IRIS Accounts Production v25.1.3.33 04688666 director 1.9.23 31.8.24 31.8.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh046886662023-08-31046886662024-08-31046886662023-09-012024-08-31046886662022-08-31046886662022-09-012023-08-31046886662023-08-3104688666ns15:EnglandWales2023-09-012024-08-3104688666ns14:PoundSterling2023-09-012024-08-3104688666ns10:Director12023-09-012024-08-3104688666ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3104688666ns10:SmallEntities2023-09-012024-08-3104688666ns10:AuditExemptWithAccountantsReport2023-09-012024-08-3104688666ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-3104688666ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-3104688666ns10:FullAccounts2023-09-012024-08-310468866612023-09-012024-08-3104688666ns10:CompanySecretary12023-09-012024-08-3104688666ns10:RegisteredOffice2023-09-012024-08-3104688666ns5:CurrentFinancialInstruments2024-08-3104688666ns5:CurrentFinancialInstruments2023-08-3104688666ns5:ShareCapital2024-08-3104688666ns5:ShareCapital2023-08-3104688666ns5:CapitalRedemptionReserve2024-08-3104688666ns5:CapitalRedemptionReserve2023-08-3104688666ns5:RetainedEarningsAccumulatedLosses2024-08-3104688666ns5:RetainedEarningsAccumulatedLosses2023-08-3104688666ns5:PatentsTrademarksLicencesConcessionsSimilar2023-09-012024-08-3104688666ns5:LeaseholdImprovements2023-09-012024-08-3104688666ns5:PlantMachinery2023-09-012024-08-3104688666ns5:FurnitureFittings2023-09-012024-08-3104688666ns5:MotorVehicles2023-09-012024-08-3104688666ns5:ComputerEquipment2023-09-012024-08-3104688666ns5:PatentsTrademarksLicencesConcessionsSimilar2023-08-3104688666ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-08-3104688666ns5:PatentsTrademarksLicencesConcessionsSimilar2024-08-3104688666ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2024-08-3104688666ns5:PatentsTrademarksLicencesConcessionsSimilar2023-08-3104688666ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-08-3104688666ns5:LeaseholdImprovements2023-08-3104688666ns5:PlantMachinery2023-08-3104688666ns5:FurnitureFittings2023-08-3104688666ns5:LeaseholdImprovements2024-08-3104688666ns5:PlantMachinery2024-08-3104688666ns5:FurnitureFittings2024-08-3104688666ns5:LeaseholdImprovements2023-08-3104688666ns5:PlantMachinery2023-08-3104688666ns5:FurnitureFittings2023-08-3104688666ns5:MotorVehicles2023-08-3104688666ns5:ComputerEquipment2023-08-3104688666ns5:MotorVehicles2024-08-3104688666ns5:ComputerEquipment2024-08-3104688666ns5:MotorVehicles2023-08-3104688666ns5:ComputerEquipment2023-08-3104688666ns5:CostValuation2023-08-3104688666ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-3104688666ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-3104688666ns5:Secured2024-08-3104688666ns5:Secured2023-08-31
REGISTERED NUMBER: 04688666 (England and Wales)












TEDDINGTON ENGINEERED SOLUTIONS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 AUGUST 2024






TEDDINGTON ENGINEERED SOLUTIONS LTD (REGISTERED NUMBER: 04688666)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 9

TEDDINGTON ENGINEERED SOLUTIONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTOR: P A Greenwood



SECRETARY: P A Greenwood



REGISTERED OFFICE: Unit 1
Heol Cropin
Dafen Park
Llanelli
Carmarthenshire
SA14 8QW



REGISTERED NUMBER: 04688666 (England and Wales)



ACCOUNTANTS: Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA



BANKERS: Barclays Bank plc
16 Vaughan Street
Llanelli
Carmarthenshire
SA15 3UE

TEDDINGTON ENGINEERED SOLUTIONS LTD (REGISTERED NUMBER: 04688666)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 168,743 135,805
Investments 6 9 9
168,752 135,814

CURRENT ASSETS
Inventories 1,152,725 1,107,782
Debtors 7 3,499,499 3,411,615
Cash at bank and in hand 391,094 425,271
5,043,318 4,944,668
CREDITORS
Amounts falling due within one year 8 1,212,070 1,280,482
NET CURRENT ASSETS 3,831,248 3,664,186
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,000,000

3,800,000

CAPITAL AND RESERVES
Called up share capital 100,200 100,200
Capital redemption reserve 25,000 25,000
Retained earnings 3,874,800 3,674,800
SHAREHOLDERS' FUNDS 4,000,000 3,800,000

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 29 May 2025 and were signed by:





P A Greenwood - Director


TEDDINGTON ENGINEERED SOLUTIONS LTD (REGISTERED NUMBER: 04688666)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Teddington Engineered Solutions Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The financial statements are prepared in sterling, which is the functional currency of the company. All monetary amounts in these financial statements are rounded to the nearest £.

