Tectonic International Limited - Accounts to registrar (filleted) - small 23.2.5
Tectonic International Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| TECTONIC INTERNATIONAL LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 JANUARY 2022 TO 30 JUNE 2023 |
| TECTONIC INTERNATIONAL LIMITED (REGISTERED NUMBER: 03696680) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 JANUARY 2022 TO 30 JUNE 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| TECTONIC INTERNATIONAL LIMITED |
| COMPANY INFORMATION |
| FOR THE PERIOD 1 JANUARY 2022 TO 30 JUNE 2023 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Limited liability partnership in England & Wales |
| Registered number OC312313 |
| Elfed House |
| Oak Tree Court |
| Cardiff Gate Business Park |
| CARDIFF |
| County of Cardiff |
| CF23 8RS |
| TECTONIC INTERNATIONAL LIMITED (REGISTERED NUMBER: 03696680) |
| BALANCE SHEET |
| 30 JUNE 2023 |
| 2023 | 2021 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
| NET (LIABILITIES)/ASSETS | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Revaluation reserve |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| 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. |
| TECTONIC INTERNATIONAL LIMITED (REGISTERED NUMBER: 03696680) |
| BALANCE SHEET - continued |
| 30 JUNE 2023 |
| In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
| The financial statements were approved for issue by the Board of Directors and authorised for issue on |
| TECTONIC INTERNATIONAL LIMITED (REGISTERED NUMBER: 03696680) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 JANUARY 2022 TO 30 JUNE 2023 |
| 1. | STATUTORY INFORMATION |
| Tectonic 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. |
| The company's functional and presentational currency in the financial statements is the Sterling (£), rounded to the nearest pound. |
| The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| There has been no material departures from FRS 102 1A during the year. |
| Turnover |
| The turnover shown in the profit and loss account represents income receivable during the year, exclusive of Value Added Tax, in respect of the design and manufacture of web printing press inspection systems. |
| Goodwill |
| Goodwill, being the amount paid in connection with the acquisition of a business in 2001, is being amortised evenly over its useful economic life of twenty years. |
| Based on the performance of the company since acquisition, the directors consider that the useful economic life of goodwill is still valid. |
| Amortisation |
| Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows: |
| Goodwill | -5% straight line |
| 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. |
| Fixed assets |
| All fixed assets are initially recorded at cost. |
| Depreciation |
| Depreciation is calculated so as to write off an asset, less its estimated residual value,over the useful economic life of that asset as follows: |
| Freehold property | -over 50 years |
| Plant and machinery | -25% on reducing balance |
| Fixtures & fittings | -25% on reducing balance |
| Computer equipment | -25% on reducing balance |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| TECTONIC INTERNATIONAL LIMITED (REGISTERED NUMBER: 03696680) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 JANUARY 2022 TO 30 JUNE 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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 period 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. |
| Research and development |
| Research and development expenditure which is regarded as part of a continuing operation required to maintain the company's business and it's competitive position, is written off when incurred. |
| 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit. |
| Government grants |
| Government grants of a revenue nature are credited to the profit and loss account in the period to which they relate. Government grants made as a contribution towards expenditure on fixed assets are treated as deferred income and amortised until the conditions of the grant are met. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| TECTONIC INTERNATIONAL LIMITED (REGISTERED NUMBER: 03696680) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 JANUARY 2022 TO 30 JUNE 2023 |
| 4. | INTANGIBLE FIXED ASSETS |
| Website |
| Goodwill | costs | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2022 |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 30 June 2023 |
| AMORTISATION |
| At 1 January 2022 |
| Amortisation for period |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 30 June 2023 |
| NET BOOK VALUE |
| At 30 June 2023 |
| At 31 December 2021 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Land and | Plant and | and | Computer |
| Property | machinery | Fittings | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 January 2022 |
| Disposals | ( |
) | ( |
) | ( |
) | ( |
) | ( |
) |
| At 30 June 2023 |
| DEPRECIATION |
| At 1 January 2022 |
| Charge for period |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) | ( |
) |
| At 30 June 2023 |
| NET BOOK VALUE |
| At 30 June 2023 |
| At 31 December 2021 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2021 |
| £ | £ |
| Trade debtors |
| VAT |
| Deferred tax asset |
| Prepayments and accrued income |
| TECTONIC INTERNATIONAL LIMITED (REGISTERED NUMBER: 03696680) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 JANUARY 2022 TO 30 JUNE 2023 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2021 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Corporation tax |
| Social security and other taxes |
| Other creditors |
| Director's loan account | 69,612 | 3,377 |
| Accruals and deferred income |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2023 | 2021 |
| £ | £ |
| Bank loans - 1-5 years |
| Director's loan account | - | 190,000 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2023 | 2021 |
| £ | £ |
| Bank loans |
| The bank loan is secured by a fixed charge over the freehold property of the company. The bank loan has been repaid in full post year-end. |