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Registered number: 04793734
Technostics Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 04793734
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 714 238,402
714 238,402
CURRENT ASSETS
Debtors 6 55,558 47,877
Cash at bank and in hand 58,600 32,473
114,158 80,350
Creditors: Amounts Falling Due Within One Year 7 (6,360 ) (7,970 )
NET CURRENT ASSETS (LIABILITIES) 107,798 72,380
TOTAL ASSETS LESS CURRENT LIABILITIES 108,512 310,782
Creditors: Amounts Falling Due After More Than One Year 8 (6,822 ) (183,751 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (136 ) (186 )
NET ASSETS 101,554 126,845
CAPITAL AND RESERVES
Called up share capital 9 30,100 30,100
Income Statement 71,454 96,745
SHAREHOLDERS' FUNDS 101,554 126,845
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For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Harvey Dettmar
Director
19/03/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Technostics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04793734 . The registered office is Daisy Building (2nd Floor), Castle Hill Hospital Castle Road, Cottingham, East Riding Of Yorkshire, HU16 5JQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property 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 acquisition date.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% straight line
Fixtures & Fittings 20% reducing balance
Computer Equipment 25% straight line
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income statement.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 6)
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4. Intangible Assets
Intellectual Property
£
Cost
As at 1 January 2024 145,208
As at 31 December 2024 145,208
Amortisation
As at 1 January 2024 145,208
As at 31 December 2024 145,208
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 -
5. Tangible Assets
Investment Properties Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2024 237,423 2,500 58,398 17,169 315,490
Disposals (237,423 ) - - - (237,423 )
As at 31 December 2024 - 2,500 58,398 17,169 78,067
...CONTINUED
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Depreciation
As at 1 January 2024 - 1,775 58,398 16,915 77,088
Provided during the period - 181 - 84 265
As at 31 December 2024 - 1,956 58,398 16,999 77,353
Net Book Value
As at 31 December 2024 - 544 - 170 714
As at 1 January 2024 237,423 725 - 254 238,402
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 10,938 1,741
Other debtors 44,620 46,136
55,558 47,877
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 16 10
Bank loans and overdrafts 6,135 5,984
Other creditors 209 1,232
Taxation and social security - 744
6,360 7,970
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 6,822 12,957
Other creditors - 170,794
6,822 183,751
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 30,100 30,100
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