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REGISTERED NUMBER: 01393990















TECH LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






TECH LIMITED (REGISTERED NUMBER: 01393990)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TECH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mrs K R Bridges
J R Bridges
K Hotine





SECRETARY: Mrs P R Bridges





REGISTERED OFFICE: 424 Margate Road
Ramsgate
Kent
CT12 6SJ





REGISTERED NUMBER: 01393990





ACCOUNTANTS: Spurling Cannon
King Arthur’s Court
Maidstone Road
Charing
Kent
TN27 0JS

TECH LIMITED (REGISTERED NUMBER: 01393990)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 59,317 50,335

CURRENT ASSETS
Stocks 780 780
Debtors 5 181,402 182,849
Cash at bank and in hand 291,389 212,142
473,571 395,771
CREDITORS
Amounts falling due within one year 6 115,065 95,300
NET CURRENT ASSETS 358,506 300,471
TOTAL ASSETS LESS CURRENT
LIABILITIES

417,823

350,806

PROVISIONS FOR LIABILITIES 9,706 9,706
NET ASSETS 408,117 341,100

CAPITAL AND RESERVES
Called up share capital 34,125 34,125
Share premium 1,187 1,187
Capital redemption reserve 301 301
Retained earnings 372,504 305,487
SHAREHOLDERS' FUNDS 408,117 341,100

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.

TECH LIMITED (REGISTERED NUMBER: 01393990)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 July 2024 and were signed on its behalf by:





Mrs K R Bridges - Director


TECH LIMITED (REGISTERED NUMBER: 01393990)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Tech Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixture & Fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

TECH LIMITED (REGISTERED NUMBER: 01393990)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Short Plant and Fixture &
leasehold machinery Fittings
£    £    £   
COST
At 1 January 2023 19,681 22,700 58,870
Additions - - -
At 31 December 2023 19,681 22,700 58,870
DEPRECIATION
At 1 January 2023 19,681 14,998 50,004
Charge for year - 1,155 1,330
At 31 December 2023 19,681 16,153 51,334
NET BOOK VALUE
At 31 December 2023 - 6,547 7,536
At 31 December 2022 - 7,702 8,866

TECH LIMITED (REGISTERED NUMBER: 01393990)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 152,045 6,979 260,275
Additions 27,000 - 27,000
At 31 December 2023 179,045 6,979 287,275
DEPRECIATION
At 1 January 2023 118,974 6,283 209,940
Charge for year 15,017 516 18,018
At 31 December 2023 133,991 6,799 227,958
NET BOOK VALUE
At 31 December 2023 45,054 180 59,317
At 31 December 2022 33,071 696 50,335

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023
and 31 December 2023 31,150
DEPRECIATION
At 1 January 2023 22,556
Charge for year 2,148
At 31 December 2023 24,704
NET BOOK VALUE
At 31 December 2023 6,446
At 31 December 2022 8,594

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 160,589 157,283
Sundry debtors 13,853 13,853
Staff loans 6,960 7,534
Directors' current accounts - 4,179
181,402 182,849

TECH LIMITED (REGISTERED NUMBER: 01393990)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 19,333 27,333
Hire purchase contracts - 1,269
Trade creditors 19,588 7,795
Corporation Tax 18,302 -
Social security and other taxes 6,295 5,819
VAT 47,441 44,980
Directors' current accounts 1,006 5,004
Accrued expenses 3,100 3,100
115,065 95,300