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 in preparing its financial statements.

Significant judgements and estimates
In application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Useful economic lives of tangible assets
The annual depreciation charges for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See accounting policy for Tangible Assets for the useful economic lives of each class of asset.

Impairment of debtors
The company makes an estimate of the recoverable value of the trade and other debtors. when assessing impairment of trade and other debtors, management considers factors including the ageing profile of the debtors and historical experience.

Stock provisioning
When considering the recoverability of the cost of stock and the associated provision required, management considers the nature and condition of the stock, as well as applying assumption around anticipated saleability of finished goods and usage of raw materials.

Turnover
The turnover and profit before taxation are attributable to the one principal activity of the company.

Sales are not recognised until all goods are dispatched and full certification documentation is issued and accepted by the customer. This is in line with contractual obligation. Where contracts allow part shipments then the sale is recognised.

Intangible assets
Intangible assets are held at cost and are depreciated in line with their deemed useful life.

TEDDINGTON ENGINEERED SOLUTIONS LTD (REGISTERED NUMBER: 04688666)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - in accordance with the property lease
Plant and Machinery - 40% on reducing balance and 10% on cost
Fixtures and fittings - 10%, 33% and 50% on cost
Motor vehicles - 33% on cost
Computer equipment - 50% on cost and 33% on cost

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at each statement of financial position date. Where the carrying amount of an asset is greater than its estimated recoverable amount, it is written down immediately to its recoverable amount. Gains and losses on disposals are determined by comparing proceeds with carrying amounts. These are included in the income statement.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks and work in progress
Inventories and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

Net realisable value is based on estimated selling, price less future costs to completion and selling costs. Cost is determined on a first in first out basis.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at transaction price.

Provisions
A provision is recognised in the statement of financial position when the company has a legal or constructive obligation as a result of a past event, where it is more likely than not that an outflow of resources will be required to settle that obligation, and a reliable estimate of the amount can be made.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligation as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligation may be small.

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 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.


TEDDINGTON ENGINEERED SOLUTIONS LTD (REGISTERED NUMBER: 04688666)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued
Taxation
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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 an average estimated rate for the accounting period, this varies from the FRS 102 requirements of a "spot rate" for each transaction, however the effect of this daccounting in accouting policy is not deemed material to the financial statements. Exchange differences are taken into account in arriving at the operating result.

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.

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.

Invoice discounting
Amounts due in respect of invoice discounting are separately disclosed as current liabilities. The company can use these facilities to draw down a percentage of the value of certain sales invoices. The management and collection of trade receivables remains with the company.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the relevant instrument. Financial assets are derecognised when the rights to receive benefits have expired or been transferred, and the company has transferred substantially all risks and rewards of ownership. Financial liabilities are derecognised when the obligation is extinguished.

Non-derivative financial assets are classified as either loans and receivables or cash and cash equivalents. They are stated at amortised cost using the effective interest method, subject to reduction for allowances for estimated irrecoverable amounts. A provision for impairment of trade receivables is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of those receivables. The amount of the provision is the difference between the asset's carrying amount and the present value of estimated future cash flows, and is recognised in the income statement. For interest-bearing assets, their carrying value includes accrued interest receivable.

Cash and cash equivalents include cash in hand and deposits held on call, together with other short-term highly liquid investments. Non-derivative financial liabilities (classified as other payables) are stated at amortised cost using the effective interest method. For borrowings, their carrying value includes accrued interest payable, as well as any unamortised issue costs.

The company transacts derivative financial instruments to manage the underlying exposure to foreign exchange and interest rate risks. The company does not transact derivative financial instruments for trading purposes. However, as the company has decided not to hedge account for its derivative financial instruments as permitted under lAS 39, they are accounted for through the income statement. Derivative financial assets and liabilities are stated at fair value, which includes accrued interest receivable and payable where relevant. Changes in fair values are recognised in the income statement in the period in which they arise.

TEDDINGTON ENGINEERED SOLUTIONS LTD (REGISTERED NUMBER: 04688666)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued

Government grants
Government grants are recorded initially as deferred income and recognised in the income statement in line with the expense to which they contribute. For grants in respect of the purchase of property, plant and equipment, the deferred income is released over the life of the related assets. For grants in respect of staff costs, the deferred income is released over the monitoring period of the grant offer.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 73 (2023 - 71 ) .

