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REGISTERED NUMBER: 05763831















TEDDINGTON ELECTRONICS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024






TEDDINGTON ELECTRONICS LIMITED (REGISTERED NUMBER: 05763831)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


TEDDINGTON ELECTRONICS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTOR: Mr J I Henderson





REGISTERED OFFICE: Teddington Building
Stennack Road
Holmbush
St. Austell
Cornwall
PL25 3HG





REGISTERED NUMBER: 05763831





ACCOUNTANTS: Rothmans CF Limited
Fryern House
125 Winchester Road
Chandlers Ford
Hampshire
SO53 2DR

ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
TEDDINGTON ELECTRONICS LIMITED


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 Electronics Limited for the year ended 30 September 2024 which comprise the Statement of Income and Retained Earnings, 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 Electronics Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Teddington Electronics Limited and state those matters that we have agreed to state to the director of Teddington Electronics Limited 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 Electronics Limited and its director for our work or for this report.

It is your duty to ensure that Teddington Electronics Limited 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 loss of Teddington Electronics Limited. You consider that Teddington Electronics Limited 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 Electronics Limited. 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.






Rothmans CF Limited
Fryern House
125 Winchester Road
Chandlers Ford
Hampshire
SO53 2DR


19 June 2025

TEDDINGTON ELECTRONICS LIMITED (REGISTERED NUMBER: 05763831)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £ £ £
FIXED ASSETS
Tangible assets 3 83,515 67,893

CURRENT ASSETS
Stocks 4 253,513 273,180
Debtors 5 693,047 1,036,233
Cash at bank and in hand 4,588 135,427
951,148 1,444,840
CREDITORS
Amounts falling due within one year 6 897,221 1,097,003
NET CURRENT ASSETS 53,927 347,837
TOTAL ASSETS LESS CURRENT
LIABILITIES

137,442

415,730

CREDITORS
Amounts falling due after more than one
year

7

158,441

-
NET (LIABILITIES)/ASSETS (20,999 ) 415,730

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (21,099 ) 415,630
SHAREHOLDERS' FUNDS (20,999 ) 415,730

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 June 2025 and were signed by:





Mr J I Henderson - Director


TEDDINGTON ELECTRONICS LIMITED (REGISTERED NUMBER: 05763831)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A ''Small entities'' of Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland'' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentation currency is £ sterling.

Going concern
The company has negative reserves and is reliant on the support of its parent company and director, who believes it is appropriate for the financial statements to be prepared on the going concern basis.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date, and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

LeasesA lease that does not transfer substantially all of the risks and rewards of
ownership is classified as an operating lease and is therefore not included in the
balance sheet.

Turnover
Turnover, which excludes value added tax, trade discounts and sales agents' commission, represents the value of goods supplied during the year, as adjusted for accrued and deferred income. Revenue is recognised in the accounts on dispatch of the product.

Tangible fixed assets
All tangible fixed assets are initially recognised at cost and subsequently carried at cost less accumulated depreciation and accumulated impairment losses.

The cost of tangible fixed assets initially recognised includes its purchase price and any cost that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in a manner intended by management.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant and machinery3 to 10 years straight line

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Tangible fixed assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in the Statement of Income and Retained Earnings.

Stocks and work in progress
Stocks 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. Costs include all direct material and direct labour costs. Net realisable value is based on estimated selling price less additional costs to completion and disposal.


TEDDINGTON ELECTRONICS LIMITED (REGISTERED NUMBER: 05763831)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. ACCOUNTING POLICIES - continued
Taxation
The charge for taxation is based on the profit for the year and takes into account taxation deferred.

Current tax is measured at amounts expected to be paid using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Where taxable losses are available these are relieved against taxable profits in other group companies. No charge is made for the losses surrendered.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date except that the recognition of deferred tax assets is limited to the extent that the company anticipates generating sufficient taxable profits in the future to fully absorb the reversal of the underlying timing difference.

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


Foreign currencies
Foreign currency transactions during the year are translated into sterling at the exchange rate ruling on the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date. All exchange differences are dealt with through the Statement of Income and Retained Earnings.

Leasing commitments
Rentals paid under operating leases are charged to the Statement of Income and Retained Earnings on a straight line basis over the lease term.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the pension scheme are charged to the Statement of Income and Retained Earnings in the period to which they relate.

Financial instruments
The company only has financial assets and liabilities of the kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and debt instruments are subsequently measured at amortised cost.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Grants
Grants of a capital nature are credited to the Statement of Income and Retained Earnings at the same rate as the depreciation on the assets to which the grant relates. The deferred element of the grant is included within creditors as deferred income.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 17 ) .

TEDDINGTON ELECTRONICS LIMITED (REGISTERED NUMBER: 05763831)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


3. TANGIBLE FIXED ASSETS
Plant and
machinery
£
COST
At 1 October 2023 406,241
Additions 40,384
At 30 September 2024 446,625
DEPRECIATION
At 1 October 2023 338,348
Charge for year 24,762
At 30 September 2024 363,110
NET BOOK VALUE
At 30 September 2024 83,515
At 30 September 2023 67,893


4. STOCKS
2024 2023
£ £
Raw materials 191,709 170,719
Work-in-progress 48,963 79,545
Finished goods 12,841 22,916
253,513 273,180

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 146,120 214,281
Amounts owed by group undertakings 507,095 775,497
Other debtors 15,838 14,483
VAT - 10,840
Prepayments and accrued income 23,994 21,132
693,047 1,036,233

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank facilities 144,916 -
Other loans 33,637 -
Trade creditors 62,514 161,138
Amounts owed to group undertakings 620,950 883,467
Social security and other taxes 9,302 15,161
VAT 7,705 -
Accruals and deferred income 18,197 37,237
897,221 1,097,003

TEDDINGTON ELECTRONICS LIMITED (REGISTERED NUMBER: 05763831)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Other loans - 1-2 years 36,972 -
Other loans - 2-5 years 121,469 -
158,441 -

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 66,937 58,853
Between one and five years 244,170 235,412
In more than five years 176,559 235,412
487,666 529,677

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Other loans 192,078 -

Other loans are secured by a debenture over the property, assets and undertaking of the Company.

10. CONTINGENT LIABILITIES

The company has entered into a cross guarantee arrangement with its fellow group companies, Teddington Appliance Controls Limited and Henderson Industries Limited in respect of their bank facilities. The balance as at 30 September 2024 is £583,897 (2023: £78,903).

11. 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.

During the year royalties of £1,125 (2023: £1,838) were paid to a company with common directors. The balance due to the related party at the year end was £Nil (2023: £Nil).

12. ULTIMATE PARENT COMPANY AND ULTIMATE CONTROLLING PARTY

The ultimate parent company is Henderson Industries Limited, a company incorporated in England and Wales. The ultimate controlling party is Mr J I Henderson.