Company registration number 02739706 (England and Wales)
OFTEC LIMITED
(A COMPANY LIMITED BY GUARANTEE)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
OFTEC LIMITED
(A COMPANY LIMITED BY GUARANTEE)
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
OFTEC LIMITED
(A COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
4
246,044
291,683
Tangible assets
5
31,834
34,602
277,878
326,285
Current assets
Stocks
41,139
39,032
Debtors
7
309,169
275,405
Investments
8
1,000,000
-
0
Cash at bank and in hand
963,680
1,660,032
2,313,988
1,974,469
Creditors: amounts falling due within one year
9
(1,903,308)
(1,791,574)
Net current assets
410,680
182,895
Total assets less current liabilities
688,558
509,180
Creditors: amounts falling due after more than one year
10
(163,287)
(199,795)
Provisions for liabilities
(68,862)
(80,829)
Net assets
456,409
228,556
Reserves
Income and expenditure account
456,409
228,556
Total members' funds
456,409
228,556
OFTEC LIMITED
(A COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2025
31 December 2025
- 2 -

For the financial year ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 income and expenditure account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 2 June 2026 and are signed on its behalf by:
Mr P G Rose
Director
Company registration number 02739706 (England and Wales)
OFTEC LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
1
Accounting policies
Company information

OFTEC Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Unit 25, Riduna Park, Station Road, Melton, Woodbridge, IP12 1QT.

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, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Income and expenditure

Income and expenses are included in the financial statements as they become receivable or due.

Income is recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

The company has six main income streams. The recognition policy of each is as follows:

Members' Subscriptions: are invoiced annually and income is apportioned equally over 12 months.

Technician registrations: are for a period of one or five years. Income for one year registrations is apportioned equally over 12 months. Income for five year registrations is apportioned in the ratio 40:15:15:15:15.

Work notifications: are recognised when customers are invoiced at the completion of the assignment.

OFTEC Direct merchandise sales: are recognised when customers are invoiced at the point of dispatch.

Training pack sales: are recognised when customers are invoiced at the point of dispatch.

Other sales and advertising: are recognised when the customers are invoiced.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

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:

Website and database
20% - 50% straight line
OFTEC LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -
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:

Fixtures, fittings & equipment
15% straight line
Plant and machinery
25% 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 surplus or deficit.

1.5
Impairment of fixed assets

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.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price.

1.7
Cash and cash equivalents

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

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.

Investments

Listed investments are held as fixed asset investments, and are shown at their market value at the year-end, with unrealised gain or loss recognised in the profit and loss account.

Notional investment income is reinvested within the investments and reflected in the unit price. Thus, it is reported within fair value gains and losses on investments.

OFTEC LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 5 -
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 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 receipts 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
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

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.

1.10
Retirement benefits

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

1.11
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.

1.12
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
27
28
OFTEC LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 6 -
3
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
129,557
58,590
Adjustments in respect of prior periods
(83)
-
0
Total current tax
129,474
58,590
Deferred tax
Origination and reversal of timing differences
(11,967)
30,862
Total tax charge
117,507
89,452
4
Intangible fixed assets
Website and database
£
Cost
At 1 January 2025
551,069
Additions
95,616
At 31 December 2025
646,685
Amortisation and impairment
At 1 January 2025
259,386
Amortisation charged for the year
141,255
At 31 December 2025
400,641
Carrying amount
At 31 December 2025
246,044
At 31 December 2024
291,683
OFTEC LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
5
Tangible fixed assets
Fixtures, fittings & equipment
Plant and machinery
Total
£
£
£
Cost
At 1 January 2025
36,581
48,917
85,498
Additions
3,749
5,175
8,924
Disposals
(1,505)
(2,721)
(4,226)
At 31 December 2025
38,825
51,371
90,196
Depreciation and impairment
At 1 January 2025
15,026
35,870
50,896
Depreciation charged in the year
5,534
5,439
10,973
Eliminated in respect of disposals
(786)
(2,721)
(3,507)
At 31 December 2025
19,774
38,588
58,362
Carrying amount
At 31 December 2025
19,051
12,783
31,834
At 31 December 2024
21,555
13,047
34,602
6
Financial instruments
2025
2024
£
£
Carrying amount of financial assets include:
Instruments measured at fair value through surplus or deficit
1,000,000
-
7
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
169,692
148,735
Other debtors
107,404
126,670
Prepayments and accrued income
32,073
-
0
309,169
275,405
8
Current asset investments
2025
2024
£
£
Treasury deposit account
1,000,000
-
0
OFTEC LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
9
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
165,642
132,979
Corporation tax
129,556
58,590
Other taxation and social security
142,469
156,272
Other creditors
1,495
830
Accruals and deferred income
1,464,146
1,442,903
1,903,308
1,791,574
10
Creditors: amounts falling due after more than one year
2025
2024
£
£
Accruals and deferred income
163,287
199,795

Deferred income is the amount of technician registrations that has been deferred to future accounting periods, in line with the company's accounting policy.

11
Members' liability

The company is limited by guarantee, not having share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £10.

12
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
91,399
150,345
13
Parent company

The company is controlled by the Board of Directors.

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