Company registration number 1918943 (England and Wales)
TECHNIVAC LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
TECHNIVAC LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 9
TECHNIVAC LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
175
619
Tangible assets
5
242,020
343,221
242,195
343,840
Current assets
Stocks
7,255
9,843
Debtors
6
393,382
701,217
Cash at bank and in hand
370,880
815,097
771,517
1,526,157
Creditors: amounts falling due within one year
7
(190,305)
(582,481)
Net current assets
581,212
943,676
Total assets less current liabilities
823,407
1,287,516
Creditors: amounts falling due after more than one year
8
(18,720)
(45,174)
Provisions for liabilities
(65,010)
(66,344)
Net assets
739,677
1,175,998
Capital and reserves
Called up share capital
313,500
313,500
Capital redemption reserve
15,000
15,000
Profit and loss reserves
411,177
847,498
Total equity
739,677
1,175,998

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

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

The financial statements were approved by the board of directors and authorised for issue on
15 October 2025
15 October 2025
and are signed on its behalf by:
Mr A J Hixon
Director
Company registration number 1918943 (England and Wales)
TECHNIVAC LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Technivac Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 6 Horsefair Road, Waterton Industrial Estate, Bridgend, CF31 3YN.

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. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Turnover is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, turnover is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Turnover from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, turnover is recognised only to the extent of the expenses recognised that are recover able.

1.3
Research and development expenditure

In the research phase of an internal project, it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured.

If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

1.4
Intangible fixed assets other than goodwill

Development costs represent expenditure incurred in the research and development of the technological processes associated with the company's principal activity of catalyst handling and molecular sieve changeouts. Costs are internally generated and are regarded to have a finite life of 7 years.

TECHNIVAC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -

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

Development Costs
14.29% straight line
1.5
Tangible fixed assets

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

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

Land and buildings Leasehold
15% straight line
Plant and machinery
15% straight line
Fixtures, fittings & equipment
20% straight line
Computer equipment
33.3% straight line
Motor vehicles
20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

TECHNIVAC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.10
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.

1.11
Taxation

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

TECHNIVAC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
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 tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

TECHNIVAC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -
1.15
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

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

2024
2023
Number
Number
Total
18
17
4
Intangible fixed assets
Other
£
Cost
At 1 January 2024 and 31 December 2024
296,616
Amortisation and impairment
At 1 January 2024
295,997
Amortisation charged for the year
444
At 31 December 2024
296,441
Carrying amount
At 31 December 2024
175
At 31 December 2023
619
TECHNIVAC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
5
Tangible fixed assets
Land and buildings Leasehold
Plant and machinery
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 January 2024
29,104
644,266
23,413
45,531
178,310
920,624
Additions
-
0
4,880
2,977
866
-
0
8,723
Disposals
-
0
(13,668)
(1,465)
(10,298)
-
0
(25,431)
At 31 December 2024
29,104
635,478
24,925
36,099
178,310
903,916
Depreciation and impairment
At 1 January 2024
29,104
429,741
20,412
23,927
74,219
577,403
Depreciation charged in the year
-
0
48,137
1,527
8,793
31,123
89,580
Impairment losses
-
0
20,344
-
0
-
0
-
0
20,344
Eliminated in respect of disposals
-
0
(13,668)
(1,465)
(10,298)
-
0
(25,431)
At 31 December 2024
29,104
484,554
20,474
22,422
105,342
661,896
Carrying amount
At 31 December 2024
-
0
150,924
4,451
13,677
72,968
242,020
At 31 December 2023
-
0
214,525
3,001
21,604
104,091
343,221
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
228,353
457,653
Corporation tax recoverable
101,085
-
0
Other debtors
38,513
21,721
Prepayments and accrued income
25,431
221,843
393,382
701,217
TECHNIVAC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Obligations under finance leases
9
26,551
22,852
Trade creditors
39,834
165,841
Corporation tax
-
0
168,502
Other taxation and social security
13,431
163,796
Other creditors
71,700
51,000
Accruals and deferred income
38,789
10,490
190,305
582,481
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
18,720
45,174

9
Finance lease obligations
2024
2023
Future minimum lease payments due under finance leases:
£
£
Within one year
26,551
22,852
In two to five years
18,720
45,174
45,271
68,026

Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 3 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

10
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

TECHNIVAC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
10
Audit report information
(Continued)
- 9 -
Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Nicholas Bassett
Statutory Auditor:
Harris Bassett Limited
Date of audit report:
15 October 2025
11
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
Total commitments
17,384
68,026
12
Events after the reporting date

On 18 July 2025, the company completed the purchase of a new property located at Ewenny Industrial Estate, Bridgend for a total consideration of £1,056,652. This transaction occurred after the end of the reporting period and does not relate to conditions existing at the balance sheet date. Accordingly, it is classified as a non-adjusting event under FRS 102 Section 32.

