IRIS Accounts Production v24.2.0.383 03766036 Board of Directors 1.6.23 31.5.24 31.5.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh037660362023-05-31037660362024-05-31037660362023-06-012024-05-31037660362022-05-31037660362022-06-012023-05-31037660362023-05-3103766036ns15:EnglandWales2023-06-012024-05-3103766036ns14:PoundSterling2023-06-012024-05-3103766036ns10:Director12023-06-012024-05-3103766036ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3103766036ns10:SmallEntities2023-06-012024-05-3103766036ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3103766036ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3103766036ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3103766036ns10:FullAccounts2023-06-012024-05-3103766036ns10:OrdinaryShareClass12023-06-012024-05-3103766036ns10:Director22023-06-012024-05-3103766036ns10:RegisteredOffice2023-06-012024-05-3103766036ns5:CurrentFinancialInstruments2024-05-3103766036ns5:CurrentFinancialInstruments2023-05-3103766036ns5:Non-currentFinancialInstruments2024-05-3103766036ns5:Non-currentFinancialInstruments2023-05-3103766036ns5:ShareCapital2024-05-3103766036ns5:ShareCapital2023-05-3103766036ns5:RetainedEarningsAccumulatedLosses2024-05-3103766036ns5:RetainedEarningsAccumulatedLosses2023-05-3103766036ns5:LeaseholdImprovements2023-06-012024-05-3103766036ns5:PlantMachinery2023-06-012024-05-3103766036ns5:FurnitureFittings2023-06-012024-05-3103766036ns5:MotorVehicles2023-06-012024-05-3103766036ns5:LeaseholdImprovements2023-05-3103766036ns5:PlantMachinery2023-05-3103766036ns5:FurnitureFittings2023-05-3103766036ns5:MotorVehicles2023-05-3103766036ns5:LeaseholdImprovements2024-05-3103766036ns5:PlantMachinery2024-05-3103766036ns5:FurnitureFittings2024-05-3103766036ns5:MotorVehicles2024-05-3103766036ns5:LeaseholdImprovements2023-05-3103766036ns5:PlantMachinery2023-05-3103766036ns5:FurnitureFittings2023-05-3103766036ns5:MotorVehicles2023-05-3103766036ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-05-3103766036ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-06-012024-05-3103766036ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-05-3103766036ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-05-3103766036ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-3103766036ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-3103766036ns10:OrdinaryShareClass12024-05-31
REGISTERED NUMBER: 03766036 (England and Wales)








Unaudited Financial Statements for the Year Ended 31 May 2024

for

Tyne Tees Electrical
Contracting Limited

Tyne Tees Electrical
Contracting Limited (Registered number: 03766036)






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


Tyne Tees Electrical
Contracting Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: D P McMorrow
C S Smith





REGISTERED OFFICE: Unit 382G, Jedburgh Court
Team Valley
Gateshead
Tyne and Wear
NE11 0BQ





REGISTERED NUMBER: 03766036 (England and Wales)





ACCOUNTANTS: Inspire Chartered Accountants
6 Queens Court
Third Avenue
Team Valley
Gateshead
Tyne and Wear
NE11 0BU

Tyne Tees Electrical
Contracting Limited (Registered number: 03766036)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22,722 38,249

CURRENT ASSETS
Debtors 5 299,075 222,354
Cash at bank and in hand 256,989 558,533
556,064 780,887
CREDITORS
Amounts falling due within one year 6 198,267 186,593
NET CURRENT ASSETS 357,797 594,294
TOTAL ASSETS LESS CURRENT
LIABILITIES

380,519

632,543

CREDITORS
Amounts falling due after more than one
year

7

(2,515

)

(7,513

)

PROVISIONS FOR LIABILITIES (5,681 ) (9,761 )
NET ASSETS 372,323 615,269

Tyne Tees Electrical
Contracting Limited (Registered number: 03766036)

Balance Sheet - continued
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 372,223 615,169
SHAREHOLDERS' FUNDS 372,323 615,269

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.

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 30 September 2024 and were signed on its behalf by:





D P McMorrow - Director


Tyne Tees Electrical
Contracting Limited (Registered number: 03766036)

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

1. STATUTORY INFORMATION

Tyne Tees Electrical Contracting 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.

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.
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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.

Tyne Tees Electrical
Contracting Limited (Registered number: 03766036)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 June 2023 14,539 2,302 9,620 83,875 110,336
Additions - - 832 - 832
Disposals - - - (26,705 ) (26,705 )
At 31 May 2024 14,539 2,302 10,452 57,170 84,463
DEPRECIATION
At 1 June 2023 14,539 2,244 7,851 47,453 72,087
Charge for year - 8 380 7,771 8,159
Eliminated on disposal - - - (18,505 ) (18,505 )
At 31 May 2024 14,539 2,252 8,231 36,719 61,741
NET BOOK VALUE
At 31 May 2024 - 50 2,221 20,451 22,722
At 31 May 2023 - 58 1,769 36,422 38,249

Tyne Tees Electrical
Contracting Limited (Registered number: 03766036)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 June 2023 83,875
Disposals (26,705 )
Transfer to ownership (37,175 )
At 31 May 2024 19,995
DEPRECIATION
At 1 June 2023 47,453
Charge for year 7,771
Eliminated on disposal (18,505 )
Transfer to ownership (26,565 )
At 31 May 2024 10,154
NET BOOK VALUE
At 31 May 2024 9,841
At 31 May 2023 36,422

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 287,852 201,362
Other debtors 11,223 20,992
299,075 222,354

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 5,817 14,212
Trade creditors 127,141 82,200
Taxation and social security 60,937 85,936
Other creditors 4,372 4,245
198,267 186,593

Tyne Tees Electrical
Contracting Limited (Registered number: 03766036)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 2,515 7,513

8. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Hire purchase contracts 8,332 21,725

Hire purchase liability is secured against the assets to which they relate.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
100 Ordinary £1 100 100