IRIS Accounts Production v24.3.0.553 11750168 Board of Directors 1.2.23 31.1.24 31.1.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh117501682023-01-31117501682024-01-31117501682023-02-012024-01-31117501682022-01-31117501682022-02-012023-01-31117501682023-01-3111750168ns15:EnglandWales2023-02-012024-01-3111750168ns14:PoundSterling2023-02-012024-01-3111750168ns10:Director12023-02-012024-01-3111750168ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3111750168ns10:SmallEntities2023-02-012024-01-3111750168ns10:AuditExemptWithAccountantsReport2023-02-012024-01-3111750168ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3111750168ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3111750168ns10:FullAccounts2023-02-012024-01-3111750168ns10:Director22023-02-012024-01-3111750168ns10:RegisteredOffice2023-02-012024-01-3111750168ns5:CurrentFinancialInstruments2024-01-3111750168ns5:CurrentFinancialInstruments2023-01-3111750168ns5:Non-currentFinancialInstruments2024-01-3111750168ns5:Non-currentFinancialInstruments2023-01-3111750168ns5:ShareCapital2024-01-3111750168ns5:ShareCapital2023-01-3111750168ns5:RetainedEarningsAccumulatedLosses2024-01-3111750168ns5:RetainedEarningsAccumulatedLosses2023-01-3111750168ns5:PlantMachinery2023-01-3111750168ns5:PlantMachinery2023-02-012024-01-3111750168ns5:PlantMachinery2024-01-3111750168ns5:PlantMachinery2023-01-3111750168ns5:WithinOneYearns5:CurrentFinancialInstruments2024-01-3111750168ns5:WithinOneYearns5:CurrentFinancialInstruments2023-01-3111750168ns5:Non-currentFinancialInstruments2023-02-012024-01-31117501681ns10:Director12023-01-31117501681ns10:Director12022-01-31117501681ns10:Director12023-02-012024-01-31117501681ns10:Director12022-02-012023-01-31117501681ns10:Director12024-01-31117501681ns10:Director12023-01-3111750168ns10:Director222023-01-3111750168ns10:Director222022-01-3111750168ns10:Director222023-02-012024-01-3111750168ns10:Director222022-02-012023-01-3111750168ns10:Director222024-01-3111750168ns10:Director222023-01-31
REGISTERED NUMBER: 11750168 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

TECHNOLOGY4BUSINESS LTD

TECHNOLOGY4BUSINESS LTD (REGISTERED NUMBER: 11750168)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

TECHNOLOGY4BUSINESS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: N R Macdonald
P W Thompson





REGISTERED OFFICE: Avebury House
6 St Peter Street
Winchester
Hampshire
SO23 8BN





REGISTERED NUMBER: 11750168 (England and Wales)





ACCOUNTANTS: Rothmans LLP
Avebury House
St Peter Street
Winchester
Hampshire
SO23 8BN

TECHNOLOGY4BUSINESS LTD (REGISTERED NUMBER: 11750168)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,409 1,808

CURRENT ASSETS
Debtors 5 21,785 8,447
Cash at bank 14,422 8,375
36,207 16,822
CREDITORS
Amounts falling due within one year 6 77,297 49,717
NET CURRENT LIABILITIES (41,090 ) (32,895 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(38,681

)

(31,087

)

CREDITORS
Amounts falling due after more than one
year

7

(19,888

)

(24,904

)

PROVISIONS FOR LIABILITIES (458 ) (344 )
NET LIABILITIES (59,027 ) (56,335 )

CAPITAL AND RESERVES
Called up share capital 99 99
Retained earnings (59,126 ) (56,434 )
(59,027 ) (56,335 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

TECHNOLOGY4BUSINESS LTD (REGISTERED NUMBER: 11750168)

BALANCE SHEET - continued
31 JANUARY 2024


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 30 October 2024 and were signed on its behalf by:





N R Macdonald - Director


TECHNOLOGY4BUSINESS LTD (REGISTERED NUMBER: 11750168)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Technology4Business Ltd 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.

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 directors have made an assessment in preparing these financial statements as to whether the company is a going concern and have concluded that there are no material uncertainties that may cast doubt on the company's ability to continue as a going concern.

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

Turnover from contracts to provide services is recognised in the period in which the services are provided

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the reducing balance method.

Depreciation is provided on the following basis:

Computer equipment - 25% reducing balance

Fixtures & Fittings - 25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

Financial instruments
Short term debtors and creditors are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.


TECHNOLOGY4BUSINESS LTD (REGISTERED NUMBER: 11750168)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 3,253
Additions 1,078
At 31 January 2024 4,331
DEPRECIATION
At 1 February 2023 1,445
Charge for year 477
At 31 January 2024 1,922
NET BOOK VALUE
At 31 January 2024 2,409
At 31 January 2023 1,808

TECHNOLOGY4BUSINESS LTD (REGISTERED NUMBER: 11750168)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 18,990 5,798
Other debtors 2,795 2,649
21,785 8,447

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8,486 7,265
Trade creditors 22,935 9,176
Taxation and social security 10,462 5,590
Other creditors 35,414 27,686
77,297 49,717

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 19,888 24,904

The company has taken a bank loan under the Government back Bounce Back Loan Scheme. As part of this scheme, the UK Government will cover interest payments for the first 12 months to October 2021. From October 2021, the loan attracts interest at a rate of 2.5%pa and is repayable in 60 monthly instalments.

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
N R Macdonald
Balance outstanding at start of year (5,945 ) (2,615 )
Amounts advanced 2,500 2,728
Amounts repaid (9,366 ) (6,058 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (12,811 ) (5,945 )

P W Thompson
Balance outstanding at start of year (18,090 ) (15,395 )
Amounts advanced - 531
Amounts repaid - (3,226 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (18,090 ) (18,090 )

TECHNOLOGY4BUSINESS LTD (REGISTERED NUMBER: 11750168)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

This loan is provided interest free and repayable on demand.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
TECHNOLOGY4BUSINESS LTD


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Technology4Business Ltd for the year ended 31 January 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Technology4Business Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Technology4Business Ltd and state those matters that we have agreed to state to the Board of Directors of Technology4Business Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Technology4Business Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Technology4Business Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Technology4Business Ltd. You consider that Technology4Business Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Technology4Business 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 financial statements.






Rothmans LLP
Avebury House
St Peter Street
Winchester
Hampshire
SO23 8BN


30 October 2024