Registered number
12081116
T B Auto Electrics Ltd
Filleted Accounts
31 July 2024
T B Auto Electrics Ltd
Registered number: 12081116
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 9,021 2,450
Current assets
Stocks 5,000 5,000
Debtors 4 22,691 14,668
Cash at bank and in hand 20,286 32,542
47,977 52,210
Creditors: amounts falling due within one year 5 (32,537) (32,754)
Net current assets 15,440 19,456
Total assets less current liabilities 24,461 21,906
Creditors: amounts falling due after more than one year 6 (10,163) (14,141)
Net assets 14,298 7,765
Capital and reserves
Called up share capital 100 100
Profit and loss account 14,198 7,665
Shareholder's funds 14,298 7,765
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T Barlow
Director
Approved by the board on 3 December 2024
T B Auto Electrics Ltd
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2023 4,900 - 4,900
Additions - 10,395 10,395
At 31 July 2024 4,900 10,395 15,295
Depreciation
At 1 August 2023 2,450 - 2,450
Charge for the year 1,225 2,599 3,824
At 31 July 2024 3,675 2,599 6,274
Net book value
At 31 July 2024 1,225 7,796 9,021
At 31 July 2023 2,450 - 2,450
4 Debtors 2024 2023
£ £
Trade debtors 22,691 14,668
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 6 754
Trade creditors 3,150 3,150
Taxation and social security costs 3,993 5,441
Other creditors 25,388 23,409
32,537 32,754
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 10,163 14,141
7 Other information
T B Auto Electrics Ltd is a private company limited by shares and incorporated in England. Its registered office is:
6 The Vales
Oxenhope
Keighley
West Yorkshire
BD22 9LW
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