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REGISTERED NUMBER: 07011865 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

TNA ELECTRICAL LTD

TNA ELECTRICAL LTD (REGISTERED NUMBER: 07011865)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 8

Other Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 14


TNA ELECTRICAL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: N J Jones
A T Jones





SECRETARY: A T Jones





REGISTERED OFFICE: Unit 13 Heritage Park
Hayes Way
Cannock
WS11 7LT





REGISTERED NUMBER: 07011865 (England and Wales)





AUDITORS: Stour Accountants Limited
Chartered Certified Accountants and Statutory
Auditor
402-403 Stourport Road
Kidderminster
Worcestershire
DY11 7BG

TNA ELECTRICAL LTD (REGISTERED NUMBER: 07011865)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 JANUARY 2024

The directors present their strategic report of the company for the year ended 31st January 2024.

REVIEW OF BUSINESS
The directors are pleased to present the review of the business for the year ended 31st January 2024 and the position of the company at the end of the year.The intention is to portray a balanced and comprehensive summary of the development and performance of the company consistent with the size and nature of the business against the background of any risks and uncertainties that may exist. In doing so, the directors have taken int account only such facts and circumstances of which they are aware at the date of this report.

There has been no change in the principal activity.

The key financial performance indicators of the company are turnover and operating profit.

Turnover £30,053,448 (2023 - £27,135,722)

Operating profit/(loss) £(1,902,684) (2023 - £403,790)

PRINCIPAL RISKS AND UNCERTAINTIES
The main risks and uncertainties for the business relate to material and subcontractor costs, together with a lower supply of labour.

The company undertakes regular reviews of the principle risks and the business, and wherever possible adopts strategies to minimise such risks.

ON BEHALF OF THE BOARD:





A T Jones - Director


30 January 2025

TNA ELECTRICAL LTD (REGISTERED NUMBER: 07011865)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 JANUARY 2024

The directors present their report with the financial statements of the company for the year ended 31 January 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of electrical contractors.

DIVIDENDS
Interim dividends on the Ordinary £1 shares were paid as follows:

1894.30 per share paid on 12th April 2023
359.62 per share paid on 1st May 2023.

The directors recommend that no final dividend be paid on these shares.

No interim dividend was paid on the Ordinary £1 B shares. The directors recommend that no final dividend be paid
on theses shares.

No interim dividend was paid on the Ordinary £1 C shares. The directors recommend that no final dividend be paid
on these shares.

The total distribution of dividends for the year ended 31st January 2024 will be £225,392.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 February 2023 to the date of this report.

N J Jones
A T Jones

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

TNA ELECTRICAL LTD (REGISTERED NUMBER: 07011865)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 JANUARY 2024


AUDITORS
The auditors, Stour Accountants Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





A T Jones - Director


30 January 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
TNA ELECTRICAL LTD

Qualified opinion
We have audited the financial statements of TNA Electrical Ltd (the 'company') for the year ended 31 January 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion, except for the possible effects of the matter described in the basis for qualified opinion section of our report, the financial statements:
- give a true and fair view of the state of the company's affairs as at 31st January 2024 and of its loss for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for qualified opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. The financial statement for the previous period were not audited. As a result of this there was no stocktake attendance to observe the physical stock count. We were unable to satisfy ourselves by alternative means concerning the stock quantities held at 31 January 2023, which are included within the balance sheet at £30,000. Consequently we were unable to determine whether any adjustment to this amount was necessary.
Further no stocktake attendance was undertaken at 31st January 2024 as we were appointed after the balance sheet date.We were unable to satisfy ourselves by alternative means concerning the stock quantities held at 31 January 2024, which are included within the balance sheet at £100,000.

Our audit opinion on the current period's financial statements is therefore modified because of the possible effect of these matters on the current period's operating results.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion..

