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REGISTERED NUMBER: 12092128 (England and Wales)










Financial Statements

for the Year Ended 31 December 2022

for

Teksan UK Ltd

Teksan UK Ltd (Registered number: 12092128)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Teksan UK Ltd

Company Information
for the Year Ended 31 December 2022







DIRECTORS: B Basegmezler
D Ar
Y Teksan
E Ata Erduran





SECRETARY: E M Emre





REGISTERED OFFICE: Unit 8 Frankley Industrial Estate
Tay Road
Frankley
Birmingham
B45 0LD





REGISTERED NUMBER: 12092128 (England and Wales)





AUDITORS: Smith & Goulding Limited
2 Southport Road
Chorley
Lancashire
PR7 1LB

Teksan UK Ltd (Registered number: 12092128)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,017 12,198

CURRENT ASSETS
Stocks 441,778 459,628
Debtors 5 448,789 131,004
Cash at bank 582,185 399,283
1,472,752 989,915
CREDITORS
Amounts falling due within one year 6 963,696 915,103
NET CURRENT ASSETS 509,056 74,812
TOTAL ASSETS LESS CURRENT
LIABILITIES

523,073

87,010

PROVISIONS FOR LIABILITIES 3,504 2,318
NET ASSETS 519,569 84,692

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 519,568 84,691
SHAREHOLDERS' FUNDS 519,569 84,692

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by:





B Basegmezler - Director


Teksan UK Ltd (Registered number: 12092128)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Teksan UK Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern
The company meets its day to day working capital requirements via its trading activities and extended credit terms provided by its parent company, which is also its main supplier. The Directors have obtained assurances of the continued support of the parent company for at least 12 months from the date of signing these accounts.

Related party exemption
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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.


Teksan UK Ltd (Registered number: 12092128)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 January 2022 19,117 1,695 20,812
Additions 1,550 3,680 5,230
At 31 December 2022 20,667 5,375 26,042
DEPRECIATION
At 1 January 2022 7,828 786 8,614
Charge for year 2,952 459 3,411
At 31 December 2022 10,780 1,245 12,025
NET BOOK VALUE
At 31 December 2022 9,887 4,130 14,017
At 31 December 2021 11,289 909 12,198

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 413,847 102,026
Other debtors 13,950 13,950
Prepayments 20,992 15,028
448,789 131,004

Teksan UK Ltd (Registered number: 12092128)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade creditors 434,981 799,436
Taxation 103,289 18,616
Social security and other taxes - 440
VAT 383,170 86,245
Net wages - 1,820
Pension fund 139 127
Accrued expenses 42,117 8,419
963,696 915,103

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.22 31.12.21
£    £   
Within one year 26,356 20,925
Between one and five years 23,840 36,619
50,196 57,544

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Kieran Brophy ACA (Senior Statutory Auditor)
for and on behalf of Smith & Goulding Limited

9. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Teksan Jenerator Elektrik Sanayi ve Ticaret A.S., incorporated in Turkey and located at Yenidogan Mahallesi, Edebali Caddesi No: 12, 34791 Sancaktepe, Istanbul, Turkey.