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REGISTERED NUMBER: 02787537 (England and Wales)













TEK LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






TEK LIMITED (REGISTERED NUMBER: 02787537)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 4

Report of the Accountants 5

TEK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: M J Callard
P D Virgo
N Sullivan
J Cartland





REGISTERED OFFICE: 31 St John's
Worcester
Worcestershire
WR2 5AG





REGISTERED NUMBER: 02787537 (England and Wales)





ACCOUNTANTS: Gardiner Fosh
Chartered Accountants
31 St John's
Worcester
Worcestershire
WR2 5AG

TEK LIMITED (REGISTERED NUMBER: 02787537)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,680 36,594

CURRENT ASSETS
Stocks 107,997 100,249
Debtors 5 249,662 394,267
Cash in hand 21 52
357,680 494,568
CREDITORS
Amounts falling due within one year 6 341,774 481,096
NET CURRENT ASSETS 15,906 13,472
TOTAL ASSETS LESS CURRENT LIABILITIES 31,586 50,066

CREDITORS
Amounts falling due after more than one year 7 2,767 27,288
NET ASSETS 28,819 22,778

CAPITAL AND RESERVES
Called up share capital 17,930 20,000
Retained earnings 10,889 2,778
SHAREHOLDERS' FUNDS 28,819 22,778

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2024 and were signed on its behalf by:




N Sullivan - Director



J Cartland - Director


TEK LIMITED (REGISTERED NUMBER: 02787537)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

TEK 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 Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and services, and interim contract work in progress applications, excluding value added tax.

Stocks
Stocks of materials and components are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Work in progress is valued at direct cost plus estimated attributable overheads.

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 balance sheet date.

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.

Hire purchase and leasing commitments
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 company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Tangible fixed assets
Tangible fixed assets are initially capitalised at cost and are depreciated at varying rates on cost or revalued amount over their expected useful economic life.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 18 ) .

4. TANGIBLE FIXED ASSETS


Fixed assets previously fully depreciated but in continuing use for manufacture and administration were revalued to a fair estimate of recoverable value [always less than original cost] as at 31 March 2021.

TEK LIMITED (REGISTERED NUMBER: 02787537)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 95,990 213,380
Amounts recoverable on
contracts 146,314 172,730
Other debtors 7,358 8,157
249,662 394,267

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 82,741 80,972
Trade creditors 172,611 274,172
Taxation and social security 43,531 51,173
Other creditors 42,891 74,779
341,774 481,096

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 24,521
Amounts owed to group undertakings 2,767 2,767
2,767 27,288

8. SECURED DEBTS

HSBC Bank Limited holds a Debenture over the assets of the company dated 11 November 2009.

9. RELATED PARTY DISCLOSURES

The company was under the joint control of Mr N Sullivan and Mr J Cartland throughout the year by virtue of their joint holding of all issued share capital in the holding company TEK UK Limited.

Messrs Callard and Virgo are beneficiaries of TEK Executive Pension Scheme to whom the company paid rent of £78,441 for the year. This is based on an independently advised open market rental.

TEK LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
TEK LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2024 set out on pages three to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Gardiner Fosh
Chartered Accountants
31 St John's
Worcester
Worcestershire
WR2 5AG


10 October 2024