2023-11-012024-10-312024-10-31false13694506TEC FUSION 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TEC FUSION LIMITED

Registered Number
13694506
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2024

TEC FUSION LIMITED
Company Information
for the year from 1 November 2023 to 31 October 2024

Director

Mindaugas Ivaskevicius

Registered Address

Unit 4, Glenmore Business Park Ely Road
Waterbeach
Cambridge
CB25 9FX

Registered Number

13694506 (England and Wales)
TEC FUSION LIMITED
Balance Sheet as at
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets323,74235,313
23,74235,313
Current assets
Debtors117,0003,000
Cash at bank and on hand-2,168
117,0005,168
Creditors amounts falling due within one year4(276,979)(152,316)
Net current assets (liabilities)(159,979)(147,148)
Total assets less current liabilities(136,237)(111,835)
Net assets(136,237)(111,835)
Capital and reserves
Called up share capital100100
Profit and loss account(136,337)(111,935)
Shareholders' funds(136,237)(111,835)
The financial statements were approved and authorised for issue by the Director on 7 November 2024, and are signed on its behalf by:
Mindaugas Ivaskevicius
Director
Registered Company No. 13694506
TEC FUSION LIMITED
Notes to the Financial Statements
for the year ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Land and buildings5
Vehicles4
Office Equipment3
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Land & buildings

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 November 232,00041,75010,91354,663
At 31 October 242,00041,75010,91354,663
Depreciation and impairment
At 01 November 2310014,6134,63719,350
Charge for year4008,3502,82111,571
At 31 October 2450022,9637,45830,921
Net book value
At 31 October 241,50018,7873,45523,742
At 31 October 231,90027,1376,27635,313
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,3491,349
Taxation and social security74151
Other creditors275,556150,816
Total276,979152,316
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.