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Registered number: 01610853
TEU Limited
Financial Statements
For The Year Ended 31 March 2024
Stubbs Parkin
55 Hoghton Street
Southport
Merseyside
PR9 0PG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 01610853
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 300,064 316,152
300,064 316,152
CURRENT ASSETS
Debtors 5 103,345 84,906
Cash at bank and in hand 324,648 225,114
427,993 310,020
Creditors: Amounts Falling Due Within One Year 6 (105,850 ) (49,322 )
NET CURRENT ASSETS (LIABILITIES) 322,143 260,698
TOTAL ASSETS LESS CURRENT LIABILITIES 622,207 576,850
NET ASSETS 622,207 576,850
CAPITAL AND RESERVES
Called up share capital 7 10,100 10,100
Profit and Loss Account 612,107 566,750
SHAREHOLDERS' FUNDS 622,207 576,850
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr R W Lough
Director
7th November 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
TEU Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01610853 . The registered office is 55 Hoghton Street, Southport, Merseyside, PR9 0PG. The company's functional and presentational currency is GBP and no level of rounding has been used in the preparation of the financial statements.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
2.4. Taxation
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
Page 3
Page 4
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 April 2023 66,000 557,637 145,187 46,960 815,784
Additions - 37,425 - 1,040 38,465
Disposals - (18,873 ) - (493 ) (19,366 )
As at 31 March 2024 66,000 576,189 145,187 47,507 834,883
Depreciation
As at 1 April 2023 - 358,613 100,529 40,490 499,632
Provided during the period - 34,302 11,165 1,073 46,540
Disposals - (11,216 ) - (137 ) (11,353 )
As at 31 March 2024 - 381,699 111,694 41,426 534,819
Net Book Value
As at 31 March 2024 66,000 194,490 33,493 6,081 300,064
As at 1 April 2023 66,000 199,024 44,658 6,470 316,152
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 99,080 78,670
Other debtors 4,265 6,236
103,345 84,906
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 12,375 4,494
Other creditors 11,142 11,213
Taxation and social security 82,333 33,615
105,850 49,322
Page 4
Page 5
7. Share Capital
2024 2023
Allotted, called up and fully paid £ £
10,000 Ordinary Shares of £ 1.00 each 10,000 10,000
100 Ordinary A shares of £ 1.00 each 100 100
10,100 10,100
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