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Registered number: 02518328
TQ ENVIRONMENTAL LIMITED
Unaudited Financial Statements
For The Year Ended 31 December 2023
C W Dix Limited
Accountants & Business Advisors
4b Silkwood Court
Wakefield
West Yorkshire
WF5 9TP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 02518328
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 51,912 40,228
51,912 40,228
CURRENT ASSETS
Stocks 6 272,203 342,921
Debtors 7 328,963 310,800
Cash at bank and in hand 211,234 241,498
812,400 895,219
Creditors: Amounts Falling Due Within One Year 8 (354,579 ) (556,970 )
NET CURRENT ASSETS (LIABILITIES) 457,821 338,249
TOTAL ASSETS LESS CURRENT LIABILITIES 509,733 378,477
Creditors: Amounts Falling Due After More Than One Year 9 (80,179 ) (22,496 )
NET ASSETS 429,554 355,981
CAPITAL AND RESERVES
Called up share capital 11 191 191
Share premium account 50,344 50,344
Capital redemption reserve 5,293 5,293
Profit and Loss Account 373,726 300,153
SHAREHOLDERS' FUNDS 429,554 355,981
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Gary Hall
Director
18/09/2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
TQ ENVIRONMENTAL LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 02518328 . The registered office is 2 Silkwood Court, Wakefield, WF5 9TP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Consolidation

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The company has four wholly owned dormant subsidiaries which, in the opinion of the directors, are not matrial in the context of the group. The financial statements present information about the company as an individual entity and not about its group.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 10% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 25% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 3 3
Sales, marketing and distribution 3 2
Manufacturing 10 13
16 18
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2023 56,379 16,999 2,583 31,127 107,088
Additions 2,832 18,145 3,060 - 24,037
As at 31 December 2023 59,211 35,144 5,643 31,127 131,125
Depreciation
As at 1 January 2023 37,404 4,250 1,225 23,981 66,860
Provided during the period 2,181 7,723 663 1,786 12,353
As at 31 December 2023 39,585 11,973 1,888 25,767 79,213
...CONTINUED
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Net Book Value
As at 31 December 2023 19,626 23,171 3,755 5,360 51,912
As at 1 January 2023 18,975 12,749 1,358 7,146 40,228
5. Investments
Unlisted
£
Cost
As at 1 January 2023 478
As at 31 December 2023 478
Provision
As at 1 January 2023 478
As at 31 December 2023 478
Net Book Value
As at 31 December 2023 -
As at 1 January 2023 -
6. Stocks
2023 2022
£ £
Stock 272,203 342,921
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 179,986 289,436
Corporation tax recoverable assets 24,477 3,864
Amounts owed by parent undertaking - 17,500
204,463 310,800
Due after more than one year
Amounts owed by group undertakings 124,500 -
328,963 310,800
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 6,575 11,888
Trade creditors 74,324 192,437
Bank loans and overdrafts 125,739 180,589
Other taxes and social security 22,904 17,752
VAT 30,633 59,900
Other creditors 84,800 84,800
Accruals and deferred income 9,604 9,604
354,579 556,970
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9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 19,354 -
Bank loans 60,825 22,496
80,179 22,496
10. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 7,810 12,395
Later than one year and not later than five years 19,354 -
27,164 12,395
Less: Finance charges allocated to future periods 1,235 507
25,929 11,888
11. Share Capital
2023 2022
Allotted, called up and fully paid £ £
191 Ordinary Shares of £ 1 each 191 191
Share Rights

Ordinary share rights
The company's ordinary shares, which carry no right to fixed income, each carry the right to one vote at general meetings of the company.


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