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REGISTERED NUMBER: 11604771 (England and Wales)


















Financial Statements

for the Year Ended 31 December 2023

for

TecTake Ltd

TecTake Ltd (Registered number: 11604771)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TecTake Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: T Jurisch





REGISTERED OFFICE: Mappin House
4 Winsley Street
London
W1W 8HF





REGISTERED NUMBER: 11604771 (England and Wales)





AUDITORS: RBS Accountants Limited
16 Beaufort Court
Admirals Way
London
Docklands
London
E14 9XL

TecTake Ltd (Registered number: 11604771)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
CURRENT ASSETS
Debtors 5 13,802,111 13,511,248
Cash at bank 78,733 101,895
13,880,844 13,613,143
CREDITORS
Amounts falling due within one year 6 1,206,466 914,232
NET CURRENT ASSETS 12,674,378 12,698,911
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,674,378

12,698,911

CAPITAL AND RESERVES
Called up share capital 7 500 500
Retained earnings 12,673,878 12,698,411
SHAREHOLDERS' FUNDS 12,674,378 12,698,911

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 5 June 2025 and were signed by:





T Jurisch - Director


TecTake Ltd (Registered number: 11604771)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

TecTake 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.

Revenue and sale of goods
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised.

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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.

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.

TecTake Ltd (Registered number: 11604771)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Foreign currency translation
Foreign currency transactions are translated into the functional currency using the spot exchange
rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

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.

Going concern
As the company is loss making in the second successive year, the Group, headed by Mr Roland Kemmer, has agreed to continue to provide financial support to the company in order for it to continue to operate on a going concern basis for a period of no less than twelve months from the date of signing of these financial statements. As a result the Director has an expectation that the company will have adequate resources to continue in operational existence for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. AUDITORS' REMUNERATION
31.12.23 31.12.22
£    £   
Fees payable to the company's auditors for the audit of the company's financial
statements

10,000

20,000
Auditors' remuneration for non audit work 5,400 5,070

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 21,766 2,944
Amounts owed by group undertakings 13,082,182 12,850,953
Other debtors 574,313 172,329
Tax Recoverable 51,048 454,682
VAT 66,799 -
Accrued income 6,003 -
Prepayments - 30,340
13,802,111 13,511,248

Amount owed by group undertakings are unsecured and repayable on demand. Interest is charged at 2 percentage points per annum above the 12-month EURIBOR interest rate fixed at the end of the previous financial year.

TecTake Ltd (Registered number: 11604771)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 192,109 76,307
Amounts owed to group undertakings 998,957 740,519
Tax - 1,202
VAT - 67,878
Accrued expenses 15,400 28,326
1,206,466 914,232

Amount owed to group undertakings are unsecured and repayable on demand. Interest is charged at 2 percentage points per annum above the 12-month EURIBOR interest rate fixed at the end of the previous financial year.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
500 Ordinary £1 500 500

The shares have attached to them full voting, dividend and capital distribution (including on winding up) rights; they do not confer any rights of redemption.

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

The Report of the Auditors was unqualified.

Ketan Shah (Senior Statutory Auditor)
for and on behalf of RBS Accountants Limited

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under FRS 102, Section 33 Related Party Disclosures paragraph 33.1A, whereby the Company is not required to disclose transactions with other wholly owned subsidiaries or Companies in a group that are wholly owned.

During the year the company incurred interest charges of £663,255.34 (2022 - £196,716) from a related party by virtue of common ownership.The amount outstanding at the balance sheet date was £13,082,182 (2022 - £12,850,953).

During the year the company also incurred interest charges of £634.52 (2022 - £177) on distribution costs from another related party by virtue of common ownership. The amount outstanding at the balance sheet date in respect of these transactions was £12,630.28 (2022 - £11,996).

TecTake Ltd (Registered number: 11604771)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. ULTIMATE CONTROLLING PARTY

The controlling party is Kemmer Beteiligungs GmbH..

The immediate and ultimate parent and controlling company is Kemmer Beteiligungs GmbH, a company incorporated in Germany, by virtue of its 100% shareholding in the company. The results of the company are included within the consolidated financial statements of Kemmer Beteiligungs GmbH, which has a registered office address of Feuerweg 13, 97244, Buetthard, Germany. This is the largest and smallest company in the group of which the company is a member which prepares consolidated accounts.

The ultimate controlling party is considered to be Mr Roland Kemmer.