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Company Registration No. 01679362 (England and Wales)
T.C. Threads Limited Unaudited accounts for the year ended 30 September 2024
T.C. Threads Limited Unaudited accounts Contents
Page
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T.C. Threads Limited Statement of financial position as at 30 September 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
48,356 
60,922 
Current assets
Inventories
92,719 
109,742 
Debtors
89,305 
107,782 
Cash at bank and in hand
1,123 
6,326 
183,147 
223,850 
Creditors: amounts falling due within one year
(166,750)
(202,250)
Net current assets
16,397 
21,600 
Total assets less current liabilities
64,753 
82,522 
Creditors: amounts falling due after more than one year
(41,084)
(54,328)
Provisions for liabilities
Deferred tax
(3,433)
(4,049)
Net assets
20,236 
24,145 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
20,136 
24,045 
Shareholders' funds
20,236 
24,145 
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 director acknowledges her 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 and authorised for issue on 26 June 2025 and were signed on its behalf by
S.T. West Director Company Registration No. 01679362
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T.C. Threads Limited Notes to the Accounts for the year ended 30 September 2024
1
Statutory information
T.C. Threads Limited is a private company, limited by shares, registered in England and Wales, registration number 01679362. The registered office is Edward House, King Edward Street, Hucknall, Nottinghamshire, NG15 7JR.
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.
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.
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
25% straight line on cost
Motor vehicles
20% straight line on cost
Computer equipment
33% straight line on cost
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of inventories over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss.
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.
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.
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T.C. Threads Limited Notes to the Accounts for the year ended 30 September 2024
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Foreign exchange
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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.
Going concern
These accounts are prepared on a going concern basis. The directors have reasonable expectation that the company will continue in existence for the foreseeable future. However they are aware of certain material uncertainties as a result of the Covid 19 pandemic which has enforced local and national lockdowns. A period of 12 months from the approval date of these accounts has been considered and support measures have been put in place.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 October 2023
130,399 
46,990 
30,066 
207,455 
Additions
2,720 
- 
- 
2,720 
At 30 September 2024
133,119 
46,990 
30,066 
210,175 
Depreciation
At 1 October 2023
115,684 
783 
30,066 
146,533 
Charge for the year
5,888 
9,398 
- 
15,286 
At 30 September 2024
121,572 
10,181 
30,066 
161,819 
Net book value
At 30 September 2024
11,547 
36,809 
- 
48,356 
At 30 September 2023
14,715 
46,207 
- 
60,922 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
81,446 
90,399 
Accrued income and prepayments
2,480 
2,409 
Other debtors
5,379 
14,974 
89,305 
107,782 
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T.C. Threads Limited Notes to the Accounts for the year ended 30 September 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
18,787 
10,000 
Obligations under finance leases and hire purchase contracts
22,240 
27,066 
Trade creditors
63,813 
121,575 
Taxes and social security
35,706 
32,456 
Other creditors
13,064 
638 
Accruals
13,140 
10,515 
166,750 
202,250 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
6,667 
16,667 
Obligations under finance leases and hire purchase contracts
34,417 
37,661 
41,084 
54,328 
The Bank loan and overdraft are secured by a fixed and floating charge over the company assets.
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Average number of employees
During the year the average number of employees was 4 (2023: 4).
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