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REGISTERED NUMBER: 00848707 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Tees-side Welding Equipment Company
Limited

Tees-side Welding Equipment Company
Limited (Registered number: 00848707)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Tees-side Welding Equipment Company
Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: B O Jones
Mrs P N Jones





SECRETARY: B O Jones





REGISTERED OFFICE: 23 Whitehouse Road
Billingham
Stockton on Tees
TS22 5ER





REGISTERED NUMBER: 00848707 (England and Wales)





ACCOUNTANTS: KING HOPE
CHARTERED ACCOUNTANTS
18 Scarborough Street
Hartlepool
TS24 7DA

Tees-side Welding Equipment Company
Limited (Registered number: 00848707)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,387 8,465

CURRENT ASSETS
Stocks 11,000 11,000
Debtors 5 49,576 53,172
Cash at bank 62,073 76,179
122,649 140,351
CREDITORS
Amounts falling due within one year 6 23,669 29,604
NET CURRENT ASSETS 98,980 110,747
TOTAL ASSETS LESS CURRENT
LIABILITIES

115,367

119,212

PROVISIONS FOR LIABILITIES 3,114 1,608
NET ASSETS 112,253 117,604

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 112,251 117,602
SHAREHOLDERS' FUNDS 112,253 117,604

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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.

Tees-side Welding Equipment Company
Limited (Registered number: 00848707)

Balance Sheet - continued
30 June 2023



The financial statements were approved by the Board of Directors and authorised for issue on 28 February 2024 and were signed on its behalf by:





B O Jones - Director


Tees-side Welding Equipment Company
Limited (Registered number: 00848707)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Tees-side Welding Equipment Company 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. 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.
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Tees-side Welding Equipment Company
Limited (Registered number: 00848707)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2022 12,758 1,399 14,157
Additions 19,995 566 20,561
Disposals (12,758 ) - (12,758 )
At 30 June 2023 19,995 1,965 21,960
DEPRECIATION
At 1 July 2022 5,582 110 5,692
Charge for year 4,999 464 5,463
Eliminated on disposal (5,582 ) - (5,582 )
At 30 June 2023 4,999 574 5,573
NET BOOK VALUE
At 30 June 2023 14,996 1,391 16,387
At 30 June 2022 7,176 1,289 8,465

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 30,072 34,357
Other debtors 19,504 18,815
49,576 53,172

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors 19,834 20,087
Taxation and social security 1,653 6,967
Other creditors 2,182 2,550
23,669 29,604

7. OTHER FINANCIAL COMMITMENTS

A final dividend for the year of £18,200 was declared on 28 February 2024. (2022 - £18,000 on 1 March 2023)

Tees-side Welding Equipment Company
Limited (Registered number: 00848707)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

30.6.23 30.6.22
£    £   
B O Jones
Balance outstanding at start of year 17,731 19,587
Amounts advanced 18,389 17,644
Amounts repaid (18,000 ) (19,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 18,120 17,731

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £18,000 (2022 - £19,500) were paid to directors.