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Company Registration No. 02500412 (England and Wales)
TechWyse Limited Unaudited accounts for the year ended 31 December 2024
TechWyse Limited Unaudited accounts Contents
Page
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TechWyse Limited Company Information for the year ended 31 December 2024
Directors
Adam Pedder Vanessa Pedder David Read
Company Number
02500412 (England and Wales)
Registered Office
UNIT 2 HATFIELD REGIS GRANGE ESTATE HATFIELD BROAD OAK BISHOP'S STORTFORD ESSEX CM22 7JZ ENGLAND
Accountants
Redbox Accountancy Limited New Mead Barn Wickham Hall, Hadham Road Bishop's Stortford Hertfordshire CM23 1JG
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TechWyse Limited Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
15,476 
23,213 
Tangible assets
19,185 
25,372 
34,661 
48,585 
Current assets
Inventories
1,550 
1,550 
Debtors
97,357 
158,427 
Cash at bank and in hand
167,551 
40,908 
266,458 
200,885 
Creditors: amounts falling due within one year
(269,037)
(167,989)
Net current (liabilities)/assets
(2,579)
32,896 
Net assets
32,082 
81,481 
Capital and reserves
Called up share capital
1,500 
1,500 
Share premium
616 
42,616 
Profit and loss account
29,966 
37,365 
Shareholders' funds
32,082 
81,481 
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 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 29 August 2025 and were signed on its behalf by
Vanessa Pedder Director Company Registration No. 02500412
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TechWyse Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
TechWyse Limited is a private company, limited by shares, registered in England and Wales, registration number 02500412. The registered office is UNIT 2 HATFIELD REGIS GRANGE ESTATE, HATFIELD BROAD OAK, BISHOP'S STORTFORD, ESSEX, CM22 7JZ, 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.
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:
Fixtures & fittings
25% Reducing Balance Basis
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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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.
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.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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TechWyse Limited Notes to the Accounts for the year ended 31 December 2024
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 January 2024
38,687 
At 31 December 2024
38,687 
Amortisation
At 1 January 2024
15,474 
Charge for the year
7,737 
At 31 December 2024
23,211 
Net book value
At 31 December 2024
15,476 
At 31 December 2023
23,213 
Intangible Goodwill is being amortised over 5 years on a straight line basis
5
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 January 2024
71,620 
Additions
208 
At 31 December 2024
71,828 
Depreciation
At 1 January 2024
46,248 
Charge for the year
6,395 
At 31 December 2024
52,643 
Net book value
At 31 December 2024
19,185 
At 31 December 2023
25,372 
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TechWyse Limited Notes to the Accounts for the year ended 31 December 2024
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
97,207 
157,977 
Other debtors
150 
450 
97,357 
158,427 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
19,867 
29,922 
VAT
56,622 
52,267 
Trade creditors
125,752 
42,624 
Taxes and social security
61,008 
50,355 
Other creditors
845 
1,158 
Loans from directors
1,893 
(8,337)
Deferred income
3,050 
- 
269,037 
167,989 
8
Average number of employees
During the year the average number of employees was 19 (2023: 14).
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