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Registration number: 01833734

Threadfast Engineers (1984) Limited

Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Threadfast Engineers (1984) Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 6

 

Threadfast Engineers (1984) Limited

(Registration number: 01833734)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

136,012

139,565

Current assets

 

Stocks

90,326

99,568

Debtors

5

48,902

81,009

Cash at bank and in hand

 

194,837

171,802

 

334,065

352,379

Creditors: Amounts falling due within one year

6

(79,609)

(110,508)

Net current assets

 

254,456

241,871

Total assets less current liabilities

 

390,468

381,436

Provisions for liabilities

(25,221)

(25,916)

Net assets

 

365,247

355,520

Capital and reserves

 

Called up share capital

100

100

Other reserve

98,686

98,686

Retained earnings

266,461

256,734

Shareholders' funds

 

365,247

355,520

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Threadfast Engineers (1984) Limited

(Registration number: 01833734)
Balance Sheet as at 30 September 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 14 January 2025 and signed on its behalf by:
 

.........................................
Mr A H Heeley
Director

 

Threadfast Engineers (1984) Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales..

The address of its registered office is:
Royle Street
Congleton
Cheshire
CW12 1HR

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Revenue recognition

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

 

Threadfast Engineers (1984) Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

not depreciated

Furniture, fittings and equipment

15% reducing balance / 20% straight line

Motor vehicles

25% reducing balance

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 7).

 

Threadfast Engineers (1984) Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

125,000

55,275

29,098

209,373

Additions

-

121

-

121

At 30 September 2024

125,000

55,396

29,098

209,494

Depreciation

At 1 October 2023

-

52,986

16,822

69,808

Charge for the year

-

605

3,069

3,674

At 30 September 2024

-

53,591

19,891

73,482

Carrying amount

At 30 September 2024

125,000

1,805

9,207

136,012

At 30 September 2023

125,000

2,289

12,276

139,565

5

Debtors

Current

2024
£

2023
£

Trade debtors

43,813

76,110

Prepayments

5,089

4,899

 

48,902

81,009

 

Threadfast Engineers (1984) Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

 

Hire purchase

-

3,097

Trade creditors

 

56,509

85,807

Taxation and social security

 

9,432

9,602

Other creditors

 

13,668

12,002

 

79,609

110,508