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REGISTERED NUMBER: 01651618 (England and Wales)






















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

TUBE GEAR LIMITED

TUBE GEAR LIMITED (REGISTERED NUMBER: 01651618)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TUBE GEAR LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2025







DIRECTORS: I Stanley
A Varndell





SECRETARY: Mrs S L Card





REGISTERED OFFICE: 3 Doolittle Yard
Froghall Road
Ampthill
Bedfordshire
MK45 2NW





BUSINESS ADDRESS: Ground Floor Office 1, Orchard House
Courtyard V, Springhead Enterprise Park
Springhead Road
Northfleet
Kent
DA11 8HN





REGISTERED NUMBER: 01651618 (England and Wales)





ACCOUNTANTS: GKP (Ampthill) Limited
Chartered Accountants
3 Doolittle Yard
Froghall Road
Ampthill
Bedfordshire
MK45 2NW

TUBE GEAR LIMITED (REGISTERED NUMBER: 01651618)

BALANCE SHEET
28 FEBRUARY 2025

2025 2024
Notes £    £   
FIXED ASSETS
Intangible assets 4 30,199 34,513
Tangible assets 5 635,174 379,852
Investments 6 1 1
665,374 414,366

CURRENT ASSETS
Stocks 704,612 783,248
Debtors 7 2,296,655 2,189,331
Cash at bank and in hand 160,700 303,739
3,161,967 3,276,318
CREDITORS
Amounts falling due within one year 8 (1,954,316 ) (1,907,163 )
NET CURRENT ASSETS 1,207,651 1,369,155
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,873,025

1,783,521

PROVISIONS FOR LIABILITIES 11 (97,513 ) (24,881 )
NET ASSETS 1,775,512 1,758,640

CAPITAL AND RESERVES
Called up share capital 12 10,000 10,000
Capital redemption reserve 10,000 10,000
Retained earnings 1,755,512 1,738,640
SHAREHOLDERS' FUNDS 1,775,512 1,758,640

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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.

TUBE GEAR LIMITED (REGISTERED NUMBER: 01651618)

BALANCE SHEET - continued
28 FEBRUARY 2025


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 10 July 2025 and were signed on its behalf by:





A Varndell - Director


TUBE GEAR LIMITED (REGISTERED NUMBER: 01651618)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025


1. STATUTORY INFORMATION

Tube Gear 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of 10 years.

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
Tangible fixed assets are stated at cost less depreciation. Depreciation has been provided on all tangible fixed assets at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life. It is calculated at the following rates:

Plant & machinery- 30% on cost and 15% 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.


TUBE GEAR LIMITED (REGISTERED NUMBER: 01651618)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025


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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2024 - 27 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2024
and 28 February 2025 43,141
AMORTISATION
At 1 March 2024 8,628
Charge for year 4,314
At 28 February 2025 12,942
NET BOOK VALUE
At 28 February 2025 30,199
At 29 February 2024 34,513

TUBE GEAR LIMITED (REGISTERED NUMBER: 01651618)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025


5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 March 2024 456,667 397,921 854,588
Additions 368,376 - 368,376
At 28 February 2025 825,043 397,921 1,222,964
DEPRECIATION
At 1 March 2024 316,472 158,264 474,736
Charge for year 53,140 59,914 113,054
At 28 February 2025 369,612 218,178 587,790
NET BOOK VALUE
At 28 February 2025 455,431 179,743 635,174
At 29 February 2024 140,195 239,657 379,852

6. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 March 2024
and 28 February 2025 1
NET BOOK VALUE
At 28 February 2025 1
At 29 February 2024 1

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 1,313,751 1,311,365
Amounts owed by group undertakings 934,384 731,548
Other debtors 48,520 146,418
2,296,655 2,189,331

Trade debtors include £50,041 due from group companies.

TUBE GEAR LIMITED (REGISTERED NUMBER: 01651618)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 353 -
Trade creditors 706,448 650,499
Amounts owed to group undertakings 168,787 102,371
Corporation tax - 22,843
Social security and other taxes 135,418 86,749
Other creditors 943,310 1,044,701
1,954,316 1,907,163

Trade creditors include £10,427 due to group companies.

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2025 2024
£    £   
Within one year 32,411 19,656
Between one and five years 34,470 24,584
66,881 44,240

10. SECURED DEBTS

The following secured debts are included within creditors:

2025 2024
£    £   
Invoice discounting company 839,783 916,159

The invoice discounting company has first legal right in respect of trade debtors and a fixed and floating charge over the assets of the company.

11. PROVISIONS FOR LIABILITIES
2025 2024
£    £   
Deferred tax 97,513 24,881

Deferred
tax
£   
Balance at 1 March 2024 24,881
Provided during year 72,632
Balance at 28 February 2025 97,513

The provision for deferred taxation consists of the tax effect of timing differences in respect of the excess of taxation allowances over depreciation of fixed assets.

TUBE GEAR LIMITED (REGISTERED NUMBER: 01651618)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025


12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
10,000 Ordinary £1 10,000 10,000

13. CAPITAL COMMITMENTS
2025 2024
£    £   
Contracted but not provided for in the
financial statements 39,166 -

14. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

15. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Standell Components (Holdings) Limited.