Test Products International Europe Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 04255058 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

TEST PRODUCTS INTERNATIONAL EUROPE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P Philpott

S Aleskus

J McKenzie

Y D Lee

T Smith

REGISTERED OFFICE:

3rd Floor

21 Perrymount Road

Haywards Heath

West Sussex

RH16 3TP

REGISTERED NUMBER:

04255058 (England and Wales)

AUDITORS:

Galloways Accounting

Statutory Auditors

15 West Street

Brighton

East Sussex

BN1 2RL

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

35,378

37,464

35,378

37,464

CURRENT ASSETS

Stocks

6

358,808

330,514

Debtors

7

308,989

596,261

Cash at bank and in hand

292,981

469,576

960,778

1,396,351

CREDITORS

Amounts falling due within one year

8

386,839

1,064,678

NET CURRENT ASSETS

573,939

331,673

TOTAL ASSETS LESS CURRENT LIABILITIES

609,317

369,137

CREDITORS

Amounts falling due after more than one year

9

(9,827

)

(13,101

)

PROVISIONS FOR LIABILITIES

-

(10,250

)

NET ASSETS

599,490

345,786

CAPITAL AND RESERVES

Called up share capital

11

34,483

Retained earnings

565,007

311,303

SHAREHOLDERS' FUNDS

599,490

345,786

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 April 2026 and were signed on its behalf by:

P Philpott - Director

1.	STATUTORY INFORMATION

Test Products International Europe Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£) and have been rounded to the nearest pound.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence. In addition, the company has received assurance from the ultimate parent company that it will provide financial support to the company for at least twelve months from the date of signing these financial statements. On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be measured reliably. Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

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

Rendering of services

Turnover relating to the repair and servicing of goods is recongnised in line with the completion of the performance obligation.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, was being amortised evenly over its estimated useful life of five years. It was fully amortised in June 2019.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Short leasehold

-

20% on cost

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to

complete and sell.

At each balance sheet date, stocks are assessed for impairment, If stock is impaired, the carrying amount is

reduced to its selling price less costs to complete and sell. The impairment is recognised immediately in the

profit and loss.

Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Transactions in currencies, other than the functional currency of the company , are recorded at the rate of exchange on the date of the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

Hire purchase and leasing commitments

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

Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2024 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2025

and 31 December 2025

94,431

AMORTISATION

At 1 January 2025

and 31 December 2025

94,431

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

Computer

leasehold

machinery

fittings

equipment

Totals

£

COST

At 1 January 2025

6,747

4,502

1,975

84,339

97,563

Additions

6,211

3,876

-

6,276

16,363

Disposals

-

(15,186

)

(15,186

)

At 31 December 2025

12,958

8,378

1,975

75,429

98,740

DEPRECIATION

At 1 January 2025

4,066

2,304

1,738

51,991

60,099

Charge for year

2,104

985

237

15,123

18,449

Eliminated on disposal

-

(15,186

)

(15,186

)

At 31 December 2025

6,170

3,289

1,975

51,928

63,362

NET BOOK VALUE

At 31 December 2025

6,788

5,089

-

23,501

35,378

At 31 December 2024

2,681

2,198

237

32,348

37,464

6.

STOCKS

2025

2024

£

Finished goods

358,808

330,514

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

173,737

398,756

Other debtors

135,252

197,505

308,989

596,261

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Finance leases (see note 10)

3,274

3,125

Trade creditors

11,234

20,281

Amounts owed to group undertakings

231,238

870,708

Taxation and social security

88,585

111,791

Other creditors

52,508

58,773

386,839

1,064,678

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

Finance leases (see note 10)

9,827

13,101

10.	LEASING AGREEMENTS

Minimum lease payments under finance leases fall due as follows:

Finance leases

2025

2024

£

Net obligations repayable:

Within one year

3,274

3,125

Between one and five years

9,827

13,101

16,226

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

34,483

Ordinary

1

34,483

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Christian Heeger BSc BFP FCA (Senior Statutory Auditor)

for and on behalf of Galloways Accounting

13.	OFF-BALANCE SHEET ARRANGEMENTS

At the year end, the company had non-cancellable operating lease commitments amounting to £203,799 (2024: £143,135). Of these amounts £123,756 (2024: £74,902) were payable more than 1 year from the year end. No non-cancellable operating lease commitments are payable more than 5 years from the year end.

At the year end, the company had non-cancellable finance lease commitments amounting to £13,101 (2024: £18,185) relating to leased computer equipment. Of these amounts £9,827 (2024: £14,357) were payable more than 1 year from the year end. No non-cancellable finance lease commitments are payable more than 5 years from the year end.

14.	ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent undertaking is Test Products International Inc, a company registered in the United States of America. The smallest and largest group consolidating the results of the company is Test Products International Inc. The registered office address of the parent undertaking is 9615 SW Allen Boulevard Suite 105, Beaverton, Oregon 97005 USA.