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Registered number: 04937132 TERINEX LIMITED AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
TERINEX LIMITED REGISTERED NUMBER: 04937132 BALANCE SHEET AS AT 31 MAY 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 4 | 496 |  | 137,150 |
Cash at bank and in hand | 5 | - |  | 961 |
|  | 496 |  | 138,111 |
Creditors: amounts falling due within one year | 6 | (4,500) |  | (4,359) |
Net current (liabilities)/assets |  |  | (4,004) |  | 133,752
Total assets less current liabilities |  |  | (4,004) |  | 133,752
Net (liabilities)/assets |  |  | (4,004) |  | 133,752
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 100 |  | 100
Profit and loss account |  |  | (4,104) |  | 133,652
|  |  | (4,004) |  | 133,752
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................ Mr P Wightman
Director
Date: 30 January 2026
The notes on pages 2 to 5 form part of these financial statements. Page 1
TERINEX LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
1. | General information
Terinex Limited is a private company limited by share capital, incorporated in England and Wales, registration number 04937132. The company ceased trading in December 2020 and vacated is trading premises with all remaining business now conducted from its registered office. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. 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.
| 2.2 | Going concern
The company disposed of it's trade and assets in December 2020. Following the completion of the deals the company ceased trading and it is the director's intention to close the company in the future. As a result of this, the accounts have been prepared on a basis other than that of the going concern basis as set out in note 2.1.
| 2.3 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.4 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
| 2.5 | Exceptional items
Exceptional items are transactions that fall within the ordinary activities of the company but are presented separately due to their size or incidence.
| 2.6 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. Page 2
TERINEX LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025 2.Accounting policies (continued)
| 2.7 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.8 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3. | Employees
| Staff costs were as follows:
| The average monthly number of employees, including directors, during the year was 2 (2024 - 2).
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TERINEX LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
4. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts owed by group undertakings | 496 | 137,150
|  | 496 | 137,150
5. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | - | 961
|  | - | 961
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other taxation and social security | - | 33
| Accruals and deferred income | 4,500 | 4,326
|  | 4,500 | 4,359
7. | Discontinued Operations
The company disposed of its trade and trading assets in December 2020. All profit and loss transactions are in respect of discontinued operations following cessation of trade in the financial year ended 31 May 2021, and routine compliance costs as a result of the company remaining open.
8. | Related party transactions
| The company has taken advantage of the exemption under FRS102 section 33 paragraph 1a and therefore has not reported the related party transactions or balances of companies within the group.
Page 4
TERINEX LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
9. | Ultimate parent undertaking
The ultimate parent undertaking was Owen Greenings & Mumford (Holdings) Limited, with registered office Unit 1 Mead Road, Oxford Industrial Park, Yarnton, Oxford, OX5 1QU, and company number 06259950. Following a group reconstruction completed on 28 February 2025, the ultimate parent undertaking changed to ClearSky Group Holdings Limited, with registered office Unit 1 Mead Road, Oxford Industrial Park, Yarnton, Oxford, OX5 1QU, and company number 1618880.
10. | Auditors' information
The auditors' report on the financial statements for the year ended 31 May 2025 was unqualified. The audit report was signed on 30 January 2026 by Mr Matthew Wyatt (Senior Statutory Auditor) on behalf of Wellers.
Page 5