Caseware UK (AP4) 2022.0.179 2022.0.179 2023-12-312023-12-312023-01-01No description of principal activityfalse3834truetrue 01688780 2023-01-01 2023-12-31 01688780 2022-01-01 2022-12-31 01688780 2023-12-31 01688780 2022-12-31 01688780 c:Director2 2023-01-01 2023-12-31 01688780 d:Buildings 2023-01-01 2023-12-31 01688780 d:Buildings 2023-12-31 01688780 d:Buildings 2022-12-31 01688780 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01688780 d:PlantMachinery 2023-01-01 2023-12-31 01688780 d:PlantMachinery 2023-12-31 01688780 d:PlantMachinery 2022-12-31 01688780 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01688780 d:FurnitureFittings 2023-01-01 2023-12-31 01688780 d:FurnitureFittings 2023-12-31 01688780 d:FurnitureFittings 2022-12-31 01688780 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01688780 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01688780 d:CurrentFinancialInstruments 2023-12-31 01688780 d:CurrentFinancialInstruments 2022-12-31 01688780 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 01688780 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 01688780 d:ShareCapital 2023-12-31 01688780 d:ShareCapital 2022-12-31 01688780 d:RetainedEarningsAccumulatedLosses 2023-12-31 01688780 d:RetainedEarningsAccumulatedLosses 2022-12-31 01688780 c:FRS102 2023-01-01 2023-12-31 01688780 c:Audited 2023-01-01 2023-12-31 01688780 c:FullAccounts 2023-01-01 2023-12-31 01688780 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01688780 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Company registration number: 01688780







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


TESTO LIMITED






































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TESTO LIMITED
REGISTERED NUMBER:01688780



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,067,024
1,111,352

  
1,067,024
1,111,352

Current assets
  

Stocks
  
395,477
413,167

Debtors: amounts falling due within one year
 5 
1,884,755
1,279,403

Cash at bank and in hand
  
641,876
383,996

  
2,922,108
2,076,566

Creditors: amounts falling due within one year
 6 
(2,222,588)
(1,564,564)

Net current assets
  
 
 
699,520
 
 
512,002

Total assets less current liabilities
  
1,766,544
1,623,354

Provisions for liabilities
  

Deferred tax
  
(18,705)
(18,818)

  
 
 
(18,705)
 
 
(18,818)

Net assets
  
1,747,839
1,604,536


Capital and reserves
  

Called up share capital 
  
160,000
160,000

Profit and loss account
  
1,587,839
1,444,536

  
1,747,839
1,604,536


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: 




M Windsor
Director

Date: 5 February 2024

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 


TESTO LIMITED
 


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

1.


General information

Testo Limited is a private company, limited by shares, incorporated in England and Wales. The address of the registered office is Cheriton House, Newman Lane, Alton, Hampshire, GU34 2QJ.
The financial statements are presented in GBP, which is the functional currency of the company, and rounded to the nearest pound.

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.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 2

 


TESTO LIMITED
 


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

2.Accounting policies (continued)

 
2.5

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 reporting 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 reporting 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 reporting date.

 
2.6

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.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2% on cost of buildings
Plant and machinery
-
20% on cost
Fixtures and fittings
-
20% - 33% on cost

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.

Page 3

 


TESTO LIMITED
 


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

2.Accounting policies (continued)

 
2.7

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 weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting 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.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

 
2.12

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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash
Page 4

 


TESTO LIMITED
 


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

2.Accounting policies (continued)


2.12
Financial instruments (continued)

equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 38 (2022 - 34).


4.


Tangible fixed assets





Freehold property
Plant and machinery
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 January 2023
1,389,349
26,019
323,975
1,739,343


Additions
-
-
61,237
61,237



At 31 December 2023

1,389,349
26,019
385,212
1,800,580



Depreciation


At 1 January 2023
379,276
25,527
223,188
627,991


Charge for the year on owned assets
18,501
147
86,917
105,565



At 31 December 2023

397,777
25,674
310,105
733,556



Net book value



At 31 December 2023
991,572
345
75,107
1,067,024



At 31 December 2022
1,010,073
492
100,787
1,111,352

Page 5

 


TESTO LIMITED
 


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

5.


Debtors

2023
2022
£
£


Trade debtors
1,811,196
1,253,668

Amounts owed by group undertakings
26,516
2,124

Other debtors
167
-

Prepayments and accrued income
46,876
23,611

1,884,755
1,279,403



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Payments received on account
47,276
32,834

Trade creditors
143,925
91,463

Amounts owed to group undertakings
1,223,068
685,719

Corporation tax
67,226
68,602

Other taxation and social security
406,882
408,470

Other creditors
15,100
-

Accruals and deferred income
319,111
277,476

2,222,588
1,564,564



7.


Capital commitments


At 31 December 2023 the Company had capital commitments as follows:

2023
2022
£
£


Contracted for but not provided in these financial statements
53,906
-

53,906
-


8.


Pension commitments

The company operates a defined contribution pension scheme. The pension cost charge for the period represents contributions payable by the company to the scheme and amounted to £83,697 (2022: £84,308). Outstanding pension contributions included within creditors at the reporting date were £14,767 (2022: £Nil).

Page 6

 


TESTO LIMITED
 


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

9.


Related party transactions

Under the provisions of Financial Reporting Standard 102 section 33, the company is exempt from disclosing transactions or balances with other wholly owned group companies.


10.


Controlling party

The Company's immediate parent undertaking is Testo GmbH. The ultimate parent undertaking is Testo SE & Co. KGaA, a company incorporated in Germany.
Testo Limited are included within the consolidated financial statements of Testo SE & Co KGaA and these may be requested from the registered office at Testo SE & Co. KGaA, Celsiusstraße 2, 79822 Titisee-Neustadt, Germany.


11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 6 February 2024 by Andrew Galliers FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 7