Registration number:
Tucker Mechanical and Electrical Building Services Ltd
for the Year Ended 31 January 2024
Tucker Mechanical and Electrical Building Services Ltd
Contents
Company Information |
|
Strategic Report |
|
Directors' Report |
|
Statement of Directors' Responsibilities |
|
Independent Auditor's Report |
|
Profit and Loss Account |
|
Balance Sheet |
|
Statement of Changes in Equity |
|
Notes to the Financial Statements |
Tucker Mechanical and Electrical Building Services Ltd
Company Information
Directors |
Mr N D Munt Mr M Snape Mrs J Snape |
Registered office |
|
Auditors |
|
Tucker Mechanical and Electrical Building Services Ltd
Strategic Report for the Year Ended 31 January 2024
The directors present their strategic report for the year ended 31 January 2024.
Principal activity
The principal activity of the company is is that of mechanical service contractors and sheet metal manufacturing engineers.
Fair review of the business
The Company provides design, supply and installation services as a mechanical and electrical subcontractor through the UK and continues to maintain good working relationships with all its major suppliers and customers old and new.
The Directors were encouraged with the trading performance during the current financial year which was still affected by fluctuating inflation, high interest rates and challenging trading conditions in the construction sector.
The Company's order book and pipeline provide the Directors with confidence for 2024 and beyond together and are committed with the on-going investment in the skilled workforce to meet the expectations of the customers.
The company's key financial and other performance indicators during the year were as follows:
Financial KPIs |
Unit |
2024 |
2023 |
Profit/(Loss) before tax for the financial year |
£ |
239,654 |
309,850 |
Gross Profit |
% |
11 |
9 |
Current ratio |
2 |
1 |
|
Asset ratio |
2 |
1 |
Principal risks and uncertainties
The sector the company operates within remains competitive. Fluctuating inflation and high interest rates continue to have an impact on the construction sector.
Approved and authorised by the
......................................... |
Tucker Mechanical and Electrical Building Services Ltd
Directors' Report for the Year Ended 31 January 2024
The directors present their report and the financial statements for the year ended 31 January 2024.
Directors of the company
The directors who held office during the year were as follows:
Financial instruments
Objectives and policies
The companies principal financial instruments comprise bank balances, trade debtors and trade creditors. The main purpose of these instruments is to raise funds for the company's operations and to finance the company's working capital.
Price risk, credit risk, liquidity risk and cash flow risk
Price risk
The company operates in a competitive market. Good relationships are maintained with our suppliers and partners to secure competitive prices.
Credit risk
The company manages credit risk by regular reviews of the amount of credit and time limits offered to customers.
The company also regularly monitors the amounts owed by customers to minimise its exposure to bad debts and measures are taken to collectpayments during the time span of the individual projects.
Liquidity risk
The company's liquidity risk is managed by ensuring sufficient funds are available to meet its liabilities as they fall due for payment. The Directors do not consider that liquidity poses a significant risk.
Disclosure of information to the auditors
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Reappointment of auditors
In accordance with section 485 of the Companies Act 2006, a resolution for the re-appointment of Cameron, Ferriby & Co as auditors of the company is to be proposed at the forthcoming Annual General Meeting.
Approved and authorised by the
......................................... |
Tucker Mechanical and Electrical Building Services Ltd
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
• |
select suitable accounting policies and apply them consistently; |
• |
make judgements and accounting estimates that are reasonable and prudent; |
• |
state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
• |
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Tucker Mechanical and Electrical Building Services Ltd
Independent Auditor's Report to the Members of Tucker Mechanical and Electrical Building Services Ltd
Opinion
We have audited the financial statements of Tucker Mechanical and Electrical Building Services Ltd (the 'company') for the year ended 31 January 2024, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 31 January 2024 and of its profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
• |
the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
• |
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Tucker Mechanical and Electrical Building Services Ltd
Independent Auditor's Report to the Members of Tucker Mechanical and Electrical Building Services Ltd
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors' remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities [set out on page 4], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
As part of designing our audit:
We obtained an understanding of laws and regulations that affect the company and the industry in which it operates, including the Companies Act 2006, tax legislation, employment legislation, data protection and health and safety legislation.
