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Registration number: 07363873

Terry Eaton Building Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Terry Eaton Building Services Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

Creditors

9

 

Terry Eaton Building Services Limited

Company Information

Director

Mr Terry Eaton

Registered office

c/o HMB Accountants Limited
18a Manor Way
Belasis Hall Technology Park
Billingham
Durham
TS23 4HN

Accountants

HMB Accountants Limited 18a Manor Way
Belasis Hall Technology Park
Billingham
TS23 4HN

 

Terry Eaton Building Services Limited

(Registration number: 07363873)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

27,948

2,338

Current assets

 

Stocks

6

3,000

2,800

Debtors

7

-

6,187

Cash at bank and in hand

 

13,226

6,388

 

16,226

15,375

Creditors: Amounts falling due within one year

8

(46,513)

(22,632)

Net current liabilities

 

(30,287)

(7,257)

Total assets less current liabilities

 

(2,339)

(4,919)

Creditors: Amounts falling due after more than one year

8

(8,852)

(18,175)

Net liabilities

 

(11,191)

(23,094)

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

(11,291)

(23,194)

Shareholders' deficit

 

(11,191)

(23,094)

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Terry Eaton Building Services Limited

(Registration number: 07363873)
Balance Sheet as at 30 September 2024

Approved and authorised by the director on 26 June 2025
 

.........................................
Mr Terry Eaton
Director

 

Terry Eaton Building Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
c/o HMB Accountants Limited
18a Manor Way
Belasis Hall Technology Park
Billingham
Durham
TS23 4HN
England

These financial statements were authorised for issue by the director on 26 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Terry Eaton Building Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Asset class

Depreciation method and rate

Plant and Machinery

20% on reducing balance

Fixtures and Fittings

15% on reducing balance

Motor Vehicles

25% on reducing balance

Computer Equipment

25% on reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Goodwill was amortised over 3 years (2011, 2012 & 2013) at the rate of £10,427 per year.

Asset class

Amortisation method and rate

Goodwill

33.3% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Terry Eaton Building Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Terry Eaton Building Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2023

31,280

31,280

At 30 September 2024

31,280

31,280

Amortisation

At 1 October 2023

31,280

31,280

At 30 September 2024

31,280

31,280

Carrying amount

At 30 September 2024

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

9,813

9,000

18,813

Additions

188

34,641

34,829

At 30 September 2024

10,001

43,641

53,642

Depreciation

At 1 October 2023

7,982

8,493

16,475

Charge for the year

432

8,787

9,219

At 30 September 2024

8,414

17,280

25,694

Carrying amount

At 30 September 2024

1,587

26,361

27,948

At 30 September 2023

1,831

507

2,338

6

Stocks

2024
£

2023
£

Work in progress

3,000

2,800

 

Terry Eaton Building Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Debtors

Current

2024
£

2023
£

Other debtors

-

6,187

 

-

6,187

 

Terry Eaton Building Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

9,753

9,753

Trade creditors

 

15,295

7,680

Taxation and social security

 

3,532

3,114

Accruals and deferred income

 

2,219

2,085

Other creditors

 

15,714

-

 

46,513

22,632

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

8,852

18,175

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

Ordinary of £1 each

99

99

99

99

100

100

100

100

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

8,852

18,175

Current loans and borrowings

2024
£

2023
£

Bank borrowings

9,753

9,753

 

Terry Eaton Building Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

11

Related party transactions

 

Terry Eaton Building Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

13,520

13,520