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Registered number: 11885421
TJEC LIMITED
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11885421
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 171,270 82,761
171,270 82,761
CURRENT ASSETS
Stocks 5 35,000 20,058
Debtors 6 134,577 176,266
Cash at bank and in hand 102,545 192,186
272,122 388,510
Creditors: Amounts Falling Due Within One Year 7 (113,640 ) (238,014 )
NET CURRENT ASSETS (LIABILITIES) 158,482 150,496
TOTAL ASSETS LESS CURRENT LIABILITIES 329,752 233,257
Creditors: Amounts Falling Due After More Than One Year 8 (30,109 ) (50,936 )
NET ASSETS 299,643 182,321
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 299,543 182,221
SHAREHOLDERS' FUNDS 299,643 182,321
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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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 TUDOR JONES
Director
30/06/2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
TJEC LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 11885421 . The registered office is Dremddu Fawr, Creuddyn Bridge, Lampeter, Ceredigion, SA48 8BL.
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 invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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%
Motor Vehicles 25%
Fixtures & Fittings 15%
Computer Equipment 15%
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 7)
7 7
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4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 57,266 70,079 6,833 134,178
Additions 123,291 - - 123,291
As at 31 March 2024 180,557 70,079 6,833 257,469
Depreciation
As at 1 April 2023 18,129 31,341 1,947 51,417
Provided during the period 24,364 9,685 733 34,782
As at 31 March 2024 42,493 41,026 2,680 86,199
Net Book Value
As at 31 March 2024 138,064 29,053 4,153 171,270
As at 1 April 2023 39,137 38,738 4,886 82,761
5. Stocks
2024 2023
£ £
Materials 35,000 20,058
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 134,577 176,266
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 31,851 144,349
Bank loans and overdrafts 30,316 -
Corporation tax 22,295 17,151
Other taxes and social security 4,028 31,742
VAT 22,686 28,772
Accruals and deferred income 1,964 2,271
Director's loan account 500 13,729
113,640 238,014
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 7,670 18,566
Bank loans 22,439 32,370
30,109 50,936
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9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years 7,670 18,566
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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