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COMPANY REGISTRATION NUMBER: 12488059
Technical Controls Support Limited
Filleted Unaudited Financial Statements
29 February 2024
Technical Controls Support Limited
Financial Statements
Year ended 29 February 2024
Contents
Pages
Officers and professional advisers
1
Statement of financial position
2 to 3
Notes to the financial statements
4 to 6
Technical Controls Support Limited
Officers and Professional Advisers
Director Mr K Jones
- Director
Company secretary
Mrs G A Jones
Registered office
Alexandra House
123 Priestsic Road
Sutton in Ashfield
Nottinghamshire
NG17 4EA
Accountants
Gregory Priestley & Stewart
Chartered accountants
Alexandra House
123 Priestsic Road
Sutton-in-Ashfield
Nottinghamshire
NG17 4EA
Technical Controls Support Limited
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
4
500
667
Current assets
Debtors
5
1,101
16,256
Cash at bank and in hand
20
61
-------
--------
1,121
16,317
Creditors: amounts falling due within one year
6
9,322
7,995
-------
--------
Net current (liabilities)/assets
( 8,201)
8,322
-------
-------
Total assets less current liabilities
( 7,701)
8,989
Provisions
95
127
-------
-------
Net (liabilities)/assets
( 7,796)
8,862
-------
-------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 7,896)
8,762
-------
-------
Shareholders (deficit)/funds
( 7,796)
8,862
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Technical Controls Support Limited
Statement of Financial Position (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 10 September 2024 , and are signed on behalf of the board by:
Mr K Jones
Director
Company registration number: 12488059
Technical Controls Support Limited
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Alexandra House, 123 Priestsic Road, Sutton in Ashfield, Nottinghamshire, NG17 4EA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis. This may not be appropriate as the company had a balance sheet deficit of £7,796 as at 29th February 2024. The company is therefore dependent on the continued support of its director. Should this support be withdrawn and the company be unable to continue trading, adjustments would have to be made to reduce the value of the assets and their net realisable value and to provide any further liabilities which might arise.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
Office Equipment - 25% Reducing Balance
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The Company only enters into basic financial instruments 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.
Debtors and creditors
4. Tangible assets
Equipment
£
Cost
At 1 March 2023 and 29 February 2024
1,174
-------
Depreciation
At 1 March 2023
507
Charge for the year
167
-------
At 29 February 2024
674
-------
Carrying amount
At 29 February 2024
500
-------
At 28 February 2023
667
-------
5. Debtors
2024
2023
£
£
Trade debtors
4,800
Other debtors
1,101
11,456
-------
--------
1,101
16,256
-------
--------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,608
Corporation tax
125
Social security and other taxes
2,777
4,245
Other creditors
4,937
3,625
-------
-------
9,322
7,995
-------
-------
7. Directors note
At the balance sheet date, the directors were owed £4,337 (2023: £3,025) by the company.