IRIS Accounts Production v24.2.0.383 07969986 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh079699862022-12-31079699862023-12-31079699862023-01-012023-12-31079699862021-12-31079699862022-01-012022-12-31079699862022-12-3107969986ns15:EnglandWales2023-01-012023-12-3107969986ns14:PoundSterling2023-01-012023-12-3107969986ns10:Director12023-01-012023-12-3107969986ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3107969986ns10:SmallEntities2023-01-012023-12-3107969986ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3107969986ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3107969986ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3107969986ns10:FullAccounts2023-01-012023-12-3107969986ns10:Director32023-01-012023-12-3107969986ns10:CompanySecretary12023-01-012023-12-3107969986ns10:RegisteredOffice2023-01-012023-12-3107969986ns5:CurrentFinancialInstruments2023-12-3107969986ns5:CurrentFinancialInstruments2022-12-3107969986ns5:Non-currentFinancialInstruments2023-12-3107969986ns5:Non-currentFinancialInstruments2022-12-3107969986ns5:ShareCapital2023-12-3107969986ns5:ShareCapital2022-12-3107969986ns5:RetainedEarningsAccumulatedLosses2023-12-3107969986ns5:RetainedEarningsAccumulatedLosses2022-12-3107969986ns5:PlantMachinery2022-12-3107969986ns5:MotorVehicles2022-12-3107969986ns5:PlantMachinery2023-01-012023-12-3107969986ns5:MotorVehicles2023-01-012023-12-3107969986ns5:PlantMachinery2023-12-3107969986ns5:MotorVehicles2023-12-3107969986ns5:PlantMachinery2022-12-3107969986ns5:MotorVehicles2022-12-3107969986ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3107969986ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31
REGISTERED NUMBER: 07969986 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

3R TECH LIMITED

3R TECH LIMITED (REGISTERED NUMBER: 07969986)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


3R TECH LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: Mr M R Abram
Mr S Suri





SECRETARY: Mr M R Abram





REGISTERED OFFICE: Sital House
3-6 Cattle Market
Loughborough
Leicestershire
LE11 3DL





REGISTERED NUMBER: 07969986 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
Unit 2 Charnwood Edge Business Park
Syston Road, Leicester
LE7 4UZ
Magma Audit LLP is part
Of the Dains Group

3R TECH LIMITED (REGISTERED NUMBER: 07969986)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 86,215 90,372

CURRENT ASSETS
Stocks and work in progress 68,231 88,826
Debtors 5 203,961 325,346
Cash at bank 13,653 24,150
285,845 438,322
CREDITORS
Amounts falling due within one year 6 (183,440 ) (362,024 )
NET CURRENT ASSETS 102,405 76,298
TOTAL ASSETS LESS CURRENT
LIABILITIES

188,620

166,670

CREDITORS
Amounts falling due after more than one
year

7

(26,290

)

(32,140

)

PROVISIONS FOR LIABILITIES (15,722 ) (15,722 )
NET ASSETS 146,608 118,808

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 146,308 118,508
146,608 118,808

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:




Mr S Suri - Director


3R TECH LIMITED (REGISTERED NUMBER: 07969986)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023


1. STATUTORY INFORMATION

3R Tech Limited is a private limited company, limited by shares, incorporated in England and Wales. Its registered office address is Sital House, 3-6 Cattle Market, Loughborough, Leicestershire, LE11 3DL and the registered number is 07969986.

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Revenue is recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts, the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.

Tangible fixed assets
Tangible fixed assets are measured at cost and subsequently measured at cost or revaluation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant & machinery10% straight line
Motor vehicles10% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks and work in progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3R TECH LIMITED (REGISTERED NUMBER: 07969986)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023


2. ACCOUNTING POLICIES - continued
Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 13 ) .

3R TECH LIMITED (REGISTERED NUMBER: 07969986)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023


4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2023 17,979 102,957 120,936
Additions 7,964 - 7,964
At 31 December 2023 25,943 102,957 128,900
DEPRECIATION
At 1 January 2023 10,507 20,057 30,564
Charge for year 1,814 10,307 12,121
At 31 December 2023 12,321 30,364 42,685
NET BOOK VALUE
At 31 December 2023 13,622 72,593 86,215
At 31 December 2022 7,472 82,900 90,372

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 177,027 226,706
Other debtors 15,940 6,437
Amounts owed by associated companies - 66,077
Prepayments and accrued income 10,994 26,126
203,961 325,346

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 6,031 6,847
Trade creditors 87,879 124,309
Tax 9,409 2,923
Social security and other taxes 11,510 10,319
VAT 21,633 20,420
Other creditors 3,435 1,856
Amounts owed to associated
companies 72 183,213
Accruals and deferred income 43,471 12,137
183,440 362,024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 26,290 32,140

3R TECH LIMITED (REGISTERED NUMBER: 07969986)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023


8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 32,321 38,987

Hire purchase contracts are secured upon the assets to which they relate.