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COMPANY REGISTRATION NUMBER: 03869793
Thames Gateway Manufacturing Centre Limited
Filleted Unaudited Financial Statements
31 October 2023
Thames Gateway Manufacturing Centre Limited
Financial Statements
Year ended 31 October 2023
Contents
Pages
Statement of financial position
1 to 2
Notes to the financial statements
3 to 5
Thames Gateway Manufacturing Centre Limited
Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
3,597
8,368
Current assets
Stocks
38,288
26,882
Debtors
6
120,043
46,621
Cash at bank and in hand
843,040
656,390
------------
---------
1,001,371
729,893
Creditors: amounts falling due within one year
7
( 146,884)
( 96,211)
------------
---------
Net current assets
854,487
633,682
---------
---------
Total assets less current liabilities
858,084
642,050
Provisions
Taxation including deferred tax
289
( 488)
---------
---------
Net assets
858,373
641,562
---------
---------
Thames Gateway Manufacturing Centre Limited
Statement of Financial Position (continued)
31 October 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
23,750
23,750
Capital redemption reserve
71,250
71,250
Profit and loss account
763,373
546,562
---------
---------
Shareholders funds
858,373
641,562
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 5 February 2024 , and are signed on behalf of the board by:
S D Wilson
Director
Company registration number: 03869793
Thames Gateway Manufacturing Centre Limited
Notes to the Financial Statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 5 Hainult Business Park, Forest Road, Hainult, Essex, IG6 3JP.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
straight line over 3 years
Plant and machinery
-
straight line over 3-6 years
Equipment
-
straight line over 3 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
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.
Defined contribution plans
The company operates a money purchase pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2022: 9 ).
5. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
£
Cost
At 1 November 2022
80,948
299,667
29,012
88,476
498,103
Disposals
( 3,155)
( 3,155)
--------
---------
--------
--------
---------
At 31 October 2023
80,948
299,667
25,857
88,476
494,948
--------
---------
--------
--------
---------
Depreciation
At 1 November 2022
80,948
293,916
26,395
88,476
489,735
Charge for the year
2,465
2,306
4,771
Disposals
( 3,155)
( 3,155)
--------
---------
--------
--------
---------
At 31 October 2023
80,948
296,381
25,546
88,476
491,351
--------
---------
--------
--------
---------
Carrying amount
At 31 October 2023
3,286
311
3,597
--------
---------
--------
--------
---------
At 31 October 2022
5,751
2,617
8,368
--------
---------
--------
--------
---------
6. Debtors
2023
2022
£
£
Trade debtors
107,010
37,747
Other debtors
13,033
8,874
---------
--------
120,043
46,621
---------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
13,814
16,080
Corporation tax
82,108
52,753
Social security and other taxes
26,098
2,861
Other creditors
24,864
24,517
---------
--------
146,884
96,211
---------
--------