Technology Solutions (UK) Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 02777518 (England and Wales)

TECHNOLOGY SOLUTIONS (UK) LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

6

Chartered Certified Accountants' Report

7

DIRECTORS:

Dr D R Evans

Mrs A J Evans

SECRETARY:

Mrs A J Evans

REGISTERED OFFICE:

8 Dunsmore Close

Loughborough

Leicestershire

LE11 3RD

REGISTERED NUMBER:

02777518 (England and Wales)

ACCOUNTANTS:

Essex Abel Ltd

4 Bank Court

Weldon Road

Loughborough

Leicestershire

LE11 5RF

BANKERS:

Nat West Plc

Market place

Loughborough

Leicestershire

LE11 3NZ

FIXED ASSETS

Intangible assets

2

10,630

-

Tangible assets

3

473,210

425,785

483,840

425,785

CURRENT ASSETS

Stocks

791,047

582,701

Debtors

457,636

583,902

Cash at bank and in hand

525,338

142,654

1,774,021

1,309,257

CREDITORS

Amounts falling due within one year

817,995

1,112,304

NET CURRENT ASSETS

956,026

196,953

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,439,866

622,738

CREDITORS

Amounts falling due after more than one
year

(90,117

)

(124,387

)

PROVISIONS FOR LIABILITIES

(87,600

)

(83,907

)

NET ASSETS

1,262,149

414,444

CAPITAL AND RESERVES

Called up share capital

4

1,000

Profit and loss account

1,261,149

413,444

SHAREHOLDERS' FUNDS

1,262,149

414,444

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).

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 sale of goods, excluding value added tax.

Revenue is recognised on the sale of goods when the significant risks and rewards of ownership of the goods

have passed to the buyer and the amount of revenue can be measured reliably. Revenue on goods delivered is

recognised when goods have been dispatched to the customer.

Intangible fixed assets

Intangible assets, which comprise of, patents and licenses, 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:

- Patents and licenses - 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance and 20% on cost

Fixtures and fittings

-

10% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at weighed average historical cost less any provision for obsolete and slow moving items or, if

lower, net realisable value.

Deferred tax

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

reversed at the balance sheet date.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

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

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

Additions

11,189

At 31 July 2016

11,189

AMORTISATION

Amortisation for year

559

At 31 July 2016

559

NET BOOK VALUE

At 31 July 2016

10,630

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2015

535,755

Additions

231,186

Disposals

(81,600

)

At 31 July 2016

685,341

DEPRECIATION

At 1 August 2015

109,970

Charge for year

121,286

Eliminated on disposal

(19,125

)

At 31 July 2016

212,131

NET BOOK VALUE

At 31 July 2016

473,210

At 31 July 2015

425,785

4.	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.

5.	ULTIMATE PARENT COMPANY

Technology Solutions (Holdings) Limited is regarded by the directors as being the company's ultimate parent

company.

The company is incorporated in England and Wales.

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 six) 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 (UK) 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 (UK) 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 (UK) Limited and state those matters that we have agreed to state to the Board of Directors of Technology Solutions (UK) 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 (UK) 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 (UK) Limited. You consider that Technology Solutions (UK) 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 (UK) 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