IRIS Accounts Production v24.2.0.383 02071631 Board of Directors 31.12.23 1.1.23 31.12.23 31.12.23 Medium entities These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. gunite and concrete repair contractors. true true true false true true false false false false false false false true false Ordinary 0 A 0 B 0 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh020716312022-12-31020716312023-12-31020716312023-01-012023-12-31020716312021-12-31020716312022-01-012022-12-31020716312022-12-3102071631ns15:EnglandWales2023-01-012023-12-3102071631ns14:PoundSterling2023-01-012023-12-3102071631ns10:Director12023-01-012023-12-3102071631ns10:Consolidated2023-12-3102071631ns10:ConsolidatedGroupCompanyAccounts2023-01-012023-12-3102071631ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3102071631ns10:Consolidatedns10:MediumEntities2023-01-012023-12-3102071631ns10:Consolidatedns10:Audited2023-01-012023-12-3102071631ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3102071631ns10:Consolidated2023-01-012023-12-3102071631ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-01-012023-12-3102071631ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForAccounts2023-01-012023-12-3102071631ns10:FullAccounts2023-01-012023-12-3102071631ns5:Subsidiary12023-01-012023-12-3102071631ns5:Subsidiary22023-01-012023-12-3102071631ns5:Subsidiary32023-01-012023-12-3102071631ns5:Subsidiary42023-01-012023-12-3102071631ns5:Subsidiary52023-01-012023-12-3102071631ns10:OrdinaryShareClass12023-01-012023-12-3102071631ns10:OrdinaryShareClass22023-01-012023-12-3102071631ns10:OrdinaryShareClass32023-01-012023-12-3102071631ns10:OrdinaryShareClass332023-01-012023-12-3102071631ns10:Director22023-01-012023-12-3102071631ns10:Director32023-01-012023-12-3102071631ns10:RegisteredOffice2023-01-012023-12-3102071631ns10:Consolidated2022-01-012022-12-3102071631ns5:CurrentFinancialInstruments2023-12-3102071631ns5:CurrentFinancialInstruments2022-12-3102071631ns5:ShareCapital2023-12-3102071631ns5:ShareCapital2022-12-3102071631ns5:FurtherSpecificReserve3ComponentTotalEquity2023-12-3102071631ns5:FurtherSpecificReserve3ComponentTotalEquity2022-12-3102071631ns5:RetainedEarningsAccumulatedLosses2023-12-3102071631ns5:RetainedEarningsAccumulatedLosses2022-12-3102071631ns5:ShareCapital2021-12-3102071631ns5:RetainedEarningsAccumulatedLosses2021-12-3102071631ns5:FurtherSpecificReserve3ComponentTotalEquity2021-12-3102071631ns5:ShareCapital2022-01-012022-12-3102071631ns5:RetainedEarningsAccumulatedLosses2022-01-012022-12-3102071631ns5:FurtherSpecificReserve3ComponentTotalEquity2022-01-012022-12-3102071631ns5:ShareCapital2023-01-012023-12-3102071631ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-3102071631ns5:FurtherSpecificReserve3ComponentTotalEquity2023-01-012023-12-3102071631ns5:LandBuildingsns5:OwnedOrFreeholdAssets2023-01-012023-12-3102071631ns5:PlantMachinery2023-01-012023-12-3102071631ns5:FurnitureFittings2023-01-012023-12-3102071631ns5:MotorVehicles2023-01-012023-12-3102071631ns5:ComputerEquipment2023-01-012023-12-3102071631ns5:LandBuildings2022-12-3102071631ns5:MotorVehicles2022-12-3102071631ns5:LandBuildings2023-01-012023-12-3102071631ns5:LandBuildings2023-12-3102071631ns5:MotorVehicles2023-12-3102071631ns5:LandBuildings2022-12-3102071631ns5:MotorVehicles2022-12-3102071631ns5:CostValuation2022-12-3102071631ns5:AdditionsToInvestments2023-12-3102071631ns5:CostValuation2023-12-31020716311ns5:Subsidiary12023-01-012023-12-3102071631ns5:Subsidiary12023-12-3102071631ns5:Subsidiary12022-12-3102071631ns5:Subsidiary12022-01-012022-12-3102071631ns5:Subsidiary232023-01-012023-12-3102071631ns5:Subsidiary22023-12-3102071631ns5:Subsidiary22022-12-3102071631ns5:Subsidiary22022-01-012022-12-31020716315ns5:Subsidiary32023-01-012023-12-3102071631ns5:Subsidiary32023-12-3102071631ns5:Subsidiary32022-12-3102071631ns5:Subsidiary32022-01-012022-12-31020716317ns5:Subsidiary42023-01-012023-12-3102071631ns5:Subsidiary42023-12-3102071631ns5:Subsidiary42022-12-3102071631ns5:Subsidiary42022-01-012022-12-3102071631ns5:Subsidiary592023-01-012023-12-3102071631ns5:Subsidiary52023-12-3102071631ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3102071631ns5:WithinOneYearns5:CurrentFinancialInstruments2022-12-3102071631ns5:DeferredTaxation2022-12-3102071631ns5:DeferredTaxation2023-12-3102071631ns10:OrdinaryShareClass12023-12-3102071631ns10:OrdinaryShareClass22023-12-3102071631ns10:OrdinaryShareClass32023-12-3102071631ns5:FurtherSpecificReserve3ComponentTotalEquity2022-12-31
REGISTERED NUMBER: 02071631 (England and Wales)















GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

TECHCRETE LIMITED

TECHCRETE LIMITED (REGISTERED NUMBER: 02071631)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Consolidated Income Statement 8

Consolidated Other Comprehensive Income 9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Cash Flow Statement 14

Notes to the Consolidated Cash Flow Statement 15

Notes to the Consolidated Financial Statements 16


TECHCRETE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: J F Otter
Mrs F Otter
M Otter





REGISTERED OFFICE: 409-411 Croydon Road
Beckenham
Kent
BR3 3PP





REGISTERED NUMBER: 02071631 (England and Wales)





AUDITORS: Edwards Chartered Accountants
Statutory Auditor
409-411 Croydon Road
Beckenham
Kent
BR3 3PP

TECHCRETE LIMITED (REGISTERED NUMBER: 02071631)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

The directors present their strategic report of the company and the group for the year ended 31 December 2023.

REVIEW OF BUSINESS
The group trades as a concrete, brick repair and refurbishment business working within the UK construction trade and also holds investments. It has a separate fire door and fire protection division, again in the UK construction trade. 2023 was seen as a solid year for the group.

PRINCIPAL RISKS AND UNCERTAINTIES
As the market remains uncertain, some main contractors buy contracts at uneconomic rates which they then try to pass onto the sub-contractor. A system of pre-contract review prior to acceptance of this subcontract is in operation to try and avoid loss-making contracts.

All contracts are reviewed on a fortnightly basis with fiscal analysis on a monthly basis.

Late payment and underpayment remains a high risk. Again, constant review and procedures are in operation to try to avoid these debts. Review of the clients and main contractors has managed to minimise bad debts from insolvencies.

As a group dependant on local authority expenditure, changes in government direction and policy also have a direct effect.

BUSINESS ENVIRONMENT
The UK construction market is a highly competitive market which over the last year has made modest recovery in the refurbishment market with a stronger recovery in new-build and housing.

Main contractors are still tendering on a very economic basis. Pressure is on staffing and rates. Poaching of operatives has become noticeable and rates for the site operatives are increasing.

STRATEGY
2023 saw focus remain on overheads with reductions where possible. This has continued into 2024.

Focus has also been on site management to ensure quality of product, together with liaison and records. Quality and delivery has resulted in repeat business from respected clients. This together with records has resulted in better account control and percentage recovery.

FUTURE DEVELOPMENTS
Whilst there has been growth in the UK construction market, we are guarded as to whether this will continue.

Investment in the London property market is again high and will continue to flourish. Hotels, flats/apartments and offices are a market that we will focus on for fire protection. For concrete and brickwork, sales focus will be on existing clients by improving delivery, quality and liaison.

The group will continue to look at new ventures that may present opportunities for growth.

ON BEHALF OF THE BOARD:





J F Otter - Director


26 September 2024

TECHCRETE LIMITED (REGISTERED NUMBER: 02071631)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2023

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2023.

