1 October 2023 false No description of principal activity Taxfiler 2024.6 10972717business:PrivateLimitedCompanyLtd2023-10-012024-09-30 109727172023-09-30 109727172023-10-012024-09-30 10972717business:AuditExemptWithAccountantsReport2023-10-012024-09-30 10972717business:FilletedAccounts2023-10-012024-09-30 109727172024-09-30 109727172023-09-30 10972717core:WithinOneYear2024-09-30 10972717core:WithinOneYear2023-09-30 10972717core:AfterOneYear2024-09-30 10972717core:AfterOneYear2023-09-30 10972717core:ShareCapitalcore:PreviouslyStatedAmount2024-09-30 10972717core:ShareCapitalcore:PreviouslyStatedAmount2023-09-30 10972717core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-09-30 10972717core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-09-30 10972717core:PreviouslyStatedAmount2024-09-30 10972717core:PreviouslyStatedAmount2023-09-30 10972717business:SmallEntities2023-10-012024-09-30 10972717business:Director22023-10-012024-09-30 10972717countries:EnglandWales2023-10-012024-09-30 10972717business:RegisteredOffice2023-10-012024-09-30 10972717core:PlantMachinery2023-10-012024-09-30 10972717core:ComputerEquipment2023-10-012024-09-30 10972717core:LandBuildings2023-09-30 10972717core:PlantMachinery2023-09-30 10972717core:MotorVehicles2023-09-30 10972717core:ComputerEquipment2023-09-30 10972717core:LandBuildings2023-10-012024-09-30 10972717core:MotorVehicles2023-10-012024-09-30 10972717core:LandBuildings2024-09-30 10972717core:PlantMachinery2024-09-30 10972717core:MotorVehicles2024-09-30 10972717core:ComputerEquipment2024-09-30 10972717core:MotorVehiclescore:LeasedAssetsHeldAsLessee2024-09-30 10972717core:MotorVehiclescore:LeasedAssetsHeldAsLessee2023-09-30 10972717core:WithinOneYear2023-10-012024-09-30 10972717core:AfterOneYear2023-10-012024-09-30 10972717core:AcceleratedTaxDepreciationDeferredTax2024-09-30 10972717core:AcceleratedTaxDepreciationDeferredTax2023-09-30 109727172022-09-30 109727172022-10-012023-09-30 iso4217:GBP xbrli:pure
Company Registration No. 10972717 (England and Wales)
TEC Building and Timber Ltd Unaudited accounts for the year ended 30 September 2024
TEC Building and Timber Ltd Unaudited accounts Contents
Page
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TEC Building and Timber Ltd Statement of financial position as at 30 September 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
297,688 
109,919 
Investments
112,225 
112,225 
409,913 
222,144 
Current assets
Inventories
17,198 
535,265 
Debtors
149,886 
52,142 
Cash at bank and in hand
379,139 
135,976 
546,223 
723,383 
Creditors: amounts falling due within one year
(232,010)
(313,029)
Net current assets
314,213 
410,354 
Total assets less current liabilities
724,126 
632,498 
Creditors: amounts falling due after more than one year
(30,093)
(49,945)
Provisions for liabilities
Deferred tax
(23,112)
(26,652)
Net assets
670,921 
555,901 
Capital and reserves
Called up share capital
620 
620 
Profit and loss account
670,301 
555,281 
Shareholders' funds
670,921 
555,901 
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2025 and were signed on its behalf by
Mr S Edwards Director Company Registration No. 10972717
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TEC Building and Timber Ltd Notes to the Accounts for the year ended 30 September 2024
1
Statutory information
TEC Building and Timber Ltd is a private company, limited by shares, registered in England and Wales, registration number 10972717. The registered office is 2 Bailey Hill, Castle Cary, Somerset, BA7 7AD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Depreciated at 25% reducing balance
Computer equipment
Depreciated at 33% Straight line
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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TEC Building and Timber Ltd Notes to the Accounts for the year ended 30 September 2024
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 from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Investments
Investments in shares are included at fair value.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 October 2023
- 
43,843 
127,160 
631 
171,634 
Additions
202,523 
2,305 
- 
- 
204,828 
At 30 September 2024
202,523 
46,148 
127,160 
631 
376,462 
Depreciation
At 1 October 2023
- 
31,115 
30,084 
516 
61,715 
Charge for the year
- 
3,347 
13,597 
115 
17,059 
At 30 September 2024
- 
34,462 
43,681 
631 
78,774 
Net book value
At 30 September 2024
202,523 
11,686 
83,479 
- 
297,688 
At 30 September 2023
- 
12,728 
97,076 
115 
109,919 
2024 
2023 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Motor vehicles
74,979 
85,576 
5
Investments
Subsidiary undertakings 
£ 
Valuation at 1 October 2023
112,225 
Valuation at 30 September 2024
112,225 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
145,988 
18,305 
Amounts due from group undertakings etc.
- 
30,352 
Accrued income and prepayments
3,898 
3,485 
149,886 
52,142 
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TEC Building and Timber Ltd Notes to the Accounts for the year ended 30 September 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
10,000 
10,000 
VAT
47,016 
25,156 
Obligations under finance leases and hire purchase contracts
9,852 
13,414 
Trade creditors
72,024 
79,715 
Amounts owed to group undertakings and other participating interests
253 
- 
Taxes and social security
75,610 
16,704 
Other creditors
541 
1,113 
Loans from directors
10,852 
151,970 
Accruals
5,862 
14,957 
232,010 
313,029 
The hire purchase contracts are secured on the assets concerned.
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
12,500 
22,500 
Obligations under finance leases and hire purchase contracts
17,593 
27,445 
30,093 
49,945 
The hire purchase contracts are secured on the assets concerned.
9
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
23,112 
26,652 
2024 
2023 
£ 
£ 
Provision at start of year
26,652 
16,679 
(Credited)/charged to the profit and loss account
(3,540)
9,973 
Provision at end of year
23,112 
26,652 
10
Transactions with related parties
During the year the company purchased a commercial property from its directors. The transaction was carried out at market value.
11
Average number of employees
During the year the average number of employees was 6 (2023: 6).
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