Tecni-Form Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 00975813 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

TECNI-FORM LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms C L M Fecher

C L Fecher

J R G Ross

H J B Shaw

SECRETARY:

H J B Shaw

REGISTERED OFFICE:

4 English Business Park

English Close

Hove

BN3 7ET

REGISTERED NUMBER:

00975813 (England and Wales)

ACCOUNTANTS:

Lewis Brownlee (Chichester) Limited

Chartered Accountants

Appledram Barns

Birdham Road

Chichester

West Sussex

PO20 7EQ

FIXED ASSETS

Intangible assets

4

84,566

86,248

Tangible assets

5

379,211

342,708

463,777

428,956

CURRENT ASSETS

Stocks

6

485,119

518,691

Debtors

7

1,016,461

849,312

Cash at bank and in hand

31,696

42,222

1,533,276

1,410,225

CREDITORS

Amounts falling due within one year

8

1,164,156

1,125,532

NET CURRENT ASSETS

369,120

284,693

TOTAL ASSETS LESS CURRENT LIABILITIES

832,897

713,649

CREDITORS

Amounts falling due after more than one year

9

(104,167

)

(154,167

)

PROVISIONS FOR LIABILITIES

12

(71,522

)

(46,974

)

NET ASSETS

657,208

512,508

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Share premium

28,000

28,000

Revaluation reserve

8,032

9,450

Retained earnings

611,176

465,058

657,208

512,508

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 26 March 2024 and were signed on its behalf by:

C L Fecher - Director

1.	STATUTORY INFORMATION

Tecni-Form 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on reducing balance

Tangible assets are brought in at cost and some were later revalued in 2010. On transition to FRS 102 1A we elected to use this revalued amount as deemed cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial instruments are classified by the director as basic or advanced following the conditions in FRS102 section 1A. Basic financial instruments are recognised at amortised cost using effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

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.

Leasing commitments

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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs

Development of products is capitalised where there is expected to be a benefit to future periods and the following conditions are met:

(i) It is technically feasible to complete the research or development so that the product will be available for use or sale;

(ii) It is intended to use or sell the product being developed;

(iii) The company is able to use or sell the product;

(iv) It can be demonstrated that the product will generate probable future economic benefits;

(v) Adequate technical, financial and other resources exist so that product development can be completed and subsequently used or sold; and

(vi) Expenditure attributable to the research and development work can be reliably measured.

Capitalised development expenditure is stated at cost less accumulated amortisation and impairment losses and amortised over its useful economic life. Assessments of useful economic life are 4 years.

All other research and development expenditure is recognised as an expense in the period in which it is incurred.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 70 (2022 - 65 ) .

4.	INTANGIBLE FIXED ASSETS

Development

costs

£

COST

At 1 July 2022

121,463

Additions

29,327

At 30 June 2023

150,790

AMORTISATION

At 1 July 2022

35,215

Amortisation for year

31,009

At 30 June 2023

66,224

NET BOOK VALUE

At 30 June 2023

84,566

At 30 June 2022

86,248

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 July 2022

2,111,704

148,507

240,795

2,501,006

Additions

62,508

18,780

16,097

97,385

At 30 June 2023

2,174,212

167,287

256,892

2,598,391

DEPRECIATION

At 1 July 2022

1,816,700

124,587

217,011

2,158,298

Charge for year

48,802

3,781

8,299

60,882

At 30 June 2023

1,865,502

128,368

225,310

2,219,180

NET BOOK VALUE

At 30 June 2023

308,710

38,919

31,582

379,211

At 30 June 2022

295,004

23,920

23,784

342,708

6.

STOCKS

2023

2022

£

£

Stocks

485,119

518,691

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

849,749

762,291

Other debtors

166,712

87,021

1,016,461

849,312

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

50,000

50,000

Trade creditors

573,517

546,315

Amounts owed to related undertakings

13,077

13,087

Taxation and social security

181,933

216,594

Other creditors

345,629

299,536

1,164,156

1,125,532

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

104,167

154,167

10.	LEASING AGREEMENTS

At 30 June 2023, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £118,968 (2022 - £134,302).

11.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Bank loans

154,167

204,167

Other loan

172,575

143,403

326,742

347,570

Bank loans are secured by a fixed and floating charge over the company’s assets.

12.	PROVISIONS FOR LIABILITIES

2023

2022

£

£

Deferred tax

71,522

46,974

Deferred tax

£

Balance at 1 July 2022

46,974

Accelerated capital allowances

7,051

Tax losses

17,497

Balance at 30 June 2023

71,522