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REGISTERED NUMBER: 04800288 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

TECDESK (UK) LTD

TECDESK (UK) LTD (REGISTERED NUMBER: 04800288)

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










Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 8

Other Comprehensive Income 9

Statement of Financial Position 10

Statement of Changes in Equity 11

Notes to the Financial Statements 12


TECDESK (UK) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr J Pau
Mr V Pau



SECRETARY: Mr V Pau



REGISTERED OFFICE: 505 Piner Road
Harrow
Middlesex
HA2 6EH



REGISTERED NUMBER: 04800288 (England and Wales)



SENIOR STATUTORY AUDITOR: Prakash Jariwala ACA FCCA



AUDITORS: STGCA LLP t/a Sterling
Chartered Accountants
& Statutory Auditors
505 Pinner Road
Harrow
Middlesex
HA2 6EH

TECDESK (UK) LTD (REGISTERED NUMBER: 04800288)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023


The directors present their strategic report for the year ended 31 December 2023.

PRINCIPAL RISKS AND UNCERTAINTIES
The director continually reviews risks and uncertainties throughout the period and believe that they have the management and systems in place to deal with changing situations.

DEVELOPMENT AND PERFORMANCE
The company earned net profit before tax of £62,321 (2022: £396,408) on revenue of £2,275,329 (2022: £3,651,047). Despite the lower revenue, the comparatively lower direct costs contributed to a higher gross profit margin in the current year, which increased from 26% to 38%. At the year end the Company had net current assets of £1,132,107 (2022: £1,087,301) which are sufficient for the Company to fulfil its working capital requirements. An increase in the loan to connected company has helped improve the net asset position of the company which stood at £1,107,149 (2022: £1,060,039) at the year end.

KEY PERFORMANCE INDICATORS ('KPIS')
In the opinion of the directors, key performance indicators of the Company include profit before interest and tax. This performance indicator has not improved during the year mainly due to an increase in administrative expenses. The key performance indicators are closely monitored by the directors on a regular basis.

ON BEHALF OF THE BOARD:





Mr V Pau - Director


30 September 2024

TECDESK (UK) LTD (REGISTERED NUMBER: 04800288)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2023


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

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of fixed wireless telephony and associated products.

DIVIDENDS
No dividends will be distributed for the year ended 31 December 2023.

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

Mr J Pau
Mr V Pau

DONATIONS
During the year company made donations of £Nil (2022: £25,000) to Santok Charitable Foundation (Charity Reg. 1142691), a charity in which the directors are the trustees.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the 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 of the profit or loss of the company 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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 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 company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

TECDESK (UK) LTD (REGISTERED NUMBER: 04800288)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2023


AUDITORS
The auditors, STGCA LLP t/a Sterling, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr V Pau - Director


30 September 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
TECDESK (UK) LTD


Opinion
We have audited the financial statements of Tecdesk (UK) Ltd (the 'company') for the year ended 31 December 2023 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and 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 company's affairs as at 31 December 2023 and of its 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 company 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 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 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 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 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
TECDESK (UK) LTD


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the 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, or returns adequate for our audit have not been received from branches not visited by us; or
- the 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 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 company or to cease operations, or have no realistic alternative but to do so.

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:

We assessed the susceptibility of the entity's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:

Identifying and assessing the measures management has in place to prevent and detect fraud, Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process.
Challenging assumptions and judgements made by management in its significant estimates, and
Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.


Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulations. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. Therefore, if a breach of operational regulations is not disclosed to us or evident from relevant correspondence, an audit will not detect that breach. The risk is also greater regarding irregularities occurring to fraud other than error, as fraud involves intentional concealment, forgery, collusion, omission, or misrepresentation.

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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
TECDESK (UK) LTD


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.




