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REGISTERED NUMBER: 04255058 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

TEST PRODUCTS INTERNATIONAL EUROPE LTD

TEST PRODUCTS INTERNATIONAL EUROPE LTD (REGISTERED NUMBER: 04255058)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TEST PRODUCTS INTERNATIONAL EUROPE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: P Philpott
S Aleskus
J McKenzie
Y D Lee
T Smith
J Atkinson





REGISTERED OFFICE: 3rd Floor
21 Perrymount Road
Haywards Heath
West Sussex
RH16 3TP





REGISTERED NUMBER: 04255058 (England and Wales)





AUDITORS: Galloways Accounting
Statutory Auditors
15 West Street
Brighton
East Sussex
BN1 2RL

TEST PRODUCTS INTERNATIONAL EUROPE LTD (REGISTERED NUMBER: 04255058)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 37,464 37,299
37,464 37,299

CURRENT ASSETS
Stocks 6 330,514 356,500
Debtors 7 596,261 219,708
Cash at bank and in hand 469,576 758,187
1,396,351 1,334,395
CREDITORS
Amounts falling due within one year 8 (1,064,678 ) (1,341,106 )
NET CURRENT ASSETS/(LIABILITIES) 331,673 (6,711 )
TOTAL ASSETS LESS CURRENT LIABILITIES 369,137 30,588

CREDITORS
Amounts falling due after more than one year 9 (13,101 ) -

PROVISIONS FOR LIABILITIES (10,250 ) (9,500 )
NET ASSETS 345,786 21,088

CAPITAL AND RESERVES
Called up share capital 11 34,483 34,483
Retained earnings 311,303 (13,395 )
SHAREHOLDERS' FUNDS 345,786 21,088

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 30 May 2025 and were signed on its behalf by:





P Philpott - Director


TEST PRODUCTS INTERNATIONAL EUROPE LTD (REGISTERED NUMBER: 04255058)

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


1. STATUTORY INFORMATION

Test Products International Europe 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 (£) and have been rounded to the nearest pound.

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.

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. In addition, the company has received assurance from the ultimate parent company that it will provide financial support to the company for at least twelve months from the date of signing these financial statements. On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis.

Related party exemption
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.

Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be measured reliably. Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods
Turnover from the sale of goods and consumables is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on delivery of the goods.

Rendering of services
Turnover relating to the repair and servicing of goods is recongnised in line with the completion of the performance obligation.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, was being amortised evenly over its estimated useful life of five years. It was fully amortised in June 2019.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Short leasehold - 20% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to
complete and sell.

At each balance sheet date, stocks are assessed for impairment, If stock is impaired, the carrying amount is
reduced to its selling price less costs to complete and sell. The impairment is recognised immediately in the
profit and loss.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at
transaction price. Any losses arising from impairment are recognised in the profit and loss account in other
administrative expenses.


TEST PRODUCTS INTERNATIONAL EUROPE LTD (REGISTERED NUMBER: 04255058)

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


2. ACCOUNTING POLICIES - continued
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.

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
Transactions in currencies, other than the functional currency of the company , are recorded at the rate of exchange on the date of the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

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.

Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 94,431
AMORTISATION
At 1 January 2024
and 31 December 2024 94,431
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

TEST PRODUCTS INTERNATIONAL EUROPE LTD (REGISTERED NUMBER: 04255058)

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


5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 7,226 4,502 1,975 67,354 81,057
Additions - - - 16,985 16,985
Impairments (479 ) - - - (479 )
At 31 December 2024 6,747 4,502 1,975 84,339 97,563
DEPRECIATION
At 1 January 2024 2,716 1,308 1,256 38,478 43,758
Charge for year 1,350 996 482 13,513 16,341
At 31 December 2024 4,066 2,304 1,738 51,991 60,099
NET BOOK VALUE
At 31 December 2024 2,681 2,198 237 32,348 37,464
At 31 December 2023 4,510 3,194 719 28,876 37,299

6. STOCKS
2024 2023
£    £   
Finished goods 330,514 356,500

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 398,756 128,336
Other debtors 197,505 91,372
596,261 219,708

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Finance leases (see note 10) 3,125 -
Trade creditors 20,281 33,906
Amounts owed to group undertakings 870,708 1,223,672
Taxation and social security 111,791 49,433
Other creditors 58,773 34,095
1,064,678 1,341,106

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Finance leases (see note 10) 13,101 -

10. LEASING AGREEMENTS

Minimum lease payments under finance leases fall due as follows:

Finance leases
2024 2023
£    £   
Net obligations repayable:
Within one year 3,125 -
Between one and five years 13,101 -
16,226 -

TEST PRODUCTS INTERNATIONAL EUROPE LTD (REGISTERED NUMBER: 04255058)

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


11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
34,483 Ordinary 1 34,483 34,483

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Christian Heeger BSc FCA (Senior Statutory Auditor)
for and on behalf of Galloways Accounting

13. OFF-BALANCE SHEET ARRANGEMENTS

At the year end, the company had non-cancellable operating lease commitments amounting to £143,135 (2023: £153,390). Of these amounts £74,902 (2023: £96,231) were payable more than 1 year from the year end. No non-cancellable operating lease commitments are payable more than 5 years from the year end.

At the year end, the company had non-cancellable finance lease commitments amounting to £18,185 (2023: £nil) relating to leased computer equipment. Of these amounts £14,357 (2023: £nil) were payable more than 1 year from the year end. No non-cancellable finance lease commitments are payable more than 5 years from the year end.

14. ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent undertaking is Test Products International Inc, a company registered in the United States of America. The smallest and largest group consolidating the results of the company is Test Products International Inc. The registered office address of the parent undertaking is 9615 SW Allen Boulevard Suite 105, Beaverton, Oregon 97005 USA.