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REGISTERED NUMBER: 07932848 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Tek Clad Limited

Tek Clad Limited (Registered number: 07932848)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Tek Clad Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: I T Hambidge





SECRETARY: Mrs M L Hambidge





REGISTERED OFFICE: 23 Coldharbour
Chickerell
Weymouth
Dorset
DT3 4BG





REGISTERED NUMBER: 07932848 (England and Wales)





ACCOUNTANTS: RWB Tax Consultants Limited
G8 Lynch Lane Offices
79 Lynch Lane
Weymouth
Dorset
DT4 9DN

Tek Clad Limited (Registered number: 07932848)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 153,247 134,140
153,247 134,140

CURRENT ASSETS
Stocks 120,000 185,000
Debtors 6 33,516 135,593
Cash at bank 476,499 377,309
630,015 697,902
CREDITORS
Amounts falling due within one year 7 130,940 245,164
NET CURRENT ASSETS 499,075 452,738
TOTAL ASSETS LESS CURRENT
LIABILITIES

652,322

586,878

PROVISIONS FOR LIABILITIES 29,117 25,487
NET ASSETS 623,205 561,391

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 623,105 561,291
SHAREHOLDERS' FUNDS 623,205 561,391

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

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

The director acknowledges his 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.

Tek Clad Limited (Registered number: 07932848)

Balance Sheet - continued
31 July 2024


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 director and authorised for issue on 16 October 2024 and were signed by:





I T Hambidge - Director


Tek Clad Limited (Registered number: 07932848)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Tek Clad 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.

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.

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 - 20% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on reducing balance

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 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.


Tek Clad Limited (Registered number: 07932848)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 9,800
AMORTISATION
At 1 August 2023
and 31 July 2024 9,800
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

Tek Clad Limited (Registered number: 07932848)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

5. TANGIBLE FIXED ASSETS
Freehold Short Plant and
property leasehold machinery
£    £    £   
COST
At 1 August 2023 2,507 2,018 44,017
Additions - - 7,878
Disposals - - -
At 31 July 2024 2,507 2,018 51,895
DEPRECIATION
At 1 August 2023 - - 25,966
Charge for year - - 5,186
Eliminated on disposal - - -
At 31 July 2024 - - 31,152
NET BOOK VALUE
At 31 July 2024 2,507 2,018 20,743
At 31 July 2023 2,507 2,018 18,051

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2023 20,096 159,169 2,413 230,220
Additions 412 54,940 2,298 65,528
Disposals - (16,489 ) - (16,489 )
At 31 July 2024 20,508 197,620 4,711 279,259
DEPRECIATION
At 1 August 2023 5,477 63,413 1,224 96,080
Charge for year 1,503 28,029 1,150 35,868
Eliminated on disposal - (5,936 ) - (5,936 )
At 31 July 2024 6,980 85,506 2,374 126,012
NET BOOK VALUE
At 31 July 2024 13,528 112,114 2,337 153,247
At 31 July 2023 14,619 95,756 1,189 134,140

Tek Clad Limited (Registered number: 07932848)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 17,743 30,096
Other debtors 7,304 9,054
Directors' current accounts - 1,529
VAT - 42,828
Prepayments and accrued income 2,942 2,942
Prepayments 5,527 49,144
33,516 135,593

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 68,553 234,849
Tax 44,206 3,322
Social security and other taxes 9,847 5,443
VAT 5,997 -
Directors' current accounts 722 -
Accrued expenses 1,615 1,550
130,940 245,164

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
100 Ordinary £1 100 100

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr & Mrs Hambidge.