Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Andrew Hookway Karen Hookway 16 January 2025 The principal activity of the company in the year under review was that of IT support and consultancy services. 02284776 2024-03-31 02284776 2023-03-31 02284776 core:CurrentFinancialInstruments 2024-03-31 02284776 core:CurrentFinancialInstruments 2023-03-31 02284776 core:Non-currentFinancialInstruments 2024-03-31 02284776 core:Non-currentFinancialInstruments 2023-03-31 02284776 core:ShareCapital 2024-03-31 02284776 core:ShareCapital 2023-03-31 02284776 core:RetainedEarningsAccumulatedLosses 2024-03-31 02284776 core:RetainedEarningsAccumulatedLosses 2023-03-31 02284776 core:Goodwill 2023-03-31 02284776 core:Goodwill 2024-03-31 02284776 core:OtherPropertyPlantEquipment 2023-03-31 02284776 core:OtherPropertyPlantEquipment 2024-03-31 02284776 2023-04-01 2024-03-31 02284776 bus:AbridgedAccounts 2023-04-01 2024-03-31 02284776 bus:SmallEntities 2023-04-01 2024-03-31 02284776 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 02284776 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 02284776 bus:Director1 2023-04-01 2024-03-31 02284776 bus:Director2 2023-04-01 2024-03-31 02284776 core:Goodwill core:TopRangeValue 2023-04-01 2024-03-31 02284776 core:OtherPropertyPlantEquipment core:BottomRangeValue 2023-04-01 2024-03-31 02284776 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-04-01 2024-03-31 02284776 2022-04-01 2023-03-31 02284776 core:Goodwill 2023-04-01 2024-03-31 02284776 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: 02284776 (England and Wales)

EXTECH LTD

Abridged Unaudited Financial Statements
For the financial year ended 31 March 2024

EXTECH LTD

Abridged Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

EXTECH LTD

COMPANY INFORMATION

For the financial year ended 31 March 2024
EXTECH LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTORS Andrew Hookway
Karen Hookway
SECRETARY Andrew Hookway
REGISTERED OFFICE Fair Orchard
Camden Road
Lingfield
RH7 6AF
England
United Kingdom
COMPANY NUMBER 02284776 (England and Wales)
ACCOUNTANT Synergee
Pluto House
6 Vale Avenue
Tunbridge Wells
TN1 1DJ
EXTECH LTD

BALANCE SHEET

As at 31 March 2024
EXTECH LTD

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 18,000 27,000
Tangible assets 4 32,144 28,632
50,144 55,632
Current assets
Stocks 482 2,138
Debtors 1,323,612 1,379,424
Cash at bank and in hand 283,940 316,657
1,608,034 1,698,219
Creditors: amounts falling due within one year ( 1,208,163) ( 1,228,909)
Net current assets 399,871 469,310
Total assets less current liabilities 450,015 524,942
Creditors: amounts falling due after more than one year ( 273,440) ( 352,608)
Net assets 176,575 172,334
Capital and reserves
Called-up share capital 2,250 2,250
Profit and loss account 174,325 170,084
Total shareholders' funds 176,575 172,334

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

Directors' responsibilities:

The financial statements of Extech Ltd (registered number: 02284776) were approved and authorised for issue by the Board of Directors on 16 January 2025. They were signed on its behalf by:

Andrew Hookway
Director
EXTECH LTD

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
EXTECH LTD

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Extech Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Fair Orchard, Camden Road, Lingfield, RH7 6AF, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either debtor or creditor in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 3 - 10 years straight line
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 18 20

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 April 2023 90,000 90,000
At 31 March 2024 90,000 90,000
Accumulated amortisation
At 01 April 2023 63,000 63,000
Charge for the financial year 9,000 9,000
At 31 March 2024 72,000 72,000
Net book value
At 31 March 2024 18,000 18,000
At 31 March 2023 27,000 27,000

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2023 126,672 126,672
Additions 12,524 12,524
At 31 March 2024 139,196 139,196
Accumulated depreciation
At 01 April 2023 98,040 98,040
Charge for the financial year 9,012 9,012
At 31 March 2024 107,052 107,052
Net book value
At 31 March 2024 32,144 32,144
At 31 March 2023 28,632 28,632

5. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2024 2023
£ £
Extech 2000 Limited 441,077 530,460
Extech Cloud Limted 257,275 257,275

At the balance sheet date the above intercompany balances existed between the company, its parent and fellow subsidiary's. These loans have been provided interest free and are repayable on demand.

6. Ultimate controlling party

Parent Company:

Extech 2000 Limited
Fair Orchard,
Camden Road,
Lingfield,
Surrey,
RH7 6AF