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REGISTERED NUMBER: 05248708 (England and Wales)











Report of the Directors and

Unaudited Financial Statements

for the Year Ended 31 October 2023

for

Technaseal Limited

Technaseal Limited (Registered number: 05248708)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Report of the Directors 2

Income Statement 3

Balance Sheet 4

Statement of Changes in Equity 6

Notes to the Financial Statements 7


Technaseal Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mrs A J Rogers
D Rogers





SECRETARY: Mrs A J Rogers





REGISTERED OFFICE: Eldo House
Kempson Way
Bury St Edmunds
Suffolk
IP32 7AR





BUSINESS ADDRESS: Boundary Farm
Framsden
Stowmarket
Suffolk
IP14 6LH





REGISTERED NUMBER: 05248708 (England and Wales)





ACCOUNTANTS: Knights Lowe Chartered Accountants
Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

Technaseal Limited (Registered number: 05248708)

Report of the Directors
for the Year Ended 31 October 2023

The directors present their report with the financial statements of the company for the year ended 31 October 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of being a holding company and the provision of equipment for hire.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 November 2022 to the date of this report.

Mrs A J Rogers
D Rogers

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mrs A J Rogers - Secretary


22 July 2024

Technaseal Limited (Registered number: 05248708)

Income Statement
for the Year Ended 31 October 2023

2023 2022
Notes £    £    £    £   

TURNOVER 84,000 84,000

Administrative expenses 78,394 67,735
OPERATING PROFIT 4 5,606 16,265

Income from fixed asset investments 200,000 250,000
Interest receivable and similar income 491 43
200,491 250,043
206,097 266,308

Interest payable and similar expenses 4,922 3,514
PROFIT BEFORE TAXATION 201,175 262,794

Tax on profit 5 28,978 2,099
PROFIT FOR THE FINANCIAL YEAR 172,197 260,695

Technaseal Limited (Registered number: 05248708)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 7 291,846 232,203
Investments 8 1,000 1,000
292,846 233,203

CURRENT ASSETS
Debtors 9 311,557 351,204
Cash at bank 96,290 90,050
407,847 441,254
CREDITORS
Amounts falling due within one year 10 44,695 40,170
NET CURRENT ASSETS 363,152 401,084
TOTAL ASSETS LESS CURRENT LIABILITIES 655,998 634,287

CREDITORS
Amounts falling due after more than one
year

11

(29,541

)

(9,005

)

PROVISIONS FOR LIABILITIES 13 (72,962 ) (43,984 )
NET ASSETS 553,495 581,298

CAPITAL AND RESERVES
Called up share capital 14 1,000 1,000
Retained earnings 552,495 580,298
SHAREHOLDERS' FUNDS 553,495 581,298

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.

Technaseal Limited (Registered number: 05248708)

Balance Sheet - continued
31 October 2023


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 22 July 2024 and were signed on its behalf by:





Mrs A J Rogers - Director


Technaseal Limited (Registered number: 05248708)

Statement of Changes in Equity
for the Year Ended 31 October 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 November 2021 1,000 569,603 570,603

Changes in equity
Dividends - (250,000 ) (250,000 )
Total comprehensive income - 260,695 260,695
Balance at 31 October 2022 1,000 580,298 581,298

Changes in equity
Dividends - (200,000 ) (200,000 )
Total comprehensive income - 172,197 172,197
Balance at 31 October 2023 1,000 552,495 553,495

Technaseal Limited (Registered number: 05248708)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Technaseal 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Preparation of consolidated financial statements
The financial statements contain information about Technaseal Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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 fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Technaseal Limited (Registered number: 05248708)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, and loans from banks or other related parties.

Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet 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.

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.

Technaseal Limited (Registered number: 05248708)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those
held under hire purchase contracts are depreciated over their estimated useful lives. Those held under
finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period.
The capital element of the future payments is treated as a liability.

Impairment
At each reporting date, fixed assets, including tangible fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in the income statement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

2023 2022
£    £   
Depreciation - owned assets 42,216 43,330
Depreciation - assets on hire purchase contracts 27,312 16,464

5. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax - 2,921

Deferred tax 28,978 (822 )
Tax on profit 28,978 2,099

UK corporation tax was charged at 19%) in 2022.

6. DIVIDENDS
2023 2022
£    £   
Ordinary shares of £1 each
Interim 200,000 250,000

Technaseal Limited (Registered number: 05248708)

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

7. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 626,879
Additions 135,737
Disposals (42,379 )
At 31 October 2023 720,237
DEPRECIATION
At 1 November 2022 394,676
Charge for year 69,528
Eliminated on disposal (35,813 )
At 31 October 2023 428,391
NET BOOK VALUE
At 31 October 2023 291,846
At 31 October 2022 232,203

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 November 2022 85,310
Additions 99,279
Transfer to ownership (30,700 )
At 31 October 2023 153,889
DEPRECIATION
At 1 November 2022 16,867
Charge for year 27,312
Transfer to ownership (15,060 )
At 31 October 2023 29,119
NET BOOK VALUE
At 31 October 2023 124,770
At 31 October 2022 68,443

Technaseal Limited (Registered number: 05248708)

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

8. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 November 2022
and 31 October 2023 1,000
NET BOOK VALUE
At 31 October 2023 1,000
At 31 October 2022 1,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Sealant & Construction Services Limited
Registered office: Eldo House, Kempson Way, Bury St Edmunds, IP32 7AR
Nature of business: Mastic sealing, diamond drilling
%
Class of shares: holding
Ordinary 100.00

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 311,557 351,204

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 40,475 33,215
Taxation and social security 2,800 5,615
Other creditors 1,420 1,340
44,695 40,170

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 29,541 9,005

12. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 70,016 42,220

The hire purchase liabilities are secured over the assets financed.

Technaseal Limited (Registered number: 05248708)

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

13. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 72,962 43,984

Deferred
tax
£   
Balance at 1 November 2022 43,984
Provided during year 28,978
Balance at 31 October 2023 72,962

14. CALLED UP SHARE CAPITAL

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