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
TNA ELECTRICAL LTD


Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Other Matters
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.
The financial statements for the year ended 31 January 2023 were not audited.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
TNA ELECTRICAL LTD


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional skepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the financial statements, whether by fraud or error, design and perform audit procedures responsive to those risks.and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion.The risk of not detecting a material misstatement resulting from fraud is higher than one resulting from error, as fraud may involve collusion, forgery, intentional omissions,misrepresentations, or the override of internal control.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.
- Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate , to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the company to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieve fair presentation (ie. gives a true and fair view).
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




William David Chinn (Senior Statutory Auditor)
for and on behalf of Stour Accountants Limited
Chartered Certified Accountants and Statutory
Auditor
402-403 Stourport Road
Kidderminster
Worcestershire
DY11 7BG

30 January 2025

TNA ELECTRICAL LTD (REGISTERED NUMBER: 07011865)

INCOME STATEMENT
FOR THE YEAR ENDED 31 JANUARY 2024

2024 2023
Notes £    £   

TURNOVER 3 30,053,448 27,135,722

Cost of sales 29,105,800 24,750,147
GROSS PROFIT 947,648 2,385,575

Administrative expenses 2,923,238 1,981,785
OPERATING (LOSS)/PROFIT 5 (1,975,590 ) 403,790

Interest receivable and similar income 2 101
(1,975,588 ) 403,891

Interest payable and similar expenses 6 153,483 78,673
(LOSS)/PROFIT BEFORE TAXATION (2,129,071 ) 325,218

Tax on (loss)/profit 7 (96,229 ) (95,362 )
(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(2,032,842

)

420,580

TNA ELECTRICAL LTD (REGISTERED NUMBER: 07011865)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JANUARY 2024

2024 2023
Notes £    £   

(LOSS)/PROFIT FOR THE YEAR (2,032,842 ) 420,580


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

(2,032,842

)

420,580

TNA ELECTRICAL LTD (REGISTERED NUMBER: 07011865)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 464,184 466,407

CURRENT ASSETS
Stocks 10 100,000 30,000
Debtors 11 7,224,625 8,067,707
Cash at bank 602,722 354,481
7,927,347 8,452,188
CREDITORS
Amounts falling due within one year 12 8,121,517 6,379,898
NET CURRENT (LIABILITIES)/ASSETS (194,170 ) 2,072,290
TOTAL ASSETS LESS CURRENT
LIABILITIES

270,014

2,538,697

CREDITORS
Amounts falling due after more than one
year

13

(423,910

)

(435,136

)

PROVISIONS FOR LIABILITIES 17 (12,563 ) (11,788 )
NET (LIABILITIES)/ASSETS (166,459 ) 2,091,773

CAPITAL AND RESERVES
Called up share capital 18 102 100
Retained earnings 19 (166,561 ) 2,091,673
SHAREHOLDERS' FUNDS (166,459 ) 2,091,773

The financial statements were approved by the Board of Directors and authorised for issue on 30 January 2025 and were signed on its behalf by:





A T Jones - Director


TNA ELECTRICAL LTD (REGISTERED NUMBER: 07011865)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 February 2022 100 1,929,066 1,929,166

Changes in equity
Dividends - (257,973 ) (257,973 )
Total comprehensive income - 420,580 420,580
Balance at 31 January 2023 100 2,091,673 2,091,773

Changes in equity
Issue of share capital 2 - 2
Dividends - (225,392 ) (225,392 )
Total comprehensive income - (2,032,842 ) (2,032,842 )
Balance at 31 January 2024 102 (166,561 ) (166,459 )

TNA ELECTRICAL LTD (REGISTERED NUMBER: 07011865)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 JANUARY 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 334,091 1,175,993
Interest paid (149,210 ) (75,834 )
Interest element of hire purchase payments
paid

(4,273

)

(2,839

)
Tax paid 96,803 96,804
Net cash from operating activities 277,411 1,194,124

Cash flows from investing activities
Purchase of tangible fixed assets (37,539 ) (15,728 )
Sale of tangible fixed assets 5,500 987
Interest received 2 101
Net cash from investing activities (32,037 ) (14,640 )

