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REGISTERED NUMBER: 11957551 (England and Wales)

















TSW Electrical Ltd

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023






TSW Electrical Ltd (Registered number: 11957551)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TSW Electrical Ltd

COMPANY INFORMATION
for the Year Ended 30 April 2023







DIRECTOR: Mr T S Walker





REGISTERED OFFICE: 3 Churchill Avenue
Burstwick
Hull
HU12 9HF





REGISTERED NUMBER: 11957551 (England and Wales)





ACCOUNTANTS: Southgates
Chartered Certified Accountants
9 Market Place
Hedon
East Yorkshire
HU12 8JA

TSW Electrical Ltd (Registered number: 11957551)

BALANCE SHEET
30 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,590 4,698

CURRENT ASSETS
Debtors 5 34,813 42,590
Cash at bank 15,260 9,691
50,073 52,281
CREDITORS
Amounts falling due within one year 6 16,766 12,412
NET CURRENT ASSETS 33,307 39,869
TOTAL ASSETS LESS CURRENT
LIABILITIES

37,897

44,567

CREDITORS
Amounts falling due after more than one
year

7

(37,024

)

(43,382

)

PROVISIONS FOR LIABILITIES 8 (872 ) (893 )
NET ASSETS 1 292

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings - 291
SHAREHOLDERS' FUNDS 1 292

TSW Electrical Ltd (Registered number: 11957551)

BALANCE SHEET - continued
30 April 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 September 2023 and were signed by:





Mr T S Walker - Director


TSW Electrical Ltd (Registered number: 11957551)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

TSW Electrical Ltd 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.

2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year 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 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

TSW Electrical Ltd (Registered number: 11957551)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2022 2,289 7,454 875 10,618
Additions 1,236 - 187 1,423
At 30 April 2023 3,525 7,454 1,062 12,041
DEPRECIATION
At 1 May 2022 1,105 4,309 506 5,920
Charge for year 605 787 139 1,531
At 30 April 2023 1,710 5,096 645 7,451
NET BOOK VALUE
At 30 April 2023 1,815 2,358 417 4,590
At 30 April 2022 1,184 3,145 369 4,698

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2022
and 30 April 2023 7,454
DEPRECIATION
At 1 May 2022 4,309
Charge for year 787
At 30 April 2023 5,096
NET BOOK VALUE
At 30 April 2023 2,358
At 30 April 2022 3,145

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,739 2,325
Other debtors 25,617 26,817
Directors' current accounts 6,617 12,521
Prepayments 840 927
34,813 42,590

TSW Electrical Ltd (Registered number: 11957551)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 4,809 4,533
Hire purchase contracts 1,272 1,144
Tax 9,470 5,685
Accruals 1,215 1,050
16,766 12,412

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 5,697 5,429
Bank loans - 2-5 years 17,082 16,286
Bank loans more 5 yr by instal 13,293 19,443
Hire purchase contracts 952 2,224
37,024 43,382

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 13,293 19,443

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 872 893

Deferred
tax
£   
Balance at 1 May 2022 893
Credit to Profit and Loss Account during year (21 )
Balance at 30 April 2023 872

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2023 and 30 April 2022:

2023 2022
£    £   
Mr T S Walker
Balance outstanding at start of year 12,521 9,649
Amounts advanced 6,617 12,521
Amounts repaid (12,521 ) (9,649 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 6,617 12,521

The overdrawn balance on the Director's current account was repaid by 1st August 2023.