Techcom Enterprise Ltd Company registration number
09457703
ANNUAL ACCOUNTS
2024
Prepared by:
MKS ACCOUNTANTS
MKS Accountants Limited
The Fold, 114 Station Road, Sidcup, Kent, DA15 7AE.
Tel: 020 7237 4725
Techcom Enterprise Ltd
Registered number: 09457703
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 26,340 42,216
Tangible assets 4 3,945 5,964
Investments 5 12 12
30,297 48,192
Current assets
Debtors 6 (6,258) 15,270
Cash at bank and in hand 58,039 1
51,781 15,271
Creditors: amounts falling due within one year 7 (55,767) (13,697)
Net current (liabilities)/assets (3,986) 1,574
Total assets less current liabilities 26,311 49,766
Creditors: amounts falling due after more than one year 8 (118,465) (49,572)
Net (liabilities)/assets (92,154) 194
Capital and reserves
Called up share capital 100 100
Profit and loss account (92,254) 94
Shareholders' funds (92,154) 194
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 members have 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.
Mr Cristian Octavian Stefan
Director
Approved by the board on 20 November 2024
Techcom Enterprise Ltd
Notes to the Accounts
for the year ended 31 March 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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Equipment, Fixtures & fittings 20% on cost
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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
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 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 4
3 Intangible fixed assets £
Web development:
Cost
At 1 April 2023 79,378
At 31 March 2024 79,378
Amortisation
At 1 April 2023 37,162
Provided during the year 15,876
At 31 March 2024 53,038
Net book value
At 31 March 2024 26,340
At 31 March 2023 42,216
Web development cost are being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 10,094
At 31 March 2024 10,094
Depreciation
At 1 April 2023 4,130
Charge for the year 2,019
At 31 March 2024 6,149
Net book value
At 31 March 2024 3,945
At 31 March 2023 5,964
5 Investments
Other
investments
£
Cost
At 1 April 2023 12
At 31 March 2024 12
6 Debtors 2024 2023
£ £
Trade debtors (9,139) 915
Other debtors 2,881 14,355
(6,258) 15,270
7 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 14,253 6,833
Trade creditors (1,655) (658)
Corporation tax (360) (360)
Other taxes and social security costs 15,980 14,986
Other creditors 27,549 (7,104)
55,767 13,697
8 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 34,315 39,396
Other creditors 84,150 10,176
118,465 49,572
9 Other information
Techcom Enterprise Ltd is a private company limited by shares and incorporated in England. Its registered office is:
The Fold
114 Station Road
Sidcup
Kent
DA15 7AE
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