Registered number
03705682
TECHNOINFO LIMITED
Filleted Accounts
28 February 2017
TECHNOINFO LIMITED
Registered number: 03705682
Balance Sheet
as at 28 February 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 3 75,821 26,974
Current assets
Stocks 302,672 278,137
Debtors 4 120,916 294,037
Cash at bank and in hand 524,100 888,109
947,688 1,460,283
Creditors: amounts falling due within one year 5 (753,114) (1,147,938)
Net current assets 194,574 312,345
Net assets 270,395 339,319
Capital and reserves
Called up share capital 2 2
Profit and loss account 270,393 339,317
Shareholders' funds 270,395 339,319
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ms Natalia Mikulinskaya
Director
Approved by the board on 30 November 2017
TECHNOINFO LIMITED
Notes to the Accounts
for the year ended 28 February 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% straight line
Motor Vehicle 25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2017 2016
Number Number
Average number of persons employed by the company 18 18
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2016 132,520 - 132,520
Additions 1,899 69,792 71,691
At 28 February 2017 134,419 69,792 204,211
Depreciation
At 1 March 2016 105,546 - 105,546
Charge for the year 12,375 10,469 22,844
At 28 February 2017 117,921 10,469 128,390
Net book value
At 28 February 2017 16,498 59,323 75,821
At 29 February 2016 26,974 - 26,974
4 Debtors 2017 2016
£ £
Trade debtors 95,955 273,114
Other debtors 24,961 20,923
120,916 294,037
5 Creditors: amounts falling due within one year 2017 2016
£ £
Trade creditors 274,518 78,582
Corporation tax 5,549 14,747
Other creditors 473,047 1,054,609
753,114 1,147,938
6 Related party transactions
During the year dividends totalling £64,000 were paid to the directors N Mikulinskaya and Evgeny Mikulinsky.
7 Other information
TECHNOINFO LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
No.1 Olympic Way
Wembley
Middlesex
HA9 0NP
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