Tension Technology International Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 02018267 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

FOR

TENSION TECHNOLOGY INTERNATIONAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S J Banfield

Professor R E Hobbs

Dr A T Ractliffe

M A Delaney

N O'Hear

J F Flory

K Black

Mrs D Banfield

SECRETARY:

Mrs D Banfield

REGISTERED OFFICE:

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

REGISTERED NUMBER:

02018267 (England and Wales)

ACCOUNTANTS:

Watson Associates (Professional Services) Limited

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

FIXED ASSETS

Tangible assets

4

4,703

6,785

Investments

5

17,650

17,650

Investment property

6

1,350,000

1,350,000

1,372,353

1,374,435

CURRENT ASSETS

Debtors

7

663,629

569,142

Cash at bank

2,370,837

1,816,926

3,034,466

2,386,068

CREDITORS

Amounts falling due within one year

8

(539,772

)

(256,217

)

NET CURRENT ASSETS

2,494,694

2,129,851

TOTAL ASSETS LESS CURRENT LIABILITIES

3,867,047

3,504,286

CAPITAL AND RESERVES

Called up share capital

7,207

7,691

Share premium

97,745

97,745

Revaluation reserve

9

685,697

685,697

Capital redemption reserve

1,777

1,293

Other reserves

3,883

3,883

Retained earnings

3,070,738

2,707,977

SHAREHOLDERS' FUNDS

3,867,047

3,504,286

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 28 July 2023 and were signed on its behalf by:

S J Banfield - Director

1.	STATUTORY INFORMATION

Tension Technology International Limited 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.

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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery etc

-

50% on reducing balance and 25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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 2 (2022 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 May 2022

and 30 April 2023

41,393

29,074

101,100

171,567

DEPRECIATION

At 1 May 2022

40,898

22,784

101,100

164,782

Charge for year

495

1,587

-

2,082

At 30 April 2023

41,393

24,371

101,100

166,864

NET BOOK VALUE

At 30 April 2023

-

4,703

-

4,703

At 30 April 2022

495

6,290

-

6,785

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 May 2022

and 30 April 2023

17,650

NET BOOK VALUE

At 30 April 2023

17,650

At 30 April 2022

17,650

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2022

and 30 April 2023

1,350,000

NET BOOK VALUE

At 30 April 2023

1,350,000

At 30 April 2022

1,350,000

Fair value at 30 April 2023 is represented by:

£

Valuation in 2020

285,906

Valuation in 2021

79,601

Valuation in 2022

320,190

Cost

664,303

1,350,000

If investment property had not been revalued it would have been included at the following historical cost:

2023

2022

£

£

Cost

634,493

634,493

Investment property was valued on an open market basis on 30 April 2022 by the directors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

590,118

316,541

Amounts owed by group undertakings

-

190,127

Other debtors

73,511

62,474

663,629

569,142

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

422,206

253,369

Taxation and social security

108,490

(952

)

Other creditors

9,076

3,800

539,772

256,217

9.

RESERVES

Revaluation

reserve

£

At 1 May 2022

and 30 April 2023

685,697