Registered number
06488417
Technical Support IT Limited
Filleted Accounts
31 January 2024
Technical Support IT Limited
Registered number: 06488417
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 627 836
Current assets
Debtors 4 154,113 10,787
Investments held as current assets 5 - 322,273
Cash at bank and in hand 189,169 168,688
343,282 501,748
Creditors: amounts falling due within one year 6 (2,707) (99,231)
Net current assets 340,575 402,517
Total assets less current liabilities 341,202 403,353
Provisions for liabilities (297) (297)
Net assets 340,905 403,056
Capital and reserves
Called up share capital 110 110
Profit and loss account 340,795 402,946
Shareholder's funds 340,905 403,056
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
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.
C. P. Reddin
Director
Approved by the board on 16 October 2024
Technical Support IT Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 over its expected useful life, as follows:
Plant and machinery over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Taxation
No current or deferred tax liability is recognised in the accounts due to the existence of tax losses.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023 8,572
At 31 January 2024 8,572
Depreciation
At 1 February 2023 7,736
Charge for the year 209
At 31 January 2024 7,945
Net book value
At 31 January 2024 627
At 31 January 2023 836
4 Debtors 2024 2023
£ £
Other debtors 154,113 10,787
5 Investments held as current assets 2024 2023
£ £
Fair value
Unlisted investments - 322,273
(Loss)/gain on investments included in the profit and loss account for the financial year
Unlisted investments (36,572) 33,326
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,559 3,231
Taxation and social security costs 597 3,939
Other creditors 551 92,061
2,707 99,231
7 Controlling party
The company is controlled by the member Mrs Y. Reddin.
8 Other information
Technical Support IT Limited is a private company limited by shares and incorporated in England. Its registered office is:
2 Accommodation Road
Golders Green
London
NW11 8ED
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