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REGISTERED NUMBER: 02611854 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31st October 2024

for

Tec-Lec Limited

Tec-Lec Limited (Registered number: 02611854)






Contents of the Financial Statements
for the year ended 31st October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Tec-Lec Limited

Company Information
for the year ended 31st October 2024







DIRECTOR: Mr P Carter





REGISTERED OFFICE: Black Bull House
353-355 Station Road
Bamber Bridge
Preston
Lancashire
PR5 6EE





REGISTERED NUMBER: 02611854 (England and Wales)





ACCOUNTANTS: Robin Oatridge & Co Limited
Chartered Certified Accountants
Black Bull House
353-355 Station Road
Bamber Bridge
Preston
Lancashire
PR5 6EE

Tec-Lec Limited (Registered number: 02611854)

Balance Sheet
31st October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 8,239 10,832
8,239 10,832

CURRENT ASSETS
Stocks 1,479 1,235
Debtors 6 31,430 37,907
Cash at bank 65,951 71,082
98,860 110,224
CREDITORS
Amounts falling due within one year 7 26,933 34,281
NET CURRENT ASSETS 71,927 75,943
TOTAL ASSETS LESS CURRENT
LIABILITIES

80,166

86,775

PROVISIONS FOR LIABILITIES 1,565 2,058
NET ASSETS 78,601 84,717

CAPITAL AND RESERVES
Called up share capital 14 14
Capital redemption reserve 86 86
Retained earnings 78,501 84,617
SHAREHOLDERS' FUNDS 78,601 84,717

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 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.

Tec-Lec Limited (Registered number: 02611854)

Balance Sheet - continued
31st October 2024


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 24th April 2025 and were signed by:





Mr P Carter - Director


Tec-Lec Limited (Registered number: 02611854)

Notes to the Financial Statements
for the year ended 31st October 2024

1. STATUTORY INFORMATION

Tec-Lec 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Acquired goodwill was written off in equal annual instalments over its estimated useful economic life of 20 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and 15% on reducing balance

Stocks
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.

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

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.

Tec-Lec Limited (Registered number: 02611854)

Notes to the Financial Statements - continued
for the year ended 31st October 2024

2. ACCOUNTING POLICIES - continued

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 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st November 2023
and 31st October 2024 19,000
AMORTISATION
At 1st November 2023
and 31st October 2024 19,000
NET BOOK VALUE
At 31st October 2024 -
At 31st October 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st November 2023
and 31st October 2024 45,210
DEPRECIATION
At 1st November 2023 34,378
Charge for year 2,593
At 31st October 2024 36,971
NET BOOK VALUE
At 31st October 2024 8,239
At 31st October 2023 10,832

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 31,296 37,785
Other debtors 134 122
31,430 37,907

Tec-Lec Limited (Registered number: 02611854)

Notes to the Financial Statements - continued
for the year ended 31st October 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 10,909 9,605
Taxation and social security 13,561 19,473
Other creditors 2,463 5,203
26,933 34,281

8. RELATED PARTY DISCLOSURES

The director has loaned monies to the company and £398 (2023 - £3,084) remained outstanding at the year end. No interest is charged on outstanding amounts, by agreement.

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr P Carter.