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REGISTERED NUMBER: 00583965 (England and Wales)











Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Tubeway (Sales) Limited

Tubeway (Sales) Limited (Registered number: 00583965)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Tubeway (Sales) Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: A G Duncan
O J Duncan
A J Duncan





REGISTERED OFFICE: Elton Park
Hadleigh Road
Ipswich
Suffolk
IP2 0HN





REGISTERED NUMBER: 00583965 (England and Wales)





ACCOUNTANTS: Knights Lowe Ltd
Chartered Accountants
Crane Court
302 London Road
Ipswich
Suffolk
IP2 0AJ

Tubeway (Sales) Limited (Registered number: 00583965)

Statement of Financial Position
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 160,508 111,784
Investments 5 59,882 97,612
220,390 209,396

CURRENT ASSETS
Stocks 388,184 391,852
Debtors 6 249,181 216,071
Cash at bank and in hand 38,294 289,663
675,659 897,586
CREDITORS
Amounts falling due within one year 7 197,314 298,316
NET CURRENT ASSETS 478,345 599,270
TOTAL ASSETS LESS CURRENT LIABILITIES 698,735 808,666

PROVISIONS FOR LIABILITIES 29,383 16,134
NET ASSETS 669,352 792,532

CAPITAL AND RESERVES
Called up share capital 9 4,000 5,000
Capital redemption reserve 6,000 5,000
Retained earnings 659,352 782,532
SHAREHOLDERS' FUNDS 669,352 792,532

Tubeway (Sales) Limited (Registered number: 00583965)

Statement of Financial Position - continued
30 June 2024


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

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

The directors acknowledge their 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 Board of Directors and authorised for issue on 14 January 2025 and were signed on its behalf by:





A G Duncan - Director


Tubeway (Sales) Limited (Registered number: 00583965)

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

1. STATUTORY INFORMATION

Tubeway (Sales) Limited 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The policies adopted for the recognition of turnover are as follows:

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on the despatch of goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% straight line on buildings
Plant and machinery - 25% on reducing balance and Straight line over 15 years
Office equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, bank facilities, investments and loans with related parties.

Debt instruments that are payable or receivable within one year, such as trade payables or receivables, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. Debt instruments that are repayable or receivable after one year are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each financial year for evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in the Income Statement.

Tubeway (Sales) Limited (Registered number: 00583965)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

Fixed asset investments
Listed investments are carried at fair value determined annually based on portfolio market values. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Income Statement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 16 ) .

Tubeway (Sales) Limited (Registered number: 00583965)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Freehold Plant and Office
property machinery equipment
£    £    £   
COST
At 1 July 2023 44,353 208,896 7,990
Additions 19,724 50,499 -
Disposals - (36,923 ) -
At 30 June 2024 64,077 222,472 7,990
DEPRECIATION
At 1 July 2023 26,894 149,494 5,036
Charge for year 840 18,232 739
Eliminated on disposal - (36,923 ) -
At 30 June 2024 27,734 130,803 5,775
NET BOOK VALUE
At 30 June 2024 36,343 91,669 2,215
At 30 June 2023 17,459 59,402 2,954

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2023 30,150 23,884 315,273
Additions - 12,209 82,432
Disposals - (7,951 ) (44,874 )
At 30 June 2024 30,150 28,142 352,831
DEPRECIATION
At 1 July 2023 628 21,436 203,488
Charge for year 7,381 6,517 33,709
Eliminated on disposal - (7,951 ) (44,874 )
At 30 June 2024 8,009 20,002 192,323
NET BOOK VALUE
At 30 June 2024 22,141 8,140 160,508
At 30 June 2023 29,522 2,448 111,785

Included in cost of freehold property is land of £3,000 (2023 - £3,000) which is not depreciated.

Tubeway (Sales) Limited (Registered number: 00583965)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST OR VALUATION
At 1 July 2023 97,612
Additions 1,785
Disposals (52,963 )
Revaluation adjustments 13,448
At 30 June 2024 59,882
NET BOOK VALUE
At 30 June 2024 59,882
At 30 June 2023 97,612

Cost or valuation at 30 June 2024 is represented by:

Listed
investments
£   
Valuation in 2023 7,755
Valuation in 2022 5,525
Valuation in 2021 (7,913 )
Cost 54,515
59,882

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 237,239 196,522
Other debtors 11,942 19,549
249,181 216,071

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 63,631 49,079
Taxation and social security 78,431 114,768
Other creditors 55,252 134,469
197,314 298,316

Tubeway (Sales) Limited (Registered number: 00583965)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 8,118 8,901
Between one and five years 11,408 3,850
19,526 12,751

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
3,550 Ordinary A £1 3,550 4,750
250 Ordinary B £1 250 250
100 Ordinary C £1 100 -
100 Ordinary D £1 100 -
4,000 5,000

On 15 November 2023, 200 Ordinary A shares were reclassified as 100 Ordinary C shares and 100 Ordinary D shares.

On 3 April 2024, the company purchased and then cancelled 1,000 of its own Ordinary A shares.