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Audited Financial Statements |
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for the Year Ended 30 April 2022 |
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for |
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TECHNOPOLIS LIMITED |
REGISTERED NUMBER:
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Audited Financial Statements |
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for the Year Ended 30 April 2022 |
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for |
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TECHNOPOLIS LIMITED |
TECHNOPOLIS LIMITED (REGISTERED NUMBER: 02354937) |
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Contents of the Financial Statements |
for the Year Ended 30 April 2022 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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TECHNOPOLIS LIMITED |
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Company Information |
for the Year Ended 30 April 2022 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Statutory Auditor |
2 Church Street |
Brighton |
East Sussex |
BN1 1UJ |
TECHNOPOLIS LIMITED (REGISTERED NUMBER: 02354937) |
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Balance Sheet |
30 April 2022 |
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2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Capital redemption reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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TECHNOPOLIS LIMITED (REGISTERED NUMBER: 02354937) |
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Notes to the Financial Statements |
for the Year Ended 30 April 2022 |
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1. | STATUTORY INFORMATION |
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Technopolis Limited is a
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2. | ACCOUNTING POLICIES |
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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. |
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Revenue recognition |
Turnover represents revenue recognised by the company in respect of services supplied, excluding value added tax. |
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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. |
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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. |
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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. |
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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 |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
TECHNOPOLIS LIMITED (REGISTERED NUMBER: 02354937) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2022 |
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2. | ACCOUNTING POLICIES - continued |
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Foreign currencies |
The financial statements are presented in pound sterling. |
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Transactions and balances |
Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the transactions. |
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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. |
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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. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Short | and | Computer |
leasehold | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 May 2021 |
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Additions |
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Disposals |
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At 30 April 2022 |
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DEPRECIATION |
At 1 May 2021 |
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Charge for year |
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Eliminated on disposal |
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At 30 April 2022 |
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NET BOOK VALUE |
At 30 April 2022 |
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At 30 April 2021 |
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TECHNOPOLIS LIMITED (REGISTERED NUMBER: 02354937) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2022 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
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Loans receivable from group |
undertakings | 3,354 | 3,481 |
Amounts recoverable on contract |
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Amounts owed by group undertakings |
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Other debtors | 15,853 | 1,202 |
Directors' loan accounts | 4,480 | - |
Accrued income |
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Prepayments |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
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Tax |
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Social security and other taxes |
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VAT | 191,707 | 283,547 |
Amounts owed to group undertakings | 74,531 | 39,941 |
Deferred income |
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Accrued expenses |
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7. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2022 | 2021 |
£ | £ |
Within one year |
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Between one and five years |
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8. | PROVISIONS FOR LIABILITIES |
2022 | 2021 |
£ | £ |
Deferred tax | 13,530 | 14,025 |
Other provisions | 57,086 | 57,086 |
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Repairs |
Deferred | to |
tax | Building |
£ | £ |
Balance at 1 May 2021 |
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Accelerated capital allowances | (495 | ) | - |
Balance at 30 April 2022 |
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TECHNOPOLIS LIMITED (REGISTERED NUMBER: 02354937) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2022 |
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8. | PROVISIONS FOR LIABILITIES - continued |
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Included within Provisions for Liabilities is an amount due in respect of internal and external 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 2022 is £57,086 (2021: £57,086). |
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9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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During the year the company advanced £4480 to a director on an interest free basis, the loan was repaid on 30th August 2022. |
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11. | RELATED PARTY DISCLOSURES |
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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. |
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12. | ULTIMATE PARENT COMPANY |
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The company is owned by: Technopolis Group Limited, Registered Office: 3 Pavilion Buildings, Brighton, UK, who prepare consolidated group accounts. |