Cash flows from financing activities
New loans in year 581,250 -
Loan repayments in year (363,909 ) (280,400 )
Capital repayments in year 10,916 (11,075 )
Amount withdrawn by directors - (31,001 )
Share issue 2 -
Equity dividends paid (225,392 ) (257,973 )
Net cash from financing activities 2,867 (580,449 )

Increase in cash and cash equivalents 248,241 599,035
Cash and cash equivalents at beginning of
year

2

354,481

(244,554

)

Cash and cash equivalents at end of year 2 602,722 354,481

TNA ELECTRICAL LTD (REGISTERED NUMBER: 07011865)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 JANUARY 2024

1. RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
(Loss)/profit before taxation (2,129,071 ) 325,218
Depreciation charges 37,470 33,959
Profit on disposal of fixed assets (3,207 ) (987 )
Finance costs 153,483 78,673
Finance income (2 ) (101 )
(1,941,327 ) 436,762
(Increase)/decrease in stocks (70,000 ) 2,742,039
Decrease/(increase) in trade and other debtors 843,081 (6,277,957 )
Increase in trade and other creditors 1,502,337 4,275,149
Cash generated from operations 334,091 1,175,993

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 January 2024
31.1.24 1.2.23
£    £   
Cash and cash equivalents 602,722 354,481
Year ended 31 January 2023
31.1.23 1.2.22
£    £   
Cash and cash equivalents 354,481 20
Bank overdrafts - (244,574 )
354,481 (244,554 )


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.2.23 Cash flow At 31.1.24
£    £    £   
Net cash
Cash at bank and in hand 354,481 248,241 602,722
354,481 248,241 602,722
Debt
Finance leases (44,643 ) (10,916 ) (55,559 )
Debts falling due within 1 year (187,385 ) (212,352 ) (399,737 )
Debts falling due after 1 year (401,569 ) (4,989 ) (406,558 )
(633,597 ) (228,257 ) (861,854 )
Total (279,116 ) 19,984 (259,132 )

TNA ELECTRICAL LTD (REGISTERED NUMBER: 07011865)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

TNA Electrical 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.Turnover includes revenue earned from the sale of goods and from the rendering of services.
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

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.

Leasehold property - 1% to 5% on straight line
Improvements to property - 20% on reducing balance
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

TNA ELECTRICAL LTD (REGISTERED NUMBER: 07011865)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 useful lives or the lease term, whichever is the shortest.

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

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.

3. TURNOVER

The turnover and is attributable to the one principle activity of the company.

The geographical market of turnover is the United Kingdom.

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 1,059,180 996,850
Social security costs 103,787 109,223
Other pension costs 48,145 32,680
1,211,112 1,138,753

The average number of employees during the year was as follows:
2024 2023

Production 9 9
Technical 6 6
Administration 5 5
Management 5 5
25 25

2024 2023
£    £   
Directors' remuneration 30,000 30,000
Directors' pension contributions to money purchase schemes 24,900 10,900

TNA ELECTRICAL LTD (REGISTERED NUMBER: 07011865)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

5. OPERATING (LOSS)/PROFIT

The operating loss (2023 - operating profit) is stated after charging/(crediting):

2024 2023
£    £   
Hire of plant and machinery 554,325 517,431
Depreciation - owned assets 22,220 21,175
Depreciation - assets on hire purchase contracts 15,249 13,784
Profit on disposal of fixed assets (3,207 ) (987 )
Auditors' remuneration 12,000 -

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Mortgage interest 3,813 3,528
Loan interest 145,397 72,306
Hire purchase interest 4,273 2,839
153,483 78,673

7. TAXATION

Analysis of the tax credit
The tax credit on the loss for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax - 23,629
Adjustments in respect of previous periods (97,004 ) (114,130 )
Total current tax (97,004 ) (90,501 )

Deferred tax 775 (4,861 )
Tax on (loss)/profit (96,229 ) (95,362 )

8. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Interim 225,392 257,973

TNA ELECTRICAL LTD (REGISTERED NUMBER: 07011865)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

9. TANGIBLE FIXED ASSETS
Improvements
Long to Plant and
leasehold property machinery
£    £    £   
COST
At 1 February 2023 381,904 44,252 8,309
Additions - - -
Disposals - - -
At 31 January 2024 381,904 44,252 8,309
DEPRECIATION
At 1 February 2023 25,997 22,633 6,202
Charge for year 6,527 4,324 421
Eliminated on disposal - - -
At 31 January 2024 32,524 26,957 6,623
NET BOOK VALUE
At 31 January 2024 349,380 17,295 1,686
At 31 January 2023 355,907 21,619 2,107

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2023 163,703 75,429 673,597
Additions 34,989 2,550 37,539
Disposals (2,560 ) - (2,560 )
At 31 January 2024 196,132 77,979 708,576
DEPRECIATION
At 1 February 2023 97,292 55,066 207,190
Charge for year 21,691 4,506 37,469
Eliminated on disposal (267 ) - (267 )
At 31 January 2024 118,716 59,572 244,392
NET BOOK VALUE
At 31 January 2024 77,416 18,407 464,184
At 31 January 2023 66,411 20,363 466,407

The net book value of tangible fixed assets includes £ 52,299 (2023 - £ 41,350 ) in respect of assets held under hire purchase contracts.

10. STOCKS
2024 2023
£    £   
Stocks 100,000 30,000

TNA ELECTRICAL LTD (REGISTERED NUMBER: 07011865)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,633,364 1,896,864
Amounts recoverable on contract 4,302,551 4,399,976
Other debtors 280,167 1,768,149
Prepayments and accrued income 8,543 2,718
7,224,625 8,067,707

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 14) 399,737 187,385
Hire purchase contracts (see note 15) 38,207 11,076
Trade creditors 7,428,634 5,703,265
Tax 23,228 23,429
Social security and other taxes 154,455 396,909
Other creditors 60,665 16,108
Accrued expenses 16,591 41,726
8,121,517 6,379,898

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 14) 406,558 401,569
Hire purchase contracts (see note 15) 17,352 33,567
423,910 435,136

14. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 399,737 187,385

Amounts falling due between one and two years:
Bank loans - 1-2 years 138,849 66,593

Amounts falling due between two and five years:
Bank loans - 2-5 years 267,709 194,012

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 140,964

TNA ELECTRICAL LTD (REGISTERED NUMBER: 07011865)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

15. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 38,207 11,076
Between one and five years 17,352 33,567
55,559 44,643

16. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 806,295 588,954
Hire purchase contracts 55,559 44,643
861,854 633,597

17. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 12,563 11,788

Deferred
tax
£   
Balance at 1 February 2023 11,788
Provided during year 775
Balance at 31 January 2024 12,563

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100
1 Ordinary B £1 1 -
1 Ordinary C £1 1 -
102 100

The following shares were allotted and fully paid for cash at par during the year:

1 Ordinary B shares of £1 each
1 Ordinary C shares of £1 each

TNA ELECTRICAL LTD (REGISTERED NUMBER: 07011865)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

19. RESERVES
Retained
earnings
£   

At 1 February 2023 2,091,673
Deficit for the year (2,032,842 )
Dividends (225,392 )
At 31 January 2024 (166,561 )

20. RELATED PARTY DISCLOSURES

TNA Mechanical Ltd is a related party of TNA Electrical Ltd.

During the year sales of goods and services amounting to £545,646 (2023 - £865,534) were supplied to TNA Mechanical Ltd.

During the year purchase of goods and services amounting to £1,062,778 (2023 - £1,097,329) were supplied from TNA Mechanical Ltd.

As at 31 January 2024 £10,266 (2023 - £527,398) was owed by TNA Mechanical Ltd to TNA Electrical Ltd.