Tekh Limited 12194357 false 2022-10-01 2023-09-30 2023-09-30 The principal activity of the company is that of the provision of consultancy services. Digita Accounts Production Advanced 6.30.9574.0 true 12194357 2022-10-01 2023-09-30 12194357 2023-09-30 12194357 bus:OrdinaryShareClass1 2023-09-30 12194357 bus:OrdinaryShareClass2 2023-09-30 12194357 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:CurrentFinancialInstruments 2023-09-30 12194357 core:CurrentFinancialInstruments 2023-09-30 12194357 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 12194357 core:Non-currentFinancialInstruments 2023-09-30 12194357 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 12194357 core:FurnitureFittingsToolsEquipment 2023-09-30 12194357 core:MotorVehicles 2023-09-30 12194357 bus:SmallEntities 2022-10-01 2023-09-30 12194357 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 12194357 bus:FullAccounts 2022-10-01 2023-09-30 12194357 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 12194357 bus:RegisteredOffice 2022-10-01 2023-09-30 12194357 bus:Director1 2022-10-01 2023-09-30 12194357 bus:OrdinaryShareClass1 2022-10-01 2023-09-30 12194357 bus:OrdinaryShareClass2 2022-10-01 2023-09-30 12194357 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 12194357 core:FurnitureFittingsToolsEquipment 2022-10-01 2023-09-30 12194357 core:MotorVehicles 2022-10-01 2023-09-30 12194357 core:Vehicles 2022-10-01 2023-09-30 12194357 countries:England 2022-10-01 2023-09-30 12194357 2022-09-30 12194357 core:FurnitureFittingsToolsEquipment 2022-09-30 12194357 core:MotorVehicles 2022-09-30 12194357 2021-10-01 2022-09-30 12194357 2022-09-30 12194357 bus:OrdinaryShareClass1 2022-09-30 12194357 bus:OrdinaryShareClass2 2022-09-30 12194357 core:CurrentFinancialInstruments 2022-09-30 12194357 core:CurrentFinancialInstruments core:WithinOneYear 2022-09-30 12194357 core:Non-currentFinancialInstruments 2022-09-30 12194357 core:Non-currentFinancialInstruments core:AfterOneYear 2022-09-30 12194357 core:FurnitureFittingsToolsEquipment 2022-09-30 12194357 core:MotorVehicles 2022-09-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12194357

Tekh Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2023

 

Tekh Limited

(Registration number: 12194357)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

72,150

38,574

Current assets

 

Debtors

6

19,958

17,663

Other financial assets

5

21,311

-

Cash at bank and in hand

 

52,816

70,601

 

94,085

88,264

Creditors: Amounts falling due within one year

7

(34,895)

(39,226)

Net current assets

 

59,190

49,038

Total assets less current liabilities

 

131,340

87,612

Creditors: Amounts falling due after more than one year

7

(10,736)

(23,137)

Provisions for liabilities

(18,038)

(7,329)

Net assets

 

102,566

57,146

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

102,564

57,144

Shareholders' funds

 

102,566

57,146

 

Tekh Limited

(Registration number: 12194357)
Balance Sheet as at 30 September 2023

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board for issue on 12 March 2024 and signed on its behalf by:
 

.........................................

Dr S L Linfoot

Director

 

Tekh Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
2 Newlands Road
Haconby
Bourne
Lincolnshire
PE10 0UT

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Tekh Limited

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

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furntiture, fittings and equipment

33% reducing balance

Vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Tekh Limited

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 3).

 

Tekh Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2022

3,211

63,095

66,306

Additions

1,455

65,890

67,345

Disposals

(385)

(31,650)

(32,035)

At 30 September 2023

4,281

97,335

101,616

Depreciation

At 1 October 2022

2,228

25,504

27,732

Charge for the year

523

19,787

20,310

Eliminated on disposal

(278)

(18,298)

(18,576)

At 30 September 2023

2,473

26,993

29,466

Carrying amount

At 30 September 2023

1,808

70,342

72,150

At 30 September 2022

983

37,591

38,574

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Current financial assets

Cost or valuation

Fair value adjustments

1,176

1,176

Additions

20,135

20,135

At 30 September 2023

21,311

21,311

Impairment

Carrying amount

At 30 September 2023

21,311

21,311

 

Tekh Limited

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

6

Debtors

Current

2023
£

2022
£

Trade debtors

19,204

16,800

Prepayments

754

863

 

19,958

17,663

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

9,202

16,693

Trade creditors

 

109

-

Amounts owed to related parties

5,058

4,421

Taxation and social security

 

7,207

9,702

Other creditors

 

13,319

8,410

 

34,895

39,226

Creditors falling due within one year include net obligations under finance lease and hire purchase contracts which are secured of £9,202 (2022 - £16,693).

Creditors: amounts falling due after more than one year

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £10,736 (2022 - £23,137).

2023
£

2022
£

Non-current loans and borrowings

HP and finance lease liabilities

10,736

23,137

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

Ordinary A shares of £1 each

1

1

1

1

 

2

2

2

2