Company Registration No. 09592155 (England and Wales)
TECHSTRAT SERVICES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2017
PAGES FOR FILING WITH REGISTRAR
TECHSTRAT SERVICES LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
TECHSTRAT SERVICES LTD
BALANCE SHEET
AS AT
31 JANUARY 2017
31 January 2017
- 1 -
2017
2016
Notes
£
£
£
£
Current assets
Debtors
3
13,840
48,661
Cash at bank and in hand
351,743
160,028
365,583
208,689
Creditors: amounts falling due within one year
4
(91,768)
(97,366)
Net current assets
273,815
111,323
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
273,715
111,223
Total equity
273,815
111,323
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial Period ended 31 January 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the board of directors and authorised for issue on 31 October 2017 and are signed on its behalf by:
C Brooks
Director
Company Registration No. 09592155
TECHSTRAT SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2017
- 2 -
1
Accounting policies
Company information
Techstrat Services Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
264 Banbury Road, Oxford, OX2 7DY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
These financial statements for the Period ended 31 January 2017
are the
first
financial statements of Techstrat Services Ltd prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 14 May 2015. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
1.2
Reporting period
The company incorporated on 14 May 2015 and commenced trading on that date. The company's first financial statements were made for the period ended 31 March 2016. As of 1 February 2017, the company changed the principal activity to be that of a property investment company and therefore has prepared accounts for a shortened period to coincide with this date and change of activity.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
1.4
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.6
Taxation
The tax expense represents the sum of the tax currently payable
.
TECHSTRAT SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JANUARY 2017
1
Accounting policies
(Continued)
- 3 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the Period was 2 (2016 - 2).
3
Debtors
2017
2016
Amounts falling due within one year:
£
£
Trade debtors
9,840
48,661
Other debtors
4,000
-
13,840
48,661
4
Creditors: amounts falling due within one year
2017
2016
£
£
Trade creditors
6,962
-
Corporation tax
43,574
28,719
Other taxation and social security
12,768
9,027
Other creditors
28,464
59,620
91,768
97,366
5
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
90 Ordinary A shares of £1 each
90
90
10 Ordinary B shares of £1 each
10
10
100
100