REGISTERED NUMBER: 06646221 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2024

for

Technical Tunnelling Components Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J P Robertshaw

Mrs G A Jakes

Mr P J Benford

REGISTERED OFFICE:

Unit K, Radius Court

Tungston Park

Off Coventry Road

Hinckley

Leicestershire

LE10 3BE

REGISTERED NUMBER:

06646221 (England and Wales)

ACCOUNTANTS:

torr waterfield

Park House

37 Clarence Street

Leicester

Leicestershire

LE1 3RW

FIXED ASSETS

Intangible assets

4

6,729

11,620

Tangible assets

5

10,113

16,666

16,842

28,286

CURRENT ASSETS

Stocks

67,383

59,901

Debtors

6

143,949

25,183

Cash at bank and in hand

1,218,633

1,302,198

1,429,965

1,387,282

CREDITORS

Amounts falling due within one year

7

(225,729

)

(169,361

)

NET CURRENT ASSETS

1,204,236

1,217,921

TOTAL ASSETS LESS CURRENT LIABILITIES

1,221,078

1,246,207

PROVISIONS FOR LIABILITIES

(2,528

)

(4,166

)

NET ASSETS

1,218,550

1,242,041

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,218,450

1,241,941

SHAREHOLDERS' FUNDS

1,218,550

1,242,041

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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 December 2024 and were signed on its behalf by:

Mrs G A Jakes - Director

1.	STATUTORY INFORMATION

Technical Tunnelling Components 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 represents the value, net of value added tax, of goods and services provided to customers.

Patents and licences

Patents and licences acquired from 2013 to 2020 are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tooling

-

20% on cost

Fixtures and fittings

-

33% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 August 2023

and 31 July 2024

48,912

AMORTISATION

At 1 August 2023

37,292

Amortisation for year

4,891

At 31 July 2024

42,183

NET BOOK VALUE

At 31 July 2024

6,729

At 31 July 2023

11,620

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

Tooling

fittings

equipment

Totals

£

£

£

£

COST

At 1 August 2023

and 31 July 2024

132,372

1,411

3,116

136,899

DEPRECIATION

At 1 August 2023

115,706

1,411

3,116

120,233

Charge for year

6,553

-

-

6,553

At 31 July 2024

122,259

1,411

3,116

126,786

NET BOOK VALUE

At 31 July 2024

10,113

-

-

10,113

At 31 July 2023

16,666

-

-

16,666

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.24

31.7.23

£

£

Trade debtors

119,757

25,183

Other debtors

24,192

-

143,949

25,183

Other debtors include prepayments and accrued income of £7,041 (2023: NIL).

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.24

31.7.23

£

£

Trade creditors

114,853

44,500

Amounts owed to group undertakings

30,000

25,000

Taxation and social security

12,930

29,749

Other creditors

67,946

70,112

225,729

169,361

Other creditors include accruals and deferred income of £5,225 (2023: £5,267).

8.	OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments, guarantees and contingencies that are not included in the balance sheet as at 31 July 2024 is £17,881 (2023: NIL).