TEK Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02787537 (England and Wales)

TEK LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

5

DIRECTORS:

M J Callard

P D Virgo

Mrs M M Callard

N Sullivan

J Cartland

SECRETARY:

P D Virgo

REGISTERED OFFICE:

31 St John's

Worcester

Worcestershire

WR2 5AG

REGISTERED NUMBER:

02787537 (England and Wales)

SENIOR STATUTORY AUDITOR:

Gavin Gardiner FCA

AUDITORS:

Gardiner Fosh

Chartered Accountants and Statutory Auditor

31 St John's

Worcester

Worcestershire

WR2 5AG

FIXED ASSETS

Tangible assets

4

-

-

CURRENT ASSETS

Stocks

134,351

184,781

Debtors

5

489,449

884,454

Cash at bank and in hand

10,245

150,014

634,045

1,219,249

CREDITORS

Amounts falling due within one year

6

349,995

707,151

NET CURRENT ASSETS

284,050

512,098

TOTAL ASSETS LESS CURRENT LIABILITIES

284,050

512,098

CREDITORS

Amounts falling due after more than one year

7

-

216,887

NET ASSETS

284,050

295,211

CAPITAL AND RESERVES

Called up share capital

20,000

20,000

Retained earnings

264,050

275,211

SHAREHOLDERS' FUNDS

284,050

295,211

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 8 November 2018 and were signed on its behalf by:

P D Virgo - Director

J Cartland - Director

1.	STATUTORY INFORMATION

TEK 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of goods and services, and interim contract work in progress applications, excluding

value added tax.

Tangible fixed assets

Tangible fixed assets are initially capitalised at cost and depreciated at varying rates on cost over their expected economic

life.

Stocks

Stocks of materials and components are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items. Work in progress is valued at direct cost plus estimated attributable overheads.

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.

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 transaction.

Exchange differences are taken into account in arriving at the operating result.

Hire purchase and 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2017 - 27 ) .

4.	TANGIBLE FIXED ASSETS

5.

DEBTORS

2018

2017

£

£

Amounts falling due within one year:

Trade debtors

310,847

463,840

Amounts recoverable on

contracts

150,201

416,962

Other debtors

5,641

3,652

466,689

884,454

Amounts falling due after more than one year:

Amounts owed by group undertakings

22,760

-

Aggregate amounts

489,449

884,454

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

206,117

601,295

Taxation and social security

37,823

(12,178

)

Other creditors

106,055

118,034

349,995

707,151

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Amounts owed to group undertakings

-

216,887

8.	SECURED DEBTS

HSBC Bank Limited holds a Debenture over the assets of the company and dated 11 November 2009.

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

The Report of the Auditors was unqualified.

Gavin Gardiner FCA (Senior Statutory Auditor)

for and on behalf of Gardiner Fosh

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

11.	RELATED PARTY DISCLOSURES

12.	APB ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax

authorities and assist with the preparation of the financial statements.