Caseware UK (AP4) 2023.0.135 2023.0.135 2023-05-312023-05-31No description of principal activitytrue2022-06-01false21trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07123580 2022-06-01 2023-05-31 07123580 2021-06-01 2022-05-31 07123580 2023-05-31 07123580 2022-05-31 07123580 2021-06-01 07123580 c:Director1 2022-06-01 2023-05-31 07123580 d:PlantMachinery 2022-06-01 2023-05-31 07123580 d:PlantMachinery 2023-05-31 07123580 d:PlantMachinery 2022-05-31 07123580 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 07123580 d:MotorVehicles 2022-06-01 2023-05-31 07123580 d:MotorVehicles 2023-05-31 07123580 d:MotorVehicles 2022-05-31 07123580 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 07123580 d:OfficeEquipment 2022-06-01 2023-05-31 07123580 d:OfficeEquipment 2023-05-31 07123580 d:OfficeEquipment 2022-05-31 07123580 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 07123580 d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 07123580 d:CurrentFinancialInstruments 2023-05-31 07123580 d:CurrentFinancialInstruments 2022-05-31 07123580 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 07123580 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 07123580 d:ShareCapital 2023-05-31 07123580 d:ShareCapital 2022-05-31 07123580 d:ShareCapital 2021-06-01 07123580 d:RetainedEarningsAccumulatedLosses 2022-06-01 2023-05-31 07123580 d:RetainedEarningsAccumulatedLosses 2023-05-31 07123580 d:RetainedEarningsAccumulatedLosses 2021-06-01 2022-05-31 07123580 d:RetainedEarningsAccumulatedLosses 2022-05-31 07123580 d:RetainedEarningsAccumulatedLosses 2021-06-01 07123580 c:FRS102 2022-06-01 2023-05-31 07123580 c:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 07123580 c:FullAccounts 2022-06-01 2023-05-31 07123580 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 07123580 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 07123580 d:AcceleratedTaxDepreciationDeferredTax 2022-05-31 07123580 2 2022-06-01 2023-05-31 07123580 e:PoundSterling 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure

Registered number: 07123580










Tekk CBS Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 May 2023

 
Tekk CBS Limited
 
  
Chartered accountants' report to the Director on the preparation of the unaudited statutory financial statements of Tekk CBS Limited for the year ended 31 May 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tekk CBS Limited for the year ended 31 May 2023 which comprise  the Balance sheet, the Statement of changes in equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Director of Tekk CBS Limited in accordance with the terms of our engagement letter dated 15 January 2020Our work has been undertaken solely to prepare for your approval the financial statements of Tekk CBS Limited  and state those matters that we have agreed to state to the Director of Tekk CBS Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tekk CBS Limited and its Director for our work or for this report. 

It is your duty to ensure that Tekk CBS Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Tekk CBS Limited. You consider that Tekk CBS Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Tekk CBS Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  




Kreston Reeves LLP
Chartered Accountants
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
Date:
12 February 2024
Page 1

 
Tekk CBS Limited
Registered number: 07123580

Balance sheet
As at 31 May 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
9,712
11,229

  
9,712
11,229

Current assets
  

Stocks
 5 
161,920
30,500

Debtors: amounts falling due within one year
 6 
114,828
369,145

Cash at bank and in hand
 7 
240,511
84,184

  
517,259
483,829

Creditors: amounts falling due within one year
 8 
(310,746)
(331,882)

Net current assets
  
 
 
206,513
 
 
151,947

Total assets less current liabilities
  
216,225
163,176

Provisions for liabilities
  

Deferred tax
 9 
(2,428)
(2,865)

  
 
 
(2,428)
 
 
(2,865)

Net assets
  
213,797
160,311


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
213,697
160,211

  
213,797
160,311


The Director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


T P Moody
Director
Date: 12 February 2024

Page 2

 
Tekk CBS Limited
 

Statement of changes in equity
For the year ended 31 May 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 June 2021
100
141,025
141,125



Profit for the year
-
49,186
49,186

Dividends: Equity capital
-
(30,000)
(30,000)



At 1 June 2022
100
160,211
160,311



Profit for the year
-
96,686
96,686

Dividends: Equity capital
-
(43,200)
(43,200)


At 31 May 2023
100
213,697
213,797


The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
Tekk CBS Limited
 

 
Notes to the financial statements
For the year ended 31 May 2023

1.


General information

Tekk CBS Limited is a private company, limited by shares and incorporated in England and Wales, registration number 07123580. The registered office address is Springfield House, Springfield Road, Horsham, West Sussex, England, RH12 2RG .

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue 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:
the amount of revenue 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.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
Tekk CBS Limited
 

 
Notes to the financial statements
For the year ended 31 May 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Office equipment
-
20% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

 

 
2.8

Creditors

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

Page 5

 
Tekk CBS Limited
 

 
Notes to the financial statements
For the year ended 31 May 2023

2.Accounting policies (continued)

 
2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.11

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

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 and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.12

Leased assets: the company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.13

Pensions

Defined contribution pension plan

The company operates a defined contribution plan 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 the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.14

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 6

 
Tekk CBS Limited
 

 
Notes to the financial statements
For the year ended 31 May 2023

2.Accounting policies (continued)

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.16

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

  
2.17

Long Term Contracts

Profit on long-term contracts is taken as the work carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs incurred to date bear to total expected costs for that contract. Revenues derived from variations on contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year in which they are first foreseen.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 1).

Page 7

 
Tekk CBS Limited
 

 
Notes to the financial statements
For the year ended 31 May 2023

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 June 2022
12,553
25,667
8,424
46,644


Additions
500
-
492
992



At 31 May 2023

13,053
25,667
8,916
47,636



Depreciation


At 1 June 2022
8,933
20,251
6,231
35,415


Charge for the year on owned assets
618
1,354
537
2,509



At 31 May 2023

9,551
21,605
6,768
37,924



Net book value



At 31 May 2023
3,502
4,062
2,148
9,712



At 31 May 2022
3,620
5,416
2,193
11,229

Page 8

 
Tekk CBS Limited
 

 
Notes to the financial statements
For the year ended 31 May 2023

5.


Stocks

2023
2022
£
£

Work in progress
161,920
30,500

161,920
30,500



6.


Debtors

2023
2022
£
£


Trade debtors
15,572
143,018

Prepayments and accrued income
99,256
226,127

114,828
369,145



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
240,511
84,184

240,511
84,184



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
42,572
163,674

Corporation tax
24,737
12,862

Other taxation and social security
33,808
57,661

Obligations under finance lease and hire purchase contracts
-
2,388

Other creditors
188,894
91,117

Accruals and deferred income
20,735
4,180

310,746
331,882


Page 9

 
Tekk CBS Limited
 

 
Notes to the financial statements
For the year ended 31 May 2023

9.


Deferred taxation




2023


£






At beginning of year
(2,865)


Charged to profit or loss
437



At end of year
(2,428)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(2,428)
(2,865)

(2,428)
(2,865)


10.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company  in an independently administered fund. The pension cost charge represents contributions payable by the company  to the fund and amounted to £7,200 (2022 : £7,200). 


Page 10