We made enquiries of management with regards to compliance with the above laws and regulations and corroborated any necessary evidence to relevant information.
In response to the risk of irregularities and non-compliance with laws and regulations, we enquired with management as to any actual or potential litigations claims, reviewed correspondence with HMRC, relevant regulators and the companies’ legal advisors, and agreed financial statement disclosures to underlying documentation.
We determined materiality and assessed the risks of material misstatement in the financial statements. We looked at where management made subjective judgements, for example in respect of significant accounting estimates that involved making assumptions and considering future events that are inherently uncertain.
We gained an understanding of the controls that the directors have in place to prevent and detect fraud and enquired of any instances of fraud that had taken place during the period. In assessing the risk of fraud due to management override of internal controls, we tested the appropriateness of journal entries, performed analytical procedures, and assessed whether judgements made in accounting estimates were indicative of potential bias.
Tucker Mechanical and Electrical Building Services Ltd
Independent Auditor's Report to the Members of Tucker Mechanical and Electrical Building Services Ltd
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
......................................
For and on behalf of
Bridge House
41 Wincolmlee
East Yorkshire
HU2 8AG
Tucker Mechanical and Electrical Building Services Ltd
Profit and Loss Account for the Year Ended 31 January 2024
Note |
2024 |
2023 |
|
Turnover |
|
|
|
Cost of sales |
( |
( |
|
Gross profit |
|
|
|
Administrative expenses |
( |
( |
|
Operating profit |
259,962 |
323,184 |
|
Other interest receivable and similar income |
|
|
|
Interest payable and similar expenses |
( |
( |
|
(20,308) |
(13,334) |
||
Profit before tax |
|
|
|
Tax on profit |
|
|
|
Profit for the financial year |
|
|
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Tucker Mechanical and Electrical Building Services Ltd
(Registration number: 03695967)
Balance Sheet as at 31 January 2024
Note |
2024 |
2023 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Current assets |
|||
Stocks |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
200,000 |
200,000 |
|
Retained earnings |
3,294,001 |
2,917,412 |
|
Shareholders' funds |
3,494,001 |
3,117,412 |
Approved and authorised by the
......................................... |
Tucker Mechanical and Electrical Building Services Ltd
Statement of Changes in Equity for the Year Ended 31 January 2024
Share capital |
Retained earnings |
Total |
|
At 1 February 2023 |
|
|
|
Profit for the year |
- |
|
|
Dividends |
- |
( |
( |
At 31 January 2024 |
|
|
|
Share capital |
Retained earnings |
Total |
|
At 1 February 2022 |
|
|
|
Profit for the year |
- |
|
|
Dividends |
- |
( |
( |
At 31 January 2023 |
200,000 |
2,917,412 |
3,117,412 |
Tucker Mechanical and Electrical Building Services Ltd
Notes to the Financial Statements for the Year Ended 31 January 2024
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The current management information, when compared to the year under review, disclose a significant improvement in the company's trading performance, excellent levels of sales growth and contract enquiries. The Company remains positive, even though the economic outlook is uncertain, and is well placed to manage business risks successfully.
Accordingly, they have reasonable expectations that the Company have adequate resources, liquidity and banking facilities to continue in operational existence for the foreseeable future.
Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements.
Tucker Mechanical and Electrical Building Services Ltd
Notes to the Financial Statements for the Year Ended 31 January 2024
Judgements
The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenue and expenses during the year. However, the nature of the estimation means the actual outcomes could differ from those estimates. |
The following judgement (apart from those involving estimates) have had the most significant impact on amounts recognised in the financial statements. |
The percentage of completion method and the determination of revenues to recognise contract claims and variations are reliant on estimates in particlar regarding future expected costs and revenues. The Company regularly reviews the appropriateness of these assumptions. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Contract revenue recognition
Contract revenue includes the initial agreed contract price plus any variations to the contract, claims and incentive payments to the extent that it is probable that they will result in revenue and are capable of being reliably measured.
