Company registration number 09388622 (England and Wales)
TENTAMUS QTS ANALYTICAL LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
TENTAMUS QTS ANALYTICAL LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 9
TENTAMUS QTS ANALYTICAL LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
4
55,342
102,778
Tangible assets
5
136,101
162,221
191,443
264,999
Current assets
Stocks
23,367
27,313
Debtors
6
344,012
122,089
Cash at bank and in hand
52,834
41,121
420,213
190,523
Creditors: amounts falling due within one year
7
(172,326)
(83,903)
Net current assets
247,887
106,620
Net assets
439,330
371,619
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
439,230
371,519
Total equity
439,330
371,619
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered 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 21 January 2025 and are signed on its behalf by:
Dr F J Stubbins
Director
Company Registration No. 09388622
TENTAMUS QTS ANALYTICAL LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2022
100
502,105
502,205
Year ended 31 December 2022:
Loss and total comprehensive income for the year
-
(130,586)
(130,586)
Balance at 31 December 2022
100
371,519
371,619
Year ended 31 December 2023:
Profit and total comprehensive income for the year
-
67,711
67,711
Balance at 31 December 2023
100
439,230
439,330
TENTAMUS QTS ANALYTICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information
Tentamus QTS Analytical Limited is a private company limited by shares incorporated in England and Wales. The registered office is Building 170, Abbott Drive, Kent Science Park, Sittingbourne, Kent, United Kingdom, ME9 8AZ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, however these resources are very much dependant upon the financial position of the parent undertaking, Tentamus UK Limited. The directors note that Tentamus UK limited has recorded a substantial loss for the year ended 31 December 2023 and is reliant upon its parent undertaking for financial support to continue to trade. Based upon this support being given the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
In order to support the company further, during the year Tentamus UK Limited agreed to write off the inter-company loan of £ Nil (2022: £96,167).
1.3
Turnover
Turnover represents revenue from the provision of specialist laboratory analytical services.
Revenue from contracts for the provision of professional services is recognised by reference to the group's internal policy which incorporates stages of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is estimated by reference to incurred costs, mainly in relation to contractual hourly staff rates and materials.
1.4
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have an estimated useful life of ten years and is amortised on a systematic basis over its expected life.
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
33% on cost and 25% on cost
Computers
12.5% on cost
TENTAMUS QTS ANALYTICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.7
Stocks
Stock comprises consumables and chemicals used in testing. Stock is held at cost less any provision against items with short expiry dates.
Work in progress in relation to all business lines is calculated at 75% of the order value, multiplied by a fixed percentage determined by the stage of the testing cycle.
1.8
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
TENTAMUS QTS ANALYTICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.10
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.11
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.12
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.13
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.14
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Exceptional item
2023
2022
£
£
Other operating income
Write off of intercompany loan
-
96,167
In the previous year a group decision was made to write off the intercompany loan with Tentamus UK Limited in full. The loan amounted to £96,167 which included accrued interest to 31 December 2022.
TENTAMUS QTS ANALYTICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
10
10
4
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2023 and 31 December 2023
474,361
Amortisation and impairment
At 1 January 2023
371,583
Amortisation charged for the year
47,436
At 31 December 2023
419,019
Carrying amount
At 31 December 2023
55,342
At 31 December 2022
102,778
5
Tangible fixed assets
Plant and equipment
Computers
Total
£
£
£
Cost
At 1 January 2023
577,825
16,068
593,893
Additions
8,225
4,935
13,160
At 31 December 2023
586,050
21,003
607,053
Depreciation and impairment
At 1 January 2023
416,714
14,958
431,672
Depreciation charged in the year
38,984
296
39,280
At 31 December 2023
455,698
15,254
470,952
Carrying amount
At 31 December 2023
130,352
5,749
136,101
At 31 December 2022
161,111
1,110
162,221
TENTAMUS QTS ANALYTICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
244,592
108,796
Amounts owed by group undertakings
80,964
2,194
Prepayments and accrued income
18,456
11,099
344,012
122,089
7
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
62,303
22,364
Amounts owed to group undertakings
24,282
16,723
Taxation and social security
47,915
14,063
Other creditors
1,434
2,600
Accruals and deferred income
36,392
28,153
172,326
83,903
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
9
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was qualified and the auditor reported as follows:
TENTAMUS QTS ANALYTICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
9
Audit report information
(Continued)
- 8 -
We have audited the financial statements of Tentamus QTS Analytical Limited (the 'company') for the year ended 31 December 2023 which comprise , the balance sheet, the statement of changes in equity and notes to the financial statements, including 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, except for the effects of the matter described in the basis for qualified opinion paragraph, 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 loss 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 qualified opinion
Due to unforeseen circumstances we were unable to observe the counting of physical inventories at the end of the previous year. We were unable to satisfy ourselves by alternative means concerning the inventory quantities held at 31 December 2022, which are included in the balance sheet at £27,313, by using other audit procedures. Consequently we were unable to determine whether any adjustment to this amount was necessary. We were however able to attend the counting of physical inventories at the year ended 31 December 2023 and therefore our qualification is in respect of the opening balances only.
