4tech_Software_Limited - Accounts

Tangible fixed assets

Debtors

Cash at bank and in hand

Creditors: amounts falling due within one year

Called up share capital

Profit and loss account

Approved by the board of directors on and signed on its behalf by:

Director

Registered No: 07415956

The notes on pages 3 to 5 form part of these financial statements.

a)

Basis of accounting

The financial statements have been prepared under the historical cost convention and FRS 102, Section 1A – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

The principal accounting policies of the company are set out below:

b)

Revenue recognition

Turnover represents the net invoiced value of sales of goods and services, excluding value added tax.  Revenue is recognised in the period where goods were sold and for services in the period in which they were provided.

c)

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation.  Depreciation is calculated to write off the cost of tangible fixed assets on a straight-line basis at the following rates:

Computer equipment

33% per annum

d)

Foreign currencies

Assets and liabilities denominated in foreign currencies are translated into sterling at the rates ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate prevailing at the date of the transaction.

All foreign currency translation differences are taken to the profit and loss account.

e)

Taxation

Taxation represents the sum of tax currently payable and deferred taxation.

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 all timing differences between the carrying amount of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. 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 substantially enacted by the balance sheet date.

The average number of employees during the year was nil (2017 – nil).

At 1 November 2017 and 31 October 2018

At 1 November 2017

Charge for the year

At 31 October 2018

At 31 October 2017

Trade debtors

Director's loan account

Unpaid share capital

Prepayment and accrued income

Corporation tax

Creditors: amounts falling due within one year

Accruals

Directors' loan accounts

Other creditors

The company was under the control of the directors throughout the current and previous year.

4tech Software Limited is a private company limited by shares and incorporated in England.  The address of the registered office is Eleven Brindleyplace, 2 Brunswick Square, Birmingham, B1 2LP.

The financial statements are presented in £ sterling which is the functional currency of the company.