When the outcome of a construction contract can be estimated reliably, contract revenue and costs are recognised by reference to the stage of completion at the balance sheet date. The stage of completion is assessed by reference to the proportion that contract costs incurred for work performed to date bear to the estimated total contract costs
When the outcome of a construction contract cannot be estimated reliably contract revenue is recognised to the extent of costs incurred which are likely to be recoverable.
When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tucker Mechanical and Electrical Building Services Ltd
Notes to the Financial Statements for the Year Ended 31 January 2024
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Short Leasehold |
Straight line over life of the lease |
Plant and equipment |
12.5% and 15% reducing balance |
Fixtures, fittings and equipment |
20 % reducing balance |
Motor vehicles |
15% reducing balance |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Tucker Mechanical and Electrical Building Services Ltd
Notes to the Financial Statements for the Year Ended 31 January 2024
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Tucker Mechanical and Electrical Building Services Ltd
Notes to the Financial Statements for the Year Ended 31 January 2024
Turnover |
The analysis of the company's Turnover for the year from continuing operations is as follows:
2024 |
2023 |
|
Sale of goods |
|
|
Other gains and losses |
The analysis of the company's other gains and losses for the year is as follows:
2024 |
2023 |
|
Loss on disposal of Tangible assets |
( |
( |
Operating profit |
Arrived at after charging/(crediting)
2024 |
2023 |
|
Depreciation expense |
|
|
Operating lease expense - plant and machinery |
|
|
Loss on disposal of property, plant and equipment |
|
|
Other interest receivable and similar income |
2024 |
2023 |
|
Interest income on bank deposits |
|
|
Interest payable and similar expenses |
2024 |
2023 |
|
Interest on bank overdrafts and borrowings |
|
|
Interest on obligations under finance leases and hire purchase contracts |
|
- |
|
|
Tucker Mechanical and Electrical Building Services Ltd
Notes to the Financial Statements for the Year Ended 31 January 2024
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
2024 |
2023 |
|
Wages and salaries |
|
|
Social security costs |
|
|
Pension costs, defined contribution scheme |
|
|
Other employee expense |
|
|
|
|
The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
2024 |
2023 |
|
Production |
|
|
Administration and support |
|
|
|
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
2024 |
2023 |
|
Remuneration |
|
|
Contributions paid to money purchase schemes |
|
|
314,148 |
273,687 |
During the year the number of directors who were receiving benefits and share incentives was as follows:
2024 |
2023 |
|
Accruing benefits under money purchase pension scheme |
|
|
In respect of the highest paid director:
2024 |
2023 |
|
Remuneration |
|
|
Company contributions to money purchase pension schemes |
|
|
Auditors' remuneration |
2024 |
2023 |
|
Audit of the financial statements |
|
|
Tucker Mechanical and Electrical Building Services Ltd
Notes to the Financial Statements for the Year Ended 31 January 2024
Taxation |
Tax charged/(credited) in the profit and loss account
2024 |
2023 |
|
Current taxation |
||
UK corporation tax |
( |
- |
Deferred taxation |
||
Arising from origination and reversal of timing differences |
|
( |
Tax receipt in the income statement |
( |
( |
The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2023 - the same as the standard rate of corporation tax in the UK) of
The differences are reconciled below:
2024 |
2023 |
|
Profit before tax |
|
|
Corporation tax at standard rate |
|
|
Tax increase/(decrease) from effect of capital allowances and depreciation |
