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REGISTERED NUMBER: 00854100 (England and Wales)

















Unaudited Financial Statements

For The Year Ended 31 October 2023

for

Teknis Limited

Teknis Limited (Registered number: 00854100)

Contents of the Financial Statements
For The Year Ended 31 October 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Teknis Limited

Company Information
For The Year Ended 31 October 2023







DIRECTORS: Mr D Thompson
Mrs D Biswell





REGISTERED OFFICE: 10-12 Mulberry Green
Old Harlow
Essex
CM17 0ET





REGISTERED NUMBER: 00854100 (England and Wales)





ACCOUNTANTS: Giess Wallis Crisp LLP
Chartered Accountants
10/12 Mulberry Green
Old Harlow
Essex
CM17 0ET

Teknis Limited (Registered number: 00854100)

Statement of Financial Position
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 102,788 102,554
102,788 102,554

CURRENT ASSETS
Stocks 6 270,981 268,625
Debtors 7 424,887 300,729
Cash at bank 886,396 905,830
1,582,264 1,475,184
CREDITORS
Amounts falling due within one year 8 438,047 529,928
NET CURRENT ASSETS 1,144,217 945,256
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,247,005

1,047,810

PROVISIONS FOR LIABILITIES 9 6,247 6,194
NET ASSETS 1,240,758 1,041,616

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings 1,239,758 1,040,616
SHAREHOLDERS' FUNDS 1,240,758 1,041,616

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

Teknis Limited (Registered number: 00854100)

Statement of Financial Position - continued
31 October 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 December 2023 and were signed on its behalf by:




Mr D Thompson - Director



Mrs D Biswell - Director


Teknis Limited (Registered number: 00854100)

Notes to the Financial Statements
For The Year Ended 31 October 2023


1. STATUTORY INFORMATION

Teknis 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.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 10% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 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.

Teknis Limited (Registered number: 00854100)

Notes to the Financial Statements - continued
For The Year Ended 31 October 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11:'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues ' of FRS 102 to all of its financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade debtors and creditors.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors
Short terms debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by current accounts, 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.

Creditors
Short term creditors are measured at the transaction price.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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
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.

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 15 (2022 - 13 ) .

Teknis Limited (Registered number: 00854100)

Notes to the Financial Statements - continued
For The Year Ended 31 October 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 44,000
AMORTISATION
At 1 November 2022
and 31 October 2023 44,000
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 November 2022 70,365 23,046 82,374 175,785
Additions 7,500 583 91,240 99,323
Disposals - - (82,374 ) (82,374 )
At 31 October 2023 77,865 23,629 91,240 192,734
DEPRECIATION
At 1 November 2022 44,888 21,428 6,915 73,231
Charge for year 6,661 1,762 22,071 30,494
Eliminated on disposal - - (13,779 ) (13,779 )
At 31 October 2023 51,549 23,190 15,207 89,946
NET BOOK VALUE
At 31 October 2023 26,316 439 76,033 102,788
At 31 October 2022 25,477 1,618 75,459 102,554


6. STOCKS
2023 2022
£    £   
Stocks 270,981 268,625

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 412,158 286,043
Other debtors 12,729 14,686
424,887 300,729

Teknis Limited (Registered number: 00854100)

Notes to the Financial Statements - continued
For The Year Ended 31 October 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 231,121 189,655
Taxation and social security 172,751 112,595
Other creditors 34,175 227,678
438,047 529,928

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 6,247 6,194

Deferred
tax
£   
Balance at 1 November 2022 6,194
Charge to Statement of Income and Retained Earnings during year 53
Balance at 31 October 2023 6,247

10. CALLED UP SHARE CAPITAL

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

11. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements 63,644 -

12. ULTIMATE PARENT COMPANY

Astat Limited is the ultimate controlling parent undertaking.