Technology Solutions (Holdings) Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 08352304 (England and Wales)

TECHNOLOGY SOLUTIONS (HOLDINGS) LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

to

5

Chartered Certified Accountants' Report

6

DIRECTORS:

Dr D R Evans

Mrs A J Evans

REGISTERED OFFICE:

8 Dunsmore Close

Loughborough

Leicestershire

LE11 3RD

REGISTERED NUMBER:

08352304 (England and Wales)

ACCOUNTANTS:

Essex Abel Ltd

4 Bank Court

Weldon Road

Loughborough

Leicestershire

LE11 5RF

FIXED ASSETS

Intangible assets

2

85,000

145,000

Tangible assets

3

47,221

77,976

Investments

4

1,000

133,221

223,976

CURRENT ASSETS

Debtors

676,394

1,210,141

Cash at bank

1,178,562

382,575

1,854,956

1,592,716

CREDITORS

Amounts falling due within one year

153,241

58,044

NET CURRENT ASSETS

1,701,715

1,534,672

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,834,936

1,758,648

CAPITAL AND RESERVES

Called up share capital

5

1,000

Profit and loss account

1,833,936

1,757,648

SHAREHOLDERS' FUNDS

1,834,936

1,758,648

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved and authorised for issue by the Board of Directors on 31 October 2016 and were
signed on its behalf by:

Dr D R Evans - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Preparation of consolidated financial statements

The financial statements contain information about Technology Solutions (Holdings) Limited as an individual

company and do not contain consolidated financial information as the parent of a group. The company has taken

the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

Turnover represents net invoiced sales for renting assets and receipt of royalties from group companies.

Intangible assets

Intangible assets, which comprise of Intellectual property, are stated at historical cost less accumulated

amortisation and impairment loss, if any.

Amortisation of intangible assets with a definite useful life is calculated on a straight-line basis over the expected

economic lives of the assets as follows:

- Intellectual Property - 5 years

Expected useful lives are reviewed at each balance sheet date and if they differ significantly from previous

estimates, the remaining amortisation periods are adjusted accordingly.

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

-

20% on cost

Fixtures and fittings

-

10% on cost

Computer equipment

-

33% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences, where material, that have originated but not

reversed at the balance sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2015

and 31 July 2016

300,000

AMORTISATION

At 1 August 2015

155,000

Amortisation for year

60,000

At 31 July 2016

215,000

NET BOOK VALUE

At 31 July 2016

85,000

At 31 July 2015

145,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2015

179,925

Disposals

(47,953

)

At 31 July 2016

131,972

DEPRECIATION

At 1 August 2015

101,949

Charge for year

29,454

Eliminated on disposal

(46,652

)

At 31 July 2016

84,751

NET BOOK VALUE

At 31 July 2016

47,221

At 31 July 2015

77,976

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 August 2015

and 31 July 2016

1,000

NET BOOK VALUE

At 31 July 2016

1,000

At 31 July 2015

1,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Technology Solutions (UK) Ltd

Nature of business: Design and development of electronic components.

%

Class of shares:

holding

'A' Preference

100.00

'B'

100.00

2016

2015

£

Aggregate capital and reserves

1,262,149

414,444

Profit for the year

947,705

344,044

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

960

'A ' Preference

£1

960

40

'B'

£1

40

1,000

Dividend payments on the first £200,000 of dividends declared are to be allocated pro-rata to shareholding of

issued A Preference shares. Thereafter, dividends to be paid pro-rata to shareholding of all issued shares.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Technology Solutions (Holdings) Limited for the year ended 31 July 2016 which comprise the

Profit and Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Technology Solutions (Holdings) Limited, as a body, in accordance with the terms of our engagement letter dated 5 August 2013. Our work has been undertaken solely to prepare for your approval the financial statements of Technology Solutions (Holdings) Limited and state those matters that we have agreed to state to the Board of Directors of Technology Solutions (Holdings) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Technology Solutions (Holdings) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Technology Solutions (Holdings) Limited. You consider that Technology Solutions (Holdings) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Technology Solutions (Holdings) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Essex Abel Ltd

4 Bank Court

Weldon Road

Loughborough

Leicestershire

LE11 5RF

31 October 2016