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REGISTERED NUMBER: 05533107 (England and Wales)















ABRIDGED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

TEESSIDE INDUSTRIAL CONTROLS LIMITED

TEESSIDE INDUSTRIAL CONTROLS LIMITED (REGISTERED NUMBER: 05533107)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


TEESSIDE INDUSTRIAL CONTROLS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: P T Atkinson
J Dickinson





REGISTERED OFFICE: Portrack Grange Road
Stockton on Tees
TS18 2PF





REGISTERED NUMBER: 05533107 (England and Wales)

TEESSIDE INDUSTRIAL CONTROLS LIMITED (REGISTERED NUMBER: 05533107)

ABRIDGED BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 120,095 79,981

CURRENT ASSETS
Stocks 941,101 917,680
Debtors 1,714,618 1,548,574
Cash at bank and in hand 24,487 329,597
2,680,206 2,795,851
CREDITORS
Amounts falling due within one year 1,422,765 1,675,819
NET CURRENT ASSETS 1,257,441 1,120,032
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,377,536

1,200,013

CREDITORS
Amounts falling due after more than one
year

(143,055

)

(175,000

)

PROVISIONS FOR LIABILITIES (13,937 ) (9,404 )
NET ASSETS 1,220,544 1,015,609

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Capital redemption reserve 900 900
Retained earnings 1,209,644 1,004,709
SHAREHOLDERS' FUNDS 1,220,544 1,015,609

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

TEESSIDE INDUSTRIAL CONTROLS LIMITED (REGISTERED NUMBER: 05533107)

ABRIDGED BALANCE SHEET - continued
31 DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 18 September 2024 and were signed on its behalf by:





P T Atkinson - Director


TEESSIDE INDUSTRIAL CONTROLS LIMITED (REGISTERED NUMBER: 05533107)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Teesside Industrial Controls 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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.
Plant and machinery - 20% on cost
Office equipment - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 20% on cost

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

Hire purchase and leasing commitments
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 24 (2022 - 24 ) .

TEESSIDE INDUSTRIAL CONTROLS LIMITED (REGISTERED NUMBER: 05533107)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Totals
£
COST
At 1 January 2023 180,093
Additions 76,700
At 31 December 2023 256,793
DEPRECIATION
At 1 January 2023 100,112
Charge for year 36,586
At 31 December 2023 136,698
NET BOOK VALUE
At 31 December 2023 120,095
At 31 December 2022 79,981

5. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Invoice discounting loan 599,009 823,428

The invoice discounting loan is secured on the company's debtors.

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£ £
J Dickinson
Balance outstanding at start of year 50,000 50,000
Amounts advanced 25,000 -
Amounts repaid (30,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 45,000 50,000

P T Atkinson
Balance outstanding at start of year - -
Amounts advanced 108 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 108 -