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REGISTERED NUMBER: 01672152 (England and Wales)











Trailer Engineering Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






Trailer Engineering Limited (Registered number: 01672152)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Trailer Engineering Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: N Hampson
R D Swift
Mr S R Swift





SECRETARY: R D Swift





REGISTERED OFFICE: Sterling House
97 Lichfield Street
Tamworth
Staffordshire
B79 7GF





REGISTERED NUMBER: 01672152 (England and Wales)





ACCOUNTANTS: Haines Watts Tamworth Limited
Sterling House
97 Lichfield Street
Tamworth
Staffordshire
B79 7QF

Trailer Engineering Limited (Registered number: 01672152)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 101,959 75,821
101,959 75,821

CURRENT ASSETS
Stocks 158,629 123,000
Debtors 6 483,200 561,966
Cash at bank 245,174 365,425
887,003 1,050,391
CREDITORS
Amounts falling due within one year 7 478,994 663,013
NET CURRENT ASSETS 408,009 387,378
TOTAL ASSETS LESS CURRENT
LIABILITIES

509,968

463,199

CREDITORS
Amounts falling due after more than one year 8 (57,369 ) -

PROVISIONS FOR LIABILITIES 10 (17,994 ) (8,644 )
NET ASSETS 434,605 454,555

CAPITAL AND RESERVES
Called up share capital 125 125
Retained earnings 434,480 454,430
SHAREHOLDERS' FUNDS 434,605 454,555

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 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.

Trailer Engineering Limited (Registered number: 01672152)

Statement of Financial Position - 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2024 and were signed on its behalf by:





N Hampson - Director


Trailer Engineering Limited (Registered number: 01672152)

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


1. STATUTORY INFORMATION

Trailer Engineering 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
In the application of the company's accounting policies, the directors are required to make judgement, estimates and assumptions about carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of revision ad future periods where the revision affects both current and future periods.

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

Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful life of 10 years.

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.

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 - 10% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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

Financial instruments
Debtors

Short-term debtors are measured at transaction price, less any impairment.

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank
loans, are measured initially at fair value, net of transaction costs, and are measured subsequently
at amortised cost using the effective interest method.


Trailer Engineering Limited (Registered number: 01672152)

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 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.

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 10 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 40,540
AMORTISATION
At 1 April 2023
and 31 March 2024 40,540
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

Trailer Engineering Limited (Registered number: 01672152)

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


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 179,411
Additions 45,424
Disposals (24,289 )
At 31 March 2024 200,546
DEPRECIATION
At 1 April 2023 103,590
Charge for year 9,039
Eliminated on disposal (14,042 )
At 31 March 2024 98,587
NET BOOK VALUE
At 31 March 2024 101,959
At 31 March 2023 75,821

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 460,337 542,705
Other debtors 22,863 19,261
483,200 561,966

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 55,710 151,577
Trade creditors 323,218 424,103
Taxation and social security 97,541 83,148
Other creditors 2,525 4,185
478,994 663,013

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 57,369 -

Trailer Engineering Limited (Registered number: 01672152)

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


9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 12,710 208
Bank loans 43,000 151,369
55,710 151,577

Amounts falling due between one and two years:
Debentures - 1-2 years 57,369 -

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 17,994 8,644

Deferred
tax
£   
Balance at 1 April 2023 8,644
Provided during year 9,350
Balance at 31 March 2024 17,994

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
R D Swift
Balance outstanding at start of year (890 ) (5 )
Amounts advanced 95,340 95,115
Amounts repaid (94,500 ) (96,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (50 ) (890 )

Mr S R Swift
Balance outstanding at start of year (137 ) (342 )
Amounts advanced 84,210 84,205
Amounts repaid (84,100 ) (84,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (27 ) (137 )

Trailer Engineering Limited (Registered number: 01672152)

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


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

N Hampson
Balance outstanding at start of year (837 ) (42 )
Amounts advanced 84,210 84,205
Amounts repaid (83,500 ) (85,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (127 ) (837 )

The loans made are interest free and repayable on demand.