Registered number
04049795
TJ ELECTRONICS LIMITED
Filleted Accounts
31 July 2023
TJ ELECTRONICS LIMITED
Registered number: 04049795
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 10,842 11,470
Investments 5 35,889 35,889
46,731 47,359
Current assets
Stocks 349 363
Debtors 6 17,492 18,676
Cash at bank and in hand 198,997 196,984
216,838 216,023
Creditors: amounts falling due within one year 7 (84,263) (86,783)
Net current assets 132,575 129,240
Net assets 179,306 176,599
Capital and reserves
Called up share capital 1,000 1,000
Share premium 10,549 10,549
Profit and loss account 167,757 165,050
Shareholders' funds 179,306 176,599
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T. Jenner
Director
Approved by the board on 15 December 2023
TJ ELECTRONICS LIMITED
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and equipment 25% reducing balance
Fixtures and fittings 5% reducing balance
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2022 23,603
At 31 July 2023 23,603
Amortisation
At 1 August 2022 23,603
At 31 July 2023 23,603
Net book value
At 31 July 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Fixtures and fittings Plant and equipment Total
£ £ £
Cost
At 1 August 2022 16,870 5,040 21,910
At 31 July 2023 16,870 5,040 21,910
Depreciation
At 1 August 2022 5,676 4,764 10,440
Charge for the year 559 69 628
At 31 July 2023 6,235 4,833 11,068
Net book value
At 31 July 2023 10,635 207 10,842
At 31 July 2022 11,194 276 11,470
5 Investments
Other
investments
£
Cost
At 1 August 2022 35,889
At 31 July 2023 35,889
6 Debtors 2023 2022
£ £
Trade debtors 17,492 18,676
7 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 500 241
Directors loan account 59,646 58,790
Corporation tax 15,560 19,089
Other taxes and social security costs 3,130 3,311
Value Added Tax 3,940 3,865
Other creditors 1,487 1,487
84,263 86,783
8 Other information
TJ ELECTRONICS LIMITED is a private company limited by shares and incorporated in England.
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