Technopolis Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 02354937 (England and Wales)

Audited Financial Statements

for the Year Ended 30 April 2023

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

Ms C Rosemberg Montes

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

67,860

71,213

CURRENT ASSETS

Debtors

5

2,438,963

2,138,463

Cash at bank and in hand

1,923,902

1,674,883

4,362,865

3,813,346

CREDITORS

Amounts falling due within one year

6

1,464,663

1,384,298

NET CURRENT ASSETS

2,898,202

2,429,048

TOTAL ASSETS LESS CURRENT LIABILITIES

2,966,062

2,500,261

PROVISIONS FOR LIABILITIES

8

63,381

70,616

NET ASSETS

2,902,681

2,429,645

CAPITAL AND RESERVES

Called up share capital

74

74

Share premium

41,805

41,805

Capital redemption reserve

33

33

Retained earnings

2,860,769

2,387,733

SHAREHOLDERS' FUNDS

2,902,681

2,429,645

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 5 September 2023 and were signed on its behalf by:

Mr P S Simmonds - 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 48 (2022 - 44 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 May 2022

9,742

72,281

85,226

167,249

Additions

-

552

16,981

17,533

Disposals

-

(353

)

(12,960

)

(13,313

)

At 30 April 2023

9,742

72,480

89,247

171,469

DEPRECIATION

At 1 May 2022

9,742

30,302

55,992

96,036

Charge for year

-

6,363

12,139

18,502

Eliminated on disposal

-

(136

)

(10,793

)

(10,929

)

At 30 April 2023

9,742

36,529

57,338

103,609

NET BOOK VALUE

At 30 April 2023

-

35,951

31,909

67,860

At 30 April 2022

-

41,979

29,234

71,213

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

1,043,218

873,398

Loans receivable from group

undertakings

3,507

3,354

Amounts recoverable on contract

998,939

1,077,469

Amounts owed by group undertakings

341,552

86,952

Other debtors

12,072

15,853

Directors' loan accounts

-

4,480

Accrued income

20,600

65,243

Prepayments

19,075

11,714

2,438,963

2,138,463

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

96,601

214,521

Tax

122,628

1,923

Social security and other taxes

77,833

78,906

VAT

349,261

191,707

Amounts owed to group undertakings

90,565

74,531

Deferred income

287,585

395,030

Accrued expenses

440,190

427,680

1,464,663

1,384,298

7.	LEASING AGREEMENTS

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

2023

2022

£

£

Within one year

99,750

72,030

Between one and five years

33,250

99,750

133,000

171,780

8.	PROVISIONS FOR LIABILITIES

2023

2022

£

£

Deferred tax

16,964

13,530

Other provisions

46,417

57,086

63,381

70,616

Repairs

Deferred

to

tax

Building

£

£

Balance at 1 May 2022

13,530

57,086

Credit to Income Statement during year

-

(10,669

)

Accelerated capital allowances

3,434

-

Balance at 30 April 2023

16,964

46,417

Included within Provisions for Liabilities is an amount due in respect of 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 2023 is £46,417 (2022: £57,086).

9.	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

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year ended 30 April 2022 the company advanced £4,480 to a director on an interest free basis, the loan was repaid on 30th August 2022.

11.	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.

12.	PARENT COMPANY

The company is owned by Technopolis Group Limited - registered Office: 3 Pavilion Buildings, Brighton, UK, which prepares consolidated group accounts.