Registered number
08075732
Tech Design Team (UK) Limited
Unaudited Filleted Accounts
31 December 2023
Tech Design Team (UK) Limited
Registered number: 08075732
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 532,129 539,126
Current assets
Stocks 811,680 952,705
Debtors 4 558,629 394,071
Cash at bank and in hand 399,946 512,669
1,770,255 1,859,445
Creditors: amounts falling due within one year 5 (247,518) (158,651)
Net current assets 1,522,737 1,700,794
Total assets less current liabilities 2,054,866 2,239,920
Creditors: amounts falling due after more than one year 6 (1,000,000) (1,438,008)
Provisions for liabilities (130,051) -
Net assets 924,815 801,912
Capital and reserves
Called up share capital 201,000 201,000
Profit and loss account 723,815 600,912
Shareholders' funds 924,815 801,912
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 members have 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.
Rutian Liao
Director
Approved by the board on 13 September 2024
Tech Design Team (UK) Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 including section 1A, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
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 and buildings, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Fixtures, fittings, tools and equipment 8% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), 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.
1 Accounting policies continued
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 5
3 Tangible fixed assets
Land and buildings Plant and machinery etc Fixtures and fittings Total
£ £ £ £
Cost
At 1 January 2023 457,902 6,470 131,385 595,757
At 31 December 2023 457,902 6,470 131,385 595,757
Depreciation
At 1 January 2023 - 2,334 54,297 56,631
Charge for the year - 828 6,169 6,997
At 31 December 2023 - 3,162 60,466 63,628
Net book value
At 31 December 2023 457,902 3,308 70,919 532,129
At 31 December 2022 457,902 4,136 77,088 539,126
4 Debtors 2023 2022
£ £
Trade debtors 407,114 352,167
Other debtors 151,515 41,904
558,629 394,071
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 18,032
Trade creditors 151,572 69,920
Corporation tax 79,725 60,780
Other taxes and social security costs 7,775 6,170
Other creditors 8,446 3,749
247,518 158,651
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans - 138,008
Other creditors 1,000,000 1,300,000
1,000,000 1,438,008
7 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years - 47,848
Secured bank loans - 156,040
Fixed charge over Unit 2 Birchwood Way, Ashwood Business Park, Ashington. NE63 0XD
8 Other information
Tech Design Team (UK) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 2, Birchwood Way
Ashwood Business Park
Ashington
NE63 0XD
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