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

REGISTERED NUMBER: 08442383 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2021

for

Techolony Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

N Hague

REGISTERED OFFICE:

3rd Floor

Scottish Mutual House

27-29 North Street

Hornchurch

Essex

RM11 1RS

REGISTERED NUMBER:

08442383 (England and Wales)

ACCOUNTANTS:

Bruce Allen LLP

Chartered Certified Accountants

3rd Floor

Scottish Mutual House

27-29 North Street

Hornchurch

Essex

RM11 1RS

FIXED ASSETS

Tangible assets

4

3,411

2,238

CURRENT ASSETS

Debtors

5

131,537

146,669

Cash at bank

281,925

207,808

413,462

354,477

CREDITORS

Amounts falling due within one year

6

102,179

99,368

NET CURRENT ASSETS

311,283

255,109

TOTAL ASSETS LESS CURRENT LIABILITIES

314,694

257,347

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

314,693

257,346

SHAREHOLDERS' FUNDS

314,694

257,347

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 and authorised for issue on 4 October 2021 and were signed by:

N Hague - Director

1.	STATUTORY INFORMATION

Techolony 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.

Plant and machinery

-

25% on reducing balance

Computer equipment

-

25% 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.

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 1 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 April 2020

809

4,633

5,442

Additions

-

2,310

2,310

At 31 March 2021

809

6,943

7,752

DEPRECIATION

At 1 April 2020

382

2,822

3,204

Charge for year

107

1,030

1,137

At 31 March 2021

489

3,852

4,341

NET BOOK VALUE

At 31 March 2021

320

3,091

3,411

At 31 March 2020

427

1,811

2,238

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

30,420

52,177

Other debtors

101,117

94,492

131,537

146,669

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Taxation and social security

37,655

41,753

Other creditors

64,524

57,615

102,179

99,368

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2021 and 31 March 2020:

31.3.21

31.3.20

£

£

N Hague

Balance outstanding at start of year

71,315

44,515

Amounts advanced

5,000

26,800

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

76,315

71,315