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REGISTERED NUMBER: 07899275 (England and Wales)












Unaudited Financial Statements for the Year Ended 31 January 2024

for

Techinservice Limited

Techinservice Limited (Registered number: 07899275)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


Techinservice Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: I Shchutskyi
B N F Mills





REGISTERED OFFICE: 49 Queen Victoria Street
London
EC4N 4SA





REGISTERED NUMBER: 07899275 (England and Wales)





ACCOUNTANTS: Hawksford UK Services Limited
123 Pall Mall
St. James's
London
SW1Y 5EA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Techinservice Limited

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.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 January 2024 set out on pages four to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Hawksford UK Services Limited
123 Pall Mall
St. James's
London
SW1Y 5EA


13 January 2025

Techinservice Limited (Registered number: 07899275)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes $    $   
FIXED ASSETS
Tangible assets 4 4,134 8,268
Investments 5 25,103,528 25,103,528
25,107,662 25,111,796

CURRENT ASSETS
Stocks 6 - 482,915
Debtors 7 6,629,505 5,930,398
Investments 8 10,183,362 -
Cash at bank and in hand 525,712 13,298,026
17,338,579 19,711,339
CREDITORS
Amounts falling due within one year 9 (2,309,586 ) (4,034,382 )
NET CURRENT ASSETS 15,028,993 15,676,957
TOTAL ASSETS LESS CURRENT
LIABILITIES

40,136,655

40,788,753

CAPITAL AND RESERVES
Called up share capital 1 1
Foreign Currency Translation
Reserve 10 (3,713,363 ) (3,713,363 )
Retained earnings 10 43,850,017 44,502,115
40,136,655 40,788,753

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.

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 13 January 2025 and were signed on its behalf by:



I Shchutskyi - Director


Techinservice Limited (Registered number: 07899275)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Techinservice Limited 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.

Directors have elected to change company's presentational currency from Euro to USD. The change in presentational currency is a voluntary change which is accounted for retrospectively and differences resulting from the re-translation on the opening net assets and the results for the year have been taken to the foreign currency translation reserve. Comparatives are re-presented in USD.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current 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 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern
The financial statements have been prepared on a going concern basis and at the balance sheet date the company had net current assets amounting to $40,136,655 (2023: $40,788,753 ).

The director, therefore, has a reasonable expectation that with his support as shareholder the company has adequate resources to continue in operational existence for the foreseeable future. For these reasons, he continues to adopt the going concern basis in preparing the accounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

Techinservice Limited (Registered number: 07899275)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
$   
COST
At 1 February 2023
and 31 January 2024 16,536
DEPRECIATION
At 1 February 2023 8,268
Charge for year 4,134
At 31 January 2024 12,402
NET BOOK VALUE
At 31 January 2024 4,134
At 31 January 2023 8,268

5. FIXED ASSET INVESTMENTS
Other
investments
$   
COST
At 1 February 2023
and 31 January 2024 25,103,528
NET BOOK VALUE
At 31 January 2024 25,103,528
At 31 January 2023 25,103,528

The company owns 49% of Karpaty Chemical B.V., a company registered in The Netherlands.

6. STOCKS
31.1.24 31.1.23
$    $   
Finished goods - 482,915

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
$    $   
Trade debtors 2,264,111 2,336,541
Prepayments 4,365,394 3,593,857
6,629,505 5,930,398

8. CURRENT ASSET INVESTMENTS
31.1.24 31.1.23
$    $   
Unlisted investments 10,183,362 -

Techinservice Limited (Registered number: 07899275)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
$    $   
Bank loans and overdrafts - 4,265
Trade creditors 14,920 9,208
Tax - 8,382
Loan from BF Capital 1,982,215 1,982,215
Deferred income 312,451 2,030,312
2,309,586 4,034,382

At the end of the year the company owed $1,982,214 of unpaid loan interest to BF Capital, the principal amount of $59,995,751 was repaid in 2022.

10. RESERVES
Foreign
Currency
Retained Translation
earnings Reserve Totals
$    $    $   

At 1 February 2023 44,502,115 (3,713,363 ) 40,788,752
Deficit for the year (279,284 ) (279,284 )
Dividends (372,814 ) (372,814 )
At 31 January 2024 43,850,017 (3,713,363 ) 40,136,654

11. RELATED PARTY DISCLOSURES

As at 31 January 2024, included in creditors is an amount of €398,464 owed to Boomsa Limited (2023:€398,464) and €2,690,768 owed to PJSC "Grebinkiv Machinery Plant" (2023: €2,690,768).

As at 31 January 2024, included in debtors is an amount of €593,995 owed by Boomsa Limited (2023: €593,995).

These companies are related parties by virtue of common control.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is I Shchutskyi.