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REGISTERED NUMBER: 13350680 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

TQ MECHANIX LTD

TQ MECHANIX LTD (REGISTERED NUMBER: 13350680)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

TQ MECHANIX LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: J M Tiffin





REGISTERED OFFICE: 20 Havelock Road
Hastings
East Sussex
TN34 1BP





REGISTERED NUMBER: 13350680 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP

TQ MECHANIX LTD (REGISTERED NUMBER: 13350680)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 37,623 42,688

CURRENT ASSETS
Debtors 5 61,200 44,964
Cash at bank and in hand 39,729 44,161
100,929 89,125
CREDITORS
Amounts falling due within one year 6 160,929 155,542
NET CURRENT LIABILITIES (60,000 ) (66,417 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(22,377

)

(23,729

)

CREDITORS
Amounts falling due after more than one
year

7

9,215

15,997
NET LIABILITIES (31,592 ) (39,726 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (31,692 ) (39,826 )
SHAREHOLDERS' FUNDS (31,592 ) (39,726 )

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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 January 2025 and were signed by:





J M Tiffin - Director


TQ MECHANIX LTD (REGISTERED NUMBER: 13350680)

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

1. STATUTORY INFORMATION

TQ Mechanix 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The director has made an assessment about the company's ability to continue as a going concern and does not consider there to be any material uncertainties. Although current liabilities exceed current assets, the director is confident that the company will meet its obligations with the support of the director's loan account.

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 represents net invoiced sale of parts and labour, excluding sales tax.

Revenue is recognised when works are complete; for servicing/repair work this is upon completion, for MOTs this is following test and completion of any immediate repairs/advisories as required.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - over term of lease
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on reducing balance

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.

Hire purchase and leasing commitments
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

TQ MECHANIX LTD (REGISTERED NUMBER: 13350680)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 63,846
Additions 11,597
At 30 April 2024 75,443
DEPRECIATION
At 1 May 2023 21,158
Charge for year 16,662
At 30 April 2024 37,820
NET BOOK VALUE
At 30 April 2024 37,623
At 30 April 2023 42,688

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 19,072 14,587
Other debtors 20,827 14,274
Directors' current accounts 5,603 -
Deferred tax asset 8,695 11,644
Prepayments 7,003 4,459
61,200 44,964

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 4,036 3,066
Other loans 4,657 7,230
Hire purchase contracts (see note 8) 4,653 8,834
Trade creditors 58,041 77,404
Social security and other taxes 18,211 7,099
VAT 56,074 24,684
Other creditors 9,456 4,936
Directors' current accounts - 19,037
Accrued expenses 5,801 3,252
160,929 155,542

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans - 1-2 years 1,743 3,672
Bank loans - 2-5 years - 1,743
Hire purchase contracts (see note 8) 7,472 10,582
9,215 15,997

TQ MECHANIX LTD (REGISTERED NUMBER: 13350680)

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

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.4.24 30.4.23
£    £   
Gross obligations repayable:
Within one year 5,914 11,590
Between one and five years 8,393 12,754
14,307 24,344

Finance charges repayable:
Within one year 1,261 2,756
Between one and five years 921 2,172
2,182 4,928

Net obligations repayable:
Within one year 4,653 8,834
Between one and five years 7,472 10,582
12,125 19,416

Non-cancellable operating leases
30.4.24 30.4.23
£    £   
Within one year 30,000 30,000
Between one and five years 120,000 120,000
In more than five years 60,000 90,000
210,000 240,000

Operating leases represents the rental of a commercial unit in Hailsham.
The lease was entered into in April 2021 with a 10 year term.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
100 ordinary £1 100 100

10. RELATED PARTY DISCLOSURES

At the year end the director owed £5,602 to the company (2023: £19,037 from the company).
No interest was charged on this amount and the balance was repaid after the end of the year.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
TQ MECHANIX LTD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of TQ Mechanix Ltd for the year ended 30 April 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of TQ Mechanix Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of TQ Mechanix Ltd and state those matters that we have agreed to state to the director of TQ Mechanix Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than TQ Mechanix Ltd and its director for our work or for this report.

It is your duty to ensure that TQ Mechanix Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of TQ Mechanix Ltd. You consider that TQ Mechanix Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of TQ Mechanix Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP


31 January 2025