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REGISTERED NUMBER: 02887155 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

TEN AUTOMOTIVE EQUIPMENT LTD

TEN AUTOMOTIVE EQUIPMENT LTD (REGISTERED NUMBER: 02887155)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TEN AUTOMOTIVE EQUIPMENT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: C Gostling





REGISTERED OFFICE: Unit 3 Lubeck Road
North Lynn Industrial Estate
Kings Lynn
Norfolk
PE30 2JE





REGISTERED NUMBER: 02887155 (England and Wales)





ACCOUNTANTS: Thompson Taraz Rand Ltd
Chartered Accountants
10 Jesus Lane
Cambridge
Cambridgeshire
CB5 8BA

TEN AUTOMOTIVE EQUIPMENT LTD (REGISTERED NUMBER: 02887155)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 47,034 57,173

CURRENT ASSETS
Stocks 93,751 89,653
Debtors 6 80,096 114,539
Cash at bank and in hand 66,093 52,800
239,940 256,992
CREDITORS
Amounts falling due within one year 7 (82,234 ) (127,600 )
NET CURRENT ASSETS 157,706 129,392
TOTAL ASSETS LESS CURRENT LIABILITIES 204,740 186,565

CREDITORS
Amounts falling due after more than one
year

8

(1,389

)

(4,167

)

PROVISIONS FOR LIABILITIES 10 - (1,503 )
NET ASSETS 203,351 180,895

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 203,251 180,795
SHAREHOLDERS' FUNDS 203,351 180,895

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

TEN AUTOMOTIVE EQUIPMENT LTD (REGISTERED NUMBER: 02887155)

BALANCE SHEET - continued
30 APRIL 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 January 2025 and were signed by:





C Gostling - Director


TEN AUTOMOTIVE EQUIPMENT LTD (REGISTERED NUMBER: 02887155)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Ten Automotive Equipment Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
Useful economic lives of tangible fixed assets:
Tangible fixed assets are depreciated over their expected useful lives taking into consideration residual values, where appropriate. The actual lives of the assets and residual values are assessed and amended when necessary to reflect the current estimates based on economic utilization and physical condition of the assets.

Doubtful debts:
The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade debtors , management considers factors including the current credit rating of the debtor, the ageing of the debtor and historical experience regarding payment history.

Turnover
Turnover is derived from the servicing, maintenance and calibration of automotive diagnostic equipment in the United Kingdom and represents Installation chargers and maintenance income receivable in respect of the year excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial assets and basic financial liabilities as defined under section 11 of FRS 102, including trade and other debtors, trade and other creditors, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.


TEN AUTOMOTIVE EQUIPMENT LTD (REGISTERED NUMBER: 02887155)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Corporation and deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

TEN AUTOMOTIVE EQUIPMENT LTD (REGISTERED NUMBER: 02887155)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 222,905
Disposals (23,830 )
At 30 April 2024 199,075
DEPRECIATION
At 1 May 2023 165,732
Charge for year 9,586
Eliminated on disposal (23,277 )
At 30 April 2024 152,041
NET BOOK VALUE
At 30 April 2024 47,034
At 30 April 2023 57,173

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 May 2023 48,977
Transfer to ownership (16,779 )
At 30 April 2024 32,198
DEPRECIATION
At 1 May 2023 20,810
Charge for year 3,865
Transfer to ownership (8,717 )
At 30 April 2024 15,958
NET BOOK VALUE
At 30 April 2024 16,240
At 30 April 2023 28,167

TEN AUTOMOTIVE EQUIPMENT LTD (REGISTERED NUMBER: 02887155)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 68,293 102,939
Other debtors 11,803 11,600
80,096 114,539

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 2,778 4,749
Trade creditors 45,873 62,426
Taxation and social security 30,136 31,847
Other creditors 3,447 28,578
82,234 127,600

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 1,389 4,167

Included in bank loans is a CBILS loan of £120,000 that is unsecured.

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 4,167 8,916

All liabilities held under hire purchase agreements at the balance sheet date are secured against the assets to which they relate.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax - 1,503

Deferred
tax
£   
Balance at 1 May 2023 1,503
Provided during year (1,503 )
Balance at 30 April 2024 -

Deferred tax is recognised in respect of the excess of capital allowances over depreciation.

TEN AUTOMOTIVE EQUIPMENT LTD (REGISTERED NUMBER: 02887155)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

12. OTHER FINANCIAL COMMITMENTS

The company has a annual financial commitment of £42,600 in respect of the rental of its commercial property.

13. RELATED PARTY DISCLOSURES

During the year under review the company was charged rent of £43,200 (2023: £43.200) by an unicorporated entity controlled by the director. The amount outstanding at the balance sheet date is nil (2023: nil).

The amount due to the director at the balance sheet date is £118 (2023: £18,753). This balance is repayable on demand and disclosed within other creditors.