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REGISTERED NUMBER: 06376084 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2023

for

T W Weald Electrics Limited

T W Weald Electrics Limited (Registered number: 06376084)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


T W Weald Electrics Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: M Crunden





REGISTERED OFFICE: Shadwell House
65 Lower Green Road
Rusthall
Tunbridge Wells
Kent
TN4 8TW





REGISTERED NUMBER: 06376084 (England and Wales)





ACCOUNTANTS: Peter Hodgson & Co.
Chartered Accountants
Shadwell House
65 Lower Green Road
Tunbridge Wells
Kent
TN4 8TW

T W Weald Electrics Limited (Registered number: 06376084)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 5,936 7,446

CURRENT ASSETS
Inventories 7,268 500
Debtors 5 18,771 5,947
Cash at bank 34,006 57,351
60,045 63,798
CREDITORS
Amounts falling due within one year 6 10,805 6,139
NET CURRENT ASSETS 49,240 57,659
TOTAL ASSETS LESS CURRENT
LIABILITIES

55,176

65,105

PROVISIONS FOR LIABILITIES 7 1,128 1,415
NET ASSETS 54,048 63,690

CAPITAL AND RESERVES
Called up share capital 8 125 125
Retained earnings 9 53,923 63,565
SHAREHOLDERS' FUNDS 54,048 63,690

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 director acknowledges his 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.

T W Weald Electrics Limited (Registered number: 06376084)

Statement of Financial Position - 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 September 2024 and were signed by:





M Crunden - Director


T W Weald Electrics Limited (Registered number: 06376084)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

T W Weald Electrics 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.

Significant judgements and estimates
There are no significant judgments or estimates pertaining to these accounts.

Turnover
Revenue 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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

T W Weald Electrics Limited (Registered number: 06376084)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Functional currency
The company's functional currency is £ Sterling.

Financial instruments
Financial Instruments including cash and bank balances are disclosed at fair value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2023 3,145 36,161 39,306
Additions 470 - 470
At 31 December 2023 3,615 36,161 39,776
DEPRECIATION
At 1 January 2023 2,854 29,006 31,860
Charge for year 191 1,789 1,980
At 31 December 2023 3,045 30,795 33,840
NET BOOK VALUE
At 31 December 2023 570 5,366 5,936
At 31 December 2022 291 7,155 7,446

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,551 2,057
Other debtors 2,736 3,134
Directors' current accounts 14,484 -
VAT - 756
18,771 5,947

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 4,249 1,860
Tax 5,358 3,078
VAT 171 -
Directors' current accounts - 201
Accrued expenses 1,027 1,000
10,805 6,139

T W Weald Electrics Limited (Registered number: 06376084)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 1,128 1,415

Deferred
tax
£   
Balance at 1 January 2023 1,415
Provided during year (287 )
Accelerated capital allowances
Balance at 31 December 2023 1,128

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
125 Ordinary £1 125 125

9. RESERVES
Retained
earnings
£   

At 1 January 2023 63,565
Profit for the year 21,358
Dividends (31,000 )
At 31 December 2023 53,923