Prakash Jariwala ACA FCCA (Senior Statutory Auditor)
for and on behalf of STGCA LLP t/a Sterling
Chartered Accountants
& Statutory Auditors
505 Pinner Road
Harrow
Middlesex
HA2 6EH

30 September 2024

TECDESK (UK) LTD (REGISTERED NUMBER: 04800288)

INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

31/12/23 31/12/22
Notes £ £

TURNOVER 2,275,329 3,651,047

Cost of sales 1,530,112 2,705,078
GROSS PROFIT 745,217 945,969

Administrative expenses 688,492 548,456
OPERATING PROFIT 4 56,725 397,513


Interest payable and similar expenses 5 961 1,105
PROFIT BEFORE TAXATION 55,764 396,408

Tax on profit 6 4,089 75,317
PROFIT FOR THE FINANCIAL YEAR 51,675 321,091

TECDESK (UK) LTD (REGISTERED NUMBER: 04800288)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2023

31/12/23 31/12/22
Notes £ £

PROFIT FOR THE YEAR 51,675 321,091


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

51,675

321,091

TECDESK (UK) LTD (REGISTERED NUMBER: 04800288)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

31/12/23 31/12/22
Notes £ £ £ £
FIXED ASSETS
Intangible assets 7 - -
Tangible assets 8 6,847 10,286
6,847 10,286

CURRENT ASSETS
Stocks 9 65,424 34,434
Debtors 10 2,927,416 2,225,713
Cash at bank and in hand 10,762 36,874
3,003,602 2,297,021
CREDITORS
Amounts falling due within one year 11 1,866,930 1,209,720
NET CURRENT ASSETS 1,136,672 1,087,301
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,143,519

1,097,587

CREDITORS
Amounts falling due after more than one
year

12

(30,093

)

(35,655

)

PROVISIONS FOR LIABILITIES 14 (1,712 ) (1,893 )
NET ASSETS 1,111,714 1,060,039

CAPITAL AND RESERVES
Called up share capital 15 100 100
Retained earnings 16 1,111,614 1,059,939
SHAREHOLDERS' FUNDS 1,111,714 1,060,039

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2024 and were signed on its behalf by:





Mr V Pau - Director


TECDESK (UK) LTD (REGISTERED NUMBER: 04800288)

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

Called up
share Retained Total
capital earnings equity
£ £ £
Balance at 1 January 2022 100 738,848 738,948

Changes in equity
Total comprehensive income - 321,091 321,091
Balance at 31 December 2022 100 1,059,939 1,060,039

Changes in equity
Total comprehensive income - 51,675 51,675
Balance at 31 December 2023 100 1,111,614 1,111,714

TECDESK (UK) LTD (REGISTERED NUMBER: 04800288)

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


1. STATUTORY INFORMATION

Tecdesk (UK) Ltd 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 Company 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.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 33.7.

Preparation of consolidated financial statements
The financial statements contain information about Tecdesk (UK) Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, Santok (UK) Ltd, .

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.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax and is recognised when the company has a right to consideration.

Revenue recognition
The company has a right to consideration and therefore turnover is recognised once goods have been delivered and the risks and rewards have passed to the customer.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Patents and licences
Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Patents and licences -10% on cost

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on reducing balance

TECDESK (UK) LTD (REGISTERED NUMBER: 04800288)

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


2. ACCOUNTING POLICIES - continued

Stocks
Stock are stated at the lower of cost, using the first in and first out method, and selling price less selling costs to complete and sell.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 statement of financial position 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.

Interest receivable and interest payable
Interest receivable and interest payable are recognised in profit or loss as they accrue, using the effective interest method.

Trade and other debtors / creditors
Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortized cost using the effective interest method, less any impairment losses in the case of trade debtors.

3. EMPLOYEES AND DIRECTORS

There were no staff costs for the year ended 31 December 2023 nor for the year ended 31 December 2022.

