Azteq Solutions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04385339

Financial Statements

FOR THE YEAR ENDED

30 September 2020

for

AZTEQ SOLUTIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr T R A Barber

Mr R L Spence

REGISTERED OFFICE:

Unit C2A, Comet Studios

De Havilland Court

Penn Street

Amersham

Buckinghamshire

HP15 7TZ

REGISTERED NUMBER:

04385339

FIXED ASSETS

Tangible assets

4

63,770

5,461

CURRENT ASSETS

Stocks

-

9,319

Debtors

5

647,685

434,082

Cash at bank

40,883

57,813

688,568

501,214

CREDITORS

Amounts falling due within one year

6

378,905

198,077

NET CURRENT ASSETS

309,663

303,137

TOTAL ASSETS LESS CURRENT LIABILITIES

373,433

308,598

CAPITAL AND RESERVES

Called up share capital

32

32

Other reserves

(282,180

)

(187,470

)

Retained earnings

655,581

496,036

SHAREHOLDERS' FUNDS

373,433

308,598

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 11 February 2021 and were signed on its behalf by:

Mr R L Spence - Director

1.	STATUTORY INFORMATION

Azteq Solutions Limited is a private company, limited by shares , registered in Not specified/Other. 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.

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 ("FRS 102"), the financial reporting standard applicable in the United Kingdom and the Republic of Ireland and the Companies Act 2006.

This is the first time the company has adopted FRS 102 and no adjustments were required to comparative period:

The Directors have assessed the company's ability to continue in operational existence for the foreseeable future in accordance with the FRC (going concern and liquidity risk guidance (October 2009). Therefore it is considered appropriate to prepare the financial statements on a going concern basis.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

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

-

33% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

40% on reducing balance

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.

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.

Going concern

The directors review the on going working capital of the company to ensure that there are sufficient resources to meet its financial liabilities to continue trading in the foreseeable future.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2019 - 41 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 October 2019

1,506

25,544

38,482

99,941

165,473

Additions

-

-

58,490

23,710

82,200

At 30 September 2020

1,506

25,544

96,972

123,651

247,673

DEPRECIATION

At 1 October 2019

1,506

25,544

33,021

99,941

160,012

Charge for year

-

-

15,988

7,903

23,891

At 30 September 2020

1,506

25,544

49,009

107,844

183,903

NET BOOK VALUE

At 30 September 2020

-

-

47,963

15,807

63,770

At 30 September 2019

-

-

5,461

-

5,461

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/9/20

30/9/19

£

£

Trade debtors

54,770

354,514

Amounts owed by group undertakings

409,355

-

Other debtors

-

29,231

Directors' current accounts

-

2

VAT

16,305

-

Prepayments and accrued income

167,255

6,648

Prepayments

-

43,687

647,685

434,082

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/9/20

30/9/19

£

£

Bank loans and overdrafts

50,000

-

Hire purchase contracts

47,703

-

Trade creditors

264,734

121,320

Social security and other taxes

16,468

27,217

VAT

-

49,540

378,905

198,077