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COMPANY REGISTRATION NUMBER: 06381151
Test Equipment Technology Limited
Filleted Unaudited Financial Statements
For the year ended
30 September 2024
Test Equipment Technology Limited
Financial Statements
Year ended 30 September 2024
Contents
Pages
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
3 to 4
Test Equipment Technology Limited
Officers and Professional Advisers
DIRECTOR
P A Norrington
REGISTERED OFFICE
Potton House
Wyboston Lakes
Great North Road
Wyboston
Bedford
MK44 3BZ
ACCOUNTANTS
Streets
Chartered Accountants
Potton House
Wyboston Lakes
Great North Road
Wyboston
Bedford
MK44 3BZ
BANKERS
Barclays Bank PLC
23 High Street
Royston
Hertfordshire
SG8 9AB
Test Equipment Technology Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Current assets
Debtors
4
3,904
1,516
Cash at bank and in hand
398,759
472,291
---------
---------
402,663
473,807
Creditors: amounts falling due within one year
5
20,730
89,563
---------
---------
Net current assets
381,933
384,244
---------
---------
Total assets less current liabilities
381,933
384,244
---------
---------
Net assets
381,933
384,244
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
381,932
384,243
---------
---------
Shareholder funds
381,933
384,244
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 7 March 2025 , and are signed on behalf of the board by:
P A Norrington
Director
Company registration number: 06381151
Test Equipment Technology Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Potton House, Wyboston Lakes, Great North Road, Wyboston, Bedford, MK44 3BZ. The principal place of business is 3 Saxon Way, Melbourn, South Cambridgeshire, UK, SG8 6DN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in UK sterling, which is the functional currency of the entity.
Going concern
The director is intending to cease the company's operations within a period of 12 months from approving the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern.
Revenue recognition
The turnover shown in the statement of income and retained earnings represents goods and services provided during the year, exclusive of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually this is on despatch of the goods.
Exceptional items
Exceptional items are disclosed separately in the financial statements in order to provide further understanding of the financial performance of the entity. They are material items of income or expense that have been shown separately because of their nature or amount.
Taxation
The taxation expense represents the amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the statement of income and retained earnings.
4. Debtors
2024
2023
£
£
Other debtors
3,904
1,516
-------
-------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
13,386
Social security and other taxes
79,942
Other creditors
7,344
9,621
--------
--------
20,730
89,563
--------
--------