TECKER LIMITED
COMPANY INFORMATION
Directors
IC Webber
DM Olver
AR Webber
SD Webber
Company number
02319906
Registered office
Kernow House
Tregoniggie Industrial Estate
FALMOUTH
Cornwall
TR11 4SN
Auditor
RRL LLP
Peat House
Newham Road
TRURO
Cornwall
TR1 2DP
Business address
Kernow House
Tregoniggie Industrial Estate
FALMOUTH
Cornwall
TR11 4SN
TECKER LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3
Directors' responsibilities statement
4
Independent auditor's report
5 - 8
Statement of comprehensive income
9
Balance sheet
10
Statement of changes in equity
11
Statement of cash flows
12
Notes to the financial statements
13 - 24
TECKER LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MAY 2025

The directors present the strategic report for the year ended 31 May 2025.

Principal activities

Provision of design, manufacture and project management of mechanical, electrical, instrumentation, control and automation engineering services for solid and fluid handling projects including installation and maintenance.

Review of the business

The Directors are pleased with the performance of the Company in this period of trading, taking the opportunities to deliver planned margins across all business lines of the company and to continue building a platform supporting further sustainable growth.

The implementation of business plans by the Directors continue to underpin current and future performance that forms the basis for sustainable growth within the regulated water utility markets of the UK. All aspects of the Company's positioning in regulated markets within it operates remain strong for the foreseeable future.

The Company continues to successfully build its service and product offerings through long term framework and preferred supplier agreements and being successful on project-by-project work, with a major presence in the South West of England. The company shall continue to develop services and products to deliver its customers' long and short-term needs in meeting operational and regulatory challenges.

The Directors are pleased to report excellent customer and employee focus and performance and the continued development of market leading management systems and behaviours supporting compliance and high performance in health & safety, quality and environmental management. The Company continues to be third party certified for health & safety, well-being, environment, social and governance and quality, meeting industry leading standards.

The Company places high value on its supply chain and supports and develops suppliers to perform to meet the demands and expectations of the company's customers.

The Directors consider the value of outstanding orders and order pipeline as being key performance indicators for the business. At the balance sheet date, both key indicators remain at a satisfactory level.

The Directors' outlook for the business is positive. Tecker Limited is well positioned in its market with its product and service offerings, its focus on customer service and is competitively structured to achieve its business growth objectives.

Principal risks and uncertainties

The Company forecasts and monitors its cash flow carefully, to ensure that it minimises the risk to its cash position.

In addition, the Company is subject to credit risk. The Company seeks to minimise risk by carrying out regular credit checks on its customers and by identifying and addressing any credit issues in a timely manner.

Key performance indicators

The Company is managed by reference to both financial and customer orientated key performance indicators which include, but are not limited to, order intake, turnover, gross margin, overheads, debtor days, creditor days, safety, environment and customer satisfaction. The Director's set challenging targets for business KPIs driving continuous improvement in all aspects of business performance.

The key performance indicators are as follows:

2025 2024

Turnover £13,106,794 £15,370,360

Gross Profit Margin 18.77% 15.77%

Operating Profit Margin 9.79% 9.31%

Pre Tax Profit £1,283,333 £1,431,336

- 1 -
TECKER LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
Other information and explanations

Going concern

The Directors believe there are no material uncertainties that call into doubt the Company's ability to continue as a going concern and the accounts have therefore been prepared on the basis that the Company is a going concern. The Directors have reviewed the company's operational resilience and finances, within the context of current and expected market conditions and wider economic conditions and believe them to be adequate. In the short-term cash holdings are sufficient to ensure adequate cashflow for the foreseeable future. In the medium to long term, plans are in place and continue to be reviewed regularly.

On behalf of the board

IC Webber
Director
13 February 2026
- 2 -
TECKER LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MAY 2025

The directors present their annual report and financial statements for the year ended 31 May 2025.

Results and dividends

The results for the year are set out on page 9.

Ordinary dividends were paid amounting to £770,000. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

IC Webber
DM Olver
AR Webber
SD Webber
AG Lawrance
(Deceased 12 March 2025)
Financial instruments
Liquidity risk

The company manages its cash and borrowing requirements in order to maximise interest income and minimise interest expense, whilst ensuring the company has sufficient liquid resources to meet the operating needs of the business.

Credit risk

Investments of cash surpluses, borrowings and derivative instruments are made through banks and companies which must fulfil credit rating criteria approved by the Board.

All customers who wish to trade on credit terms are subject to credit verification procedures. Trade debtors are monitored on an ongoing basis and provision is made for doubtful debts where necessary.

Future developments

The management continue to look for opportunities to develop services that complement the existing ranges and build on the longer-term maintenance services opportunities arising in the market.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
IC Webber
Director
13 February 2026
- 3 -
TECKER LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MAY 2025

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

- 4 -
TECKER LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF TECKER LIMITED
Opinion

We have audited the financial statements of Tecker Limited (the 'company') for the year ended 31 May 2025 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 May 2025 and of its profit 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.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

- 5 -
TECKER LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF TECKER LIMITED (CONTINUED)
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report and the directors' r eport. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit; or

- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the directors' report.

Responsibilities of directors
- 6 -

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

As part of our audit work, we obtained an understanding of the legal and regulatory frameworks applicable to the company and the sector in which they operate. We determined that the laws and regulations most significant to the company, as well as the laws and regulations that have a direct impact on the preparation of the financial statements are: the Companies Act 2006.

The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

TECKER LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF TECKER LIMITED (CONTINUED)

- Obtain an understanding of the legal and regulatory frameworks applicable to the company and the sector in which it operates. We determined that the following laws and regulations were most significant: the Companies Act 2006, health and safety, water supply quality regulations.

- Review of the disclosures in the financial statements and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

- Enquiries of management concerning actual and potential litigation and claims;

- Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

- Reviewing minutes of meetings and correspondence with regulators;

- Performing audit work in connection with the risk of management override of controls, including testing journal entries for reasonableness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for potential bias.

We also communicate relevant identified laws and regulations and potential fraud risk to all engagement team members and remain alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Our audit approach also considered the opportunities and incentives that may exist within the company for fraud and identified the greatest potential for fraud being in respect of cut off and completion risk around revenue recognition. Under ISA (UK) we are also required to undertake procedures to respond to the risk of management override of controls. Our procedures included the following:

- Undertaking transactional testing on revenue

- Performing cut off testing on income

- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale for significant transactions outside the normal course of business

- Reviewing estimates and judgements made in the accounts for any indication of bias and challenged assumptions used by management in making estimates.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Other matters which we are required to address

The financial statements for the year ended 31 May 2024, forming the corresponding figures of the financial statements for the year ended 31 May 2025, are unaudited as the directors' claimed exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

- 7 -
TECKER LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF TECKER LIMITED (CONTINUED)
Nicholas Skerratt FCA CTA (Senior Statutory Auditor)
For and on behalf of RRL LLP, Statutory Auditor
Chartered Accountants
Peat House
Newham Road
TRURO
Cornwall
TR1 2DP
13 February 2026
- 8 -
TECKER LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MAY 2025
2025
2024
Notes
£
£
Turnover
3
13,106,794
15,370,360
Cost of sales
(10,646,616)
(12,946,064)
Gross profit
2,460,178
2,424,296
Administrative expenses
(1,203,230)
(1,002,048)
Other operating income
3,701
500
Operating profit
4
1,260,649
1,422,748
Interest receivable and similar income
7
22,684
8,601
Interest payable and similar expenses
8
-
0
(13)
Profit before taxation
1,283,333
1,431,336
Tax on profit
9
(328,376)
(357,853)
Profit for the financial year
954,957
1,073,483

The profit and loss account has been prepared on the basis that all operations are continuing operations.

