Company registration number 15408026 (England and Wales)
TECHSAVVI LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2025
PAGES FOR FILING WITH REGISTRAR
TECHSAVVI LTD
COMPANY INFORMATION
Director
Mr M J Dawson
(Appointed 12 January 2024)
Company number
15408026
Registered office
48 Birmingham Road
Bromsgrove
B61 0DD
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Monzo Bank Limited
Broadwalk House
5 Appold Street
London
EC2A 2AG
TECHSAVVI LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
TECHSAVVI LTD
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF TECHSAVVI LTD FOR THE PERIOD ENDED 31 JANUARY 2025
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Techsavvi Ltd for the period ended 31 January 2025 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Techsavvi Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Techsavvi Ltd and state those matters that we have agreed to state to the board of directors of Techsavvi Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Techsavvi Ltd and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Techsavvi Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Techsavvi Ltd. You consider that Techsavvi Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Techsavvi Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ormerod Rutter Limited
7 April 2025
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
TECHSAVVI LTD
BALANCE SHEET
AS AT 31 JANUARY 2025
31 January 2025
- 2 -
2025
Notes
£
£
Fixed assets
Tangible assets
3
2,940
Current assets
Debtors
4
1,846
Cash at bank and in hand
24,383
26,229
Creditors: amounts falling due within one year
5
(25,519)
Net current assets
710
Total assets less current liabilities
3,650
Provisions for liabilities
6
(617)
Net assets
3,033
Capital and reserves
Called up share capital
7
100
Profit and loss reserves
2,933
Total equity
3,033
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 7 April 2025
Mr M J Dawson
Director
Company registration number 15408026 (England and Wales)
TECHSAVVI LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2025
- 3 -
1
Accounting policies
Company information
Techsavvi Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 48 Birmingham Road, Bromsgrove, B61 0DD.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.
Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% on reducing balance
Computer equipment
20% on cost
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
TECHSAVVI LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2025
Number
Total
1
3
Tangible fixed assets
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 12 January 2024
Additions
1,000
2,739
3,739
At 31 January 2025
1,000
2,739
3,739
Depreciation and impairment
At 12 January 2024
Depreciation charged in the period
251
548
799
At 31 January 2025
251
548
799
Carrying amount
At 31 January 2025
749
2,191
2,940
TECHSAVVI LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JANUARY 2025
- 5 -
4
Debtors
2025
Amounts falling due within one year:
£
Trade debtors
1,846
5
Creditors: amounts falling due within one year
2025
£
Taxation and social security
23,335
Other creditors
2,184
25,519
6
Provisions for liabilities
2025
£
Deferred tax liabilities
617
7
Called up share capital
2025
2025
Ordinary share capital
Number
£
Issued and fully paid
Ordinary A Shares of £1 each
90
90
Ordinary B Shares of £1 each
10
10
100
100
1 Ordinary share of £1 was allotted and fully paid for cash at par on incorporation.
Subsequently, the company issued further 99 Ordinary £1 shares for cash at par during the period.
The company then passed an ordinary resolution by reclassifying 100 Ordinary £1 shares into 90 Ordinary A £1 shares and 10 Ordinary B £1 shares. The rights and privileges attached to these shares remain unaltered.
8
Ultimate controlling party
The ultimate controlling party is Mr M J Dawson.
9
Comparatives
This is the company's first period of trade, therefore there are no comparatives.