REGISTERED NUMBER: 03442807 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

TECKNO DEVELOPMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr E B Langley

Mr A Langley

Mr W H Langley

REGISTERED OFFICE:

Waterside Road

Beverley

East Yorkshire

HU17 0ST

REGISTERED NUMBER:

03442807 (England and Wales)

ACCOUNTANTS:

Sowerby

Chartered Accountants

Beckside Court

Annie Reed Road

Beverley

East Yorkshire

HU17 0LF

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

296,537

384,161

Investments

6

180,000

180,000

476,537

564,161

CURRENT ASSETS

Stocks

149,751

170,038

Debtors

7

1,469,827

1,599,842

Cash at bank

30,046

15,125

1,649,624

1,785,005

CREDITORS

Amounts falling due within one year

8

735,585

807,489

NET CURRENT ASSETS

914,039

977,516

TOTAL ASSETS LESS CURRENT LIABILITIES

1,390,576

1,541,677

CREDITORS

Amounts falling due after more than one year

9

(69,658

)

(112,871

)

PROVISIONS FOR LIABILITIES

(74,134

)

(93,098

)

NET ASSETS

1,246,784

1,335,708

CAPITAL AND RESERVES

Called up share capital

643,539

643,539

Retained earnings

603,245

692,169

SHAREHOLDERS' FUNDS

1,246,784

1,335,708

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 25 July 2025 and were signed on its behalf by:

Mr A Langley - Director

1.	STATUTORY INFORMATION

Teckno Developments Limited is a private company limited by shares and incorporated and domiciled in England. It has its registered office and principal place of business at Waterside Road, Beverley, HU17 0ST

The financial statements are presented in Sterling, which is the functional currency of the company and cover the individual entity only.

The principal activity of the company is manufacturing.

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.

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

The directors, having taken into the factors discussed above as well as the uncertainties of the current economic environment, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Turnover

Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover from the sale of goods is recognised at the point of sale.

Turnover from services is recognised on completion of service, or when those services span the year end date, by reference to the stage of completion at the balance sheet date.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1997 has been fully amortised.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33.3% on cost, 20% on cost and 10% on cost

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making, due allowance for obsolete and slow moving items.

In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture/completion.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

Investments

Investments held as fixed assets are stated at fair value.

Ultimate parent undertaking

The company's ultimate parent undertaking at the balance sheet date was Teckno (Group) Limited, a company registered in England and Wales.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 47 (2023 - 46 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

344,378

AMORTISATION

At 1 January 2024

and 31 December 2024

344,378

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

2,031,003

Additions

29,438

Disposals

(87,157

)

At 31 December 2024

1,973,284

DEPRECIATION

At 1 January 2024

1,646,842

Charge for year

71,666

Eliminated on disposal

(41,761

)

At 31 December 2024

1,676,747

NET BOOK VALUE

At 31 December 2024

296,537

At 31 December 2023

384,161

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2024

87,157

Disposals

(87,157

)

At 31 December 2024

-

DEPRECIATION

At 1 January 2024

38,129

Charge for year

3,632

Eliminated on disposal

(41,761

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

49,028

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2024

and 31 December 2024

180,000

NET BOOK VALUE

At 31 December 2024

180,000

At 31 December 2023

180,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

138,274

341,137

Amounts owed by group undertakings

739,110

630,110

Other debtors

592,443

628,595

1,469,827

1,599,842

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

-

20,000

Hire purchase contracts

43,213

86,480

Trade creditors

205,297

255,480

Taxation and social security

382,635

215,250

Other creditors

104,440

230,279

735,585

807,489

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

69,658

112,871

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

-

20,000

Hire purchase contracts

112,871

199,351

112,871

219,351

Hire purchase purchase liabilities are secured on the related asset financed.

The factoring creditor is secured by trade debtors as quantified in note 10.

11.	GUARANTEES AND OTHER FINANCIAL COMMITMENTS

As at 31 December 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £45,243 (2023; £31,086).

As at 31 December 2024, the company was also party to a bank cross guarantee and debenture with a related company.

This guarantee is secured by fixed and floating charges over the assets of the company.

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

Mr A Langley

Balance outstanding at start of year

113,745

113,985

Amounts advanced

1,333

-

Amounts repaid

-

(240

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

115,078

113,745

Mr E B Langley

Balance outstanding at start of year

1,333

1,333

Amounts repaid

(1,333

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

1,333