The average number of employees during the year was as follows:
31/12/23 31/12/22

Directors 2 2

31/12/23 31/12/22
£ £
Directors' remuneration - -

TECDESK (UK) LTD (REGISTERED NUMBER: 04800288)

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


4. OPERATING PROFIT

The operating profit is stated after charging:

31/12/23 31/12/22
£ £
Depreciation - owned assets 3,439 3,431
Auditors' remuneration 6,500 10,000

5. INTEREST PAYABLE AND SIMILAR EXPENSES
31/12/23 31/12/22
£ £
Bank loan interest 961 1,105

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31/12/23 31/12/22
£ £
Current tax:
UK corporation tax 4,270 75,956

Deferred tax (181 ) (639 )
Tax on profit 4,089 75,317

7. INTANGIBLE FIXED ASSETS
Patents and
licences
£
COST
At 1 January 2023
and 31 December 2023 7,500
AMORTISATION
At 1 January 2023
and 31 December 2023 7,500
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

TECDESK (UK) LTD (REGISTERED NUMBER: 04800288)

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


8. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£ £ £ £
COST
At 1 January 2023
and 31 December 2023 31,673 150 8,949 40,772
DEPRECIATION
At 1 January 2023 21,397 149 8,940 30,486
Charge for year 3,430 1 8 3,439
At 31 December 2023 24,827 150 8,948 33,925
NET BOOK VALUE
At 31 December 2023 6,846 - 1 6,847
At 31 December 2022 10,276 1 9 10,286

9. STOCKS
31/12/23 31/12/22
£ £
Finished goods 65,424 34,434

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£ £
Trade debtors - 942,067
Amounts owed by connected company 1,155,198 365,770
Amounts owed by group undertakings 1,537,584 832,795
Directors' current accounts 80,003 -
VAT - 12,176
Prepayments 154,631 72,905
2,927,416 2,225,713

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£ £
Bank loans and overdrafts (see note 13) 5,556 5,556
Trade creditors 10,164 58,846
Amounts owed to group undertakings 1,794,234 775,715
Tax 43,226 75,956
Directors' current accounts - 157,983
Accrued expenses 13,750 135,664
1,866,930 1,209,720

TECDESK (UK) LTD (REGISTERED NUMBER: 04800288)

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


12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/23 31/12/22
£ £
Bank loans (see note 13) 30,093 35,655

13. LOANS

An analysis of the maturity of loans is given below:

31/12/23 31/12/22
£ £
Amounts falling due within one year or on demand:
Bank loans 5,556 5,556

Amounts falling due between one and two years:
Bank loans - 1-2 years 5,556 5,556

Amounts falling due between two and five years:
Bank loans - 2-5 years 16,667 16,667

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - over 5 years 7,870 13,432

The company has a government-backed bounce-back loan, which is repayable over ten years with interest at 2.5% per annum.

14. PROVISIONS FOR LIABILITIES
31/12/23 31/12/22
£ £
Deferred tax 1,712 1,893

Deferred tax
£
Balance at 1 January 2023 1,893
Deferred tax movement (181 )
Balance at 31 December 2023 1,712

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/12/23 31/12/22
value: £ £
100 Ordinary £1 100 100

TECDESK (UK) LTD (REGISTERED NUMBER: 04800288)

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


16. RESERVES
Retained
earnings
£

At 1 January 2023 1,059,939
Profit for the year 51,675
At 31 December 2023 1,111,614

17. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end the company was owed £80,003 (2022: £157,983 owed to) by the directors. The loan was interest free and was repaid within 9 months of the year end.

18. RELATED PARTY DISCLOSURES

At the year end the company was owed £890,572 (2022: £115,572) by Santok Asset Management Limited, a company in which the directors have a material interest. The amount owed is interest free and repayable on demand.

At the year end the company was owed £50,000 (2022: £50,000) by Santok Homes (1) Limited, a company in which the directors have a material interest. The amount owed is interest free and repayable on demand.

At the year end the company was owed £200,198 (2022: £200,198) by Pau Capital Limited, a company in which the directors have a material interest. The amount owed is interest free and repayable on demand.

19. ULTIMATE CONTROLLING PARTY

The ultimate holding company is Santok (UK) Ltd, a company registered in England and Wales. The directors of Santok (UK) Ltd are the ultimate controlling party.