DIVIDENDS
The group voted total dividends in the year of £65,504.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

J F Otter
Mrs F Otter

Other changes in directors holding office are as follows:

M Otter - appointed 16 May 2023

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Edwards Chartered Accountants, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





J F Otter - Director


26 September 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
TECHCRETE LIMITED

Opinion
We have audited the financial statements of Techcrete Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2023 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
TECHCRETE LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
TECHCRETE LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures can detect irregularities, including fraud is detailed below:

Our approach was as follows:

a) We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity and determined that the most significant are those that relate to include the Companies Act 2006, and relevant tax legislation. In addition, we have considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty.

b) We communicated identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

c) We examined the company's regulatory and legal correspondence and discussed with management any known or suspected instances of fraud or non-compliance with laws and regulations.

d) We assessed the risks of material misstatement in respect of fraud as follows:

i) We considered the use of remuneration incentive schemes and performance targets for management and did not identify any additional fraud risks
ii) The audit team discussed whether there were any areas that were susceptible to misstatement as part of their fraud discussion.
iii) In addressing the risk of management override of controls, we tested the appropriateness of journal entries. We also challenged assumptions and judgements made by management in their significant accounting estimates and judgements.
iv) We incorporated an element of unpredictability in the selection of the nature, timing and extent of our audit procedures.

Based on the results of our risk assessment we designed our audit procedures to identify and to address material misstatements in relation to fraud, including:

Designing audit procedures to address, for example:
a) The possibility of fraudulent or corrupt payments made through third parties.
b) The risk of bribery and corruption.
c) The opportunity to segregate duties within the entity.

Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above.

Using our general commercial and sector experience and through discussions with management, we identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements as well as those arising from management's own assessment of the risks that irregularities may occur either because of fraud or error.

The engagement partner considers the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations.


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
TECHCRETE LIMITED

Under ISA 240 (UK) there is a presumed risk that revenue may be misstated due to the improper recognition of revenue. To address this risk, we obtained an understanding of the company's revenue recognition policies and compared these to the accounting standard, performed a walkthrough to confirm our understanding of the processes and controls through which the business initiates, records, processes and reports revenue transactions.

We tested a sample of revenue transactions to supporting evidence and tested, on a sample basis, revenue related balances in the balance sheet.

We considered the extent to which the audit was considered capable of detecting irregularities: There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




John Duggan (Senior Statutory Auditor)
for and on behalf of Edwards Chartered Accountants
Statutory Auditor
409-411 Croydon Road
Beckenham
Kent
BR3 3PP

26 September 2024

TECHCRETE LIMITED (REGISTERED NUMBER: 02071631)

CONSOLIDATED
INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
Notes £    £   

TURNOVER 25,399,689 21,326,151

Cost of sales 20,884,886 17,224,541
GROSS PROFIT 4,514,803 4,101,610

Administrative expenses 4,357,233 3,592,830
OPERATING PROFIT 4 157,570 508,780

Interest receivable and similar income 5,428 1
162,998 508,781

Interest payable and similar expenses 5 35,894 33,099
PROFIT BEFORE TAXATION 127,104 475,682

Tax on profit 6 40,599 (2,131 )
PROFIT FOR THE FINANCIAL YEAR 86,505 477,813
Profit attributable to:
Owners of the parent 86,505 477,813

TECHCRETE LIMITED (REGISTERED NUMBER: 02071631)

CONSOLIDATED
OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 86,505 477,813


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

86,505

477,813

Total comprehensive income attributable to:
Owners of the parent 86,505 477,813

TECHCRETE LIMITED (REGISTERED NUMBER: 02071631)

CONSOLIDATED BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 3,801,854 3,576,444
Investments 10 19,400 19,400
3,821,254 3,595,844

CURRENT ASSETS
Stocks 11 2,404,049 181,137
Debtors 12 4,692,771 4,496,888
7,096,820 4,678,025
CREDITORS
Amounts falling due within one year 13 5,983,281 3,572,764
NET CURRENT ASSETS 1,113,539 1,105,261
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,934,793

4,701,105

CREDITORS
Amounts falling due after more than one
year

14

(206,820

)

-

PROVISIONS FOR LIABILITIES 17 (42,637 ) (36,780 )
NET ASSETS 4,685,336 4,664,325

CAPITAL AND RESERVES
Called up share capital 18 197 187
Fair value reserve 19 118,697 118,697
Retained earnings 19 4,566,442 4,545,441
SHAREHOLDERS' FUNDS 4,685,336 4,664,325

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:





J F Otter - Director


TECHCRETE LIMITED (REGISTERED NUMBER: 02071631)

COMPANY BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 3,495,124 3,495,165
Investments 10 19,602 19,601
3,514,726 3,514,766

CURRENT ASSETS
Debtors 12 96 86
Cash at bank 10,613 10,000
10,709 10,086
CREDITORS
Amounts falling due within one year 13 3,351,062 3,293,805
NET CURRENT LIABILITIES (3,340,353 ) (3,283,719 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

