Tec Reports Group Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—8

1. General Information

Tec Reports Group Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05946228 . The registered office is Griffin House, 2 Rawdon Road, Moira, Swadlincote, DE12 6DQ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The reporting currency is GBP with the figures stated to the nearest pound.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, for the provision of services in the ordinary course of the company's activities. It is stated net of discounts, returns, rebates and value added taxes. The company recognises turnover when the amount can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

2.4. Tangible Fixed Assets and Depreciation

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives at the following rates:

Freehold	4%
Plant & Machinery	10% to 33%
Motor Vehicles	25%
Fixtures & Fittings	10% to 33%

2.5. Investment Properties

A material proportion of the property owned by the company is rented out and accordingly is classed as as an investment property, which is carried at that proportion of cost less accumulated depreciation having regard to any accumulated impairment losses.

2.6. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

2.7. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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Tec Reports Group Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.8. Taxation

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

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the

financial statements. Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

2.9. Pensions

The company operates a defined pension contribution scheme, a plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2.10. Group Accounts

The group qualifies as a small group and is thus exempt from the requirement to prepare consolidated financial statements.

2.11. Investment in Subsidiary Companies

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. Dividends on equity securities are recognised in income when receivable.

2.12. Financial Instruments

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2.13. Registrar Filing Requirements

The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 32 (2023: 43)

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Tec Reports Group Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Tangible Assets

	Land & Property
	Freehold	Investment Properties	Plant & Machinery	Motor Vehicles
	£	£	£	£
Cost
As at 1 January 2024	187,499	749,997	85,774	47,890
Additions	-	-	10,231	-

As at 31 December 2024	187,499	749,997	96,005	47,890

Depreciation
As at 1 January 2024	30,994	123,979	78,846	46,442
Provided during the period	6,890	27,562	3,332	1,448

As at 31 December 2024	37,884	151,541	82,178	47,890

Net Book Value
As at 31 December 2024	149,615	598,456	13,827	-

As at 1 January 2024	156,505	626,018	6,928	1,448


	Fixtures & Fittings	Total
	£	£
Cost
As at 1 January 2024	10,712	1,081,872
Additions	-	10,231

As at 31 December 2024	10,712	1,092,103

Depreciation
As at 1 January 2024	9,076	289,337
Provided during the period	424	39,656

As at 31 December 2024	9,500	328,993

Net Book Value
As at 31 December 2024	1,212	763,110

As at 1 January 2024	1,636	792,535

5. Investments

	Subsidiaries
	£
Cost or Valuation
As at 1 January 2024	700
Disposals	(100 )

As at 31 December 2024	600

Provision
As at 1 January 2024	200
Disposals	(100 )

As at 31 December 2024	100

...CONTINUED

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Tec Reports Group Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Net Book Value
As at 31 December 2024	500

As at 1 January 2024	500

The value represents the company's 100% ownership of six subsidiary companies (2023 - 7), formed to protect their name. Five of them do not trade - Tec Academy Ltd - Tec Engineers Ltd - Tec Parts Ltd - Tec Reports Limited - Tec Salvage Limited. During the year the seventh company, Eden Bistro Limited, was struck off.

Tec Property Management Limited

The principal activity of Tec Property Management Limited is property management. The profit for the financial period of Tec Property Management Limited was £1,173 and the aggregate amount of Capital and reserves at the end of the period was £(36,196), which has been fully provided for in the parent company.

All subsidiary companies have their registered office at Griffin House, 2 Rawdon Road, Moira, Swadlincote, DE12 6DQ.

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	195,395	184,639
Prepayments and accrued income	49,549	42,874
Other debtors	1,548	555
Deferred tax current asset	-	6,750
Amounts owed by group undertakings	3,673	7,793

	250,165	242,611

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	164,072	154,135
Bank loans and overdrafts	16,307	12,357
Other taxes and social security	16,068	18,704
VAT	75,561	89,174
Other creditors	14,909	13,699
Accruals and deferred income	72,988	75,217

	359,905	363,286

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	148,860	166,006

Of the creditors falling due after more than one year the following amount is due after more than five years.

	2024		2023
	£		£
Bank loans	73,110		123,005

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Tec Reports Group Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

9. Secured Creditors

The bank debenture, described as a loan, is denominated in GB pounds with a nominal interest rate of 3.15% over bank base rate; the final instalment is due on 31 December 2032. The lender has a fixed and floating charge over the assets of the company.

	2024		2023
	£		£
Bank loans and overdrafts	165,166		178,363

10. Deferred Taxation

Accelerated capital allowances now exceed the value of available tax losses. At 31 December 2023 there was a deferred tax asset of £6,750 included in debtors

	2024	2023
	£	£
Other timing differences	15,600	-

11. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

12. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases and other term commitments, not included on the balance sheet are as follows:

	2024	2023
	£	£
Not later than one year	94,710	60,327
Later than one year and not later than five years	141,772	70,147

	236,482	130,474

The company leases and pays for maintenance on motor vehicles over a 39 month period at a cost that is less than the value of acquiring the vehicles outright.

13. Dividends

	2024	2023
	£	£
On equity shares:
Interim dividend paid	2,000	-

Dividends paid were made to the shareholders, who are also directors of the company.

14. Post Balance Sheet Events

Since the end of the financial year the company has enteterd into new finance lease obligations in respect of vehicles with a total outlay of £115,703.

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Tec Reports Group Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

15. Related Party Transactions

Included within debtors is the sum of £1,548 (2023 - £555) paid to a director in advance of expenses being claimed. No interest was chargeable on this amount.

Expenses were incurred, charged by a subsidiary company, to the value of £4,100. This company charged that subsidiary company the sum of £800 for management during 2024.

Bad debts were incurred during the financial year with a subsidiary company to the value of £0 (2023 - £40,170) together with a provision against monies owed from another subsidiary to the value of £0 (2023 - £14,600).

The balance of £3,763 (2023 - £7,793) owing to this company at the end of the financial year is considered recoverable.

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		763,110		792,535
Investments	5		500		500

			763,610		793,035
CURRENT ASSETS
Debtors	6	250,165		242,611
Cash at bank and in hand		125,934		80,435

		376,099		323,046
Creditors: Amounts Falling Due Within One Year	7	(359,905 )		(363,286 )

NET CURRENT ASSETS (LIABILITIES)			16,194		(40,240 )

TOTAL ASSETS LESS CURRENT LIABILITIES			779,804		752,795

Creditors: Amounts Falling Due After More Than One Year	8		(148,860 )		(166,006 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	10		(15,600 )		-

NET ASSETS			615,344		586,789

CAPITAL AND RESERVES
Called up share capital	11		100		100
Profit and Loss Account			615,244		586,689

SHAREHOLDERS' FUNDS			615,344		586,789