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 Auditor's 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 qualified opinion.
Material uncertainty related to going concern
We draw attention to note 1.2 in the financial statements, which indicates that the company's ability to continue as a going concern is very much dependant upon the financial position of the parent undertaking, Tentamus UK Limited. The directors note that Tentamus UK limited has recorded a substantial loss for the year ended 31 December 2023 and is reliant upon its parent undertaking for financial support to continue to trade.
As stated in note 1.2, these events or conditions, along with other matters as set forth in note 1.2, indicate that a material uncertainty exists that may cast significant doubt on the company’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Senior Statutory Auditor:
Mr Paul Tyler
Statutory Auditor:
Azets Audit Services
10
Financial commitments, guarantees and contingent liabilities
Glas Trust Corporation Limited holds a debenture, as security agent, dated 19 August 2016 over the assets of the company. This debenture is part of a cross corporate guarantee provided for a facility granted to Tentamus Group GmbH.
TENTAMUS QTS ANALYTICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 9 -
11
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2023
2022
£
£
53,763
21,495
12
Parent company
The parent of the smallest group for which consolidated financial statements are drawn up, and of which the company is a member, is Tentamus UK Limited and its registered office is Building 170, Abbott Drive, Kent Science Park, Sittingbourne, Kent, ME9 8AZ, United Kingdom.
The directors consider the ultimate controlling party to be BC Partners LLP.
2023-12-312023-01-01false24 January 2025CCH SoftwareCCH Accounts Production 2024.210No description of principal activityMr. A BarseytenDr F J StubbinsMr Simon J Clifffalsefalse093886222023-01-012023-12-31093886222023-12-31093886222022-12-3109388622core:Goodwill2023-12-3109388622core:Goodwill2022-12-3109388622core:PlantMachinery2023-12-3109388622core:ComputerEquipment2023-12-3109388622core:PlantMachinery2022-12-3109388622core:ComputerEquipment2022-12-3109388622core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3109388622core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3109388622core:CurrentFinancialInstruments2023-12-3109388622core:CurrentFinancialInstruments2022-12-3109388622core:ShareCapital2023-12-3109388622core:ShareCapital2022-12-3109388622core:RetainedEarningsAccumulatedLosses2023-12-3109388622core:RetainedEarningsAccumulatedLosses2022-12-3109388622core:ShareCapital2021-12-3109388622core:RetainedEarningsAccumulatedLosses2021-12-31093886222021-12-3109388622bus:Director22023-01-012023-12-3109388622core:RetainedEarningsAccumulatedLosses2022-01-012022-12-31093886222022-01-012022-12-3109388622core:RetainedEarningsAccumulatedLosses2023-01-012023-12-3109388622core:Goodwill2023-01-012023-12-3109388622core:PlantMachinery2023-01-012023-12-3109388622core:ComputerEquipment2023-01-012023-12-3109388622core:Goodwill2022-12-3109388622core:PlantMachinery2022-12-3109388622core:ComputerEquipment2022-12-31093886222022-12-3109388622bus:PrivateLimitedCompanyLtd2023-01-012023-12-3109388622bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3109388622bus:FRS1022023-01-012023-12-3109388622bus:Audited2023-01-012023-12-3109388622bus:Director12023-01-012023-12-3109388622bus:Director32023-01-012023-12-3109388622bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP