2022-04-012023-03-312023-03-31false04808013Tekbag UK 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Tekbag UK Limited

(formerly TEKBAG U.K. LIMITED)

Registered Number
04808013
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

Tekbag UK Limited
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

B Skirrow
S E Skirrow

Registered Address

43 Main Street
Egremont
CA22 2AD

Registered Number

04808013 (England and Wales)
Tekbag UK Limited
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets5316372
316372
Current assets
Stocks13,68414,076
Debtors17,33028,572
Cash at bank and on hand6,03113,393
37,04556,041
Creditors amounts falling due within one year(29,821)(22,976)
Net current assets (liabilities)7,22433,065
Total assets less current liabilities7,54033,437
Creditors amounts falling due after one year(30,714)(32,500)
Provisions for liabilities(60)(71)
Net assets(23,234)866
Capital and reserves
Called up share capital100100
Profit and loss account(23,334)766
Shareholders' funds(23,234)866
The financial statements were approved and authorised for issue by the Board of Directors on 22 December 2023, and are signed on its behalf by:
B Skirrow
Director
Registered Company No. 04808013
Tekbag UK Limited
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery15
Stocks policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Government grants and other government assistance policy
Government grants recognised in the financial statements correspond to the assistance arising from the COVID 19 pandemic. The grants have been claimed under the Job Retention Scheme relating to the amounts paid via the company's payroll to its furloughed employees. Grant income is recognised on a cash basis.
4.Employee information

20232022
Average number of employees during the year11
5.Property, plant and equipment

Total

£
Cost or valuation
At 01 April 221,321
At 31 March 231,321
Depreciation and impairment
At 01 April 22949
Charge for year56
At 31 March 231,005
Net book value
At 31 March 23316
At 31 March 22372