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Registration number: 03868400

Tecman-Thermal Technologies & Management Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Tecman-Thermal Technologies & Management Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 7

 

Tecman-Thermal Technologies & Management Limited

Company Information

Director

D Klic

Registered office

114 St Martin's Lane
Covent Garden
London
WC2N 4BE

Accountants

Bourner Bullock
Chartered Accountants
114 St Martin's Lane
Covent Garden
London
WC2N 4BE

 

Tecman-Thermal Technologies & Management Limited

(Registration number: 03868400)
Balance Sheet as at 31 December 2023

Note

2023

2022

Current assets

 

Debtors

5

3,835

4,582

Cash at bank and in hand

 

7,978,075

7,946,565

 

7,981,910

7,951,147

Creditors: Amounts falling due within one year

6

(6,394,260)

(6,389,052)

Net assets

 

1,587,650

1,562,095

Capital and reserves

 

Called up share capital

7

200,000

200,000

Retained earnings

1,387,650

1,362,095

Shareholders' funds

 

1,587,650

1,562,095

 

Tecman-Thermal Technologies & Management Limited

(Registration number: 03868400)
Balance Sheet as at 31 December 2023

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

Director's 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 director acknowledges her 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 September 2024
 

.........................................
D Klic
Director

 

Tecman-Thermal Technologies & Management Limited

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

1

General information

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

Principal activity

The principal activity of the Company is that of a holding company.

These financial statements were authorised for issue by the director on 24 September 2024.

The address of its registered office is:
114 St Martin's Lane
Covent Garden
London
WC2N 4BE
England

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 were prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Going concern

The company made a profit during the year. Therefore, these financial statements have been prepared on the going concern basis, which assumes that the company will be able to meet its financial obligations as they fall due for payment for the foreseeable future.

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 rates prevailing on the initial transaction dates.

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

 

Tecman-Thermal Technologies & Management Limited

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

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from related parties and investments in non-puttable ordinary shares.

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 profit or loss.

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.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

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.

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.

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.

 

Tecman-Thermal Technologies & Management Limited

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

3

Significant judgements and key sources of estimation uncertainty

Key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

4

Staff numbers

The average number of persons employed by the Company (including the director) during the year, was 0 (2022 - 0).

5

Debtors

2023

2022

Prepayments

3,835

4,582

3,835

4,582

6

Creditors

Creditors: amounts falling due within one year

2023

2022

Due within one year

Trade creditors

4,212

-

Accruals and deferred income

4,406

3,410

Other creditors

6,385,642

6,385,642

6,394,260

6,389,052

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

No.

Ordinary Shares of £1 each

185,430

200,000

185,430

200,000

       
 

Tecman-Thermal Technologies & Management Limited

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

8

Dividends

Final dividends paid

2023

2022

Final dividend of Nil per each Ordinary Dividend

-

-

 

 

9

Related party transactions

Shareholder loans
During the year Jose Henriques loaned €nil (2022: €nil) to the company and received repayments from the company of €nil (2022: €20,057). As at the year end 31 December 2023, the company owes Jose Henriques €6,385,642 (2022: €6,385,642).