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REGISTERED NUMBER: 07613453 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2024

for

TP Electrical Supplies & Fixings Limited

TP Electrical Supplies & Fixings Limited (Registered number: 07613453)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TP Electrical Supplies & Fixings Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: P A Curtis





REGISTERED OFFICE: 20f Beehive Workshops
Dragonville Industrial Estate
Durham
DH1 2XL





REGISTERED NUMBER: 07613453 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
Kepier House
Belmont Business Park
Durham
DH1 1TW

TP Electrical Supplies & Fixings Limited (Registered number: 07613453)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 21,963 29,535
21,963 29,535

CURRENT ASSETS
Stocks 83,826 75,600
Debtors 6 972,907 556,172
Cash at bank 54,503 136,338
1,111,236 768,110
CREDITORS
Amounts falling due within one year 7 1,007,692 748,552
NET CURRENT ASSETS 103,544 19,558
TOTAL ASSETS LESS CURRENT
LIABILITIES

125,507

49,093

CREDITORS
Amounts falling due after more than one
year

8

(28,751

)

(37,741

)

PROVISIONS FOR LIABILITIES 11 (5,460 ) (6,791 )
NET ASSETS 91,296 4,561

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 91,196 4,461
SHAREHOLDERS' FUNDS 91,296 4,561

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

TP Electrical Supplies & Fixings Limited (Registered number: 07613453)

Balance Sheet - continued
31 March 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 June 2024 and were signed by:





P A Curtis - Director


TP Electrical Supplies & Fixings Limited (Registered number: 07613453)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

TP Electrical Supplies & Fixings 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue recognition
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Computer software is being amortised evenly over its estimated useful life of five years.

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.
Improvements to property - 25% on cost
Motor vehicles - 25% on reducing balance
Fixtures, fittings and equipment - 25% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and impairment.

Government Grants
Capital based grants are credited to the profit and loss account in equal instalments, over the estimated useful life of the related asset.
Revenue based grants are credited to the profit and loss account on receipt.

Stocks
Stocks are valued at the lower of cost and selling price less estimated costs to sell, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit and loss.


TP Electrical Supplies & Fixings Limited (Registered number: 07613453)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

Invoice discounting facility
The invoice discounting facility represents amounts received in respect of financed debts. There is full recourse to the company for losses on debts, and so the financed debts continue to be recognised on the balance sheet. Interest and other charges relating to invoice financing are recognised in the profit and loss account over the relevant period.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

TP Electrical Supplies & Fixings Limited (Registered number: 07613453)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 April 2023
and 31 March 2024 6,120
AMORTISATION
At 1 April 2023
and 31 March 2024 6,120
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures,
Improvements fittings
to Motor and
property vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 10,940 53,032 16,869 80,841
DEPRECIATION
At 1 April 2023 10,940 24,326 16,040 51,306
Charge for year - 7,177 395 7,572
At 31 March 2024 10,940 31,503 16,435 58,878
NET BOOK VALUE
At 31 March 2024 - 21,529 434 21,963
At 31 March 2023 - 28,706 829 29,535

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023
and 31 March 2024 27,012
DEPRECIATION
At 1 April 2023 16,804
Charge for year 2,552
At 31 March 2024 19,356
NET BOOK VALUE
At 31 March 2024 7,656
At 31 March 2023 10,208

TP Electrical Supplies & Fixings Limited (Registered number: 07613453)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 970,697 553,840
Other debtors 1,210 1,332
Prepayments and accrued income 1,000 1,000
972,907 556,172

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,520 5,530
Hire purchase contracts (see note 9) 3,437 4,943
Other creditors 796 633
Trade creditors 183,703 155,223
Taxation and social security 160,393 92,234
Factoring creditor 649,862 486,651
Directors' current accounts 719 76
Accruals and deferred income 3,262 3,262
1,007,692 748,552

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 5,508 5,519
Bank loans - 2-5 years 16,449 16,484
Bank loans more than 5 years 6,794 12,299
Hire purchase contracts (see note 9) - 3,439
28,751 37,741

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 6,794 12,299

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 3,437 4,943
Between one and five years - 3,439
3,437 8,382

TP Electrical Supplies & Fixings Limited (Registered number: 07613453)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 17,418 5,627
Between one and five years 12,865 1,980
30,283 7,607

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 3,437 8,382
Factoring creditor 649,862 486,651
653,299 495,033

Hire purchase contracts are secured on the assets to which they relate.

Factoring creditor is secured via fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant & machinery.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 5,460 6,791

Deferred
tax
£   
Balance at 1 April 2023 6,791
Accelerated capital allowances (1,331 )
Balance at 31 March 2024 5,460

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
50 Ordinary £1 50 50
50 A Ordinary £1 50 50
100 100

13. RELATED PARTY DISCLOSURES

There were no related party transactions other than those concluded under normal market conditions, except for those shown below.

TP Electrical Supplies & Fixings Limited (Registered number: 07613453)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

13. RELATED PARTY DISCLOSURES - continued

2024 2023
£ £
Amounts due to directors 719 76
Amounts due to shareholders 604 32

No interest has been charged.