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Company Registration No. 01730654 (England and Wales)
Tangent Electrical Limited Unaudited accounts for the year ended 31 August 2024
Tangent Electrical Limited Unaudited accounts Contents
Page
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Tangent Electrical Limited Company Information for the year ended 31 August 2024
Directors
Timothy Clarke Paul Childs
Company Number
01730654 (England and Wales)
Registered Office
2 Wheelwrights Yard The Street Hatfield Peverel Chelmsford Essex CM3 2EA England
Accountants
Finer Accountancy Ltd 36 Brook Lane Galleywood Chelmsford Essex CM2 8NL
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Tangent Electrical Limited Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
60,249 
15,307 
Current assets
Inventories
18,900 
31,584 
Debtors
75,740 
131,418 
Cash at bank and in hand
2,441 
22,050 
97,081 
185,052 
Creditors: amounts falling due within one year
(82,637)
(132,390)
Net current assets
14,444 
52,662 
Total assets less current liabilities
74,693 
67,969 
Creditors: amounts falling due after more than one year
(40,800)
(35,655)
Provisions for liabilities
Other provisions
(1,647)
(1,647)
Net assets
32,246 
30,667 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
32,146 
30,567 
Shareholders' funds
32,246 
30,667 
For the year ending 31 August 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 9 May 2025 and were signed on its behalf by
Paul Childs Director Company Registration No. 01730654
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Tangent Electrical Limited Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
Tangent Electrical Limited is a private company, limited by shares, registered in England and Wales, registration number 01730654. The registered office is 2 Wheelwrights Yard, The Street, Hatfield Peverel, Chelmsford, Essex, CM3 2EA, England.
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:
Motor vehicles
25% Reducing
Fixtures & fittings
20% Reducing
Stocks
Stocks 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.
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.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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Tangent Electrical Limited Notes to the Accounts for the year ended 31 August 2024
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 September 2023
85,122 
8,623 
93,745 
Additions
62,947 
- 
62,947 
Disposals
(70,877)
(2,150)
(73,027)
At 31 August 2024
77,192 
6,473 
83,665 
Depreciation
At 1 September 2023
72,371 
6,067 
78,438 
Charge for the year
8,225 
444 
8,669 
On disposals
(61,882)
(1,809)
(63,691)
At 31 August 2024
18,714 
4,702 
23,416 
Net book value
At 31 August 2024
58,478 
1,771 
60,249 
At 31 August 2023
12,751 
2,556 
15,307 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
74,507 
129,062 
Accrued income and prepayments
1,233 
1,756 
Other debtors
- 
600 
75,740 
131,418 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
5,556 
5,556 
VAT
14,626 
12,941 
Obligations under finance leases and hire purchase contracts
6,425 
- 
Trade creditors
23,697 
83,840 
Taxes and social security
- 
23,299 
Loans from directors
30,267 
- 
Accruals
2,066 
6,754 
82,637 
132,390 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
30,092 
35,655 
Obligations under finance leases and hire purchase contracts
10,708 
- 
40,800 
35,655 
8
Transactions with related parties
Dividends totalling £NIL (2023-£48,000) were paid in the year in respect of shares held by the company's directors.
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Tangent Electrical Limited Notes to the Accounts for the year ended 31 August 2024
9
Average number of employees
During the year the average number of employees was 7 (2023: 7).
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