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REGISTERED NUMBER: 01496877 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

T.W. ELECTRONICS (NEWBURY) LIMITED

T.W. ELECTRONICS (NEWBURY) LIMITED (REGISTERED NUMBER: 01496877)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


T.W. ELECTRONICS (NEWBURY) LIMITED

COMPANY INFORMATION
For The Year Ended 30 September 2024







DIRECTORS: B A Teece
O A Teece





SECRETARY: O A Teece





REGISTERED OFFICE: Beacon House
Winchester Road
Newbury
Berkshire
RG20 9JZ





REGISTERED NUMBER: 01496877 (England and Wales)





ACCOUNTANTS: Banks & Co Limited
Chartered Certified Accountants
1 Carnegie Road
Newbury
Berkshire
RG14 5DJ

T.W. ELECTRONICS (NEWBURY) LIMITED (REGISTERED NUMBER: 01496877)

BALANCE SHEET
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 90,905 105,311
Investments 5 219,511 219,511
310,416 324,822

CURRENT ASSETS
Stocks 353,361 432,394
Debtors 6 520,739 672,642
Cash at bank and in hand 295,869 274,801
1,169,969 1,379,837
CREDITORS
Amounts falling due within one year 7 404,635 537,821
NET CURRENT ASSETS 765,334 842,016
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,075,750

1,166,838

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 1,074,750 1,165,838
SHAREHOLDERS' FUNDS 1,075,750 1,166,838

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.

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 20 June 2025 and were signed on its behalf by:





O A Teece - Director


T.W. ELECTRONICS (NEWBURY) LIMITED (REGISTERED NUMBER: 01496877)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 September 2024

1. STATUTORY INFORMATION

T.W. Electronics (Newbury) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 01496877 and its registered office is Beacon House, Winchester Road, Newbury, Berkshire, RG20 9JZ.

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.

The presentation currency of the financial statements is the Pound Sterling (£). Any numerical data has been rounded to the nearest pound.

Overall risk to operations
Following the year end, there have been no substantial developments that would affect the Company's ability to trade profitably. The Company has therefore determined that there are no post balance sheet events and accordingly, the financial position as at, and results of the operations for, the year ended 31 September 2024 have not been adjusted to reflect their impact.

Turnover
Turnover represents net invoiced sales of the design and distribution of electronic components, including commissions received, excluding value added tax.

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 the period of the lease
Fixtures and fittings - 33% on reducing balance, 25% on reducing balance and 20% on reducing balance
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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 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.

T.W. ELECTRONICS (NEWBURY) LIMITED (REGISTERED NUMBER: 01496877)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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.

Research and development
Expenditure on research and development is charged to the profit and loss account in the year in which it was incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 October 2023
and 30 September 2024 108,805 73,080 493,555 38,482 713,922
DEPRECIATION
At 1 October 2023 33,993 71,910 477,946 24,762 608,611
Charge for year 5,440 386 5,148 3,432 14,406
At 30 September 2024 39,433 72,296 483,094 28,194 623,017
NET BOOK VALUE
At 30 September 2024 69,372 784 10,461 10,288 90,905
At 30 September 2023 74,812 1,170 15,609 13,720 105,311

T.W. ELECTRONICS (NEWBURY) LIMITED (REGISTERED NUMBER: 01496877)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 September 2024

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2023
and 30 September 2024 219,511
NET BOOK VALUE
At 30 September 2024 219,511
At 30 September 2023 219,511

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Associated company

Classic Service Parts Gmbh
Registered office:
Nature of business: Manufactures electronic equipment
%
Class of shares: holding
€1 ordinary shares 45.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves 463,900 391,192
Profit for the year 168,308 105,493

Prior to 31 October 2018 T W Electronic Limited controlled 35%.
T.W. Electronics (Newbury) Limited purchased an additional 10% holding in 'Classic Service Parts GmbH' on 23 November 2018, resulting in a total holding as at 30 September 2023 of 45%.

The functional currency of the associated company is Euros (€). As a result, the values disclosed have been translated as at 31 December 2023, the associates balance sheet date.

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 354,221 368,178
Other debtors 14,180 3,122
Directors' current accounts - 100,000
Prepayments 21,458 42,170
389,859 513,470

Amounts falling due after more than one year:
Deferred tax asset 130,880 159,172

Aggregate amounts 520,739 672,642

T.W. ELECTRONICS (NEWBURY) LIMITED (REGISTERED NUMBER: 01496877)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 September 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 286,958 376,662
Social security and other taxes 4,371 5,242
VAT 24,152 8,021
Other creditors 24,123 66,295
Accrued expenses 65,031 81,601
404,635 537,821

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Between one and five years 18,000 64,200

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000

10. PENSION COMMITMENTS

The company runs a defined contribution pension scheme, the contributions to which are held in a separately administered fund. During the year the company made contributions of £34,636 (2023 - £62,132) to the fund. At the year end the company had outstanding contributions totalling £1,211 (2023 - £3,708).

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£    £   
O A Teece
Balance outstanding at start of year 100,000 -
Amounts advanced - 100,000
Amounts repaid (100,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 100,000

12. RELATED PARTY DISCLOSURES

During the year ended 30 September 2024 the company paid rent in the sum of £32,100 (2023- £64,200) to B A Teece, a director of the company, and Mrs H Teece, a former director of the company, in respect of property owned by them and used by the company. No balance was outstanding at the end of the current or previous year.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is O A Teece.