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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 1ST NOVEMBER 2016 TO 31ST DECEMBER 2017 |
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TECHEVOLUTION LTD |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 1ST NOVEMBER 2016 TO 31ST DECEMBER 2017 |
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FOR |
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TECHEVOLUTION LTD |
TECHEVOLUTION LTD (REGISTERED NUMBER: 07395113) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Period 1st November 2016 to 31st December 2017 |
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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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TECHEVOLUTION LTD |
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COMPANY INFORMATION |
for the Period 1st November 2016 to 31st December 2017 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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1 City Road East |
Manchester |
M15 4PN |
TECHEVOLUTION LTD (REGISTERED NUMBER: 07395113) |
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BALANCE SHEET |
31st December 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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The director acknowledges his responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered. |
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The financial statements were approved and authorised for issue by the director on
signed by: |
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TECHEVOLUTION LTD (REGISTERED NUMBER: 07395113) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Period 1st November 2016 to 31st December 2017 |
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1. | STATUTORY INFORMATION |
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Techevolution Limited is a private limited company, limited by shares, incorporated in England and Wales, |
registration number 07395113. The address of the registered office and principal place of business is Clarence |
House 279 Helmshore Road, Haslingden, Rossendale, Lancashire, BB4 4DJ. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The Directors consider that the company can continue to operate and that it is appropriate to prepare the |
financial statements on the going concern basis. The financial statements do not include any adjustments that |
would result from the basis of preparation being inappropriate. |
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Turnover |
Turnover is measured at the fair value of consideration received or receivable for IT consultancy and services, |
excluding discounts, rebates, value added tax and other sales taxes. |
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Turnover from a contract to provide services is recognised in the period in which the services are provided in |
accordance with the stage of completion of the contract when all of the following conditions are satisfied: |
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- the amount of turnover can be measured reliably; |
- it is probable that the Company will receive the consideration due under the contract; |
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and |
- the costs incurred and the costs to complete the contract can be measured reliably. |
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Tangible fixed assets |
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated |
impairment losses. |
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The company assesses at each reporting date whether tangible fixed assets are impaired. |
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Depreciation on tangible fixed assets is charged to the profit and loss so as to write off their value, over their |
estimated useful lives, using the following methods: |
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Fixtures and fittings | 25% reducing balance |
Office equipment | 25% reducing balance |
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Depreciation methods, useful lives and residual values are reviewed if there is an indication of a significant |
change since the last annual reporting date in the pattern by which the company expects to consume an |
asset's future economic benefits. |
TECHEVOLUTION LTD (REGISTERED NUMBER: 07395113) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1st November 2016 to 31st December 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
Financial assets and liabilities are recognised when the company becomes party to the contractual provisions |
of the financial instrument. The company holds basic financial instruments, which comprise cash at bank and in |
hand, trade and other debtors, borrowings, and trade and other creditors. The company has chosen to apply |
the measurement and recognition provisions of Section 11 Basic Financial Instruments. |
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Trade and other debtors |
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the |
effective interest method, less impairment losses for bad and doubtful debts except where the effect of |
discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for |
bad and doubtful debts. |
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Trade and other creditors |
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the |
effective interest method unless the effect of discounting would be immaterial, in which case they are stated |
at cost. |
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Cash and cash equivalents |
Cash and cash equivalents comprise cash at bank and in hand. |
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Critical accounting judgements and key sources of estimation uncertainty |
In the application of the Company's accounting policies above, management is required to make judgements, |
estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from |
other sources. The estimates and underlying assumptions are based on historical experience and other factors |
that are considered to be relevant. Actual results may differ from these estimates. |
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The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting |
estimates are recognised in the period in which the estimate is revised if the revision affects only that period, |
or in the period of the revision and future periods if the revision affects both current and future period. |
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Provisions |
The company accounts for provisions in accordance with FRS 102. There are currently no types of provision. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was NIL. |
TECHEVOLUTION LTD (REGISTERED NUMBER: 07395113) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1st November 2016 to 31st December 2017 |
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4. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1st November 2016 |
and 31st December 2017 |
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DEPRECIATION |
At 1st November 2016 |
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Charge for period |
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At 31st December 2017 |
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NET BOOK VALUE |
At 31st December 2017 |
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At 31st October 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Amounts owed by participating interests | 11,500 | - |
Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary | 1 | 1 | 1 |