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REGISTERED NUMBER: 11681032 (England and Wales)












Unaudited Financial Statements

For The Year Ended 30 November 2023

for

TT Electrical (Midlands) Limited

TT Electrical (Midlands) Limited (Registered number: 11681032)






Contents of the Financial Statements
For The Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TT Electrical (Midlands) Limited

Company Information
For The Year Ended 30 November 2023







Directors: T R Chadney
J D Thomas





Secretary:





Registered office: 18/22 Church Street
Malvern
Worcestershire
WR14 2AY





Registered number: 11681032 (England and Wales)





Accountants: Allan Brown ( A& T Services Ltd)
18/22 Church Street
Malvern
Worcestershire
WR14 2AY

TT Electrical (Midlands) Limited (Registered number: 11681032)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
Fixed assets
Intangible assets 4 19,924 23,909
Tangible assets 5 6,203 12,927
26,127 36,836

Current assets
Debtors 6 43,663 41,435
Cash at bank 58,083 56,607
101,746 98,042
Creditors
Amounts falling due within one year 7 37,177 38,643
Net current assets 64,569 59,399
Total assets less current liabilities 90,696 96,235

Creditors
Amounts falling due after more than one
year

8

-

5,853
Net assets 90,696 90,382

Capital and reserves
Called up share capital 100 100
Retained earnings 90,596 90,282
90,696 90,382

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

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

TT Electrical (Midlands) Limited (Registered number: 11681032)

Balance Sheet - continued
30 November 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 19 April 2024 and were signed on its behalf by:





J D Thomas - Director


TT Electrical (Midlands) Limited (Registered number: 11681032)

Notes to the Financial Statements
For The Year Ended 30 November 2023

1. STATUTORY INFORMATION

TT Electrical (Midlands) 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.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc - 25% on reducing balance

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.


TT Electrical (Midlands) Limited (Registered number: 11681032)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued
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.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

TT Electrical (Midlands) Limited (Registered number: 11681032)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 39,849
AMORTISATION
At 1 December 2022 15,940
Charge for year 3,985
At 30 November 2023 19,925
NET BOOK VALUE
At 30 November 2023 19,924
At 30 November 2022 23,909

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022 40,254
Additions 229
At 30 November 2023 40,483
DEPRECIATION
At 1 December 2022 27,327
Charge for year 6,953
At 30 November 2023 34,280
NET BOOK VALUE
At 30 November 2023 6,203
At 30 November 2022 12,927

TT Electrical (Midlands) Limited (Registered number: 11681032)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 December 2022
and 30 November 2023 30,833
DEPRECIATION
At 1 December 2022 21,213
Charge for year 6,167
At 30 November 2023 27,380
NET BOOK VALUE
At 30 November 2023 3,453
At 30 November 2022 9,620

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 10,260 20,562
Other debtors 33,403 20,873
43,663 41,435

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade creditors - (1 )
Taxation and social security 29,516 30,056
Other creditors 7,661 8,588
37,177 38,643

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.11.23 30.11.22
£    £   
Other creditors - 5,853