- 9 -
TECKER LIMITED
BALANCE SHEET
AS AT
31 MAY 2025
31 May 2025
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
11
365,067
358,039
Current assets
Debtors
12
2,273,442
3,947,433
Cash at bank and in hand
1,416,961
1,951,088
3,690,403
5,898,521
Creditors: amounts falling due within one year
13
(3,111,968)
(5,499,915)
Net current assets
578,435
398,606
Total assets less current liabilities
943,502
756,645
Provisions for liabilities
Deferred tax liability
14
89,100
87,200
(89,100)
(87,200)
Net assets
854,402
669,445
Capital and reserves
Called up share capital
16
100,000
100,000
Profit and loss reserves
754,402
569,445
Total equity
854,402
669,445

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 13 February 2026 and are signed on its behalf by:
IC Webber
Director
Company registration number 02319906 (England and Wales)
- 10 -
TECKER LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2025
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 June 2023
100,000
775,962
875,962
Year ended 31 May 2024:
Profit and total comprehensive income
-
1,073,483
1,073,483
Dividends
10
-
(1,280,000)
(1,280,000)
Balance at 31 May 2024
100,000
569,445
669,445
Year ended 31 May 2025:
Profit and total comprehensive income
-
954,957
954,957
Dividends
10
-
(770,000)
(770,000)
Balance at 31 May 2025
100,000
754,402
854,402
- 11 -
TECKER LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MAY 2025
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
19
652,000
1,697,844
Interest paid
-
0
(13)
Income taxes paid
(322,053)
(94,162)
Net cash inflow from operating activities
329,947
1,603,669
Investing activities
Purchase of tangible fixed assets
(120,908)
(259,251)
Proceeds from disposal of tangible fixed assets
4,150
667
Interest received
22,684
8,601
Net cash used in investing activities
(94,074)
(249,983)
Financing activities
Dividends paid
(770,000)
(1,280,000)
Net cash used in financing activities
(770,000)
(1,280,000)
Net (decrease)/increase in cash and cash equivalents
(534,127)
73,686
Cash and cash equivalents at beginning of year
1,951,088
1,877,402
Cash and cash equivalents at end of year
1,416,961
1,951,088
- 12 -
TECKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
Company information

Tecker Limited is a private company limited by shares incorporated in England and Wales. The registered office is Kernow House, Tregoniggie Industrial Estate, FALMOUTH, Cornwall, TR11 4SN.

1.1
Basis of preparation

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.

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 and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover
- 13 -

Revenue 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.

The company recognises revenue from the following major sources:

- Sale of services

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Sale of services

Revenue 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, revenue is recognised only to the extent of the expenses recognised that are recover able.

Where the outcome of a contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

Where the outcome of a contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

TECKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)

The “percentage of completion method” is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered. Bank interest accruing on capital borrowed to fund the production of long term contracts is carried forward within long term contract balances.

1.4
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:

Plant and machinery
15% reducing balance
Motor vehicles
25% reducing balance

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.

1.5
Impairment of fixed assets
- 14 -

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). 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.

1.6
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.

TECKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
1.7
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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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.

- 15 -
TECKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
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.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.8
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.

1.9
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.

- 16 -
TECKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
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.

1.10
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.

1.11
Retirement benefits

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

1.12
Leases
As lessee

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.

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.

- 17 -
TECKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
2
Judgements and key sources of estimation uncertainty
(Continued)
Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Work in progress

The key area of estimation uncertainty as assessed by management is the valuation of work in progress

where there has been no formal valuation at the year end and values are based on management’s detailed

calculations and estimate.

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Sales
13,106,794
15,370,360
2025
2024
£
£
Turnover analysed by geographical market
UK
13,106,794
15,370,360
2025
2024
£
£
Other revenue
Interest income
22,684
8,601
4
Operating profit
2025
2024
Operating profit for the year is stated after charging:
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
19,450
-
0
Depreciation of tangible fixed assets
108,071
105,631
Loss on disposal of tangible fixed assets
1,659
527
Operating lease charges
534,855
534,210
- 18 -
TECKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
5
Employees

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

2025
2024
Number
Number
Engineering
77
83
Administrative and management
10
5
Design
8
-
Total
95
88

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
3,709,559
3,345,756
Social security costs
385,154
332,303
Pension costs
96,502
96,601
4,191,215
3,774,660
6
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
248,926
224,077
Company pension contributions to defined contribution schemes
18,658
17,995
267,584
242,072

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 3 (2024 - 3).

