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REGISTERED NUMBER: 10461978 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

TAINA Technology Limited

TAINA Technology Limited (Registered number: 10461978)

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


TAINA Technology Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Ms M Scott
S Park
Dr J H Lee





SECRETARY: Ms E West





REGISTERED OFFICE: 77 Marsh Wall
London
E14 9SH





REGISTERED NUMBER: 10461978 (England and Wales)





ACCOUNTANTS: Wilson Partners Limited
1st Floor
One Suffolk Way
Sevenoaks
Kent
TN13 1YL

TAINA Technology Limited (Registered number: 10461978)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,904 -
Tangible assets 5 28,886 23,078
Investments 6 17,839 17,839
49,629 40,917

CURRENT ASSETS
Debtors 7 1,152,252 977,614
Cash at bank 3,732,389 4,890,534
4,884,641 5,868,148
CREDITORS
Amounts falling due within one year 8 1,439,612 1,032,676
NET CURRENT ASSETS 3,445,029 4,835,472
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,494,658

4,876,389

CAPITAL AND RESERVES
Called up share capital 9 237 224
Share premium 10 14,607,993 12,835,294
Share option reserve 10 5 5
Other reserves 10 44,904 44,904
Retained earnings 10 (11,158,481 ) (8,004,038 )
SHAREHOLDERS' FUNDS 3,494,658 4,876,389

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:



Ms M Scott - Director


TAINA Technology Limited (Registered number: 10461978)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

TAINA Technology Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 accounts are prepared on a going concern basis as in the opinion of the directors the company has sufficient finance available to it to meet its obligations as they fall due for the foreseeable future, that is at least 12 months from the date of approval of the accounts.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
In the application of the company's accounting policies the director is required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The company does not make significant estimates and assumptions concerning the future.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

TAINA Technology Limited (Registered number: 10461978)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the Balance Sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the Balance Sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2022 - 28 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 2,904
At 31 December 2023 2,904
NET BOOK VALUE
At 31 December 2023 2,904

TAINA Technology Limited (Registered number: 10461978)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2023 64,275
Additions 19,144
At 31 December 2023 83,419
DEPRECIATION
At 1 January 2023 41,197
Charge for year 13,336
At 31 December 2023 54,533
NET BOOK VALUE
At 31 December 2023 28,886
At 31 December 2022 23,078

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 17,839
NET BOOK VALUE
At 31 December 2023 17,839
At 31 December 2022 17,839

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 293,439 181,794
Amounts owed by group undertakings 135,178 230,408
Other debtors 723,635 565,412
1,152,252 977,614

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 177,450 83,091
Amounts owed to group undertakings 65,751 -
Taxation and social security 110,424 116,253
Other creditors 1,085,987 833,332
1,439,612 1,032,676

TAINA Technology Limited (Registered number: 10461978)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


9. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
1,491,285 Share capital 1 149 149 149
884,565 Share capital 2 88 88 75
237 224

10. RESERVES

The share option reserve of £5 remains unchanged, as due to minimal movements in the share option scheme in the year and the immaterial nature of the valuation, it was deemed no economic benefit would arise in recalculating the share options in the current year.

11. ULTIMATE CONTROLLING PARTY

Taina Technology (Americas) Inc are owed 100% by Taina UK. Taina Technology (Switzerland) GmbH are owned 100% by Taina UK.