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REGISTERED NUMBER: 02018020 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 November 2023

for

Teneo (UK) Limited

Teneo (UK) Limited (Registered number: 02018020)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Teneo (UK) Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Mr D R McAndrew
Mrs V Power
Mr C H Currie



SECRETARY: Mrs V Power



REGISTERED OFFICE: Jasmin House
Ayscough Street
West Marsh Industrial Estate
Grimsby
N E Lincolnshire
DN31 1TG



REGISTERED NUMBER: 02018020 (England and Wales)



BANKERS: Barclays Bank plc
Victoria Street
Grimsby
N E Lincolnshire
DN31 1DE

Teneo (UK) Limited (Registered number: 02018020)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 134,696 135,538
Investments 5 1,500 1,500
136,196 137,038

CURRENT ASSETS
Stocks 6 84,014 103,524
Debtors 7 102,152 136,929
Cash at bank and in hand 122,003 95,704
308,169 336,157
CREDITORS
Amounts falling due within one year 8 175,888 188,506
NET CURRENT ASSETS 132,281 147,651
TOTAL ASSETS LESS CURRENT
LIABILITIES

268,477

284,689

CREDITORS
Amounts falling due after more than one
year

9

(31,019

)

(36,574

)

PROVISIONS FOR LIABILITIES (864 ) (1,017 )
NET ASSETS 236,594 247,098

CAPITAL AND RESERVES
Called up share capital 10,302 10,302
Revaluation reserve 10 40,000 40,000
Capital redemption reserve 10 10,002 10,002
Retained earnings 10 176,290 186,794
SHAREHOLDERS' FUNDS 236,594 247,098

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Teneo (UK) Limited (Registered number: 02018020)

Balance Sheet - continued
30 November 2023


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 23 March 2024 and were signed on its behalf by:





Mr D R McAndrew - Director


Teneo (UK) Limited (Registered number: 02018020)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Teneo (UK) Limited 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 as modified by the revaluation of certain assets.

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

No depreciation is provided for on the buildings. It is the Company's practice to maintain these assets in a continual state of sound repair and to make improvements from time to time. The Directors consider that the lives of these assets are so long and the residual values (based upon prices prevailing at the time of acquisition) are so high that their depreciation is insignificant.

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.

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 5 (2022 - 5 ) .

Teneo (UK) Limited (Registered number: 02018020)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. TANGIBLE FIXED ASSETS
Improvements
Long to Plant and
leasehold property machinery
£    £    £   
COST OR VALUATION
At 1 December 2022 130,000 21,986 18,523
Additions - - -
At 30 November 2023 130,000 21,986 18,523
DEPRECIATION
At 1 December 2022 - 21,986 15,840
Charge for year - - 700
At 30 November 2023 - 21,986 16,540
NET BOOK VALUE
At 30 November 2023 130,000 - 1,983
At 30 November 2022 130,000 - 2,683

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST OR VALUATION
At 1 December 2022 2,380 67,106 239,995
Additions - 1,332 1,332
At 30 November 2023 2,380 68,438 241,327
DEPRECIATION
At 1 December 2022 2,380 64,251 104,457
Charge for year - 1,474 2,174
At 30 November 2023 2,380 65,725 106,631
NET BOOK VALUE
At 30 November 2023 - 2,713 134,696
At 30 November 2022 - 2,855 135,538

Cost or valuation at 30 November 2023 is represented by:

Improvements
Long to Plant and
leasehold property machinery
£    £    £   
Valuation in 1993 40,000 - -
Cost 90,000 21,986 18,523
130,000 21,986 18,523

Fixtures
and Computer
fittings equipment Totals
£    £    £   
Valuation in 1993 - - 40,000
Cost 2,380 68,438 201,327
2,380 68,438 241,327

Teneo (UK) Limited (Registered number: 02018020)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
30.11.23 30.11.22
£    £   
P.P.M.A. Limited Shares 100 100
Currie Labelling Solutions Limited Shares 1,400 1,400
1,500 1,500

P.P.M.A. Limited is the UK Trade Association for the suppliers of labelling and packaging equipment.

Teneo (UK) Limited is a member of the above trade association.

6. STOCKS
30.11.23 30.11.22
£    £   
Stocks 84,014 103,524

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 78,400 109,087
Prepayments 23,752 27,842
102,152 136,929

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 5,556 5,556
Trade creditors 108,523 115,419
Amounts owed to group undertakings 1,700 1,700
Corporation Tax 16,201 14,526
Social security and other taxes 1,029 980
Pension Payments -Nest 1,044 1,022
VAT 8,856 9,408
Other creditors 15,780 15,509
Directors' current accounts 14,346 21,000
Accruals 2,853 3,386
175,888 188,506

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans - 2-5 years 22,222 22,222
Bank loans more 5 yr by instal 8,797 14,352
31,019 36,574

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 8,797 14,352

Teneo (UK) Limited (Registered number: 02018020)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

10. RESERVES
Capital
Retained Revaluation redemption
earnings reserve reserve Totals
£    £    £    £   

At 1 December 2022 186,794 40,000 10,002 236,796
Profit for the year 60,800 60,800
Dividends (71,304 ) (71,304 )
At 30 November 2023 176,290 40,000 10,002 226,292

11. ULTIMATE CONTROLLING PARTY

The Company is controlled by Mr D McAndrew, who owns 100% of the issued voting share capital.