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COMPANY REGISTRATION NUMBER: 11790718
Tyent UK Ltd
Filleted Unaudited Financial Statements
29 January 2024
Tyent UK Ltd
Statement of Financial Position
29 January 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
1,940
2,425
Current assets
Stocks
20,000
14,500
Debtors
6
245,833
121,621
Cash at bank and in hand
162,733
226,557
---------
---------
428,566
362,678
Creditors: amounts falling due within one year
7
295,760
216,290
---------
---------
Net current assets
132,806
146,388
---------
---------
Total assets less current liabilities
134,746
148,813
Creditors: amounts falling due after more than one year
8
24,680
28,180
---------
---------
Net assets
110,066
120,633
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
110,065
120,632
---------
---------
Shareholders funds
110,066
120,633
---------
---------
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 January 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 .
Tyent UK Ltd
Statement of Financial Position (continued)
29 January 2024
These financial statements were approved by the board of directors and authorised for issue on 23 October 2024 , and are signed on behalf of the board by:
Mr J Constantinou
Director
Company registration number: 11790718
Tyent UK Ltd
Notes to the Financial Statements
Year ended 29 January 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 10 - 12 Lumina Way, Lumina Park, Enfield, EN11FS, England.
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 and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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.
Income tax
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.
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:
Fixtures and fittings
-
20% reducing balance
Equipment
-
20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 29 January 2023 and 29 January 2024
2,519
512
3,031
-------
----
-------
Depreciation
At 29 January 2023
504
102
606
Charge for the year
403
82
485
-------
----
-------
At 29 January 2024
907
184
1,091
-------
----
-------
Carrying amount
At 29 January 2024
1,612
328
1,940
-------
----
-------
At 28 January 2023
2,015
410
2,425
-------
----
-------
6. Debtors
2024
2023
£
£
Trade debtors
65,504
79,211
Amounts owed by group undertakings and undertakings in which the company has a participating interest
172,736
35,351
Other debtors
7,593
7,059
---------
---------
245,833
121,621
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
4,643
6,616
Trade creditors
167,536
83,441
Corporation tax
60,609
55,333
Social security and other taxes
5,767
4,922
Other creditors
57,205
65,978
---------
---------
295,760
216,290
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
4,667
8,167
Amounts owed to group undertakings and undertakings in which the company has a participating interest
20,013
20,013
--------
--------
24,680
28,180
--------
--------