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REGISTERED NUMBER: 12434234 (England and Wales)















Testo Industrial Services Ltd

Audited Financial Statements for the Year Ended 31st December 2023






Testo Industrial Services Ltd (Registered number: 12434234)

Contents of the Financial Statements
for the Year Ended 31st December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Testo Industrial Services Ltd

Company Information
for the Year Ended 31st December 2023







DIRECTORS: R Fohrenbacher
P D Jordan





REGISTERED OFFICE: Stanley House
Monk Sherborne Road
Ramsdell
Tadley
Hampshire
RG26 5PR





REGISTERED NUMBER: 12434234 (England and Wales)





AUDITORS: Sheen Stickland
Chartered Accountants
Statutory Auditors
2 Oriel Court
Omega Park
Alton
Hampshire
GU34 2YT

Testo Industrial Services Ltd (Registered number: 12434234)

Balance Sheet
31st December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 139,226 168,698

CURRENT ASSETS
Stocks 1,891 1,917
Debtors 5 188,469 151,881
Cash at bank 280,462 68,457
470,822 222,255
CREDITORS
Amounts falling due within one year 6 (203,250 ) (116,335 )
NET CURRENT ASSETS 267,572 105,920
TOTAL ASSETS LESS CURRENT
LIABILITIES

406,798

274,618

CREDITORS
Amounts falling due after more than one year 7 (1,405,000 ) (967,500 )
NET LIABILITIES (998,202 ) (692,882 )

CAPITAL AND RESERVES
Called up share capital 9 50,000 50,000
Retained earnings 10 (1,048,202 ) (742,882 )
SHAREHOLDERS' FUNDS (998,202 ) (692,882 )

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 2nd February 2024 and were signed on its behalf by:





P D Jordan - Director


Testo Industrial Services Ltd (Registered number: 12434234)

Notes to the Financial Statements
for the Year Ended 31st December 2023


1. STATEMENT OF COMPLIANCE

Testo Industrial Services Limited is a private company, limited by shares, incorporated in England and Wales. The address of the registered office is Stanley House Monk Sherborne Road, Ramsdell, Tadley, Hampshire, RG26 5PR. The registration number is 12434234.

The financial statements are presented in sterling, which is the functional currency of the company and rounded to the nearest pound.

2. ACCOUNTING POLICIES

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

The financial statements have been prepared on the going concern basis due to the ongoing support from the parent company Testo SE & Co. KGaA.

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.
Improvements to leasehold - 20% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost

Where assets are acquired second hand then the items are depreciated over their remaining useful life.

Stocks
Finished goods have been valued at the lower of moving average price and net realisable value. Moving average price is the total cost incurred in bringing each product to its present location and condition divided by the number of units held. Net realisable value is based on the estimated normal selling price, less further costs expected to be incurred to completion and disposal.

Testo Industrial Services Ltd (Registered number: 12434234)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument.

Cash and cash equivalents
These comprise cash at bank and other short term liquid investments.

Debtors
Short term debtors are stated at their nominal value. Loans receivable are measured initially at their nominal value and are measured subsequently at amortised cost using the effective interest method. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and loss account when there is objective evidence that the asset is impaired.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Operating leases
Operating lease payments are charged to the profit and loss account over a systemic basis in which the benefit is incurred.

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.

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.

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 9 (2022 - 10 ) .

Testo Industrial Services Ltd (Registered number: 12434234)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST
At 1st January 2023 67,950 198,151 3,735 269,836
Additions - 32,656 5,095 37,751
At 31st December 2023 67,950 230,807 8,830 307,587
DEPRECIATION
At 1st January 2023 30,200 69,961 977 101,138
Charge for year 22,650 43,741 832 67,223
At 31st December 2023 52,850 113,702 1,809 168,361
NET BOOK VALUE
At 31st December 2023 15,100 117,105 7,021 139,226
At 31st December 2022 37,750 128,190 2,758 168,698

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 97,993 75,073
Amounts owed by group undertakings 16,675 15,014
Other debtors 14,352 2,095
Prepayments and accrued income 39,449 39,699
168,469 131,881

Amounts falling due after more than one year:
Other debtors 20,000 20,000

Aggregate amounts 188,469 151,881

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 20,465 10,383
Amounts owed to group undertakings 126,151 61,449
VAT 19,206 12,121
Other creditors 3,439 450
Accruals and deferred income 33,989 31,932
203,250 116,335

Testo Industrial Services Ltd (Registered number: 12434234)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Amounts owed to group undertakings 1,405,000 967,500

Included in the amount owing to Group undertakings are unsecured loans from the parent company, at 1% interest accruing on the capital amount of £900,000, 1.8% accruing on another facility of £150,000, and 3.5% accruing on another facility of £550,000. The loans are repaid in quarterly instalments up to 31 December 2032. As at 31st December 2023 the outstanding balance was £1,517,500 (2022: £1,025,000), with £112,500 (2022: £57,500) due within 1 year and £1,405,000 (2022: £967,500) due after more than 1 year.

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 88,365 89,901
Between one and five years 96,256 184,621
184,621 274,522

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50,000 Ordinary 1 50,000 50,000

10. RESERVES
Retained
earnings
£   

At 1st January 2023 (742,882 )
Deficit for the year (305,320 )
At 31st December 2023 (1,048,202 )

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

The Report of the Auditors was unqualified.

David Sanders (Senior Statutory Auditor)
for and on behalf of Sheen Stickland

12. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements - 15,172

Testo Industrial Services Ltd (Registered number: 12434234)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


13. RELATED PARTY DISCLOSURES

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 parent company and wholly owned subsidiaries within the group.

14. ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY

The Company's immediate parent undertaking is Testo Industrial Services GmbH. The ultimate parent undertaking at 31st December 2023 is Testo SE & Co. KGaA, a company incorporated in Germany.

Testo Industrial Services Limited are included within the consolidated financial statements of Testo SE & Co. KGaA and these may be requested from the registered office at Testo SE & Co. KGaA, Celsiusstraße 2, 79822, Titisee-Neustadt, Germany.