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Registration number: 09432549

4T Engineering Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

4T Engineering Limited

Contents
for the Year Ended 31 March 2023

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

4T Engineering Limited

Company Information
for the Year Ended 31 March 2023

Directors

Mr V M O'Horo

Mr S O'Horo

Company secretary

Windsor Accountancy Limited

Registered office

St Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

Registered number

09432549 ( England and Wales )

Accountants

Windsor Accountancy Ltd
Chartered Certified Accountants
St. Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

 

4T Engineering Limited

(Registration number: 09432549)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

25,765

35,277

Current assets

 

Debtors

5

52,539

6,881

Cash at bank and in hand

 

37,895

20,278

 

90,434

27,159

Creditors: Amounts falling due within one year

6

(59,614)

(7,977)

Net current assets

 

30,820

19,182

Total assets less current liabilities

 

56,585

54,459

Provisions for liabilities

(6,441)

(6,703)

Net assets

 

50,144

47,756

Capital and reserves

 

Called up share capital

200

200

Retained earnings

49,944

47,556

Shareholders' funds

 

50,144

47,756

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

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 by the Board on 23 August 2023 and signed on its behalf by:
 

 

4T Engineering Limited

(Registration number: 09432549)
Balance Sheet as at 31 March 2023

.........................................
Mr V M O'Horo
Director

 

4T Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
St Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

These financial statements were authorised for issue by the Board on 23 August 2023.

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

4T Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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

Computer Equipment

33% Straight Line

Motor Vehicles

25% Reducing Balance

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

4T Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

4T Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

9,216

40,695

49,911

At 31 March 2023

9,216

40,695

49,911

Depreciation

At 1 April 2022

7,004

7,630

14,634

Charge for the year

1,246

8,266

9,512

At 31 March 2023

8,250

15,896

24,146

Carrying amount

At 31 March 2023

966

24,799

25,765

At 31 March 2022

2,212

33,065

35,277

5

Debtors

Current

2023
£

2022
£

Trade debtors

12,947

6,521

Prepayments

216

360

Other debtors

39,376

-

 

52,539

6,881

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

18,615

7,194

Other creditors

40,999

783

59,614

7,977

 

4T Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

7

Related party transactions

Summary of transactions with key management

Transactions with directors

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Mr V M O'Horo

(312)

40,000

(312)

39,376

Mr S O'Horo

(471)

181

(40,709)

(40,999)

 

(783)

40,181

(41,021)

(1,623)

       

 

2022

At 1 April 2021
£

Advances to director
£

Repayments by director
£

At 31 March 2022
£

Mr V M O'Horo

(245)

245

(312)

(312)

Mr S O'Horo

(1,202)

1,202

(471)

(471)

 

(1,447)

1,447

(783)

(783)

       

 

Other transactions with directors

The balance due to/from the directors at the year end date was free of interest and deemed repayable on demand.