Technology International (Europe) Limited - Period Ending 2016-09-30

Registration number: 02160315

Technology International (Europe) Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

Critchleys LLP
Greyfriars Court
Paradise Square
Oxford
OX1 1BE

Technology International (Europe) Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Technology International (Europe) Limited - Registration number: 02160315
Balance Sheet as at 30 September 2016

		Note			2016						2015
	£			£			£			£
Fixed assets
Tangible fixed assets		2						12,617						8,156
Investments								40,521						40,521
								53,138						48,677
Current assets
Debtors		3			533,516						559,715
Cash at bank and in hand					135,979						73,723
					669,495						633,438
Creditors: Amounts falling due within one year					(57,723)						(45,426)
Net current assets								611,772						588,012
Total assets less current liabilities								664,910						636,689
Creditors: Amounts falling due after more than one year								(4,172)						-
Net assets								660,738						636,689
Capital and reserves
Called up share capital		4			75						75
Capital redemption reserve					25						25
Profit and loss account					660,638						636,589
Shareholders' funds								660,738						636,689

The notes on pages 3 to 5 form an integral part of these financial statements.
  Page 1

Technology International (Europe) Limited - Registration number: 02160315
Balance Sheet as at 30 September 2016
......... continued

For the year ending 30 September 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 21 March 2017 and signed on its behalf by:

.........................................
Mr C N Green
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
  Page 2

Technology International (Europe) Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 group accounts

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Testing equipment	25% reducing balance basis
Office equipment	25% reducing balance basis

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 3

Technology International (Europe) Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 October 2015		38,438			40,521			78,959
Additions		9,303			-			9,303
Disposals		(6,259)			-			(6,259)
At 30 September 2016		41,482			40,521			82,003
Depreciation
At 1 October 2015		30,282			-			30,282
Charge for the year		4,234			-			4,234
Eliminated on disposals		(5,651)			-			(5,651)
At 30 September 2016		28,865			-			28,865
Net book value
At 30 September 2016		12,617			40,521			53,138
At 30 September 2015		8,156			40,521			48,677

3

Debtors

Debtors includes £368,671 (2015 - £400,133) receivable after more than one year.

 

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		75			75			75			75

Page 4

Technology International (Europe) Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

5	Related party transactions

Directors' advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
Mr C N Green
Director's loan - Interest free	5,000	17,000	17,000	-

Page 5