Technopolis Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02354937 (England and Wales)

Audited Financial Statements

for the Year Ended 30 April 2020

for

TECHNOPOLIS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Dr P E Arnold

Mr P S Simmonds

Ms R A Allinson

SECRETARY:

Dr P E Arnold

REGISTERED OFFICE:

3 Pavilion Buildings

Brighton

East Sussex

BN1 1EE

REGISTERED NUMBER:

02354937 (England and Wales)

AUDITORS:

Chambers & Co Accountants LLP

Statutory Auditor

2 Church Street

Brighton

East Sussex

BN1 1UJ

FIXED ASSETS

Tangible assets

4

92,457

74,773

CURRENT ASSETS

Debtors

5

2,066,127

1,597,868

Cash at bank and in hand

1,088,669

991,254

3,154,796

2,589,122

CREDITORS

Amounts falling due within one year

6

1,336,940

1,022,087

NET CURRENT ASSETS

1,817,856

1,567,035

TOTAL ASSETS LESS CURRENT LIABILITIES

1,910,313

1,641,808

PROVISIONS FOR LIABILITIES

7

106,660

50,165

NET ASSETS

1,803,653

1,591,643

CAPITAL AND RESERVES

Called up share capital

74

74

Share premium

41,805

41,805

Capital redemption reserve

33

33

Retained earnings

1,761,741

1,549,731

SHAREHOLDERS' FUNDS

1,803,653

1,591,643

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 Board of Directors and authorised for issue on 28 August 2020 and were signed on its behalf by:

Mr P S Simmonds - Director

Ms R A Allinson - Director

1.	STATUTORY INFORMATION

Technopolis 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 Section 1A of Financial Reporting

Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the

Companies Act 2006. The financial statements have been prepared under the historical cost

convention.

Revenue recognition

Turnover represents revenue recognised by the company in respect of services supplied, excluding

value added tax.

Revenue is recognised in the accounting period in which the services are rendered. When the

outcome of the project can be estimated reliably, the company uses the percentage of completion

method based on the actual service performed as a percentage of the total services to be provided.

Where this revenue exceeds the amount invoiced, the excess is included within debtors as amounts

recoverable on contracts. Where the amount invoiced exceeds the revenue recognised the excess is

included within creditors as deferred income.

Where work on a project is assessed as insufficiently complete at the year end for its outcome to be

assessed with certainty it is included in turnover at the lower of cost and net realisable value. Cost

includes all direct expenditure.

Tangible fixed assets

Tangible assets are stated at cost less accumulated depreciation. Depreciation on tangible assets is

calculated to allocate the depreciable amount to their residual value over their estimated useful lives,

as follows:

Fixtures and fittings

15% on reducing balance

Computer equipment

33% on reducing balance

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

The financial statements are presented in pound sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the exchange rates at

the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate.

Non-monetary items measured at historical cost are translated using the exchange rate at the date of

the transaction.

Foreign exchange gains and losses resulting from the settlement of transactions and from the

translation at period-end exchange rates of monetary assets and liabilities denominated in foreign

currencies are recognised in the profit and loss account.

Operating leased assets

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases.

Payments under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a number of defined contribution plans for its employees. A defined

contribution plan is a pension plan under which the company pays fixed contributions into a separate

entity. Once the contributions have been paid Technopolis Limited has no further payment obligations.

The contributions are recognised as an expense when they are due. The assets of the plan are held

separately from the company in independently administered funds.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2019 - 26 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 May 2019

9,742

60,111

47,019

116,872

Additions

-

13,856

29,537

43,393

Disposals

-

-

(3,471

)

(3,471

)

At 30 April 2020

9,742

73,967

73,085

156,794

DEPRECIATION

At 1 May 2019

9,742

16,394

15,963

42,099

Charge for year

-

8,155

16,540

24,695

Eliminated on disposal

-

-

(2,457

)

(2,457

)

At 30 April 2020

9,742

24,549

30,046

64,337

NET BOOK VALUE

At 30 April 2020

-

49,418

43,039

92,457

At 30 April 2019

-

43,717

31,056

74,773

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

1,190,806

637,966

Loans receivable from group

undertakings

3,469

3,441

Amounts recoverable on contract

775,591

772,168

Amounts owed by group undertakings

21,164

138,883

Other debtors

6,090

7,760

Prepayments & accrued income

69,007

37,650

2,066,127

1,597,868

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

1,180

56,648

Tax

11,692

59,788

Social security and other taxes

61,715

44,047

VAT

136,943

124,635

Amounts owed to group undertakings

653,580

55,700

Deferred income

73,334

105,826

Accrued expenses

398,496

575,443

1,336,940

1,022,087

7.	PROVISIONS FOR LIABILITIES

Included within Provisions for Liabilities is an amount due in respect of internal and external repair

work to be carried out to the office premises, falling due at the end of the company's old lease in

March 2018.The amount owed at 30 April 2020 is £89093 (2019: £37453).

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Peter R S Chambers (Senior Statutory Auditor)

for and on behalf of Chambers & Co Accountants LLP

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102

'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related

party transactions with wholly owned subsidiaries within the group.

10.	ULTIMATE PARENT COMPANY

The company is owned by: Technopolis Group Limited, Registered Office: 3 Pavilion Buildings,

Brighton, UK, who prepare consolidated group accounts.