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REGISTERED NUMBER: NI072926 (Northern Ireland)















TEC ENGINEERING LIMITED

Unaudited Financial Statements for the Year Ended 30 June 2024






TEC ENGINEERING LIMITED (REGISTERED NUMBER: NI072926)






Contents of the Financial Statements
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


TEC ENGINEERING LIMITED

Company Information
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Mr Niall O'Loughlin
Hannah Gibbs





REGISTERED OFFICE: 16 Churchtown Road
Garvagh
Coleraine
Co. Londonderry
BT51 5BA





REGISTERED NUMBER: NI072926 (Northern Ireland)





ACCOUNTANTS: CavanaghKelly
Chartered Accountants
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP

TEC ENGINEERING LIMITED (REGISTERED NUMBER: NI072926)

Statement of Financial Position
30 JUNE 2024

2024 2023
Notes £ £
NON-CURRENT ASSETS
Property, plant and equipment 5 57,556 73,975

CURRENT ASSETS
Inventories 6 2,578 874
Receivables 7 17,795 44,913
Cash at bank 53,160 74,037
73,533 119,824
PAYABLES
Amounts falling due within one year 8 (155,122 ) (149,899 )
NET CURRENT LIABILITIES (81,589 ) (30,075 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(24,033

)

43,900

PROVISIONS FOR LIABILITIES (14,389 ) (14,055 )
NET (LIABILITIES)/ASSETS (38,422 ) 29,845

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings (38,424 ) 29,843
SHAREHOLDERS' FUNDS (38,422 ) 29,845

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the Company to obtain an audit of its financial statements for the year ended 30 June 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 1 November 2024 and were signed on its behalf by:





Mr Niall O'Loughlin - Director


TEC ENGINEERING LIMITED (REGISTERED NUMBER: NI072926)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

TEC Engineering Limited is a private company, limited by shares , registered in Northern Ireland. 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The accounts are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets.

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

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% reducing balance
Motor vehicles - 25% reducing balance

Inventories
Inventories are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing inventories to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

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.

Cash flow statement
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

TEC ENGINEERING LIMITED (REGISTERED NUMBER: NI072926)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

5. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor
machinery vehicles Totals
£ £ £
COST
At 1 July 2023 115,246 115,700 230,946
Additions 7,800 - 7,800
Disposals - (20,750 ) (20,750 )
At 30 June 2024 123,046 94,950 217,996
DEPRECIATION
At 1 July 2023 61,752 95,219 156,971
Charge for year 14,175 5,120 19,295
Eliminated on disposal - (15,826 ) (15,826 )
At 30 June 2024 75,927 84,513 160,440
NET BOOK VALUE
At 30 June 2024 47,119 10,437 57,556
At 30 June 2023 53,494 20,481 73,975

6. INVENTORIES
2024 2023
£ £
Inventories 2,578 874

7. RECEIVABLES
2024 2023
£ £
Trade receivables 15,020 38,543
Other receivables 2,775 6,370
17,795 44,913

8. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade payables 59,242 52,757
Amounts owed to group undertakings 85,749 86,788
Taxation and social security 6,665 5,964
Other payables 3,466 4,390
155,122 149,899

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
2 Ordinary Share 2 2 2

TEC ENGINEERING LIMITED (REGISTERED NUMBER: NI072926)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.