Registered number
08681173
Taranis Engineering Limited
Filleted Accounts
30 September 2024
Taranis Engineering Limited
Registered number: 08681173
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 297,558 274,708
Current assets
Stocks 3,000 4,485
Debtors 4 2,035,021 2,142,676
Cash at bank and in hand 966,974 636,132
3,004,995 2,783,293
Creditors: amounts falling due within one year 5 (2,014,102) (2,053,956)
Net current assets 990,893 729,337
Total assets less current liabilities 1,288,451 1,004,045
Creditors: amounts falling due after more than one year 6 (84,394) (126,766)
Provisions for liabilities (71,848) (65,823)
Net assets 1,132,209 811,456
Capital and reserves
Called up share capital 1,000 1,000
Share premium 216,630 216,630
Revaluation reserve 7 43 43
Profit and loss account 914,536 593,783
Shareholders' funds 1,132,209 811,456
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Alexzander Bond
Director
Approved by the board on 8 January 2025
Taranis Engineering Limited
Notes to the Accounts
for the year ended 30 September 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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over 5 years
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Motor vehicles over 5 years
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.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 26 28
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 October 2023 63,382 69,474 266,937 399,793
Additions 43,743 20,383 74,419 138,545
Disposals (31,811) (1,625) (57,683) (91,119)
At 30 September 2024 75,314 88,232 283,673 447,219
Depreciation
At 1 October 2023 25,109 31,852 68,124 125,085
Charge for the year 14,962 10,740 51,052 76,754
On disposals (23,608) (900) (27,670) (52,178)
At 30 September 2024 16,463 41,692 91,506 149,661
Net book value
At 30 September 2024 58,851 46,540 192,167 297,558
At 30 September 2023 38,273 37,622 198,813 274,708
4 Debtors 2024 2023
£ £
Trade debtors 1,786,620 1,865,222
Other debtors 248,401 277,454
2,035,021 2,142,676
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 68,413 65,439
Trade creditors 1,187,790 1,245,605
Taxation and social security costs 255,099 194,312
Other creditors 502,800 548,600
2,014,102 2,053,956
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 84,394 126,766
7 Revaluation reserve 2024 2023
£ £
At 1 October 2023 43 43
At 30 September 2024 43 43
8 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 308,914 24,250
9 Controlling party
Following a management buy out in May 2019, the company is a wholly owned subsidiary of Taranis Air Conditioning Limited which is a private company limited by shares and incorporated in England (registered number 08681194) . Its registered office is Unit 8 Farleigh Court, Flax Bourton, Bristol, BS48 1UR.
10 Other information
Taranis Engineering Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 8 Farleigh Court
Old Weston Road
Flax Bourton
Bristol
BS48 1UR
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