Technical & General Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01995369 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

TECHNICAL & GENERAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Dr Ahmad Youssef

SECRETARY:

Dr Abir Youssef

REGISTERED OFFICE:

2 Albion Place

London

W6 0QT

REGISTERED NUMBER:

01995369 (England and Wales)

ACCOUNTANTS:

Hovnan & Co Ltd

Chartered Accountants

106 Ashurst Road

Cockfosters

London

EN4 9LG

FIXED ASSETS

Tangible assets

4

11,735

12,865

CURRENT ASSETS

Stocks

810,343

806,000

Debtors

5

111,599

470,957

Cash at bank and in hand

1,518,624

959,831

2,440,566

2,236,788

CREDITORS

Amounts falling due within one year

6

678,549

643,107

NET CURRENT ASSETS

1,762,017

1,593,681

TOTAL ASSETS LESS CURRENT LIABILITIES

1,773,752

1,606,546

PROVISIONS FOR LIABILITIES

2,230

2,430

NET ASSETS

1,771,522

1,604,116

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

1,761,522

1,594,116

SHAREHOLDERS' FUNDS

1,771,522

1,604,116

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 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 director on 12 June 2020 and were signed by:

Dr Ahmad Youssef - Director

1.	STATUTORY INFORMATION

Technical & General 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.

Tangible fixed assets

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

Fixtures and fittings

-

20% on reducing balance

All fixed assets are initially recorded at 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 balance sheet date.

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.

Foreign currencies

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 rate of exchange ruling at the date of

transaction or at balance sheet date. Exchange differences are taken into account in arriving at the operating result.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in nonconvertible

preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or

loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes

recognised in profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2018 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2019

104,286

Additions

1,805

At 31 December 2019

106,091

DEPRECIATION

At 1 January 2019

91,421

Charge for year

2,935

At 31 December 2019

94,356

NET BOOK VALUE

At 31 December 2019

11,735

At 31 December 2018

12,865

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade debtors

84,038

435,610

Other debtors

2,314

2,364

VAT

15,180

24,123

Prepayments and accrued income

10,067

8,860

111,599

470,957

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade creditors

557,507

521,287

Tax

80,744

96,027

Social security and other taxes

12,450

7,922

Other creditors

8,647

7,370

Directors' current accounts

1,251

3,251

Accruals and deferred income

17,950

7,250

678,549

643,107

Directors' current account is due to Dr A Youssef £1,251 (2018 - £3,251).

7.	RELATED PARTY DISCLOSURES

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Dr Ahmad Youssef.