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REGISTERED NUMBER: 07629564 (England and Wales)















THANET ENGINE CENTRE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






THANET ENGINE CENTRE LTD (REGISTERED NUMBER: 07629564)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THANET ENGINE CENTRE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Mr A S May
Mrs B C May
Mr A J May
Mr L J May





REGISTERED OFFICE: 424 Margate Road
Westwood
Ramsgate
Kent
CT12 6SJ





REGISTERED NUMBER: 07629564 (England and Wales)





ACCOUNTANTS: Spurling Cannon
Chartered Certified Accountants
424 Margate Road
Westwood
Ramsgate
Kent
CT12 6SJ

THANET ENGINE CENTRE LTD (REGISTERED NUMBER: 07629564)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 53,161 62,464

CURRENT ASSETS
Stocks 5 1,550 1,485
Debtors 6 2,036 2,006
Cash at bank and in hand 61,344 65,663
64,930 69,154
CREDITORS
Amounts falling due within one year 7 83,507 99,355
NET CURRENT LIABILITIES (18,577 ) (30,201 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

34,584

32,263

CREDITORS
Amounts falling due after more than one
year

8

-

3,535
NET ASSETS 34,584 28,728

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 33,584 27,728
SHAREHOLDERS' FUNDS 34,584 28,728

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

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

THANET ENGINE CENTRE LTD (REGISTERED NUMBER: 07629564)

BALANCE SHEET - continued
31 MAY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2024 and were signed on its behalf by:





Mr A S May - Director


THANET ENGINE CENTRE LTD (REGISTERED NUMBER: 07629564)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Thanet Engine Centre Ltd 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.

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 - 15% on reducing balance
Fixture & Fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 13 ) .

THANET ENGINE CENTRE LTD (REGISTERED NUMBER: 07629564)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. TANGIBLE FIXED ASSETS
Plant and Fixture & Motor Computer
machinery Fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 162,380 900 1,000 749 165,029
Additions - - - 130 130
At 31 May 2024 162,380 900 1,000 879 165,159
DEPRECIATION
At 1 June 2023 100,359 773 1,000 433 102,565
Charge for year 9,303 19 - 111 9,433
At 31 May 2024 109,662 792 1,000 544 111,998
NET BOOK VALUE
At 31 May 2024 52,718 108 - 335 53,161
At 31 May 2023 62,021 127 - 316 62,464

5. STOCKS
2024 2023
£    £   
Stocks 1,550 1,485

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 43 126
Other debtors 1,993 1,880
2,036 2,006

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 23,305 35,824
Trade creditors 20,791 28,367
Taxation and social security 32,062 27,758
Other creditors 7,349 7,406
83,507 99,355

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 3,535