4. INTANGIBLE FIXED ASSETS
Intellectual
Brand Property
Names Rights Totals
£    £    £   
COST
At 1 September 2023
and 31 August 2024 20,000 20,000 40,000
AMORTISATION
At 1 September 2023
and 31 August 2024 20,000 20,000 40,000
NET BOOK VALUE
At 31 August 2024 - - -
At 31 August 2023 - - -

5. PROPERTY, PLANT AND EQUIPMENT
Improvements Fixtures
to Plant and and
property Machinery fittings
£    £    £   
COST
At 1 September 2023 512,851 1,216,805 19,596
Additions - 31,250 2,151
Disposals - (4,198 ) -
At 31 August 2024 512,851 1,243,857 21,747
DEPRECIATION
At 1 September 2023 512,851 1,109,695 18,157
Charge for year - 20,977 390
At 31 August 2024 512,851 1,130,672 18,547
NET BOOK VALUE
At 31 August 2024 - 113,185 3,200
At 31 August 2023 - 107,110 1,439

TEDDINGTON ENGINEERED SOLUTIONS LTD (REGISTERED NUMBER: 04688666)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

5. PROPERTY, PLANT AND EQUIPMENT - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2023 18,020 301,712 2,068,984
Additions 36,648 3,634 73,683
Disposals - - (4,198 )
At 31 August 2024 54,668 305,346 2,138,469
DEPRECIATION
At 1 September 2023 18,020 274,456 1,933,179
Charge for year 4,275 10,905 36,547
At 31 August 2024 22,295 285,361 1,969,726
NET BOOK VALUE
At 31 August 2024 32,373 19,985 168,743
At 31 August 2023 - 27,256 135,805

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 September 2023
and 31 August 2024 9
NET BOOK VALUE
At 31 August 2024 9
At 31 August 2023 9

The company holds 100% shareholding of the issued ordinary £1 shares in the following companies:

Teddington Group International Limited
Teddington Hydroflex Limited
Brockington Group International Limited
Genflex Limited
Alpha Bellows Limited
Brockington Bellows Limited
Brockington Engineered Solutions Limited
Teddington Components Limited

All the companies were dormant for the period ended 31 August 2024 and are all registered in England and Wales.

The net assets of each subsidiary companies at 31 August 2024 (with the exception of Teddington Components Limited) was £2.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 773,539 771,617
Other debtors 1,850,783 1,804,092
Advances from invoice discount 719,373 680,894
VAT 21,267 26,713
Prepayments and accrued income 134,537 128,299
3,499,499 3,411,615

TEDDINGTON ENGINEERED SOLUTIONS LTD (REGISTERED NUMBER: 04688666)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

The company has entered into a contract that provides invoiced discounting facilities in respect of its trade debtors.

The invoice discounting facility is secured against the company's trade debtors.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 66,649
Trade creditors 377,477 542,947
Advances from invoice
discounting 396,068 284,016
Social security and other taxes 46,421 43,350
Pension creditor 9,665 8,562
Accruals and deferred income 382,439 334,958
1,212,070 1,280,482

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 66,649

The company's banker Barclays Bank Plc hold the following securities:-

Fixed and floating charges over all the property or undertaking of the company, dated 11/08/2020 and 23/09/2020; and Debenture and cross guarantee, dated 23/09/2020.

The company has entered into a contract that provides invoiced discounting facilities in respect of its trade debtors.

The invoice discounting facility is secured against the company's trade debtors.

10. RELATED PARTY DISCLOSURES

Included in other debtors is the amount of £1,851,198 (2023: £1,786,553) owed to Teddington Engineered Solutions Ltd from it's parent company Teddington Holding Company Ltd.

11. ULTIMATE CONTROLLING PARTY

The controlling party is P A Greenwood.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
TEDDINGTON ENGINEERED SOLUTIONS LTD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Teddington Engineered Solutions Ltd for the year ended 31 August 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Teddington Engineered Solutions Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Teddington Engineered Solutions Ltd and state those matters that we have agreed to state to the director of Teddington Engineered Solutions Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Teddington Engineered Solutions Ltd and its director for our work or for this report.

It is your duty to ensure that Teddington Engineered Solutions Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Teddington Engineered Solutions Ltd. You consider that Teddington Engineered Solutions Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Teddington Engineered Solutions Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA


29 May 2025