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Company registration number: 01688780







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024


TESTO LIMITED






































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TESTO LIMITED
REGISTERED NUMBER:01688780



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,056,628
1,067,024

  
1,056,628
1,067,024

Current assets
  

Stocks
  
478,875
395,477

Debtors: amounts falling due within one year
 5 
1,770,545
1,884,755

Cash at bank and in hand
  
421,198
641,876

  
2,670,618
2,922,108

Creditors: amounts falling due within one year
 6 
(2,012,136)
(2,222,588)

Net current assets
  
 
 
658,482
 
 
699,520

Total assets less current liabilities
  
1,715,110
1,766,544

Provisions for liabilities
  

Deferred tax
  
(7,891)
(18,705)

  
 
 
(7,891)
 
 
(18,705)

Net assets
  
1,707,219
1,747,839


Capital and reserves
  

Called up share capital 
  
160,000
160,000

Profit and loss account
  
1,547,219
1,587,839

  
1,707,219
1,747,839


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M Windsor
Director

Date: 31 January 2025

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 


TESTO LIMITED
 


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

1.


General information

Testo Limited is a private company, limited by shares, incorporated in England and Wales. The address of the registered office is Cheriton House, Newman Lane, Alton, Hampshire, GU34 2QJ.
The financial statements are presented in GBP, which is the functional currency of the company, and rounded to the nearest pound.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

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:

Sale of goods

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.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 2

 


TESTO LIMITED
 


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

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.7

Tangible fixed assets

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.

Page 3

 


TESTO LIMITED
 


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

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2% on cost of buildings
Plant and machinery
-
20% on cost
Fixtures and fittings
-
20% - 33% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting 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 loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 4

 


TESTO LIMITED
 


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

3.


Employees

The average monthly number of employees, including directors, during the year was 41 (2023 - 38).


4.


Tangible fixed assets





Freehold property
Plant and machinery
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 January 2024
1,389,349
26,019
385,212
1,800,580


Additions
-
-
51,968
51,968


Disposals
-
(13,434)
-
(13,434)



At 31 December 2024

1,389,349
12,585
437,180
1,839,114



Depreciation


At 1 January 2024
397,777
25,674
310,105
733,556


Charge for the year on owned assets
18,502
-
43,862
62,364


Disposals
-
(13,434)
-
(13,434)



At 31 December 2024

416,279
12,240
353,967
782,486



Net book value



At 31 December 2024
973,070
345
83,213
1,056,628



At 31 December 2023
991,572
345
75,107
1,067,024

Page 5

 


TESTO LIMITED
 


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

5.


Debtors

2024
2023
£
£


Trade debtors
1,638,215
1,811,196

Amounts owed by group undertakings
1,182
26,516

Other debtors
5,678
167

Prepayments and accrued income
109,068
46,876

Tax recoverable
16,402
-

1,770,545
1,884,755



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Payments received on account
56,784
47,276

Trade creditors
155,876
143,925

Amounts owed to group undertakings
1,142,833
1,223,068

Corporation tax
-
67,226

Other taxation and social security
413,426
406,882

Other creditors
7,470
15,100

Accruals and deferred income
235,747
319,111

2,012,136
2,222,588



7.


Capital commitments


At 31 December 2024 the Company had capital commitments as follows:

2024
2023
£
£


Contracted for but not provided in these financial statements
-
53,906

-
53,906


8.


Related party transactions

Under the provisions of Financial Reporting Standard 102 section 33, the company is exempt from disclosing transactions or balances with other wholly owned group companies.

Page 6

 


TESTO LIMITED
 


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

9.


Controlling party

The Company's immediate parent undertaking is Testo GmbH. The ultimate parent undertaking is Testo SE & Co. KGaA, a company incorporated in Germany.
Testo Limited are included within the consolidated financial statements of Testo SE & Co KGaA and these may be requested from the registered office at Testo SE & Co. KGaA, Celsiusstraße 2, 79822 Titisee-Neustadt, Germany.


10.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 31 January 2025 by Andrew Galliers FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 7