-28 07544903 frs-core:MotorVehicles 2023-02-28 07544903 frs-core:ShareCapital 2024-02-28 07544903 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 07544903 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 07544903 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 07544903 frs-bus:SmallEntities 2023-03-01 2024-02-28 07544903 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 07544903 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 07544903 frs-bus:Director1 2023-03-01 2024-02-28 07544903 frs-bus:Director1 2023-02-28 07544903 frs-bus:Director1 2024-02-28 07544903 frs-bus:Director2 2023-03-01 2024-02-28 07544903 frs-bus:CompanySecretary1 2023-03-01 2024-02-28 07544903 frs-core:CurrentFinancialInstruments 5 2024-02-28 07544903 frs-countries:EnglandWales 2023-03-01 2024-02-28 07544903 2022-02-28 07544903 2023-02-28 07544903 2022-03-01 2023-02-28 07544903 frs-core:CurrentFinancialInstruments 2023-02-28 07544903 frs-core:ShareCapital 2023-02-28 07544903 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 07544903 frs-core:CurrentFinancialInstruments 5 2023-02-28
Registered number: 07544903
Tech Design Solutions Limited
Unaudited Financial Statements
For The Year Ended 28 February 2024
Aspirations Accountancy Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07544903
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 19,140 21,974
19,140 21,974
CURRENT ASSETS
Stocks 5 10,575 4,278
Debtors 6 38,990 34,029
Cash at bank and in hand 61,705 93,375
111,270 131,682
Creditors: Amounts Falling Due Within One Year 7 (7,076 ) (35,216 )
NET CURRENT ASSETS (LIABILITIES) 104,194 96,466
TOTAL ASSETS LESS CURRENT LIABILITIES 123,334 118,440
NET ASSETS 123,334 118,440
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 123,234 118,340
SHAREHOLDERS' FUNDS 123,334 118,440
Page 1
Page 2
For the year ending 28 February 2024 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Karl Smith
Director
05/09/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Tech Design Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07544903 . The registered office is The 1921 Building, East Malling Business Centre, New Road, East Malling, Kent, ME19 6BJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 25% Reducing balance
Computer Equipment 25% Reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 March 2023 45,105 2,257 9,601 56,963
Additions - - 5,174 5,174
Disposals (14,459 ) - (1,172 ) (15,631 )
As at 28 February 2024 30,646 2,257 13,603 46,506
Depreciation
As at 1 March 2023 27,160 2,016 5,813 34,989
Provided during the period 4,124 60 2,195 6,379
Disposals (13,011 ) - (991 ) (14,002 )
As at 28 February 2024 18,273 2,076 7,017 27,366
Net Book Value
As at 28 February 2024 12,373 181 6,586 19,140
As at 1 March 2023 17,945 241 3,788 21,974
5. Stocks
2024 2023
£ £
Stock 7,381 1,084
Finished goods 3,194 3,194
10,575 4,278
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 21,070 3,570
Other debtors 3,222 3,196
Corporation tax recoverable assets - 11,038
VAT 7,089 3,511
Other taxes and social security - 39
Directors' loan accounts 7,609 12,675
38,990 34,029
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,100 -
Corporation tax 1,260 -
Credit card creditor 53 -
Accruals and deferred income 2,663 35,216
7,076 35,216
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 28 February 2024
£ £ £ £ £
Mr Karl Smith 12,675 97,120 102,186 - 7,609
The above loan is unsecured, interest free and repayable on demand.
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