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REGISTERED NUMBER: 04391518 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 JANUARY 2024

FOR

TECHNICAL SOLUTIONS 24 SEVEN LIMITED

TECHNICAL SOLUTIONS 24 SEVEN LIMITED (REGISTERED NUMBER: 04391518)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JANUARY 2024










Page

Statement of Financial Position 1 to 2

Notes to the Financial Statements 3 to 8


TECHNICAL SOLUTIONS 24 SEVEN LIMITED (REGISTERED NUMBER: 04391518)

STATEMENT OF FINANCIAL POSITION
29 JANUARY 2024

29.1.24 29.1.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 365,299 441,784
Property, plant and equipment 5 14,508 27,035
379,807 468,819

CURRENT ASSETS
Inventories 121,000 50,000
Debtors 6 509,326 528,555
Cash at bank 38,076 37,904
668,402 616,459
CREDITORS
Amounts falling due within one year 7 (928,024 ) (864,325 )
NET CURRENT LIABILITIES (259,622 ) (247,866 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

120,185

220,953

CREDITORS
Amounts falling due after more than one
year

8

(118,396

)

(195,389

)
NET ASSETS 1,789 25,564

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,689 25,464
1,789 25,564

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

TECHNICAL SOLUTIONS 24 SEVEN LIMITED (REGISTERED NUMBER: 04391518)

STATEMENT OF FINANCIAL POSITION - continued
29 JANUARY 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 February 2025 and were signed by:





A Stephen - Director


TECHNICAL SOLUTIONS 24 SEVEN LIMITED (REGISTERED NUMBER: 04391518)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JANUARY 2024


1. STATUTORY INFORMATION

Technical Solutions 24 Seven Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04391518

Registered office: C/o DPC
Stone House, Stone Road Business Park
Stone Road
Stoke on Trent
Staffordshire
ST4 6SR

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

(i) Estimated useful lives and residual values of fixed assets

Depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take into account estimated useful lives used by other companies operating in the sector and actual asset lives and residual values, as evidenced by disposals during the current and prior accounting periods.

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

Revenue from the rendering of services is recognised by reference to the stage of completion at the balance sheet date; the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

INTANGIBLE ASSETS
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date.

TECHNICAL SOLUTIONS 24 SEVEN LIMITED (REGISTERED NUMBER: 04391518)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 JANUARY 2024


2. ACCOUNTING POLICIES - continued

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 - 25% reducing balance from purchase date
Fixtures and fittings - 15% reducing balance
Motor vehicles - 20% on cost

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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

FINANCIAL INSTRUMENTS
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.


TECHNICAL SOLUTIONS 24 SEVEN LIMITED (REGISTERED NUMBER: 04391518)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 JANUARY 2024


2. ACCOUNTING POLICIES - continued
TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred 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 statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

RESEARCH AND DEVELOPMENT
Expenditure on research and development is written off in the year of expenditure through the profit and loss account in those circumstances where the outcome of those projects are assessed as not being reasonably certain as regards viability and technical feasibility.

Development expenditure is written off in the year of expenditure, except in the following circumstances when it is deferred to future periods:

(a) there is a clearly defined project, and
(b) the related expenditure is separately identifiable, and
(c) the outcome of such project has been assessed with reasonable certainty as to:
(i) its technical feasibility, and
(ii) its ultimate commercial viability considered in the light of such factors as likely market conditions (including competing products), public opinion, consumer and environmental legislation, and
(d) the aggregate of the deferred development costs, any further developments costs, and related production, selling and administration costs is reasonably expected to be exceeded by related future sales or other revenue, and
(e) adequate resources exist, or are reasonably expected to be available, to enable the project to be completed and to provide any consequential increases in working capital.

Research and development costs that are deferred to future periods are amortised straight line over the estimated period of sale for which these units are expected to be sold as. The amortisation commences with the commercial production or application of the product, service, process or system.

Deferred development expenditure for each project is reviewed at the end of each accounting period and where the circumstances which have justified the deferral of the expenditure no longer apply, or are considered doubtful, the expenditure, to the extent to which it is considered to be irrecoverable, is written off immediately project by project.

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.

TECHNICAL SOLUTIONS 24 SEVEN LIMITED (REGISTERED NUMBER: 04391518)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 JANUARY 2024


2. ACCOUNTING POLICIES - continued

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

PROVISIONS
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Development
costs
£   
COST
At 30 January 2023
and 29 January 2024 887,850
AMORTISATION
At 30 January 2023 446,066
Amortisation for year 76,485
At 29 January 2024 522,551
NET BOOK VALUE
At 29 January 2024 365,299
At 29 January 2023 441,784

TECHNICAL SOLUTIONS 24 SEVEN LIMITED (REGISTERED NUMBER: 04391518)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 JANUARY 2024


5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 30 January 2023
and 29 January 2024 15,320 16,492 64,486 96,298
DEPRECIATION
At 30 January 2023 10,503 8,335 50,425 69,263
Charge for year 1,204 1,224 10,099 12,527
At 29 January 2024 11,707 9,559 60,524 81,790
NET BOOK VALUE
At 29 January 2024 3,613 6,933 3,962 14,508
At 29 January 2023 4,817 8,157 14,061 27,035

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.1.24 29.1.23
£    £   
Trade debtors 416,500 411,119
Amounts owed by group undertakings 48,302 18,987
Other debtors 44,524 98,449
509,326 528,555

Amounts owed by group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.1.24 29.1.23
£    £   
Bank loans and overdrafts 72,358 66,185
Hire purchase contracts 4,509 4,503
Trade creditors 213,012 268,466
Taxation and social security 150,430 132,019
Other creditors 487,715 393,152
928,024 864,325

Amounts owed to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

TECHNICAL SOLUTIONS 24 SEVEN LIMITED (REGISTERED NUMBER: 04391518)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 JANUARY 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.1.24 29.1.23
£    £   
Bank loans 117,230 189,714
Hire purchase contracts 1,166 5,675
118,396 195,389

9. SECURED DEBTS

The assets held under hire purchase are secured on the related assets.

10. OTHER FINANCIAL COMMITMENTS

The company had total guarantees commitments at the balance sheet date of £18,943 (2023 £27,539).

11. RELATED PARTY DISCLOSURES

All transactions undertaken with the directors are deemed to be conducted under normal market conditions and/or are not material.

The company has taken advantage of the exemption from the disclosures according to FRS 102 Section 33.1A, regarding the transactions between fellow group companies.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the company's parent undertaking, Technical Solutions 24 Seven Group Limited, a company registered in England & Wales. The parent undertaking's registered office is Stone House, Stone Road Business Park, Stone Road, Stoke on Trent, ST4 6SR. The address of the principal place of business is Oldfield Business Park, Fenton, Stoke on Trent, Staffs. ST4 3PE.