Company registration number 04818745 (England and Wales)
TEGAMA LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
TEGAMA LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9
TEGAMA LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF TEGAMA LIMITED FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tegama Limited for the year ended 31 December 2024 set out on pages 2 to 9 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 at https://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Tegama Limited, as a body, in accordance with the terms of our engagement letter dated 30 September 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Tegama Limited and state those matters that we have agreed to state to the Board of Directors of Tegama Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at icaew.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tegama Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Tegama 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 Tegama Limited. You consider that Tegama 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 Tegama 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 f inancial statements.

Spencer Gardner Dickins Limited
16 September 2025
Chartered Accountants
3 Coventry Innovation Village
Cheetah Road
Coventry
CV1 2TL
TEGAMA LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
24,001
29,155
Investment property
4
15,000,000
15,038,255
Investments
5
1
1
15,024,002
15,067,411
Current assets
Debtors
6
11,033,575
11,975,544
Cash at bank and in hand
376,204
2,695,050
11,409,779
14,670,594
Creditors: amounts falling due within one year
7
(4,732,833)
(1,533,592)
Net current assets
6,676,946
13,137,002
Total assets less current liabilities
21,700,948
28,204,413
Creditors: amounts falling due after more than one year
8
-
0
(4,100,000)
Net assets
21,700,948
24,104,413
Capital and reserves
Called up share capital
9
8,000,100
8,000,100
Non-distributable profits reserve
10
-
0
1,772,947
Distributable profit and loss reserves
13,700,848
14,331,366
Total equity
21,700,948
24,104,413

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

TEGAMA LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 16 September 2025 and are signed on its behalf by:
G A Hall
Director
Company registration number 04818745 (England and Wales)
TEGAMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
1
Accounting policies
Company information

Tegama Limited is a private company limited by shares incorporated in England and Wales. The registered office is Stableyard Cottage, Barby, Rugby, CV23 8TF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Turnover
Turnover represents rents and insurance income receivable and is stated net of value added tax.
1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Plant and machinery
10% straight line
Computer equipment
33% straight line
1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

TEGAMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.7
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profit and its results as stated in the financial statements.
Deferred tax is measured at the average tax rates that are expected to apply in the periods in which timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantially enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis.
1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

TEGAMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
6
6
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 and 31 December 2024
49,615
Depreciation and impairment
At 1 January 2024
20,460
Depreciation charged in the year
5,154
At 31 December 2024
25,614
Carrying amount
At 31 December 2024
24,001
At 31 December 2023
29,155
4
Investment property
2024
£
Fair value
At 1 January 2024
15,038,255
Additions
2,675,861
Revaluation in the year
(2,714,116)
At 31 December 2024
15,000,000

The fair value of the investment properties has been arrived at on the basis of a valuation carried out by an independent firm of chartered surveyors on 22 March 2024 which factored into the valuation anticipated additions to the properties actually incurred up to the year end.

TEGAMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
4
Investment property
(Continued)
- 7 -
If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2024
2023
£
£
Cost
15,878,103
13,202,242
Accumulated depreciation
-
-
Carrying amount
15,878,103
13,202,242
5
Fixed asset investments
2024
2023
£
£
Investments
1
1
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 January 2024 & 31 December 2024
1
Carrying amount
At 31 December 2024
1
At 31 December 2023
1

Fixed asset investments are stated at cost. No provision is required for diminution in value.

6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
42,989
-
0
Corporation tax recoverable
10,454
1,030,797
Amounts owed by group undertakings
7,902,913
8,204,100
Other debtors
2,675,614
2,713,991
Prepayments and accrued income
15,443
23,229
10,647,413
11,972,117
Deferred tax asset
2,786
3,427
10,650,199
11,975,544
TEGAMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
6
Debtors
(Continued)
- 8 -
2024
2023
Amounts falling due after more than one year:
£
£
Corporation tax recoverable
383,376
-
0
Total debtors
11,033,575
11,975,544

The amounts owed by group undertakings are interest free and repayable on demand.

7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
4,100,430
1,051
Trade creditors
148,928
485,077
Amounts owed to group undertakings
-
0
301,187
Corporation tax
-
0
23,813
Other taxation and social security
2,681
4,015
Other creditors
340,991
672,546
Accruals
139,803
45,903
4,732,833
1,533,592

Bank loans are secured by fixed charges over investment property.

The amounts due to group undertakings are interest free and repayable on demand.

8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
-
0
4,100,000

Bank loans are secured by fixed charges over investment property.

9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Deferred ordinary shares of £1 each
100
100
100
100
Ordinary shares of £1 each
8,000,000
8,000,000
8,000,000
8,000,000
8,000,100
8,000,100
8,000,100
8,000,100
TEGAMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
10
Non-distributable profits reserve
2024
2023
£
£
At the beginning of the year
1,772,947
1,772,947
Unrealised fair value adjustment on property valuation in the year
(1,772,947)
-
At the end of the year
-
1,772,947
11
Related party transactions
Transactions with related parties

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due from related parties
£
£
Other related parties
2,473,894
2,520,866

Amounts owed are interest free and repayable on demand.

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