174,373

231,047

PROVISIONS FOR LIABILITIES 17 23,739 22,552
NET ASSETS 150,634 208,495

CAPITAL AND RESERVES
Called up share capital 18 196 186
Fair value reserve 118,697 118,697
Retained earnings 31,741 89,612
SHAREHOLDERS' FUNDS 150,634 208,495

Company's profit for the financial year 7,633 157,995

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:





J F Otter - Director


TECHCRETE LIMITED (REGISTERED NUMBER: 02071631)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023

Called up Fair
share Retained value Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 January 2022 100 4,141,132 118,697 4,259,929

Changes in equity
Issue of share capital 87 - - 87
Dividends - (73,504 ) - (73,504 )
Total comprehensive income - 477,813 - 477,813
Balance at 31 December 2022 187 4,545,441 118,697 4,664,325

Changes in equity
Issue of share capital 10 - - 10
Dividends - (65,504 ) - (65,504 )
Total comprehensive income - 86,505 - 86,505
Balance at 31 December 2023 197 4,566,442 118,697 4,685,336

TECHCRETE LIMITED (REGISTERED NUMBER: 02071631)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023

Called up Fair
share Retained value Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 January 2022 100 5,121 118,697 123,918

Changes in equity
Issue of share capital 86 - - 86
Dividends - (73,504 ) - (73,504 )
Total comprehensive income - 157,995 - 157,995
Balance at 31 December 2022 186 89,612 118,697 208,495

Changes in equity
Issue of share capital 10 - - 10
Dividends - (65,504 ) - (65,504 )
Total comprehensive income - 7,633 - 7,633
Balance at 31 December 2023 196 31,741 118,697 150,634

TECHCRETE LIMITED (REGISTERED NUMBER: 02071631)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 175,206 (447,450 )
Interest paid (11,821 ) (33,099 )
Interest element of hire purchase payments
paid

(24,073

)

-
Tax paid 140,191 (296,667 )
Net cash from operating activities 279,503 (777,216 )

Cash flows from investing activities
Purchase of tangible fixed assets (305,806 ) (7,303 )
Purchase of fixed asset investments - (1 )
Interest received 5,428 1
Net cash from investing activities (300,378 ) (7,303 )

Cash flows from financing activities
Capital repayments in year 243,379 -
Share issue 10 87
Equity dividends paid (65,504 ) (73,504 )
Net cash from financing activities 177,885 (73,417 )

Increase/(decrease) in cash and cash equivalents 157,010 (857,936 )
Cash and cash equivalents at beginning of
year

2

(241,942

)

615,994

Cash and cash equivalents at end of year 2 (84,932 ) (241,942 )

TECHCRETE LIMITED (REGISTERED NUMBER: 02071631)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2023 2022
£    £   
Profit before taxation 127,104 475,682
Depreciation charges 80,396 34,431
Finance costs 35,894 33,099
Finance income (5,428 ) (1 )
237,966 543,211
(Increase)/decrease in stocks (2,222,912 ) 72,229
Increase in trade and other debtors (358,716 ) (1,332,442 )
Increase in trade and other creditors 2,518,868 269,552
Cash generated from operations 175,206 (447,450 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2023
31.12.23 1.1.23
£    £   
Bank overdrafts (84,932 ) (241,942 )
Year ended 31 December 2022
31.12.22 1.1.22
£    £   
Cash and cash equivalents - 615,994
Bank overdrafts (241,942 ) -
(241,942 ) 615,994


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.1.23 Cash flow At 31.12.23
£    £    £   
Net cash
Bank overdrafts (241,942 ) 157,010 (84,932 )
(241,942 ) 157,010 (84,932 )
Debt
Finance leases - (243,379 ) (243,379 )
- (243,379 ) (243,379 )
Total (241,942 ) (86,369 ) (328,311 )

TECHCRETE LIMITED (REGISTERED NUMBER: 02071631)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Techcrete Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Revenue is recognised by reference to the level of completion of each contract at the balance sheet date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - not provided
Plant and machinery - 25% on reducing balance and 20% on cost
Fixtures and fittings - 25% on reducing balance and 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Investment property is carried at fair value determined annually by the 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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

TECHCRETE LIMITED (REGISTERED NUMBER: 02071631)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 2,287,078 1,745,193
Social security costs 7,797 7,262
Other pension costs 318,436 254,369
2,613,311 2,006,824

