Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29false2023-03-01The principal activity of the company continued to be that of the provision of consultancy services, property development and residential property letting.22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08825883 2023-03-01 2024-02-29 08825883 2022-03-01 2023-02-28 08825883 2024-02-29 08825883 2023-02-28 08825883 2022-03-01 08825883 c:Director1 2023-03-01 2024-02-29 08825883 d:PlantMachinery 2023-03-01 2024-02-29 08825883 d:PlantMachinery 2024-02-29 08825883 d:PlantMachinery 2023-02-28 08825883 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 08825883 d:FurnitureFittings 2023-03-01 2024-02-29 08825883 d:FurnitureFittings 2024-02-29 08825883 d:FurnitureFittings 2023-02-28 08825883 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 08825883 d:OfficeEquipment 2023-03-01 2024-02-29 08825883 d:OfficeEquipment 2024-02-29 08825883 d:OfficeEquipment 2023-02-28 08825883 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 08825883 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 08825883 d:FreeholdInvestmentProperty 2024-02-29 08825883 d:FreeholdInvestmentProperty 2023-02-28 08825883 d:CurrentFinancialInstruments 2024-02-29 08825883 d:CurrentFinancialInstruments 2023-02-28 08825883 d:Non-currentFinancialInstruments 2024-02-29 08825883 d:Non-currentFinancialInstruments 2023-02-28 08825883 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 08825883 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 08825883 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 08825883 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 08825883 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-02-29 08825883 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 08825883 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-02-29 08825883 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-02-28 08825883 d:ShareCapital 2024-02-29 08825883 d:ShareCapital 2023-02-28 08825883 d:OtherMiscellaneousReserve 2024-02-29 08825883 d:OtherMiscellaneousReserve 2023-02-28 08825883 d:RetainedEarningsAccumulatedLosses 2024-02-29 08825883 d:RetainedEarningsAccumulatedLosses 2023-02-28 08825883 d:AcceleratedTaxDepreciationDeferredTax 2024-02-29 08825883 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 08825883 d:OtherDeferredTax 2024-02-29 08825883 d:OtherDeferredTax 2023-02-28 08825883 c:OrdinaryShareClass1 2023-03-01 2024-02-29 08825883 c:OrdinaryShareClass1 2024-02-29 08825883 c:FRS102 2023-03-01 2024-02-29 08825883 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 08825883 c:FullAccounts 2023-03-01 2024-02-29 08825883 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 08825883 2 2023-03-01 2024-02-29 08825883 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 08825883














TEKTON LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
TEKTON LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 9


 
TEKTON LIMITED
REGISTERED NUMBER:08825883

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
10,890
17,131

Investment property
 5 
2,525,001
2,525,001

  
2,535,891
2,542,132

Current assets
  

Stocks
 6 
632,192
96,025

Debtors: amounts falling due within one year
 7 
12,804
1,492

Cash at bank and in hand
 8 
10,545
136,538

  
655,541
234,055

Creditors: amounts falling due within one year
 9 
(400,662)
(173,374)

Net current assets
  
 
 
254,879
 
 
60,681

Total assets less current liabilities
  
2,790,770
2,602,813

Creditors: amounts falling due after more than one year
 10 
(1,647,905)
(1,442,707)

Provisions for liabilities
  

Deferred tax
 12 
(93,156)
(93,035)

  
 
 
(93,156)
 
 
(93,035)

Net assets
  
1,049,709
1,067,071


Capital and reserves
  

Called up share capital 
 13 
100
100

Non-distributable profit and loss account
  
311,144
311,144

Profit and loss account
  
738,465
755,827

  
1,049,709
1,067,071


1

 
TEKTON LIMITED
REGISTERED NUMBER:08825883
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 profit and loss account 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: 




................................................
A W Nichols
Director

Date: 20 September 2024

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

2

 
TEKTON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Tekton Limited is a private company, limited by shares, registered in England and Wales, registration number 08825883. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.

The principal activity of the company continued to be that of the provision of consultancy services, property development and residential property letting. 

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 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 company's functional and presentational currency is pound sterling.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover from provision of consultancy services, property development and rentals 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. Turnover from provision of consultancy services, property development and rentals is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Interest income

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

 
2.4

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.

 
2.5

Borrowing costs

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

3

 
TEKTON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.6

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. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

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, either using the reducing balance or straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance
Fixtures and fittings
-
25%
straight line
Office equipment
-
25%
straight line

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.

 
2.8

Investment property

Investment property is carried at fair value determined annually by directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss account.

4

 
TEKTON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.9

 Work In Progress

Stocks and Work in progress are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost icludes all direct costs.

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.

 
2.10

 Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.11

 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.

 
2.12

 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.

 
2.13

 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, loan from related parties, banks and other third parties, loans to related parties.

 
2.14

 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

5

 
TEKTON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Tangible fixed assets







Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 March 2023
7,119
27,988
2,414
37,521


Additions
504
-
999
1,503


Disposals
(166)
(6,790)
(1,091)
(8,047)



At 29 February 2024

7,457
21,198
2,322
30,977



Depreciation


At 1 March 2023
3,990
15,491
909
20,390


Charge for the year on owned assets
852
5,369
443
6,664


Disposals
(88)
(6,790)
(89)
(6,967)



At 29 February 2024

4,754
14,070
1,263
20,087



Net book value



At 29 February 2024
2,703
7,128
1,059
10,890



At 28 February 2023
3,129
12,497
1,505
17,131


5.


Investment property





Freehold investment properties

£



Valuation


At 1 March 2023
2,525,001



At 29 February 2024
2,525,001

The 2024 valuations were made by the directors, on an open market value for existing use basis.



If the investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

29 February
28 February
2024
2023
£
£


Historical cost
2,122,687
2,122,687

6

 
TEKTON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.


Stocks

29 February
28 February
2024
2023
£
£

Work in progress
632,192
96,025



7.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
9,600
-

Other debtors
409
58

Prepayments and accrued income
2,795
1,434

12,804
1,492



8.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
10,545
136,538



9.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Bank loans
16,599
22,437

Corporation tax
5,184
10,681

Other taxation and social security
459
22

Other creditors
338,039
81,428

Accruals and deferred income
40,381
58,806

400,662
173,374


The bank loans are limited recourse and are secured by a charge over the company's freehold properties.

7

 
TEKTON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

10.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
1,647,905
1,442,707


The bank loans are limited recourse and are secured by a charge over the company's freehold properties.
 


11.


Loans


Analysis of the maturity of loans is given below:


29 February
28 February
2024
2023
£
£

Amounts falling due within one year

Bank loans
16,599
22,437


Amounts falling due 2-5 years

Bank loans
66,397
89,747

Amounts falling due after more than 5 years

Bank loans
1,581,508
1,352,960

1,664,504
1,465,144



12.


Deferred taxation






2024
2023


£

£






At beginning of year
93,035
29,529


Charged to profit or loss
(121)
(63,506)



At end of year
93,156
93,035

8

 
TEKTON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
 
12.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

29 February
28 February
2024
2023
£
£


Accelerated capital allowances
1,987
1,866

Capital gains
91,169
91,169

93,156
93,035


13.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



100  Ordinary shares of £1.00 each
100
100



14.


Related party transactions

Included in other creditors is an amount of £336,821 (2023 - £81,425) owing to the directors. These are interest free loans that are repayable on demand.
During the year, dividends of £33,200 (2023 - £72,000) were paid to the directors.

 
9