Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseInvestment property holding00truetrue 02636326 2023-01-01 2023-12-31 02636326 2022-01-01 2022-12-31 02636326 2023-12-31 02636326 2022-12-31 02636326 2022-01-01 02636326 c:Director1 2023-01-01 2023-12-31 02636326 c:Director2 2023-01-01 2023-12-31 02636326 d:Buildings 2023-01-01 2023-12-31 02636326 d:Buildings 2023-12-31 02636326 d:Buildings 2022-12-31 02636326 d:CurrentFinancialInstruments 2023-12-31 02636326 d:CurrentFinancialInstruments 2022-12-31 02636326 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 02636326 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 02636326 d:ShareCapital 2023-12-31 02636326 d:ShareCapital 2022-12-31 02636326 d:RevaluationReserve 2023-12-31 02636326 d:RevaluationReserve 2022-12-31 02636326 d:RetainedEarningsAccumulatedLosses 2023-12-31 02636326 d:RetainedEarningsAccumulatedLosses 2022-12-31 02636326 c:FRS102 2023-01-01 2023-12-31 02636326 c:Audited 2023-01-01 2023-12-31 02636326 c:FullAccounts 2023-01-01 2023-12-31 02636326 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02636326 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 02636326 2 2023-01-01 2023-12-31 02636326 5 2023-01-01 2023-12-31 02636326 d:OtherDeferredTax 2023-12-31 02636326 d:OtherDeferredTax 2022-12-31 02636326 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 02636326









TECNOS LIMITED









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
TECNOS LIMITED
REGISTERED NUMBER: 02636326

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2023
2022
2022
                                                                      Note    
£
£
£
£

Fixed assets
  

Tangible assets
 4 
3,000,000
2,575,000

  
3,000,000
2,575,000

Current assets
  

Debtors: amounts falling due within one year
 5 
122,038
55,176

Cash at bank and in hand
 6 
202,990
188,675

Creditors: amounts falling due within one year
 7 
(205,147)
(131,717)

Net current assets
  
 
 
119,881
 
 
112,134

Total assets less current liabilities
  
3,119,881
2,687,134

Provisions for liabilities
  

Deferred tax
 8 
(161,210)
(54,960)

  
 
 
(161,210)
 
 
(54,960)

Net assets
  
2,958,671
2,632,174


Capital and reserves
  

Called up share capital 
  
430,000
430,000

Revaluation reserve
  
1,612,191
1,293,441

Profit and loss account
  
916,480
908,733

  
2,958,671
2,632,174


Page 1

 
TECNOS LIMITED
REGISTERED NUMBER: 02636326
    
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 comprehensive income 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 by: 




................................................
R J Atkin
................................................
Mrs I Atkin
Director
Director


Date: 1 September 2024


The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
TECNOS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Tecnos Limited is a private company limited by shares, incorporated in England & Wales. The address of the registered office is 6 Village Street, Edwalton, Nottingham, NG12 4AB.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of investment properties, and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

The company’s only source of revenue is rental income from an investment property. Sales invoices are raised quarterly in advance for services provided. Revenue is recognised in the accounting period in which the services are rendered. Monies received for rental income in advance of services provided is deferred accordingly.

  
2.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. The company's freehold land and buildings are an investment property and are not depreciated. The investment property is stated at open market value.

 
2.4

Interest income

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

Page 3

 
TECNOS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.7

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.

 
2.8

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.

Page 4

 
TECNOS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

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.

 
2.10

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

  
2.12

Lease of assets

The company receives rental income on assets held for use under operating leases. It recognises the rents on a straight line basis and accounts for costs over the life of the lease.

Page 5

 
TECNOS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

The average monthly number of employees, including directors, during the year was Nil (2022 - Nil).


4.


Tangible fixed assets





Freehold land and buildings

£



Cost or valuation


At 1 January 2023
2,575,000


Revaluations
425,000



At 31 December 2023

3,000,000






Net book value



At 31 December 2023
3,000,000



At 31 December 2022
2,575,000

Cost or valuation of land and buildings at 31 December 2023 is as follows:
At cost             1,355,000
At valuation
19 January 2004            445,000
15 February 2006            100,000
31 December 2006            300,000
8 August 2014            375,000
31 December 2023                                                                                                           425,000
Total              £3,000,000

Page 6

 
TECNOS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

           4.Tangible fixed assets (continued)

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2023
2022
£
£



Cost
1,355,000
1,355,000

Accumulated depreciation
(535,001)
(513,601)

Net book value
819,999
841,399

In accordance with the company’s accounting policy, the freehold land and buildings are treated as investment properties and held at open market value. The freehold land and buildings were revalued on 31 December 2023 by the directors on an open market existing use basis.
The company uses the above land and buildings, with a valuation at 31 December 2023 of £3,000,000 
(2022 - £2,575,000), in operating leases and received aggregate rentals of £285,019  (2022 - £250,089).


5.


Debtors

2023
2022
£
£


Other debtors
72,586
55,176

Prepayments and accrued income
49,452
-

122,038
55,176



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
202,990
188,675


Page 7

 
TECNOS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
3,250
-

Corporation tax
65,721
44,213

Other taxation and social security
11,579
10,696

Accruals and deferred income
124,597
76,808

205,147
131,717



8.


Deferred taxation




2023
2022


£

£






At beginning of year
(54,960)
(37,373)


Charged to revaluation reserve
(106,250)
(17,587)



At end of year
(161,210)
(54,960)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Deferred taxation on revalued investment property
(161,210)
(54,960)


9.


Related party transactions

During the year, the company paid Tecnos Holdings Limited, the company’s parent company and a company in which the directors have an interest, £190,000 (2022 - £190,000) in dividends.
At the year end amounts of £1,004 
(2022 - £828) were owed to the directors.


10.


Parent Undertaking

The company regards Tecnos Holdings Limited as its parent company. The registered office of the parent company is 6 Village Street, Edwalton, Nottingham, NG12 4AB.

Page 8

 
TECNOS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

11.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 2 September 2024 by Simon Liggins (Senior statutory auditor) on behalf of Barnes Roffe LLP.

 
Page 9