The average number of employees during the year was as follows:
2023 2022

Administrative and direct labour 103 87

2023 2022
£    £   
Directors' remuneration 374,437 63,937

TECHCRETE LIMITED (REGISTERED NUMBER: 02071631)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

3. EMPLOYEES AND DIRECTORS - continued

Information regarding the highest paid director for the year ended 31 December 2023 is as follows:
2023
£   
Emoluments etc 310,500

4. OPERATING PROFIT

The operating profit is stated after charging:

2023 2022
£    £   
Hire of plant and machinery 958,112 646,253
Depreciation - owned assets 19,909 34,431
Depreciation - assets on hire purchase contracts 60,487 -
Auditor's remuneration 9,300 7,500
Auditor's remuneration for non audit work 18,912 16,706

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank interest - 2
Other interest 11,821 28,878
Loan interest - 4,219
Hire purchase 24,073 -
35,894 33,099

6. TAXATION

Analysis of the tax charge/(credit)
The tax charge/(credit) on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 34,742 4,313

Deferred tax 5,857 (6,444 )
Tax on profit 40,599 (2,131 )

7. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


TECHCRETE LIMITED (REGISTERED NUMBER: 02071631)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. DIVIDENDS
2023 2022
£    £   
Ordinary shares of £1 each
Final 65,504 65,504
A shares of £1 each
Final - 8,000
65,504 73,504

9. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST OR VALUATION
At 1 January 2023 3,495,000 34,900 60,735
Additions - - 2,632
Disposals - - (386 )
At 31 December 2023 3,495,000 34,900 62,981
DEPRECIATION
At 1 January 2023 - 11,232 28,802
Charge for year - 6,978 12,284
Eliminated on disposal - - (386 )
At 31 December 2023 - 18,210 40,700
NET BOOK VALUE
At 31 December 2023 3,495,000 16,690 22,281
At 31 December 2022 3,495,000 23,668 31,933

TECHCRETE LIMITED (REGISTERED NUMBER: 02071631)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

9. TANGIBLE FIXED ASSETS - continued

Group

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 20,722 59,617 3,670,974
Additions 230,555 72,619 305,806
Disposals - - (386 )
At 31 December 2023 251,277 132,236 3,976,394
DEPRECIATION
At 1 January 2023 17,236 37,260 94,530
Charge for year 46,230 14,904 80,396
Eliminated on disposal - - (386 )
At 31 December 2023 63,466 52,164 174,540
NET BOOK VALUE
At 31 December 2023 187,811 80,072 3,801,854
At 31 December 2022 3,486 22,357 3,576,444

Cost or valuation at 31 December 2023 is represented by:

Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
Valuation in 2016 157,840 - -
Cost 3,337,160 34,900 62,981
3,495,000 34,900 62,981

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 2016 - - 157,840
Cost 251,277 132,236 3,818,554
251,277 132,236 3,976,394

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 3,337,160 3,337,160

Freehold land and buildings were valued on a fair value basis on 31 December 2023 by the directors .

TECHCRETE LIMITED (REGISTERED NUMBER: 02071631)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

9. TANGIBLE FIXED ASSETS - continued

Group

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
Additions 230,555 72,619 303,174
At 31 December 2023 230,555 72,619 303,174
DEPRECIATION
Charge for year 45,359 15,128 60,487
At 31 December 2023 45,359 15,128 60,487
NET BOOK VALUE
At 31 December 2023 185,196 57,491 242,687

Company
Freehold Motor
property vehicles Totals
£    £    £   
COST OR VALUATION
At 1 January 2023
and 31 December 2023 3,495,000 7,695 3,502,695
DEPRECIATION
At 1 January 2023 - 7,530 7,530
Charge for year - 41 41
At 31 December 2023 - 7,571 7,571
NET BOOK VALUE
At 31 December 2023 3,495,000 124 3,495,124
At 31 December 2022 3,495,000 165 3,495,165

Cost or valuation at 31 December 2023 is represented by:

Freehold Motor
property vehicles Totals
£    £    £   
Valuation in 2016 118,697 - 118,697
Cost 3,376,303 7,695 3,383,998
3,495,000 7,695 3,502,695

TECHCRETE LIMITED (REGISTERED NUMBER: 02071631)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

9. TANGIBLE FIXED ASSETS - continued

Company

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 3,376,303 3,376,303

Freehold land and buildings were valued on a fair value basis on 31 December 2023 by the directors .

