Registered number
10697255
Tech City Ventures Ltd
Unaudited Filleted Accounts
31 March 2024
Tech City Ventures Ltd
Registered number: 10697255
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 488 1,021
Investments 4 12,309 23,127
12,797 24,148
Current assets
Debtors 5 1,112,502 1,062,660
Cash at bank and in hand 747 22,007
1,113,249 1,084,667
Creditors: amounts falling due within one year 6 (1,006,820) (970,605)
Net current assets 106,429 114,062
Total assets less current liabilities 119,226 138,210
Creditors: amounts falling due after more than one year 7 (25,458) (22,500)
Provisions for liabilities (122) (247)
Net assets 93,646 115,463
Capital and reserves
Called up share capital 1 1
Profit and loss account 93,645 115,462
Shareholder's funds 93,646 115,463
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G N Johnston
Director
Approved by the board on 11 September 2024
Tech City Ventures Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings and equipment over 3 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Fixtures, fittings and equipment
£
Cost
At 1 April 2023 3,816
Disposals (1,633)
At 31 March 2024 2,183
Depreciation
At 1 April 2023 2,795
Charge for the year 533
On disposals (1,633)
At 31 March 2024 1,695
Net book value
At 31 March 2024 488
At 31 March 2023 1,021
4 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 April 2023 22,994 133 23,127
Disposals (10,818) - (10,818)
At 31 March 2024 12,176 133 12,309
5 Debtors 2024 2023
£ £
Trade debtors 847,041 795,959
Amounts owed by group undertakings and undertakings in which the company has a participating interest 217,045 202,975
Other debtors 48,416 63,726
1,112,502 1,062,660
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 11,289 10,000
Trade creditors 14,774 13,923
Amounts owed to group undertakings and undertakings in which the company has a participating interest 348,225 259,010
Taxation and social security costs 206,477 275,312
Other creditors 426,055 412,360
1,006,820 970,605
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 25,458 22,500
8 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 4,987 -
9 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
G N Johnston
2.25% loan - 25,047 - 25,047
- 25,047 - 25,047
# Related party transactions
The company received short-term funding from SwiftScale Ltd, a company in which the director also serves as a director. Included within creditors is an amount of £29,684 (2023 - £29,684) due to SwiftScale Ltd.

Included in debtors is an amount of £137,543 (2023 - £137,543) due from IncuBus Ventures Ltd, a company in which the director also serves as a director. The company received short-term funding from IncuBus Ventures Ltd and included within creditors is an amount of £256,003 due to (2023 - £256,003) IncuBus Ventures Ltd.

The company provided services to SwiftScale Holdings Ltd to the value of £57,289 (2023 - £61,047), a company in which the director also serves as a director. Included in debtors in an amount of £173,869 (2023 - £152,227) due from SwiftScale Holdings Ltd. The company received short-term funding from SwiftScale Holdings Ltd and included within creditors is an amount of £130,316 (2023 - £110,789) due to SwiftScale Holdings Ltd.

The company provided services to SwiftDeals Ltd to the value of £1,723 (2023 - £1,920), a company in which the director also serves as a director. Included in debtors in an amount of £1,143 (2023 - £466) due from SwiftDeals Ltd. The company received short-term finding from SwiftDeals Ltd and included within creditors is an amount of £nil (2023 - £1,616) due to SwiftDeals Ltd.

The company provided services to SwiftRaise Ltd to the value of £2,529 (2023 - £2,266), a company in which the director also serves as a director. Included in debtors in an amount of £4,818 (2023 - £2.284) due from SwiftDeals Ltd. The company provided short-term finding to SwiftRaise Ltd and included within debtors is an amount of £13,356 (2023 - £14,856) due from SwiftRaise Ltd.

The company provided services to Incube Space Ltd to the value of £15,212 (2023 - £21,127), a company in which the director also serves as a director. Included in debtors in an amount of £6,243 (2023 - £32,896) due from Incube Space Ltd. The company provided short-term finding to Incube Space Ltd and included within debtors is an amount of £9,919 (2023 - £9,966) due from Incube Space Ltd.
11 Controlling party
The director is the controlling party by virtue of his majority shareholding.
# Other information
Tech City Ventures Ltd is a private company limited by shares and incorporated in England. Its registered office is:
3 Totman Crescent
Rayleigh
Essex
SS6 7UY
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