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REGISTERED NUMBER: 04910899 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 July 2024

for

8 Tech Limited

8 Tech Limited (Registered number: 04910899)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


8 Tech Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: M R J Hill
J R Hill





REGISTERED OFFICE: 5 Barnfield Crescent
Exeter
Devon
EX1 1QT





REGISTERED NUMBER: 04910899 (England and Wales)





ACCOUNTANTS: Kirk Hills Business Advisors
a trading name of RT Marke &
Co Chartered Accountants Ltd
5 Barnfield Crescent
Exeter
Devon
EX1 1QT

8 Tech Limited (Registered number: 04910899)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £ £ £
FIXED ASSETS
Tangible assets 4 78,723 102,737
Investments 5 200 200
78,923 102,937

CURRENT ASSETS
Debtors 6 329,840 41,899
Cash at bank and in hand 117,669 13,533
447,509 55,432
CREDITORS
Amounts falling due within one year 7 1,212,452 563,625
NET CURRENT LIABILITIES (764,943 ) (508,193 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(686,020

)

(405,256

)

CREDITORS
Amounts falling due after more than one
year

8

(28,215

)

(36,595

)

PROVISIONS FOR LIABILITIES (5,528 ) (9,489 )
NET LIABILITIES (719,763 ) (451,340 )

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings (719,963 ) (451,540 )
(719,763 ) (451,340 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

8 Tech Limited (Registered number: 04910899)

Balance Sheet - continued
31 July 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 April 2025 and were signed on its behalf by:





M R J Hill - Director


8 Tech Limited (Registered number: 04910899)

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


1. STATUTORY INFORMATION

8 Tech 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Financial instruments
(i) Financial assets
Basic financial assets, including trade and other debtors are initially recognised at the transaction price and therefore stated at amortisation cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the debtors are stated at cost less impairment losses for bad and doubtful debts.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans and other loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortisation cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Taxation
Taxation for the year comprises current and deferred 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 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 balance sheet date.


8 Tech Limited (Registered number: 04910899)

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


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Going concern
The directors' of the company consider that it is a going concern and their intention is to continually support the company for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£ £ £ £
COST
At 1 August 2023 45,485 91,317 6,768 143,570
Additions 26,850 - 486 27,336
Disposals (44,500 ) - - (44,500 )
At 31 July 2024 27,835 91,317 7,254 126,406
DEPRECIATION
At 1 August 2023 11,371 27,056 2,406 40,833
Charge for year 9,098 16,066 1,155 26,319
Eliminated on disposal (19,469 ) - - (19,469 )
At 31 July 2024 1,000 43,122 3,561 47,683
NET BOOK VALUE
At 31 July 2024 26,835 48,195 3,693 78,723
At 31 July 2023 34,114 64,261 4,362 102,737

8 Tech Limited (Registered number: 04910899)

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


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£
COST
At 1 August 2023
and 31 July 2024 59,750
DEPRECIATION
At 1 August 2023 18,744
Charge for year 10,252
At 31 July 2024 28,996
NET BOOK VALUE
At 31 July 2024 30,754
At 31 July 2023 41,006

5. FIXED ASSET INVESTMENTS
Unlisted
investments
£
COST
At 1 August 2023
and 31 July 2024 200
NET BOOK VALUE
At 31 July 2024 200
At 31 July 2023 200

The company's investments at the Balance Sheet date in the share capital of companies include the following:

8 Tech Homes (frogmire) Limited
Registered office: 5 Barnfield crescent, Exeter, Devon
Nature of business: Development of building projects
%
Class of shares: holding
Ordinary 100.00

8 Tech Homes (The Barleys) Limited
Registered office: 5 Barnfield Crescent, Exeter, Devon
Nature of business: Development of building projects
%
Class of shares: holding
Ordinary 100.00

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£ £
Trade debtors 10,920 -
Amounts owed by group undertakings 297,684 -
Other debtors 21,236 41,899
329,840 41,899

8 Tech Limited (Registered number: 04910899)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£ £
Hire purchase contracts 8,381 7,763
Trade creditors 33,914 31,250
Taxation and social security 8,370 -
Other creditors 1,161,787 524,612
1,212,452 563,625

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.24 31.7.23
£ £
Hire purchase contracts 28,215 36,595