Company registration number 03703617 (England and Wales)
TORNUM LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
TORNUM LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
TORNUM LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
167,006
213,794
Current assets
Stocks
183,300
187,515
Debtors
5
1,199,824
981,541
Cash at bank and in hand
902,567
964,548
2,285,691
2,133,604
Creditors: amounts falling due within one year
6
(512,038)
(608,265)
Net current assets
1,773,653
1,525,339
Total assets less current liabilities
1,940,659
1,739,133
Provisions for liabilities
(38,915)
(43,818)
Net assets
1,901,744
1,695,315
Capital and reserves
Called up share capital
8
8
Profit and loss reserves
1,901,736
1,695,307
Total equity
1,901,744
1,695,315

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 5 March 2026 and are signed on its behalf by:
C White
Director
Company registration number 03703617 (England and Wales)
TORNUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -
1
Accounting policies
Company information

Tornum Limited is a private company limited by shares incorporated in England and Wales. The registered office is Atley Hill Road, North Cowton, Northallerton, North Yorkshire, DL7 0JB. The company's previous name was JW Installations UK Limited from incorporation on 28 January 1999 to 5 April 2023.

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 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.

Tornum Limited is, indirectly, a wholly owned subsidiary of Tornum AB, Sweden and the results of Tornum Limited are included in the consolidated financial statements of Tornum AB.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue 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 revenue 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.

Revenue from contracts to provide goods is recognised in accordance with the company's accounting policy on construction contracts below.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life.

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 equipment
15% or 25% Straight line
Fixtures and fittings
20% Straight line
Motor vehicles
25% Straight line
TORNUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 3 -

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

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).

Recoverable amount is the higher of fair value less costs to sell and value in use.

1.6
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.

Stock is valued using the most recent purchase price method.

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.

1.7
Construction contracts

Where the outcome of a construction 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.

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.

1.8
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.

TORNUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -
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.

1.9
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.

1.10
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.

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.

1.11
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.

TORNUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 5 -
1.12
Retirement benefits

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

1.13
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.

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.

1.14
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
Employees

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

2025
2024
Number
Number
Total
18
18
3
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2025 and 31 December 2025
110,400
Amortisation and impairment
At 1 January 2025 and 31 December 2025
110,400
Carrying amount
At 31 December 2025
-
0
At 31 December 2024
-
0
TORNUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 6 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2025
815,345
Additions
57,495
Disposals
(63,968)
At 31 December 2025
808,872
Depreciation and impairment
At 1 January 2025
601,551
Depreciation charged in the year
87,127
Eliminated in respect of disposals
(46,812)
At 31 December 2025
641,866
Carrying amount
At 31 December 2025
167,006
At 31 December 2024
213,794
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
195,641
87,608
Amounts owed by group undertakings
879,647
838,242
Other debtors
124,536
55,691
1,199,824
981,541

Included within other deb tors is £31,494 (2024 - £14,038) relating to gross amounts due from contract customers.

6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
220,109
110,282
Taxation and social security
141,469
208,090
Other creditors
150,460
289,893
512,038
608,265

Included within other creditors is £108,289 (2024 - £246,412) relating to contract payments on account.

TORNUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
7
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:

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 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.

Senior Statutory Auditor:
Deborah Fletcher-McVay BSc FCA
Statutory Auditor:
Xeinadin Audit Limited
Date of audit report:
11 March 2026
8
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:

2025
2024
£
£
Total commitments
122,727
110,877
9
Parent company

The Company is a wholly owned subsidiary of Tornum AB, which prepares consolidated accounts. The registered office is Skaragatan 13 535 30, Kvänum, Västra Götaland Sweden.

2025-12-31 2025-01-01 false false false 11 March 2026 CCH Software CCH Accounts Production 2025.300 No description of principal activity J White C White M Svensson H Larm H Bjuke S Svensson 03703617 2025-01-01 2025-12-31 03703617 2025-12-31 03703617 2024-12-31 03703617 core:OtherPropertyPlantEquipment 2025-12-31 03703617 core:OtherPropertyPlantEquipment 2024-12-31 03703617 core:CurrentFinancialInstruments core:WithinOneYear 2025-12-31 03703617 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 03703617 core:WithinOneYear 2025-12-31 03703617 core:WithinOneYear 2024-12-31 03703617 core:CurrentFinancialInstruments 2025-12-31 03703617 core:CurrentFinancialInstruments 2024-12-31 03703617 core:ShareCapital 2025-12-31 03703617 core:ShareCapital 2024-12-31 03703617 core:RetainedEarningsAccumulatedLosses 2025-12-31 03703617 core:RetainedEarningsAccumulatedLosses 2024-12-31 03703617 bus:Director2 2025-01-01 2025-12-31 03703617 core:Goodwill 2025-01-01 2025-12-31 03703617 core:PlantMachinery 2025-01-01 2025-12-31 03703617 core:FurnitureFittings 2025-01-01 2025-12-31 03703617 core:MotorVehicles 2025-01-01 2025-12-31 03703617 2024-01-01 2024-12-31 03703617 core:NetGoodwill 2024-12-31 03703617 core:NetGoodwill 2025-12-31 03703617 core:NetGoodwill 2024-12-31 03703617 core:OtherPropertyPlantEquipment 2024-12-31 03703617 core:OtherPropertyPlantEquipment 2025-01-01 2025-12-31 03703617 bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 03703617 bus:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 03703617 bus:FRS102 2025-01-01 2025-12-31 03703617 bus:Audited 2025-01-01 2025-12-31 03703617 bus:Director1 2025-01-01 2025-12-31 03703617 bus:Director3 2025-01-01 2025-12-31 03703617 bus:Director4 2025-01-01 2025-12-31 03703617 bus:Director5 2025-01-01 2025-12-31 03703617 bus:Director6 2025-01-01 2025-12-31 03703617 bus:FullAccounts 2025-01-01 2025-12-31 xbrli:pure xbrli:shares iso4217:GBP