TEXTAINER EQUIPMENT MANAGEMENT (U.K.) LIMITED

Company Registration Number:
02169105 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

TEXTAINER EQUIPMENT MANAGEMENT (U.K.) LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

TEXTAINER EQUIPMENT MANAGEMENT (U.K.) LIMITED

Directors' report period ended 31 December 2023

The directors present their report with the financial statements of the company for the period ended 31 December 2023

Directors

The directors shown below have held office during the whole of the period from
1 January 2023 to 31 December 2023

Alessandro Caldon
Olivier Ghesquiere


The director shown below has held office during the period of
1 January 2023 to 31 October 2023

Catherine Dudley


The director shown below has held office during the period of
31 October 2023 to 31 December 2023

Paola Gaggioli


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
22 August 2024

And signed on behalf of the board by:
Name: Alessandro Caldon
Status: Director

TEXTAINER EQUIPMENT MANAGEMENT (U.K.) LIMITED

Profit And Loss Account

for the Period Ended 31 December 2023

2023 2022


£

£
Turnover: 1,549,935 1,269,014
Gross profit(or loss): 1,549,935 1,269,014
Administrative expenses: ( 1,528,895 ) ( 1,204,476 )
Operating profit(or loss): 21,040 64,538
Interest receivable and similar income: 2,132 163
Profit(or loss) before tax: 23,172 64,701
Tax: ( 126,509 ) ( 45,730 )
Profit(or loss) for the financial year: (103,337) 18,971

TEXTAINER EQUIPMENT MANAGEMENT (U.K.) LIMITED

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 10,787 4,216
Total fixed assets: 10,787 4,216
Current assets
Debtors: 4 1,492,332 1,437,992
Cash at bank and in hand: 157,537 147,389
Total current assets: 1,649,869 1,585,381
Creditors: amounts falling due within one year: 5 ( 603,261 ) ( 392,975 )
Net current assets (liabilities): 1,046,608 1,192,406
Total assets less current liabilities: 1,057,395 1,196,622
Total net assets (liabilities): 1,057,395 1,196,622
Capital and reserves
Called up share capital: 1,000 1,000
Profit and loss account: 1,056,395 1,195,622
Total Shareholders' funds: 1,057,395 1,196,622

The notes form part of these financial statements

TEXTAINER EQUIPMENT MANAGEMENT (U.K.) LIMITED

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 22 August 2024
and signed on behalf of the board by:

Name: Alessandro Caldon
Status: Director

The notes form part of these financial statements

TEXTAINER EQUIPMENT MANAGEMENT (U.K.) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Tangible fixed assets depreciation policy

    Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Where parts of an item of tangible fixed assets have different useful lives, they are accounted for as separate items of tangible fixed assets, for example land is treated separately from buildings. Leases in which the Company assumes substantially all the risks and rewards of ownership of the leased asset are classified as finance leases. All other leases are classified as operating leases. Leased assets acquired by way of finance lease are stated on initial recognition at an amount equal to the lower of their fair value and the present value of the minimum lease payments at inception of the lease, including any incremental costs directly attributable to negotiating and arranging the lease. At initial recognition a finance lease liability is recognised equal to the fair value of the leased asset or, if lower, the present value of the minimum lease payments. The present value of the minimum lease payments is calculated using the interest rate implicit in the lease. The company assesses at each reporting date whether tangible fixed assets (including those leased under a finance lease) are impaired. Depreciation is provided by the company to write off the cost less the estimated residual value of tangible fixed assets by equal instalments over their estimated useful economic lives as follows: Fixtures and fittings 15% - 20% per annum straight line Motor vehicles 25% per annum straight line Computer hardware 33 1/3% per annum straight line Computer software 20% per annum straight line Leasehold improvements20% per annum straight line

