Registration number:
Techniques Surfaces (UK) Limited
for the Year Ended 31 October 2021
Techniques Surfaces (UK) Limited
(Registration number: 02710624)
Balance Sheet as at 31 October 2021
Note |
2021 |
2020 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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|
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Net assets |
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Capital and reserves |
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Called up share capital |
400,000 |
400,000 |
|
Profit and loss account |
501,379 |
545,820 |
|
Shareholders' funds |
901,379 |
945,820 |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised for issue by the
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Techniques Surfaces (UK) Limited
Notes to the Financial Statements for the Year Ended 31 October 2021
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
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Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Techniques Surfaces (UK) Limited
Notes to the Financial Statements for the Year Ended 31 October 2021
Tax
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Land and Buildings |
2% straight line |
Plant and machinery |
10% - 20% straight line |
Fixtures and fittings |
15% straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Techniques Surfaces (UK) Limited
Notes to the Financial Statements for the Year Ended 31 October 2021
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Techniques Surfaces (UK) Limited
Notes to the Financial Statements for the Year Ended 31 October 2021
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 November 2020 |
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Additions |
- |
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At 31 October 2021 |
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Depreciation |
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At 1 November 2020 |
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Charge for the year |
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At 31 October 2021 |
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Carrying amount |
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At 31 October 2021 |
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At 31 October 2020 |
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Included within the net book value of land and buildings above is £169,378 (2020 - £177,778) in respect of freehold land and buildings.
Stocks |
2021 |
2020 |
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Raw materials and consumables |
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Finished goods and goods for resale |
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Debtors |
Note |
2021 |
2020 |
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Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Prepayments |
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Other debtors |
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Techniques Surfaces (UK) Limited
Notes to the Financial Statements for the Year Ended 31 October 2021
Creditors |
Creditors: amounts falling due within one year
Note |
2021 |
2020 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Accruals and deferred income |
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Share capital |
Allotted, called up and fully paid shares
2021 |
2020 |
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No. |
£ |
No. |
£ |
|
|
|
240,000 |
|
240,000 |
|
|
160,000 |
|
160,000 |
|
|
|
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
Related party transactions |
Directors' remuneration
The directors' remuneration for the year was as follows:
2021 |
2020 |
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Remuneration |
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Contributions paid to money purchase schemes |
|
|
67,117 |
68,715 |
Techniques Surfaces (UK) Limited
Notes to the Financial Statements for the Year Ended 31 October 2021
During the year the number of directors who were receiving benefits and share incentives was as follows:
2021 |
2020 |
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Accruing benefits under money purchase pension scheme |
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Summary of transactions with parent
The company has taken advantage of the exemption from disclosure in paragraph 33.1A of FRS 102 in respect of transactions with the parent company.
Summary of transactions with entities with joint control or significant interest
The company has taken advantage of the exemption from disclosure in paragraph 33.1A of FRS 102 in respect of transactions with group companies.
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
These financial statements are available upon request from Rue Benoit Fourneyron, 42166 Andrezieux-Boutheon Cedex, France
The ultimate controlling party is