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Company Registration No. 11652803 (England and Wales)
Techshift Limited Unaudited accounts for the year ended 31 October 2024
Techshift Limited Unaudited accounts Contents
Page
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Techshift Limited Company Information for the year ended 31 October 2024
Directors
Callum Charles Coombes James Rogers
Company Number
11652803 (England and Wales)
Registered Office
The Enterprise Centre UEA Norwich Research Park Norwich Norfolk NR47TJ England
Accountants
Ratiobox Limited 17-19 Sawmills Road Diss IP22 4GG
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Techshift Limited Statement of financial position as at 31 October 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
44,561 
50,930 
Tangible assets
1,792 
1,048 
46,353 
51,978 
Current assets
Cash at bank and in hand
111,035 
134,657 
Creditors: amounts falling due within one year
(11,243)
(16,400)
Net current assets
99,792 
118,257 
Total assets less current liabilities
146,145 
170,235 
Creditors: amounts falling due after more than one year
(50,000)
(50,000)
Net assets
96,145 
120,235 
Capital and reserves
Called up share capital
963 
963 
Share premium
237,284 
237,284 
Capital redemption reserve
53 
53 
Capital contribution reserve
7,350 
7,350 
Profit and loss account
(149,505)
(125,415)
Shareholders' funds
96,145 
120,235 
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 February 2025 and were signed on its behalf by
Callum Charles Coombes Director Company Registration No. 11652803
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Techshift Limited Notes to the Accounts for the year ended 31 October 2024
1
Statutory information
Techshift Limited is a private company, limited by shares, registered in England and Wales, registration number 11652803. The registered office is The Enterprise Centre UEA, Norwich Research Park, Norwich, Norfolk, NR47TJ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are included at cost less accumulated amortisation.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
3 Years Straight Line
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Techshift Limited Notes to the Accounts for the year ended 31 October 2024
Deferred taxation
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 accounts. 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.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 November 2023
63,668 
At 31 October 2024
63,668 
Amortisation
At 1 November 2023
12,738 
Charge for the year
6,369 
At 31 October 2024
19,107 
Net book value
At 31 October 2024
44,561 
At 31 October 2023
50,930 
5
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 November 2023
1,622 
Additions
1,358 
At 31 October 2024
2,980 
Depreciation
At 1 November 2023
574 
Charge for the year
614 
At 31 October 2024
1,188 
Net book value
At 31 October 2024
1,792 
At 31 October 2023
1,048 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
8,010 
5,255 
Trade creditors
235 
11,145 
Taxes and social security
289 
- 
Other creditors
2,709 
- 
11,243 
16,400 
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Techshift Limited Notes to the Accounts for the year ended 31 October 2024
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
50,000 
50,000 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
963,017 Ordinary shares of £0.001 each
963.01 
963.01 
9
Average number of employees
During the year the average number of employees was 5 (2023: 4).
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