ACCOUNTS - Final Accounts

Creditors: Amounts falling due within one year

Unaudited
As restated

Registered number: 01276951

TECNON ORBICHEM LTD

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

TECNON ORBICHEM LTD

Company Information

Directors	P J Stewart
	M Stone
	R D Tabors
	J L Welu (resigned 1 May 2025)
	J T Loftin (appointed 9 February 2024, resigned 1 September 2025)


Company secretary	Oakwood Corporate Secretary Limited


Registered number	01276951


Registered office	3rd Floor
	1 Ashley Road
	Altrincham
	Cheshire
	WA14 2DT

TECNON ORBICHEM LTD

Registered number: 01276951

Balance sheet

As at 31 December 2024

		Unaudited As restated
	2024	2023
Note	£	£

Fixed assets
Intangible assets	4		41,456		66,328
Tangible assets	5		2,290		9,471
			43,746		75,799
Current assets
Debtors: amounts falling due within one year	7	3,387,429		3,221,626
Cash at bank and in hand	8	118,976		179,283
		3,506,405		3,400,909
Creditors: amounts falling due within one year	9	(1,786,292)		(2,141,596)
Net current assets			1,720,113		1,259,313
Total assets less current liabilities			1,763,859		1,335,112

Net assets			1,763,859		1,335,112

Capital and reserves
Called up share capital	10	1,000	1,000
Profit and loss account		1,762,859	1,334,112
		1,763,859	1,335,112

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TECNON ORBICHEM LTD

Registered number: 01276951

Balance sheet (continued)

As at 31 December 2024

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 on 15 July 2026.

P J Stewart

Director

The notes on pages 3 to 11 form part of these financial statements.

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TECNON ORBICHEM LTD

Notes to the financial statements

For the Year Ended 31 December 2024

1.	General information

Tecnon Orbichem Ltd is a private limited company limited by shares, registered in England and Wales. The company's registered office is 3rd Floor, 1 Ashley Road. Altrincham, Cheshire, WA14 2DT.

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 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.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

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TECNON ORBICHEM LTD

Notes to the financial statements

For the Year Ended 31 December 2024

2.Accounting policies (continued)

2.4

Revenue

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

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of turnover can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life.

Amortisation is provided on the following bases:

Computer software

20%

straight line

2.7

Tangible fixed assets

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.

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TECNON ORBICHEM LTD

Notes to the financial statements

For the Year Ended 31 December 2024

2.Accounting policies (continued)

2.7

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Fixtures & fittings	-	10%	on cost
				Computer equipment	-	20%	on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment.

2.10

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.

2.11

Creditors

Short-term creditors are measured at the transaction price.

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TECNON ORBICHEM LTD

Notes to the financial statements

For the Year Ended 31 December 2024

2.Accounting policies (continued)

2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic 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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Employees

The average monthly number of employees, including directors, during the year was 14 (2023 - 11).

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TECNON ORBICHEM LTD

Notes to the financial statements

For the Year Ended 31 December 2024

4.	Intangible assets

		Computer software
		£
	Cost
	At 1 January 2024 (as previously stated)	262,052
	Prior Year Adjustment	(137,689)
	At 1 January 2024 (as restated)	124,363
	At 31 December 2024	124,363
	Amortisation
	At 1 January 2024 (as previously stated)	176,058
	Prior Year Adjustment	(118,023)
	At 1 January 2024 (as restated)	58,035
	Charge for the year on owned assets	24,872
	At 31 December 2024	82,907
	Net book value
	At 31 December 2024	41,456
	At 31 December 2023 (as restated)	66,328

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TECNON ORBICHEM LTD

Notes to the financial statements

For the Year Ended 31 December 2024

5.	Tangible fixed assets

		Other fixed assets
		£
	Cost or valuation
	At 1 January 2024	56,906
	At 31 December 2024	56,906
	Depreciation
	At 1 January 2024	47,435
	Charge for the year on owned assets	7,181
	At 31 December 2024	54,616
	Net book value
	At 31 December 2024	2,290
	At 31 December 2023	9,471

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TECNON ORBICHEM LTD

Notes to the financial statements

For the Year Ended 31 December 2024

6.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	Prior Year Adjustment	77,295
	At 1 January 2024 (as restated)	77,295
	At 31 December 2024	77,295
	Impairment
	Prior Year Adjustment	77,295
	At 1 January 2024 (as restated)	77,295
	At 31 December 2024	77,295
	Net book value
	At 31 December 2024	-
	At 31 December 2023 (as restated)	-

Debtors

						Unaudited As restated
					2024	2023
					£	£


Trade debtors	717,167	334,136
Amounts owed by group undertakings	2,634,647	2,864,222
Other debtors	-	1,740
Prepayments and accrued income	35,615	21,528
	3,387,429	3,221,626

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TECNON ORBICHEM LTD

Notes to the financial statements

For the Year Ended 31 December 2024

8.	Cash and cash equivalents
		2024	2023
		£	£

Cash at bank and in hand	118,976	179,283
	118,976	179,283

Trade creditors	88,441	86,758
Amounts owed to group undertakings	71,495	587,932
Other taxation and social security	22,421	31,003
Accruals and deferred income	1,603,935	1,435,903
	1,786,292	2,141,596

10.	Share capital
		2024	Unaudited 2023
		£	£

Allotted, called up and fully paid

1,000 (2023 - 1,000) Ordinary shares of £1.00 each	1,000	1,000

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TECNON ORBICHEM LTD

Notes to the financial statements

For the Year Ended 31 December 2024

11.	Prior year adjustment

The following adjustments have been made in the comparative period for the year ended 31 December 2023:
Intangible assets of £262,052 and amortisation of £176,058 were incorrectly recognised in these financial statements. This has resulted in £19,667 net book value of intangible assets being removed and a decrease in the profit for the year of £19,667.
Intercompany balances were reconciled and agreed, resulting in the reclassification of a balance to investments and impairment thereon, differences in foreign exchange being recognised and balances which had previously been offset separated out. As a result, the net impact on investments was £nil, intercompany debtors decreased by £1,256,561, intercompany creditors increased by £752,166 and profit increased by £2,014,255.
A debtor balance was provided as it was not recoverable, resulting in a decrease in other debtors of £5,528 and a decrease in profit and loss of the same.
The effect of the above transactions is to increase net assets by £1,989,061 at 31 December 2023.

12.Other financial commitments

The company has provided a fixed and floating charge, including a negative pledge, in respect of financing within the wider group.

13.	Related party transactions
	The company has adopted the exemption permitted by paragraph 33.1A of FRS102 and has not disclosed transactions with other group members, where the group members are wholly owned.

14.	Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 15 July 2026 by Hannah Clegg (Senior statutory auditor) on behalf of Sayers Butterworth LLP.

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