IRIS Accounts Production v23.4.0.336 09613458 Board of Directors 1.1.23 31.12.23 31.12.23 8.4.24 false true false false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh096134582022-12-31096134582023-12-31096134582023-01-012023-12-31096134582021-12-31096134582022-01-012022-12-31096134582022-12-3109613458ns15:EnglandWales2023-01-012023-12-3109613458ns14:PoundSterling2023-01-012023-12-3109613458ns10:Director12023-01-012023-12-3109613458ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3109613458ns10:SmallEntities2023-01-012023-12-3109613458ns10:Audited2023-01-012023-12-3109613458ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3109613458ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3109613458ns10:FullAccounts2023-01-012023-12-310961345812023-01-012023-12-3109613458ns10:Director22023-01-012023-12-3109613458ns10:Director32023-01-012023-12-3109613458ns10:Director42023-01-012023-12-3109613458ns10:RegisteredOffice2023-01-012023-12-3109613458ns5:CurrentFinancialInstruments2023-12-3109613458ns5:CurrentFinancialInstruments2022-12-3109613458ns5:Non-currentFinancialInstruments2023-12-3109613458ns5:Non-currentFinancialInstruments2022-12-3109613458ns5:ShareCapital2023-12-3109613458ns5:ShareCapital2022-12-3109613458ns5:RetainedEarningsAccumulatedLosses2023-12-3109613458ns5:RetainedEarningsAccumulatedLosses2022-12-3109613458ns5:NetGoodwill2023-01-012023-12-3109613458ns5:NetGoodwill2022-12-3109613458ns5:NetGoodwill2023-12-3109613458ns5:NetGoodwill2022-12-3109613458ns5:PlantMachinery2022-12-3109613458ns5:PlantMachinery2023-01-012023-12-3109613458ns5:PlantMachinery2023-12-3109613458ns5:PlantMachinery2022-12-3109613458ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3109613458ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3109613458ns5:WithinOneYear2023-12-3109613458ns5:WithinOneYear2022-12-3109613458ns5:BetweenOneFiveYears2023-12-3109613458ns5:BetweenOneFiveYears2022-12-3109613458ns5:AllPeriods2023-12-3109613458ns5:AllPeriods2022-12-310961345812023-01-012023-12-31
REGISTERED NUMBER: 09613458 (England and Wales)















TEGOS SYSTEMS LTD

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023






TEGOS SYSTEMS LTD (REGISTERED NUMBER: 09613458)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


TEGOS SYSTEMS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: J Fazackerley
A Kullmann
R Linnemann
Tegos Gmbh Dortmund





REGISTERED OFFICE: 76 King Street
Manchester
M2 4NH





REGISTERED NUMBER: 09613458 (England and Wales)





AUDITORS: DJH Mitten Clarke Audit Limited
Accountants
Statutory Auditors
The Exchange
5 Bank Street
Bury
BL9 0DN

TEGOS SYSTEMS LTD (REGISTERED NUMBER: 09613458)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 663,029 884,043
Property, plant and equipment 5 40,131 9,902
703,160 893,945

CURRENT ASSETS
Inventories 40,000 29,303
Debtors 6 1,190,698 1,090,594
Cash at bank and in hand 657,086 62,586
1,887,784 1,182,483
CREDITORS
Amounts falling due within one year 7 (1,428,278 ) (1,119,394 )
NET CURRENT ASSETS 459,506 63,089
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,162,666

957,034

CREDITORS
Amounts falling due after more than one
year

8

(679,479

)

(903,191

)

PROVISIONS FOR LIABILITIES (561 ) (561 )
NET ASSETS 482,626 53,282

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 482,426 53,082
SHAREHOLDERS' FUNDS 482,626 53,282

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 8 April 2024 and were signed on its behalf by:





J Fazackerley - Director


TEGOS SYSTEMS LTD (REGISTERED NUMBER: 09613458)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Tegos Systems Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 09613458. The registered office is 76 King Street, Manchester, M2 4NH.

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 directors have considered the business risks and believe that the company is well placed to manage its risks successfully thus they have adopted the going concern basis of accounting in preparing the financial statements.

Revenue
Revenue comprises the aggregate of the fair value of the sale of goods and services provided, net of value-added tax, rebates and discounts. Revenue is recognised as follows:-

Sale of goods
Sales of goods are recognised when the company has delivered products to the customer, the customer has accepted the products and collectability of the related receivables is fairly stated.

Sale of services
Service revenues are recognised as those services are provided to customers.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment - 25% on cost.

The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.

Inventories
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

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 statement of financial position date.


TEGOS SYSTEMS LTD (REGISTERED NUMBER: 09613458)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


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

Foreign currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 the income statement in the period to which they relate.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

Critical accounting estimates and judgements
In the application of the company's accounting policies, the directors are required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates.

The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

Estimating the useful economic life of goodwill are considered key judgement in calculating an appropriate amortisation charge.

In categorising leases as finance or operating leases, the directors make judgements as to whether the significant risks and rewards of ownership have transferred to the company as lessee.

Making judgement based on historical experience on the level of provision required for bad debts. Further information received after the statement of financial position date may impact on the level of provision required.

TEGOS SYSTEMS LTD (REGISTERED NUMBER: 09613458)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2022 - 24 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 2,134,561
AMORTISATION
At 1 January 2023 1,250,518
Charge for year 221,014
At 31 December 2023 1,471,532
NET BOOK VALUE
At 31 December 2023 663,029
At 31 December 2022 884,043

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 January 2023 28,465
Additions 37,345
At 31 December 2023 65,810
DEPRECIATION
At 1 January 2023 18,563
Charge for year 7,116
At 31 December 2023 25,679
NET BOOK VALUE
At 31 December 2023 40,131
At 31 December 2022 9,902

TEGOS SYSTEMS LTD (REGISTERED NUMBER: 09613458)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,009,289 890,489
Other debtors 181,409 200,105
1,190,698 1,090,594

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 75,260 57,711
Amounts owed to group undertakings 267,464 468,079
Taxation and social security 432,332 142,320
Other creditors 653,222 451,284
1,428,278 1,119,394

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Amounts owed to group undertakings 679,479 903,191

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 85,246 52,507
Between one and five years 88,460 89,949
173,706 142,456

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

The Report of the Auditors was unqualified.

Richard Taylor (Senior Statutory Auditor)
for and on behalf of DJH Mitten Clarke Audit Limited

11. POST BALANCE SHEET EVENTS

Since the year end a divdend has been declared for £196,000.