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Registered number: 14540670









TEDOM UK LIMITED









FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
TEDOM UK LIMITED
REGISTERED NUMBER: 14540670

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
Note
£

Fixed assets
  

Tangible assets
 5 
97,454

  
97,454

Current assets
  

Stocks
 6 
109,667

Debtors: amounts falling due within one year
 7 
315,143

Cash at bank and in hand
 8 
759,035

  
1,183,845

Creditors: amounts falling due within one year
 9 
(1,477,725)

Net current (liabilities)/assets
  
 
 
(293,880)

Total assets less current liabilities
  
(196,426)

Creditors: amounts falling due after more than one year
 10 
(146,809)

  

Net (liabilities)/assets
  
(343,235)


Capital and reserves
  

Called up share capital 
 12 
20

Profit and loss account
  
(343,255)

  
(343,235)

Page 1

 
TEDOM UK LIMITED
REGISTERED NUMBER: 14540670
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

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 income and retained earnings 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 on 7 August 2024.




................................................
Kenny James Matley
Director

The notes on pages 5 to 13 form part of these financial statements.
Page 2

 
TEDOM UK LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


Comprehensive income for the period

Loss for the period

-
(343,255)
(343,255)


Other comprehensive income for the period
-
-
-


Total comprehensive income for the period
-
(343,255)
(343,255)


Contributions by and distributions to owners

Shares issued during the period
20
-
20


Total transactions with owners
20
-
20


At 31 December 2023
20
(343,255)
(343,235)

The notes on pages 5 to 13 form part of these financial statements.

Page 3

 
TEDOM UK LIMITED
 

STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2023
£

Cash flows from operating activities

Loss for the financial period
(343,255)

Adjustments for:

Depreciation of tangible assets
23,486

Interest paid
6,428

Interest received
(26)

Increase in stocks
(109,667)

Increase in debtors
(315,143)

Increase in creditors
851,508

Increase in amounts owed to groups
614,271

Net cash generated from operating activities

727,602


Cash flows from investing activities

Purchase of tangible fixed assets
(120,940)

Interest received
26

HP interest paid
(6,428)

Net cash from investing activities

(127,342)

Cash flows from financing activities

Issue of ordinary shares
20

Purchase of debenture loans
100,000

Repayment of finance leases
58,755

Net cash used in financing activities
158,775

Net increase in cash and cash equivalents
759,035

Cash and cash equivalents at the end of period
759,035


Cash and cash equivalents at the end of period comprise:

Cash at bank and in hand
759,035

759,035


The notes on pages 5 to 13 form part of these financial statements.

Page 4

 
TEDOM UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Tedom UK Limited is a private company limited by share capital, incorporated in England and Wales. The Company was incorporated on 14th December 2022 and began trading on 1st January 2023. The principal activity of the Company was that of installation of industrial machinery and equipment.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The accounts have been prepared on a going concern basis. The Company is dependent upon the continued support of the parent company, which they have pledged for the foreseeable future.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 5

 
TEDOM UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

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.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.9

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 6

 
TEDOM UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives on a straight line basis and on a reducing balance basis.

Depreciation is provided on the following basis:

Long-term leasehold property
-
10%
straight line
Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
25%
reducing balance

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.

 
2.11

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 first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet 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.

 
2.12

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.

 
2.13

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.

In the Statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.

Page 7

 
TEDOM UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.14

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.


3.


Auditors' remuneration

During the period, the Company obtained the following services from the Company's auditors:


2023
£

Fees payable to the Company's auditors for the audit of the Company's financial statements
5,000

The Company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent Company.


4.


Employees

The average monthly number of employees, including directors, during the period was 7.

Page 8

 
TEDOM UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Leasehold property improve- ments
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


Additions
6,299
7,880
81,410
25,351
120,940



At 31 December 2023

6,299
7,880
81,410
25,351
120,940



Depreciation


Charge for the period on owned assets
219
1,565
17,437
4,265
23,486



At 31 December 2023

219
1,565
17,437
4,265
23,486



Net book value



At 31 December 2023
6,080
6,315
63,973
21,086
97,454

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
£



Motor vehicles
54,638

54,638


6.


Stocks

2023
£

Finished goods and goods for resale
109,667

109,667


Page 9

 
TEDOM UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

7.


Debtors

2023
£


Trade debtors
190,012

Other debtors
10,044

Prepayments and accrued income
115,087

315,143


Included within other debtors due within one year is a loan to Kenny James Matley, a director, amounting to £3,624. There were no terms or conditions attached to the loan.




8.


Cash and cash equivalents

2023
£

Cash at bank and in hand
759,035

759,035


Page 10

 
TEDOM UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

9.


Creditors: Amounts falling due within one year

2023
£

Trade creditors
49,635

Amounts owed to group undertakings
614,271

Other taxation and social security
192,998

Obligations under finance lease and hire purchase contracts
11,946

Accruals and deferred income
608,875

1,477,725


The following liabilities were secured:

2023
£



Obligations under finance lease and hire purchase contracts
11,946

11,946

Details of security provided:

The net obligations under finance leases and hire purchase contracts are secured on the assets concerned.



Page 11

 
TEDOM UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

10.


Creditors: Amounts falling due after more than one year

2023
£

Debentures loans
100,000

Net obligations under finance leases and hire purchase contracts
46,809

146,809


The following liabilities were secured:

2023
£



Debenture loans
100,000

Net obligations under finance leases and hire purchase contracts
46,809

146,809

Details of security provided:

Jet 2 Alfa s.r.o holds a fixed and floating charge over the assets of the company in respect of a debenture loan totalling £100,000.
The net obligations under finance leases and hire purchase contracts are secured on the assets concerned.


11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
£


Within one year
11,946

Between 1-5 years
46,809

58,755

Page 12

 
TEDOM UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

12.


Share capital

2023
£
Authorised, allotted, called up and fully paid


2,000 Ordinary shares of £0.01 each
20


On incorporation, 1 Ordinary £1.00 share was issued at par
On 11 April 2023, 1 Ordinary £1.00 share was subdivided into 100 Ordinary £0.01 shares.
On 7 August 2023, 1,900 Ordinary £0.01 shares were issued at par


13.


Pension commitments

The Company operates a defined contributions pension scheme in respect of the employees. The assets
of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to
£5,845. Contributions totalling £2,144 were payable to the fund at the balance sheet date.


14.


Controlling party

The Company's parent company is Tedom A.S, ID 284 66 021. Its registered and trading address is Vycapy 195, 674 01 Vycapy, Czech Republic. 
The Company's utlimate parent company  is Jet 2 Alfa s.r.o. a company reigistered in the Czech Republic. 
Group accounts can be obtained from Jet 2 Alfa s.r.o.Hlinky, 49/126, Pisarky, 603 000 Brno, Czech Republic.

15.


Auditors' information

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

The audit report was signed on 7 August 2024 by S M Allenby FCA (Senior statutory auditor) on behalf of Clifford Fry & Co LLP.

 
Page 13