    Other accounting policies

    Foreign currencies Transactions in foreign currencies are translated to the Company’s functional currency at the foreign exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are retranslated to the functional currency at the foreign exchange rate ruling at that date. Non-monetary assets and liabilities that are measured in terms of historical cost in a foreign currency are translated using the exchange rate at the date of the transaction. Non-monetary assets and liabilities denominated in foreign currencies that are stated at fair value are retranslated to the functional currency at foreign exchange rates ruling at the dates the fair value was determined. Foreign exchange differences arising on translation are recognised in the profit and loss account. Taxation Tax on the profit or loss for the year comprises current and deferred tax. Tax is recognised in the profit and loss account except to the extent that it relates to items recognised directly in equity or other comprehensive income, in which case it is recognised directly in equity or other comprehensive income. Notes (continued) 1 Accounting policies (continued) Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years. Deferred tax is provided on timing differences which arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. The following timing differences are not provided for: differences between accumulated depreciation and tax allowances for the cost of a fixed asset if and when all conditions for retaining the tax allowances have been met. Deferred tax is not recognised on permanent differences arising because certain types of income or expense are non-taxable or are disallowable for tax or because certain tax charges or allowances are greater or smaller than the corresponding income or expense. Deferred tax is provided in respect of the additional tax that will be paid or avoided on differences between the amount at which an asset or liability is recognised in a business combination and the corresponding amount that can be deducted or assessed for tax. Deferred tax is measured at the tax rate that is expected to apply to the reversal of the related difference, using tax rates enacted or substantively enacted at the balance sheet date. Deferred tax balances are not discounted. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that is it probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Leases Operating lease rentals are charged to the profit and loss account on a straight-line basis over the period of the lease. Pension costs The company contributes to the personal pension plans of employees. The pension cost charge represents contributions payable in respect of the year under review. Share based payments The share option programme allows employees to acquire shares of the Parent Company. The grant date fair value of share-based payment awards granted is recognised as an employee expense with a corresponding increase in equity, over the period that the employees become unconditionally entitled to the awards. The fair value of the options granted is measured using an option pricing model, taking into account the terms and conditions upon which the options were granted. The amount recognised as an expense is adjusted to reflect the actual number of awards for which the related service and non-market vesting conditions are expected to be met, such that the amount ultimately recognised as an expense is based on the number of awards that do meet the related service and non-market performance conditions at the vesting date. For share-based payment awards with non-vesting conditions, the grant date fair-value of the share-based payments is measured to reflect such conditions and there is no true-up for differences between expected and actual outcomes. Where the Company’s parent grants rights to its equity instruments to the Company’s employees, which are accounted for as equity-settled in the consolidated accounts of the parent, the Company accounts for these share-based payments as equity-settled. Amounts recharged by the parent are recognised as a recharge liability with a corresponding debit to equity.

TEXTAINER EQUIPMENT MANAGEMENT (U.K.) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 11 10

TEXTAINER EQUIPMENT MANAGEMENT (U.K.) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2023 177,321 108,556 388,426 26,877 701,180
Additions 12,232 12,232
Disposals ( 6,295 ) ( 24,389 ) ( 369,118 ) ( 399,802 )
Revaluations
Transfers
At 31 December 2023 171,026 84,167 31,540 26,877 313,610
Depreciation
At 1 January 2023 177,321 106,647 386,119 26,877 696,964
Charge for year 352 5,067 5,419
On disposals ( 6,295 ) ( 24,389 ) ( 368,876 ) ( 399,560 )
Other adjustments
At 31 December 2023 171,026 82,610 22,310 26,877 302,823
Net book value
At 31 December 2023 0 1,557 9,230 0 10,787
At 31 December 2022 0 1,909 2,307 0 4,216

TEXTAINER EQUIPMENT MANAGEMENT (U.K.) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Debtors

2023 2022
£ £
Trade debtors 365
Prepayments and accrued income 30,707 18,340
Other debtors 1,461,260 1,419,652
Total 1,492,332 1,437,992
Debtors due after more than one year: 85,232 211,741

TEXTAINER EQUIPMENT MANAGEMENT (U.K.) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Taxation and social security 72,507 67,336
Accruals and deferred income 530,754 325,639
Total 603,261 392,975

TEXTAINER EQUIPMENT MANAGEMENT (U.K.) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Financial Commitments

14 Commitments Non-cancellable operating lease rentals are payable as follows: Land and Buildings 2023 £85,000 During the year, £82,000 was recognised as an expense in the profit and loss account in respect of operating leases (2022: £82,000).