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Registration number: 14083131

Technology Resources Holdings Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Technology Resources Holdings Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Technology Resources Holdings Ltd

(Registration number: 14083131)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

515,065

515,065

Current assets

 

Debtors

7,802

-

Cash at bank and in hand

 

12,446

12,688

 

20,248

12,688

Creditors: Amounts falling due within one year

(67,889)

(75,903)

Net current liabilities

 

(47,641)

(63,215)

Total assets less current liabilities

 

467,424

451,850

Creditors: Amounts falling due after more than one year

(290,299)

(384,896)

Net assets

 

177,125

66,954

Capital and reserves

 

Called up share capital

7

60

60

Retained earnings

177,065

66,894

Shareholders' funds

 

177,125

66,954

 

Technology Resources Holdings Ltd

(Registration number: 14083131)
Balance Sheet as at 31 May 2024

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 December 2024 and signed on its behalf by:
 

.........................................
Miss Melissa Watters
Director

 

Technology Resources Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
14 North Street
Leatherhead
Surrey
KT22 7AW
United Kingdom

These financial statements were authorised for issue by the Board on 3 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors have reviewed the company's plans for a period of 12 months from the date of the signing of the accounts and are satisfied that they can continue to adopt the going concern basis in preparing these financial statements.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicalbe, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Technology Resources Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Investments

2024
£

2023
£

Investments in subsidiaries

515,065

515,065

Subsidiaries

£

Cost or valuation

At 1 June 2023

515,065

Provision

Carrying amount

At 31 May 2024

515,065

At 31 May 2023

515,065

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

 

Technology Resources Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Technology Resources Limited

14 North Street
Leatherhead, Surrey
KT22 7AW

England

Ordinary shares

100%

100%

Subsidiary undertakings

Technology Resources Limited

The principal activity of Technology Resources Limited is retail and repair of computers and peripheral equipment..

5

Debtors

Note

2024
£

2023
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

10

7,802

-

 

7,802

-

 

Technology Resources Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

67,596

67,596

Amounts owed to associates

10

-

7,951

Other creditors

 

293

356

 

67,889

75,903

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

290,299

384,896

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

60

60

60

60

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

290,299

384,896

Current loans and borrowings

2024
£

2023
£

Other borrowings

67,596

67,596

 

Technology Resources Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

9

Financial commitments, guarantees and contingencies

Amounts disclosed in the balance sheet

Included in the balance sheet are financial commitments of £281,655 (2023 - £349,252). There is a fixed charge in respect of the outstanding deferred consideration due on the acquisition of the shares in Technology Resources Limiited. The fixed charge is secured against the issued share capital of Technology Resources Limited.

10

Related party transactions

Loans from related parties

2024

Subsidiary
£

Key management
£

Total
£

At start of period

7,951

103,240

111,191

Advanced

106,638

-

106,638

Repaid

(122,391)

(27,000)

(149,391)

At end of period

(7,802)

76,240

68,438

2023

Subsidiary
£

Key management
£

Total
£

Advanced

90,141

103,240

193,381

Repaid

(82,190)

-

(82,190)

At end of period

7,951

103,240

111,191

Terms of loans from related parties

The loans advanced/repaid by/to subsidiary and key management arise in the ordinary course of business. The balance is non interest bearing and repayable on demand.