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REGISTERED NUMBER: 11957551 (England and Wales)

















TSW Electrical Ltd

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024






TSW Electrical Ltd (Registered number: 11957551)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TSW Electrical Ltd

COMPANY INFORMATION
for the Year Ended 30 April 2024







DIRECTORS: Mr T S Walker
Miss C J Wilkinson





REGISTERED OFFICE: 3 Churchill Avenue
Burstwick
Hull
HU12 9HF





REGISTERED NUMBER: 11957551 (England and Wales)





ACCOUNTANTS: Southgates
Chartered Certified Accountants
9 Market Place
Hedon
East Yorkshire
HU12 8JA

TSW Electrical Ltd (Registered number: 11957551)

BALANCE SHEET
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,465 4,590

CURRENT ASSETS
Debtors 5 6,025 34,813
Cash at bank 44,415 15,260
50,440 50,073
CREDITORS
Amounts falling due within one year 6 20,805 16,766
NET CURRENT ASSETS 29,635 33,307
TOTAL ASSETS LESS CURRENT
LIABILITIES

34,100

37,897

CREDITORS
Amounts falling due after more than one
year

7

(29,338

)

(37,024

)

PROVISIONS FOR LIABILITIES 8 (893 ) (872 )
NET ASSETS 3,869 1

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 3,868 -
SHAREHOLDERS' FUNDS 3,869 1

TSW Electrical Ltd (Registered number: 11957551)

BALANCE SHEET - continued
30 April 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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 Board of Directors and authorised for issue on 18 October 2024 and were signed on its behalf by:





Mr T S Walker - Director


TSW Electrical Ltd (Registered number: 11957551)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

TSW Electrical 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

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.

TSW Electrical Ltd (Registered number: 11957551)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2023 3,525 7,454 1,062 12,041
Additions 1,063 - 299 1,362
At 30 April 2024 4,588 7,454 1,361 13,403
DEPRECIATION
At 1 May 2023 1,710 5,096 645 7,451
Charge for year 719 589 179 1,487
At 30 April 2024 2,429 5,685 824 8,938
NET BOOK VALUE
At 30 April 2024 2,159 1,769 537 4,465
At 30 April 2023 1,815 2,358 417 4,590

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2023
and 30 April 2024 7,454
DEPRECIATION
At 1 May 2023 5,096
Charge for year 589
At 30 April 2024 5,685
NET BOOK VALUE
At 30 April 2024 1,769
At 30 April 2023 2,358

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5,148 1,739
Other debtors - 25,617
Directors' current accounts - 6,617
Prepayments 877 840
6,025 34,813

TSW Electrical Ltd (Registered number: 11957551)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,771 4,809
Hire purchase contracts 952 1,272
Tax 11,188 9,470
Credit card 1,571 -
Accruals 1,323 1,215
20,805 16,766

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 5,771 5,697
Bank loans - 2-5 years 17,314 17,082
Bank loans more 5 yr by instal 6,253 13,293
Hire purchase contracts - 952
29,338 37,024

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 6,253 13,293

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 893 872

Deferred
tax
£   
Balance at 1 May 2023 872
Provided during year 21
Balance at 30 April 2024 893

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
Mr T S Walker
Balance outstanding at start of year 6,617 12,521
Amounts advanced - 6,617
Amounts repaid (6,617 ) (12,521 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 6,617

The overdrawn balance on the Director's current account was repaid by 1st August 2023.