Tech Camp Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10057276 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

TECH CAMP LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr. Thomas B. Ward

SECRETARY:

Mr Stephen C Bates

REGISTERED OFFICE:

Park Court

Crookham Common Road

Brimpton

Berkshire

RG7 4ST

REGISTERED NUMBER:

10057276 (England and Wales)

ACCOUNTANTS:

Malcolm J. Greer FCCA, ATT

Chartered Certified Accountant

3 Jesse Terrace

Reading

Berkshire

RG1 7RS

FIXED ASSETS

Intangible assets

4

-

4,000

Tangible assets

5

5,029

7,586

5,029

11,586

CURRENT ASSETS

Stocks

12,500

-

Debtors

6

11,496

7,951

Cash at bank and in hand

237,453

155,387

261,449

163,338

CREDITORS

Amounts falling due within one year

7

173,895

131,682

NET CURRENT ASSETS

87,554

31,656

TOTAL ASSETS LESS CURRENT LIABILITIES

92,583

43,242

PROVISIONS FOR LIABILITIES

9

368

724

NET ASSETS

92,215

42,518

CAPITAL AND RESERVES

Called up share capital

10

600

600

Retained earnings

11

91,615

41,918

SHAREHOLDERS' FUNDS

92,215

42,518

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 30 November 2019 and were signed by:

Mr. Thomas B. Ward - Director

1.	STATUTORY INFORMATION

Tech Camp 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.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of three years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Camera equipment

-

33% on cost

Computer equipment

-

50% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred. At the year end, a

claim for enhanced relief against the Company's Corporation Tax liability was made in respect of research and

development costs incurred on the ongoing development of educational products during the year ended 31st

March 2019. These costs totalled £8,682 before enhancement and are included within the Company's overheads,

although they are not detailed separately on the face of the Profit and Loss Account.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2018 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 31 March 2019

12,000

AMORTISATION

At 1 April 2018

8,000

Amortisation for year

4,000

At 31 March 2019

12,000

NET BOOK VALUE

At 31 March 2019

-

At 31 March 2018

4,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Camera

Computer

machinery

fittings

equipment

equipment

Totals

£

£

£

£

£

COST

At 1 April 2018

4,975

2,580

1,027

7,605

16,187

Additions

629

1,036

-

1,449

3,114

At 31 March 2019

5,604

3,616

1,027

9,054

19,301

DEPRECIATION

At 1 April 2018

2,040

1,244

610

4,707

8,601

Charge for year

1,324

762

341

3,244

5,671

At 31 March 2019

3,364

2,006

951

7,951

14,272

NET BOOK VALUE

At 31 March 2019

2,240

1,610

76

1,103

5,029

At 31 March 2018

2,935

1,336

417

2,898

7,586

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

6,767

1,855

Prepayments and accrued income

4,729

6,096

11,496

7,951

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Corporation tax

18,957

10,653

Social security and other taxes

3,320

1,245

VAT

19,806

17,118

Other creditors

-

88

Pensions creditor

335

37

Directors' current accounts

42,933

26,235

Accruals and deferred income

88,544

76,306

173,895

131,682

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.19

31.3.18

£

£

Within one year

12,000

-

Between one and five years

5,000

-

17,000

-

9.	PROVISIONS FOR LIABILITIES

31.3.19

31.3.18

£

£

Deferred tax

Accelerated capital allowances

368

724

Deferred

tax

£

Balance at 1 April 2018

724

Credit to Income Statement during year

(356

)

Balance at 31 March 2019

368

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.19

31.3.18

value:

£

£

600

Ordinary share capital classes

A to F inclusive

£1

600

600

The total share capital of the Company has been subdivided into six separate classes of ordinary share labelled A

to F inclusive.

The shares have the same rights and restrictions and rank pari passu in all respects save that share classes A to F

inclusive shall be entitled to payments of varying amounts of dividends at the discretion of the directors, as

declared by the Company from time to time.

11.

RESERVES

Retained

earnings

£

At 1 April 2018

41,918

Profit for the year

86,585

Dividends

(36,888

)

At 31 March 2019

91,615

12.	RELATED PARTY DISCLOSURES

During the year, total dividends of £36,888 (2018 - £32,000) were paid to the director .

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr. Thomas B. Ward.