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Registration number: 01710891

Techniblinds Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 April 2024

 

Techniblinds Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Techniblinds Limited

Company Information

Director

Mr D P Bennett

Registered office

Suite 1B1 Argyle House
Northside
Joel Street
Northwood Hills
HA6 1NW

Bankers

Barclays

Accountants

Ross + Partners
Chartered Certified Accountants
Suite 1B1 Argyle House
Northside
Joel Street
Northwood Hills
HA6 1NW

 

Techniblinds Limited

(Registration number: 01710891)
Abridged Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,965

2,525

Current assets

 

Stocks

11,195

23,454

Debtors

110,090

103,804

Cash at bank and in hand

 

254,298

216,022

 

375,583

343,280

Creditors: Amounts falling due within one year

(78,108)

(69,862)

Net current assets

 

297,475

273,418

Total assets less current liabilities

 

299,440

275,943

Provisions for liabilities

(373)

(480)

Net assets

 

299,067

275,463

Capital and reserves

 

Called up share capital

3,000

3,000

Retained earnings

296,067

272,463

Shareholders' funds

 

299,067

275,463

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

Techniblinds Limited

(Registration number: 01710891)
Abridged Balance Sheet as at 30 April 2024

Approved and authorised by the director on 29 January 2025
 

.........................................
Mr D P Bennett
Director

   
     
 

Techniblinds Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

1

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 abridged 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 abridged 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Techniblinds Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

15% reducing balance

Office equipments

25% straight line

Motor vehicles

25% reducing balance

Plant and machinery

25% reducing balance

Improvements to property

10% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Stocks

stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2023 - 5).

 

Techniblinds Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

3

Intangible assets

Total
£

Cost or valuation

At 1 May 2023

1,000

At 30 April 2024

1,000

Amortisation

At 1 May 2023

1,000

At 30 April 2024

1,000

Carrying amount

At 30 April 2024

-

4

Tangible assets

Short leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 May 2023

27,239

25,955

15,823

5,943

12,895

Additions

-

-

489

-

-

At 30 April 2024

27,239

25,955

16,312

5,943

12,895

Depreciation

At 1 May 2023

27,239

25,195

15,276

5,451

12,169

Charge for the year

-

115

260

492

182

At 30 April 2024

27,239

25,310

15,536

5,943

12,351

Carrying amount

At 30 April 2024

-

645

776

-

544

At 30 April 2023

-

760

547

492

726

 

Techniblinds Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

Total
£

Cost or valuation

At 1 May 2023

87,855

Additions

489

At 30 April 2024

88,344

Depreciation

At 1 May 2023

85,330

Charge for the year

1,049

At 30 April 2024

86,379

Carrying amount

At 30 April 2024

1,965

At 30 April 2023

2,525

Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of short leasehold land and buildings.
 

5

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

3,000

3,000

3,000

3,000