Remuneration disclosed above include the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
116,700
115,431
Company pension contributions to defined contribution schemes
17,047
16,214
- 19 -
TECKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
7
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
22,554
8,567
Other interest income
130
34
Total income
22,684
8,601
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
22,554
8,567
8
Interest payable and similar expenses
2025
2024
£
£
Other finance costs:
Other interest
-
0
13
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
326,476
322,053
Deferred tax
Origination and reversal of timing differences
1,900
35,800
Total tax charge
328,376
357,853

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
1,283,333
1,431,336
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
320,833
357,834
Tax effect of expenses that are not deductible in determining taxable profit
7,933
527
Permanent capital allowances in excess of depreciation
(390)
(508)
Taxation charge for the year
328,376
357,853
- 20 -
TECKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
10
Dividends
2025
2024
£
£
Final paid
770,000
1,280,000
11
Tangible fixed assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 June 2024
548,511
564,278
1,112,789
Additions
14,695
106,213
120,908
Disposals
-
0
(33,040)
(33,040)
At 31 May 2025
563,206
637,451
1,200,657
Depreciation and impairment
At 1 June 2024
461,091
293,659
754,750
Depreciation charged in the year
15,315
92,756
108,071
Eliminated in respect of disposals
-
0
(27,231)
(27,231)
At 31 May 2025
476,406
359,184
835,590
Carrying amount
At 31 May 2025
86,800
278,267
365,067
At 31 May 2024
87,420
270,619
358,039
12
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
2,151,692
3,838,769
Prepayments and accrued income
121,750
108,664
2,273,442
3,947,433
- 21 -
TECKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
13
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
1,091,036
1,035,668
Corporation tax
326,476
322,053
Other taxation and social security
684,591
594,859
Other creditors
388,681
486,683
Accruals and deferred income
621,184
3,060,652
3,111,968
5,499,915

14
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
91,300
89,525
Retirement benefit obligations
(2,200)
(2,325)
89,100
87,200
2025
Movements in the year:
£
Liability at 1 June 2024
87,200
Charge to profit or loss
1,900
Liability at 31 May 2025
89,100

The deferred tax liability set out above is expected to reduce to £75,400 within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.

- 22 -
TECKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
15
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
96,502
96,601

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

Included in other creditors is £8,830 (2024: £9,300) owed to defined contribution pension schemes.

16
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100,000
100,000
100,000
100,000

The company has one class of ordinary shares which carry no right to fixed income.

17
Directors' transactions

Dividends totalling £770,000 (2024 - £1,280,000) were paid in the year in respect of shares held by the company's directors.

The company operates from premises owned by IC Webber and Mrs AR Webber, directors. Rent paid for the year amounted to £111,726 (2024: £75,000).

18
Ultimate controlling party

The ultimate controlling party is IC Webber and AR Webber, directors.

19
Cash generated from operations
2025
2024
£
£
Profit after taxation
954,957
1,073,483
Adjustments for:
Taxation charged
328,376
357,853
Finance costs
-
0
13
Investment income
(22,684)
(8,601)
Loss on disposal of tangible fixed assets
1,659
527
Depreciation and impairment of tangible fixed assets
108,071
105,631
Movements in working capital:
Decrease/(increase) in debtors
1,673,991
(2,079,700)
(Decrease)/increase in creditors
(2,392,370)
2,248,638
Cash generated from operations
652,000
1,697,844
- 23 -
TECKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
20
Analysis of changes in net funds
1 June 2024
Cash flows
31 May 2025
£
£
£
Cash at bank and in hand
1,951,088
(534,127)
1,416,961
21
Auditor's liability limitation agreement

For the year ended 31 May 2025 the company entered into a liability limitation agreement with its auditors, the principal terms of which limit the liability of the auditors to £5,000,000 to relation to their responsibilities as auditors of the company. The date this was agreed by the company was 8 October 2025.

- 24 -
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