10. FIXED ASSET INVESTMENTS

Group
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 19,400
NET BOOK VALUE
At 31 December 2023 19,400
At 31 December 2022 19,400
Company
Shares in
group
undertakings
£   
COST
At 1 January 2023 19,601
Additions 1
At 31 December 2023 19,602
NET BOOK VALUE
At 31 December 2023 19,602
At 31 December 2022 19,601

TECHCRETE LIMITED (REGISTERED NUMBER: 02071631)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

10. FIXED ASSET INVESTMENTS - continued

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Gunite (Eastern) Limited
Registered office: Inside the United Kingdom
Nature of business: Gunite repair
%
Class of shares: holding
Ordinary 70.00
2023 2022
£    £   
Aggregate capital and reserves 3,618,104 3,611,862
Profit for the year 6,242 242,955

Lutra Contracting Limited
Registered office: Inside the United Kingdom
Nature of business: Labour provision
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 12,058 7,666
Profit for the year 4,392 64

Gunfire Limited
Registered office: Inside the United Kingdom
Nature of business: Construction services
%
Class of shares: holding
Ordinary 80.00
2023 2022
£    £   
Aggregate capital and reserves 905,294 832,218
Profit for the year 72,951 2,630

Juxta Construction Limited
Registered office: Inside the United Kingdom
Nature of business: Construction
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 1,772 4,334
(Loss)/profit for the year (2,562 ) 74,170

TECHCRETE LIMITED (REGISTERED NUMBER: 02071631)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

10. FIXED ASSET INVESTMENTS - continued

Gunite Special Projects Limited
Registered office: Inside the United Kingdom
Nature of business: Property development
%
Class of shares: holding
Ordinary 100.00
2023
£   
Aggregate capital and reserves (2,150 )
Loss for the year (2,151 )


11. STOCKS

Group
2023 2022
£    £   
Stocks 2,000,375 -
Work-in-progress 403,674 181,137
2,404,049 181,137

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Trade debtors 4,264,935 3,853,322 - -
Amounts owed by group undertakings - 1 - -
Other debtors 254,508 163,563 96 86
Tax 12,884 175,717 - -
VAT - 133,263 - -
Prepayments and accrued income 160,444 171,022 - -
4,692,771 4,496,888 96 86

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans and overdrafts (see note 15) 84,932 241,942 - -
Hire purchase contracts (see note 16) 36,559 - - -
Trade creditors 2,387,242 1,948,000 1,944 1,944
Amounts owed to group undertakings - - 3,292,257 3,237,122
Tax 178,003 165,903 40,083 38,010
Social security and other taxes 654,997 380,672 2,600 2,559
VAT 147,456 - 12,085 12,669
Other creditors 1,278,046 225,691 - -
Accruals and deferred income 1,216,046 610,556 2,093 1,501
5,983,281 3,572,764 3,351,062 3,293,805

TECHCRETE LIMITED (REGISTERED NUMBER: 02071631)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
2023 2022
£    £   
Hire purchase contracts (see note 16) 206,820 -

15. LOANS

An analysis of the maturity of loans is given below:

Group
2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 84,932 241,942

The bank loan is secured by a first mortgage over one of the company's freehold properties.

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 36,559 -
Between one and five years 206,820 -
243,379 -

17. PROVISIONS FOR LIABILITIES

Group Company
2023 2022 2023 2022
£    £    £    £   
Deferred tax 42,637 36,780 23,739 22,552

Group
Deferred
tax
£   
Balance at 1 January 2023 36,780
Charge to Income Statement during year 5,857
Balance at 31 December 2023 42,637

TECHCRETE LIMITED (REGISTERED NUMBER: 02071631)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

17. PROVISIONS FOR LIABILITIES - continued

Company
Deferred
tax
£   
Balance at 1 January 2023 22,552
Accelerated capital allowances 1,187
Balance at 31 December 2023 23,739

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 101 101
86 A £1 86 86
10 B £1 10 -
197 187

10 B shares of £1 each were allotted and fully paid for cash at par during the year.

19. RESERVES

Group
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 January 2023 4,545,441 118,697 4,664,138
Profit for the year 86,505 86,505
Dividends (65,504 ) (65,504 )
At 31 December 2023 4,566,442 118,697 4,685,139

Company
Fair
value
reserve
£   
At 1 January 2023
and 31 December 2023 118,697


20. TRANSACTIONS WITH DIRECTORS

During the year, dividends were voted of £65,504 in favour of the directors.

21. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J F Otter.