Tecto Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 07923637 (England and Wales)

Audited Financial Statements for the Year Ended 31 December 2021

for

Tecto Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

255,607

1,001

CURRENT ASSETS

Stocks

268,554

-

Debtors

5

718,166

166,974

Cash at bank

39,119

78,766

1,025,839

245,740

CREDITORS

Amounts falling due within one year

6

(1,069,833

)

(48,704

)

NET CURRENT (LIABILITIES)/ASSETS

(43,994

)

197,036

TOTAL ASSETS LESS CURRENT LIABILITIES

211,613

198,037

CREDITORS

Amounts falling due after more than one year

7

(8,708

)

-

PROVISIONS FOR LIABILITIES

(33,951

)

(190

)

NET ASSETS

168,954

197,847

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

168,951

197,844

SHAREHOLDERS' FUNDS

168,954

197,847

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 December 2022 and were signed on its behalf by:

Mr M Calder - Director

1.	STATUTORY INFORMATION

Tecto Ltd is a private company, limited by shares, domiciled in England, registration number 07923637. The registered office is 37 Tenter Road, Moulton Park Industrial Estate, Northampton NN3 6AX.

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.

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 members of the group.

Turnover

Turnover represents net invoiced sales of goods and services in respect of health and safety, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

50% on cost, 25% on cost and 25% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2020 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2021

4,310

Additions

362,782

Disposals

(9,855

)

At 31 December 2021

357,237

DEPRECIATION

At 1 January 2021

3,309

Charge for year

99,862

Eliminated on disposal

(1,541

)

At 31 December 2021

101,630

NET BOOK VALUE

At 31 December 2021

255,607

At 31 December 2020

1,001

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

Additions

14,250

At 31 December 2021

14,250

DEPRECIATION

Charge for year

1,564

At 31 December 2021

1,564

NET BOOK VALUE

At 31 December 2021

12,686

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade debtors

638,727

10,266

Amounts owed by group undertakings

47,352

-

Amounts owed by related parties

-

156,705

Other debtors

32,087

3

718,166

166,974

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Hire purchase contracts

4,750

-

Trade creditors

442,381

1,061

Amounts owed to group undertakings

511,974

-

Taxation and social security

22,839

44,985

Other creditors

87,889

2,658

1,069,833

48,704

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.21

31.12.20

£

£

Hire purchase contracts

8,708

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.21

31.12.20

£

£

Hire purchase contracts

13,458

-

Hire purchase contracts are secured on the assets to which they relate.

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

The Report of the Auditors was unqualified.

Greig Brown (Senior Statutory Auditor)

for and on behalf of Drummond Laurie CA

10.	ULTIMATE PARENT ENTITY

BACA Holdings Ltd is registered in England under registration number 07035110. The registered office is Unit 3 Clayfield Close, Moulton Park, Northampton, NN3 6QN.