Registration number:
Technology Resources Holdings Ltd
for the Year Ended 31 May 2024
Technology Resources Holdings Ltd
Contents
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
Technology Resources Holdings Ltd
(Registration number: 14083131)
Balance Sheet as at 31 May 2024
Note |
2024 |
2023 |
|
Fixed assets |
|||
Investments |
|
|
|
Current assets |
|||
Debtors |
|
- |
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
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 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
......................................... |
Technology Resources Holdings Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Investments |
2024 |
2023 |
|
Investments in subsidiaries |
|
|
Subsidiaries |
£ |
Cost or valuation |
|
At 1 June 2023 |
|
Provision |
|
Carrying amount |
|
At 31 May 2024 |
|
At 31 May 2023 |
|
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 |
||||
|
14 North Street
England |
|
|
|
Subsidiary undertakings |
Technology Resources Limited The principal activity of Technology Resources Limited is |
Debtors |
Note |
2024 |
2023 |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
- |
|
|
- |
Technology Resources Holdings Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
|
Due within one year |
|||
Loans and borrowings |
67,596 |
67,596 |
|
Amounts owed to associates |
- |
|
|
Other creditors |
|
|
|
|
|
Creditors: amounts falling due after more than one year
Note |
2024 |
2023 |
|
Due after one year |
|||
Loans and borrowings |
|
|
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
60 |
|
60 |
Loans and borrowings |
Non-current loans and borrowings
2024 |
2023 |
|
Other borrowings |
|
|
Current loans and borrowings
2024 |
2023 |
|
Other borrowings |
|
|
Technology Resources Holdings Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024
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.
Related party transactions |
Loans from related parties
2024 |
Subsidiary |
Key management |
Total |
At start of period |
|
|
|
Advanced |
|
- |
|
Repaid |
( |
( |
( |
At end of period |
( |
|
|
|
2023 |
Subsidiary |
Key management |
Total |
Advanced |
|
|
|
Repaid |
( |
- |
( |
At end of period |
|
|
|
|
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.