To finance the acquisition, the company entered into a mortgage agreement with Lloyds Bank for £706,237. The mortgage is repayable over 15 years at an interest rate of 2.64% over base rate. This financing arrangement also occurred after the reporting date and is therefore a non-adjusting event.

The financial statements have not been adjusted to reflect these transactions. However, due to their material nature, disclosure is considered appropriate.

13
Parent company

The company's immediate parent is Cakasa (Nigeria) Company Limited.

Copies of Cakasa (Nigeria) Company Limited's consolidated financial statements can be obtained from the Company Secretary at 96 Palm Avenue, P O Box 871, Mushin, Lagos, Nigeria.

2024-12-31 2024-01-01 false false false 15 October 2025 CCH Software CCH Accounts Production 2025.100 No description of principal activity Mr Philip Yaro Mr Christopher Alabi Mr Hyacinth Enuha Mrs Mojisola Omisore Mr Gabriel Nkanyimuo Mr Mohammed Shaibu Mr Andrew Hixon Mr B O Olise 1918943 2024-01-01 2024-12-31 1918943 2024-12-31 1918943 2023-12-31 1918943 core:IntangibleAssetsOtherThanGoodwill 2024-12-31 1918943 core:IntangibleAssetsOtherThanGoodwill 2023-12-31 1918943 core:LandBuildings core:LeasedAssetsHeldAsLessee 2024-12-31 1918943 core:PlantMachinery 2024-12-31 1918943 core:FurnitureFittings 2024-12-31 1918943 core:ComputerEquipment 2024-12-31 1918943 core:MotorVehicles 2024-12-31 1918943 core:LandBuildings core:LeasedAssetsHeldAsLessee 2023-12-31 1918943 core:PlantMachinery 2023-12-31 1918943 core:FurnitureFittings 2023-12-31 1918943 core:ComputerEquipment 2023-12-31 1918943 core:MotorVehicles 2023-12-31 1918943 core:ShareCapital 2024-12-31 1918943 core:ShareCapital 2023-12-31 1918943 core:CapitalRedemptionReserve 2024-12-31 1918943 core:CapitalRedemptionReserve 2023-12-31 1918943 core:RetainedEarningsAccumulatedLosses 2024-12-31 1918943 core:RetainedEarningsAccumulatedLosses 2023-12-31 1918943 bus:Director7 2024-01-01 2024-12-31 1918943 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 1918943 core:LandBuildings core:LongLeaseholdAssets 2024-01-01 2024-12-31 1918943 core:PlantMachinery 2024-01-01 2024-12-31 1918943 core:FurnitureFittings 2024-01-01 2024-12-31 1918943 core:ComputerEquipment 2024-01-01 2024-12-31 1918943 core:MotorVehicles 2024-01-01 2024-12-31 1918943 2023-01-01 2023-12-31 1918943 core:IntangibleAssetsOtherThanGoodwill 2023-12-31 1918943 core:IntangibleAssetsOtherThanGoodwill 2024-01-01 2024-12-31 1918943 core:LandBuildings core:LeasedAssetsHeldAsLessee 2023-12-31 1918943 core:PlantMachinery 2023-12-31 1918943 core:FurnitureFittings 2023-12-31 1918943 core:ComputerEquipment 2023-12-31 1918943 core:MotorVehicles 2023-12-31 1918943 2023-12-31 1918943 core:LandBuildings core:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 1918943 core:CurrentFinancialInstruments 2024-12-31 1918943 core:CurrentFinancialInstruments 2023-12-31 1918943 core:Non-currentFinancialInstruments 2024-12-31 1918943 core:Non-currentFinancialInstruments 2023-12-31 1918943 core:WithinOneYear 2024-12-31 1918943 core:WithinOneYear 2023-12-31 1918943 core:BetweenTwoFiveYears 2024-12-31 1918943 core:BetweenTwoFiveYears 2023-12-31 1918943 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 1918943 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 1918943 bus:FRS102 2024-01-01 2024-12-31 1918943 bus:Audited 2024-01-01 2024-12-31 1918943 bus:Director1 2024-01-01 2024-12-31 1918943 bus:Director2 2024-01-01 2024-12-31 1918943 bus:Director3 2024-01-01 2024-12-31 1918943 bus:Director4 2024-01-01 2024-12-31 1918943 bus:Director5 2024-01-01 2024-12-31 1918943 bus:Director6 2024-01-01 2024-12-31 1918943 bus:Director8 2024-01-01 2024-12-31 1918943 bus:FullAccounts 2024-01-01 2024-12-31 xbrli:pure xbrli:shares iso4217:GBP