IRIS Accounts Production v25.1.0.734 05553466 Board of Directors 1.10.23 30.9.24 30.9.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh055534662023-09-30055534662024-09-30055534662023-10-012024-09-30055534662022-09-30055534662022-10-012023-09-30055534662023-09-3005553466ns15:EnglandWales2023-10-012024-09-3005553466ns14:PoundSterling2023-10-012024-09-3005553466ns10:Director12023-10-012024-09-3005553466ns10:PrivateLimitedCompanyLtd2023-10-012024-09-3005553466ns10:SmallEntities2023-10-012024-09-3005553466ns10:AuditExempt-NoAccountantsReport2023-10-012024-09-3005553466ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-09-3005553466ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-3005553466ns10:FullAccounts2023-10-012024-09-300555346612023-10-012024-09-3005553466ns10:OrdinaryShareClass12023-10-012024-09-3005553466ns10:Director22023-10-012024-09-3005553466ns10:CompanySecretary12023-10-012024-09-3005553466ns10:RegisteredOffice2023-10-012024-09-3005553466ns5:CurrentFinancialInstruments2024-09-3005553466ns5:CurrentFinancialInstruments2023-09-3005553466ns5:Non-currentFinancialInstruments2024-09-3005553466ns5:Non-currentFinancialInstruments2023-09-3005553466ns5:ShareCapital2024-09-3005553466ns5:ShareCapital2023-09-3005553466ns5:RetainedEarningsAccumulatedLosses2024-09-3005553466ns5:RetainedEarningsAccumulatedLosses2023-09-3005553466ns5:NetGoodwill2023-10-012024-09-3005553466ns5:IntangibleAssetsOtherThanGoodwill2023-10-012024-09-3005553466ns5:PlantMachinery2023-10-012024-09-3005553466ns5:FurnitureFittings2023-10-012024-09-3005553466ns5:ComputerEquipment2023-10-012024-09-3005553466ns5:NetGoodwill2023-09-3005553466ns5:NetGoodwill2024-09-3005553466ns5:NetGoodwill2023-09-3005553466ns5:PlantMachinery2023-09-3005553466ns5:PlantMachinery2024-09-3005553466ns5:PlantMachinery2023-09-3005553466ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-09-3005553466ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-10-012024-09-3005553466ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-09-3005553466ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-09-3005553466ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-09-3005553466ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-09-3005553466ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-09-3005553466ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-09-3005553466ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-09-3005553466ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-09-3005553466ns5:HirePurchaseContracts2024-09-3005553466ns5:HirePurchaseContracts2023-09-3005553466ns5:WithinOneYear2024-09-3005553466ns5:WithinOneYear2023-09-3005553466ns5:BetweenOneFiveYears2024-09-3005553466ns5:BetweenOneFiveYears2023-09-3005553466ns5:AllPeriods2024-09-3005553466ns5:AllPeriods2023-09-3005553466ns10:OrdinaryShareClass12024-09-30
REGISTERED NUMBER: 05553466 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

TYNE & WEAR ENGINEERS LIMITED

TYNE & WEAR ENGINEERS LIMITED (REGISTERED NUMBER: 05553466)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TYNE & WEAR ENGINEERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: R Johnson
K Johnson





SECRETARY: K Johnson





REGISTERED OFFICE: 5 Whitworth Road
Armstrong Industrial Estate
Washington
Tyne and Wear
NE37 1PP





REGISTERED NUMBER: 05553466 (England and Wales)





ACCOUNTANTS: RMT Ribchesters
Accountants and Business Advisors
Finchale House
Belmont Business Park
Durham
DH1 1TW

TYNE & WEAR ENGINEERS LIMITED (REGISTERED NUMBER: 05553466)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 64,420 79,582
64,421 79,583

CURRENT ASSETS
Stocks 15,000 9,360
Debtors 6 75,932 148,500
Cash at bank 147,677 151,248
238,609 309,108
CREDITORS
Amounts falling due within one year 7 120,285 76,990
NET CURRENT ASSETS 118,324 232,118
TOTAL ASSETS LESS CURRENT
LIABILITIES

182,745

311,701

CREDITORS
Amounts falling due after more than one
year

8

(26,180

)

(42,551

)

PROVISIONS FOR LIABILITIES - (14,807 )
NET ASSETS 156,565 254,343

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 156,465 254,243
SHAREHOLDERS' FUNDS 156,565 254,343

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

TYNE & WEAR ENGINEERS LIMITED (REGISTERED NUMBER: 05553466)

BALANCE SHEET - continued
30 SEPTEMBER 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 April 2025 and were signed on its behalf by:





R Johnson - Director


TYNE & WEAR ENGINEERS LIMITED (REGISTERED NUMBER: 05553466)

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

1. STATUTORY INFORMATION

Tyne & Wear Engineers 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.

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.

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

In respect of turnover arising from contractual arrangement, income is attributed to the profit and loss account as contract activity progresses in a manner appropriate to the stage of completion of each individual contract.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is not being amortised as such a charge would be immaterial.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on cost

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 Statement of Income and Retained Earnings, 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.


TYNE & WEAR ENGINEERS LIMITED (REGISTERED NUMBER: 05553466)

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

2. ACCOUNTING POLICIES - continued
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
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 estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or 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. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 1
NET BOOK VALUE
At 30 September 2024 1
At 30 September 2023 1

TYNE & WEAR ENGINEERS LIMITED (REGISTERED NUMBER: 05553466)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 361,436
Additions 833
At 30 September 2024 362,269
DEPRECIATION
At 1 October 2023 281,854
Charge for year 15,995
At 30 September 2024 297,849
NET BOOK VALUE
At 30 September 2024 64,420
At 30 September 2023 79,582

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 October 2023
and 30 September 2024 89,950
DEPRECIATION
At 1 October 2023 32,382
Charge for year 11,514
At 30 September 2024 43,896
NET BOOK VALUE
At 30 September 2024 46,054
At 30 September 2023 57,568

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 49,082 73,774
Amounts recoverable on
contracts 20,000 20,000
Other debtors 6,850 54,726
75,932 148,500

TYNE & WEAR ENGINEERS LIMITED (REGISTERED NUMBER: 05553466)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 16,371 15,556
Trade creditors 30,042 12,103
Taxation and social security 22,759 32,340
Other creditors 51,113 16,991
120,285 76,990

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 26,180 42,551

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 16,371 15,556
Between one and five years 26,180 42,551
42,551 58,107

Non-cancellable operating leases
2024 2023
£    £   
Within one year 19,020 19,020
Between one and five years 9,510 28,530
28,530 47,550

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 42,551 58,107

Hire purchase contracts are secured against the assets to which they relate.

TYNE & WEAR ENGINEERS LIMITED (REGISTERED NUMBER: 05553466)

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

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1.00 100 100

12. RELATED PARTY DISCLOSURES

During the year a director maintained an interest free loan to the company. At 30 September 2024 the balance on the loan was £36,406 (2023: £176).