|
( |
Tax increase/(decrease) from other short-term timing differences |
|
( |
Tax decrease from effect of unrelieved tax losses carried forward |
- |
( |
Tax decrease from effect of adjustment in research and development tax credit |
( |
- |
Tax (decrease)/increase from other tax effects |
( |
|
Total tax credit |
( |
( |
Deferred tax
Deferred tax assets and liabilities
2024 |
Asset |
Liability |
Deferred tax |
|
- |
|
- |
2023 |
Asset |
Liability |
Deferred tax |
|
- |
|
- |
Tucker Mechanical and Electrical Building Services Ltd
Notes to the Financial Statements for the Year Ended 31 January 2024
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Other property, plant and equipment |
Total |
|
Cost or valuation |
|||||
At 1 February 2023 |
|
|
|
|
|
Additions |
- |
|
- |
|
|
Disposals |
- |
- |
( |
- |
( |
At 31 January 2024 |
|
|
|
|
|
Depreciation |
|||||
At 1 February 2023 |
|
|
|
|
|
Charge for the year |
|
|
|
|
|
Eliminated on disposal |
- |
- |
( |
- |
( |
At 31 January 2024 |
|
|
|
|
|
Carrying amount |
|||||
At 31 January 2024 |
|
|
|
|
|
At 31 January 2023 |
|
|
|
|
|
Stocks |
2024 |
2023 |
|
Raw materials and consumables |
|
|
Work in progress |
|
|
|
|
Tucker Mechanical and Electrical Building Services Ltd
Notes to the Financial Statements for the Year Ended 31 January 2024
Debtors |
Current |
Note |
2024 |
2023 |
Trade debtors |
|
|
|
Amounts owed by related parties |
|
|
|
Other debtors |
|
|
|
Prepayments |
|
|
|
Deferred tax assets |
|
|
|
Income tax asset |
|
- |
|
|
|
Details of non-current trade and other debtors
£39,912 (2023 -£781,306) of Trade receivables is classified as non current.
Cash and cash equivalents |
2024 |
2023 |
|
Cash on hand |
|
|
Cash at bank |
|
|
Short-term deposits |
|
|
|
|
|
Bank overdrafts |
( |
- |
Cash and cash equivalents in statement of cash flows |
(362,861) |
1,194,386 |
Creditors |
Note |
2024 |
2023 |
|
Due within one year |
|||
Loans and borrowings |
|
|
|
Trade creditors |
|
|
|
Social security and other taxes |
|
|
|
Other payables |
|
|
|
Accruals |
|
|
|
Gross amount due to customers for contract work |
|
|
|
|
|
||
Due after one year |
|||
Loans and borrowings |
|
|
Deferred tax and other provisions |
Tucker Mechanical and Electrical Building Services Ltd
Notes to the Financial Statements for the Year Ended 31 January 2024
Deferred tax |
Total |
|
At 1 February 2023 |
( |
( |
Increase (decrease) in existing provisions |
|
|
At 31 January 2024 |
( |
( |
|
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
200,000 |
|
200,000 |
Loans and borrowings |
Non-current loans and borrowings
2024 |
2023 |
|
Bank borrowings |
|
|
Hire purchase contracts |
|
|
|
|
Current loans and borrowings
2024 |
2023 |
|
Bank borrowings |
|
|
Bank overdrafts |
|
- |
Hire purchase contracts |
|
|
Other borrowings |
|
|
|
|
Tucker Mechanical and Electrical Building Services Ltd
Notes to the Financial Statements for the Year Ended 31 January 2024
Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
2024 |
2023 |
|
Not later than one year |
|
|
Later than one year and not later than five years |
|
|
|
|
Related party transactions |
Transactions with directors |
2024 |
At 1 February 2023 |
Advances to director |
Repayments by director |
At 31 January 2024 |
Mr N D Munt |
||||
|
|
|
( |
|
Mr J M S Magee |
||||
|
|
|
|
|
Mrs J Snape |
||||
|
|
|
( |
|
2023 |
At 1 February 2022 |
Advances to director |
Repayments by director |
At 31 January 2023 |
Mr N D Munt |
||||
|
|
|
( |
|
Mr M Snape |
||||
|
|
|
( |
|
Mr J M S Magee |
||||
|
|
|
|
|
Mrs J Snape |
||||
|
|
|
( |
|
Tucker Mechanical and Electrical Building Services Ltd
Notes to the Financial Statements for the Year Ended 31 January 2024
Summary of transactions with parent
Summary of transactions with other related parties
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is