Registered number
09828955
Tyche Tech Ltd
Annual Report and Unaudited Accounts
For the year ended
31 October 2023
Tyche Tech Ltd
Report and accounts
Contents
Page
Accountants' report 1
Statement of financial position 2
Notes to the financial statements 3
Tyche Tech Ltd
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Tyche Tech Ltd for the period ended 31 October 2023.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Tyche Tech Ltd for the period ended 31 October 2023 which comprise of the Income Statement, Statement of Financial Position and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
icaew.com/membershandbook.
This report is made solely to the Board of Directors of Tyche Tech Ltd, as a body, in accordance with the terms of our engagement letter dated 13 June 2016. Our work has been undertaken solely to prepare for your approval the accounts of Tyche Tech Ltd and state those matters that we have agreed to state to the Board of Directors of Tyche Tech Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tyche Tech Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Tyche Tech Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Tyche Tech Ltd. You consider that Tyche Tech Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Tyche Tech Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
MAH, Chartered Accountants
2nd Floor
154 Bishopsgate
London
EC2M 4LN
23 October 2024
Tyche Tech Ltd
Registered number: 09445883
Statement of Financial Position
as at 31 October 2023
Restated
Notes 2023 2022
£ £ £ £
Fixed assets
Called up share capital not paid 2,000,000 2,000,000
Tangible assets 3 1,645 2,385
2,001,645 2,002,385
Current assets
Debtors 4 203,817 270,465
Cash at bank and in hand 1,722,190 1,867,629
1,926,007 2,138,094
Creditors: amounts falling due within one year 5 (1,566,467) (1,503,709)
Net current assets 359,540 634,385
Total assets less current liabilities 2,361,185 2,636,770
Net assets 2,361,185 2,636,770
Capital and reserves
Called up share capital 6 2,000,000 2,000,000
Profit and loss account 7 361,185 636,770
Total equity 2,361,185 2,636,770
The company is exempt from the requirements relating to preparing audited accounts in accordance with section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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.
The financial statements were authorised for issue and approved by the board on 23 October 2024 and signed on its behalf.
Yibo Lin
Director
The notes on pages 3 to 6 form part of these financial statements.
Tyche Tech Ltd
Notes to the Accounts
for the year ended 31 October 2023
1 Summary of significant accounting policies
Basis of preparation
The financial statements have been prepared in compliance with United Kingdom Accounting Standards, including Section 1A of FRS 102, "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes platform fees and commission fees earned from the rendering of market research consultancy services.

Turnover from the rendering of services is recognised by reference to the period over which the services are performed.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, 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.
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, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment over 3 years
Fixture and fittings over 3 years
Financial assets
Basic financial assets, including trade and other receivables and cash or bank balances, excluding any financing transactions, are initially recognised at transaction price and are subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Financial liabilities
Basic financial liabilities, including trade and other payables, excluding any financing transactions, are initially recognised at transaction price and are subsequently measured at amortised cost determined using the effective interest method.
1 Summary of significant accounting policies (continued)
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 material 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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.
Restated
2 Employees
2023 2022
Average number of employees during the period (including the directors)
Number Number
Average number of persons employed by the company 8 6
3 Tangible fixed assets
Plant and
machinery
Total
At cost
£
Cost or valuation
At 1 November 2022 3,941 3,941
Additions 860 860
At 31 October 2023 4,801 4,801
Depreciation
At 1 November 2022 1,556 1,556
Charge for the year 1,600 1,600
At 31 October 2023 3,156 3,156
Carrying amount
At 31 October 2023 1,645 1,645
At 31 October 2022 2,385 2,385
4 Debtors 2023 2022
£ £
Trade debtors 197,865 245,940
Prepayments and accrued income 5,952 24,525
203,817 270,465
5 Creditors: amounts falling due within one year Restated
2023 2022
£ £
Trade creditors 833,922 766,818
Corporation tax 128,085 128,085
Other taxes and social security costs 20,871 15,502
Other creditors 582,980 584,537
Accruals and deferred income 609 8,767
1,566,467 1,503,709
6 Share capital Nominal 2023 2022
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £.1 each 20,000,000 2,000,000 2,000,000
2,000,000 2,000,000
7 Profit and loss account Restated
2023 2022
£
At 1 November 636,770 (242,109)
(Loss)/profit for the financial year (275,585) 878,879
At 31 October 361,185 636,770
The comparatives for 2022 have been corrected for a prior period error relating to a £951,580 increase in sales and a corresponding decrease in trade creditors. There was also a £128,085 increase in the corporation tax charge and creditor. Retained earnings have also been updated accordingly.
8 Related party transactions
Other creditors includes a current account balance of £476,902 (2022: £480,174) due to the director, Yibo Lin. The balance is repayable on demand and relates to net expenses incurred by the director on behalf of the company.
9 Controlling party
The company is under the ultimate control of Statuswin Company Limited by virtue of its controlling shareholding in the company
10 Presentation currency
The financial statements are presented in Sterling.
11 Legal form of entity and country of incorporation
Tyche Tech Ltd is a private company limited by shares and incorporated in England. The address of the company's registered office is: Spaces, 9 Greyfriars Road, Reading, England, RG1 1NU
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