THURROCK ENGINEERING SUPPLIES LIMITED

Company Registration Number:
09259452 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2022

Period of accounts

Start date: 01 January 2022

End date: 31 December 2022

THURROCK ENGINEERING SUPPLIES LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2022

Balance sheet
Notes

THURROCK ENGINEERING SUPPLIES LIMITED

Balance sheet

As at 31 December 2022


Notes

2022

2021


£

£
Fixed assets
Tangible assets: 3 229,073 208,398
Total fixed assets: 229,073 208,398
Current assets
Stocks: 150,192 107,537
Debtors:   1,553,421 761,271
Cash at bank and in hand: 282,407 566,634
Total current assets: 1,986,020 1,435,442
Creditors: amounts falling due within one year:   (1,215,546) (865,975)
Net current assets (liabilities): 770,474 569,467
Total assets less current liabilities: 999,547 777,865
Creditors: amounts falling due after more than one year:   (292,049) (356,290)
Provision for liabilities: (6,834) (23,869)
Total net assets (liabilities): 700,664 397,706
Capital and reserves
Called up share capital: 1,000 1,000
Profit and loss account: 699,664 396,706
Shareholders funds: 700,664 397,706

The notes form part of these financial statements

THURROCK ENGINEERING SUPPLIES LIMITED

Balance sheet statements

For the year ending 31 December 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 28 September 2023
and signed on behalf of the board by:

Name: Luke Keenan
Status: Director

The notes form part of these financial statements

THURROCK ENGINEERING SUPPLIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover consists of the invoiced value (excluding VAT) receivable by the company in the ordinary course of business for goods supplied and for services supplied as a principal.

Tangible fixed assets and depreciation policy

Depreciation is calculated to write off the cost, less estimated residual values, of tangible fixed assets over their estimated useful lives to the business. Where there is evidence of impairment, fixed assets are written down to receivable amount. Any such write down would be charged to operating profit.Motor Vehicles 25.0% Depreciation is calculated to write off the cost, less estimated residual values, of tangible fixed assets over their estimated useful lives to the business. Where there is evidence of impairment, fixed assets are written down to receivable amount. Any such write down would be charged to operating profit.Motor Vehicles 25.0% Reducing BalancePlant & Machinery 25.0% Reducing Balance

Other accounting policies

Deferred TaxationDeferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.Stock, work in progress and long-term contractsStock and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is determined on a first-in. first-out basis. Cost consists of direct materials, labour and attributable overheads. Net realisable value is based on estimated selling price less any further costs of realisation.Leased AssetsRentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight-line basis over the lease termsAssets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.Pension CostsContributions in respect of the company's defined contribution pension scheme are charged to profit and loss account for the year in which they are payable to the scheme. Differences between contributions payable and contributions actually paid are shown as either accruals or prepayments at the year end.

THURROCK ENGINEERING SUPPLIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

2. Employees

2022 2021
Average number of employees during the period 13 13

THURROCK ENGINEERING SUPPLIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

3. Tangible Assets

Total
Cost £
At 01 January 2022 373,593
Additions 110,500
Disposals (40,000)
At 31 December 2022 444,093
Depreciation
At 01 January 2022 165,195
Charge for year 67,325
On disposals (17,500)
At 31 December 2022 215,020
Net book value
At 31 December 2022 229,073
At 31 December 2021 208,398

THURROCK ENGINEERING SUPPLIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

4. Related party transactions

Name of the related party: Keenan & Keenan
Relationship:
Common Directors & Shareholders
Description of the Transaction: Rent Payments £120,000
£
Balance at 01 January 2022 0
Balance at 31 December 2022 0
Name of the related party: P M Keenan
Relationship:
Common Director & Shareholder
Description of the Transaction: Sale of Motor Vehicle £22,500
£
Balance at 01 January 2022 0
Balance at 31 December 2022 0