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REGISTERED NUMBER: 03787399 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31st December 2023

for

Telectronics Electrical Supplies Limited

Telectronics Electrical Supplies Limited (Registered number: 03787399)

Contents of the Financial Statements
for the Year Ended 31st December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Telectronics Electrical Supplies Limited

Company Information
for the Year Ended 31st December 2023







DIRECTORS: C J Davies
J N Bell





SECRETARY: C J Davies





REGISTERED OFFICE: Network 331
Lysons Avenue
Aldershot
Hampshire
GU12 5QF





REGISTERED NUMBER: 03787399 (England and Wales)





ACCOUNTANTS: Whiteleys
Chartered Certified Accountants
Sovereign House
155 High Street
Aldershot
Hampshire
GU11 1TT

Telectronics Electrical Supplies Limited (Registered number: 03787399)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 8,357 16,705

CURRENT ASSETS
Stocks 29,315 26,369
Debtors 6 146,458 120,670
Cash at bank 61,349 82,428
237,122 229,467
CREDITORS
Amounts falling due within one year 7 112,603 132,264
NET CURRENT ASSETS 124,519 97,203
TOTAL ASSETS LESS CURRENT
LIABILITIES

132,876

113,908

CREDITORS
Amounts falling due after more than one
year

8

(13,422

)

(22,188

)

PROVISIONS FOR LIABILITIES (2,017 ) (3,066 )
NET ASSETS 117,437 88,654

CAPITAL AND RESERVES
Called up share capital 100 100
Capital redemption reserve 50 50
Retained earnings 117,287 88,504
SHAREHOLDERS' FUNDS 117,437 88,654

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Telectronics Electrical Supplies Limited (Registered number: 03787399)

Balance Sheet - continued
31st December 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7th March 2024 and were signed on its behalf by:





J N Bell - Director


Telectronics Electrical Supplies Limited (Registered number: 03787399)

Notes to the Financial Statements
for the Year Ended 31st December 2023


1. STATUTORY INFORMATION

Telectronics Electrical Supplies 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity.

Tangible fixed assets
Tangible fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over their estimated useful lives as follows:

Fixtures and fittings-25% on cost
Motor vehicles-25% on cost
Computer equipment-33% on cost

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in profit or loss.

Stocks
Stocks are measured at the lower of cost and selling price less cost to complete and sell.

Cost is calculated on a first in, first out basis and includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.


Telectronics Electrical Supplies Limited (Registered number: 03787399)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


3. ACCOUNTING POLICIES - continued
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.

Financial instruments
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Stocks are also assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of stock or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

Telectronics Electrical Supplies Limited (Registered number: 03787399)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


3. ACCOUNTING POLICIES - continued

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Stocks are also assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of stock or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1st January 2023
and 31st December 2023 7,352 58,019 24,514 89,885
DEPRECIATION
At 1st January 2023 7,352 41,883 23,945 73,180
Charge for year - 8,068 280 8,348
At 31st December 2023 7,352 49,951 24,225 81,528
NET BOOK VALUE
At 31st December 2023 - 8,068 289 8,357
At 31st December 2022 - 16,136 569 16,705

Telectronics Electrical Supplies Limited (Registered number: 03787399)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st January 2023
and 31st December 2023 32,271
DEPRECIATION
At 1st January 2023 16,135
Charge for year 8,068
At 31st December 2023 24,203
NET BOOK VALUE
At 31st December 2023 8,068
At 31st December 2022 16,136

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 137,355 112,066
Other debtors 9,103 8,604
146,458 120,670

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,745 10,989
Hire purchase contracts 689 8,024
Trade creditors 45,655 65,473
Taxation and social security 52,264 45,328
Other creditors 3,250 2,450
112,603 132,264

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 13,422 21,499
Hire purchase contracts - 689
13,422 22,188