Company registration number 09206665 (England and Wales)
THAMES ENGINEERING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
THAMES ENGINEERING LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
THAMES ENGINEERING LIMITED (REGISTERED NUMBER: 09206665)
BALANCE SHEET
AS AT 29 APRIL 2024
29 April 2024
- 1 -
29 April 2024
30 April 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
14,104
22,082
Current assets
Debtors
4
96,896
61,067
Cash at bank and in hand
4,895
11,691
101,791
72,758
Creditors: amounts falling due within one year
5
(101,629)
(71,727)
Net current assets
162
1,031
Total assets less current liabilities
14,266
23,113
Creditors: amounts falling due after more than one year
6
(13,941)
(22,993)
Net assets
325
120
Capital and reserves
Called up share capital
7
2
2
Profit and loss reserves
323
118
Total equity
325
120
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 29 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
THAMES ENGINEERING LIMITED (REGISTERED NUMBER: 09206665)
BALANCE SHEET (CONTINUED)
AS AT 29 APRIL 2024
29 April 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 29 July 2025 and are signed on its behalf by:
M F McCarthy
Director
THAMES ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 APRIL 2024
- 3 -
1
Accounting policies
Company information
Thames Engineering Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19/21 Swan Street, West Malling, Kent, ME19 6JU.
1.1
Reporting period
The company accounts are presented for a period shorter than a year, covering the period from the 1st of May 2023 to the 29th of April 2024.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Going concern
The balance sheet shows net liabilities, the director is the main creditor of the company and has confirmed that he will continue to support the company for the foreseeable future. Therefore, the accounts have been prepared on a going concern basis.true
1.4
Turnover
Turnover is recognised at the fair value of consideration received or receivable for the goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. The following criteria also must be met before turnover is recognised.
Turnover for the sale of goods is recognised when all of the following conditions are met: |
- The company has transferred the significant risks and rewards of ownership to the buyer; |
- the amount of turnover can be recognised reliably and;] - It is probable that the company will receive the consideration due under the transaction. |
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- The amount of turnover can be measure reliably.
- It is probable that the company will receive the consideration under the contract.
- The stage of completion of the contract at the end of the reporting period can be measure reliably; and
- The costs incurred and the costs to complete the contract can be measure reliably.
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
THAMES ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computer equipment
25% on reducing balance
Motor vehicles
25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
2023
Number
Number
Total
1
1
THAMES ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 APRIL 2024
- 5 -
3
Tangible fixed assets
Computer equipment
Motor vehicles
Total
£
£
£
Cost
At 1 May 2023
1,428
24,696
26,124
Disposals
(5,950)
(5,950)
At 29 April 2024
1,428
18,746
20,174
Depreciation and impairment
At 1 May 2023
588
3,454
4,042
Depreciation charged in the period
210
4,491
4,701
Eliminated in respect of disposals
(2,673)
(2,673)
At 29 April 2024
798
5,272
6,070
Carrying amount
At 29 April 2024
630
13,474
14,104
At 30 April 2023
840
21,242
22,082
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
96,896
61,067
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
3,926
3,830
Trade creditors
2,447
3,200
Taxation and social security
87,949
57,572
Other creditors
7,307
7,125
101,629
71,727
THAMES ENGINEERING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 APRIL 2024
- 6 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
5,048
9,496
Other creditors
8,893
13,497
13,941
22,993
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
1
1
1
1
Ordinary A of £1 each
1
1
1
1
2
2
2
2
8
Financial commitments, guarantees and contingent liabilities
Included within loans is an amount of £8,974 ( 2023 : £13,327) borrowed as part of the CBIL scheme in 2021.
The initial amount borrowed was £20,000 and as part of the loan scheme the UK government guaranteed the advance and paid the interest and fees due for the first 12 months.
The loan now attracts an interest rate of 2.50%.
9
Related party transactions
Included within other debtors is an overdrawn directors' loan account of £72,060 (2023 : £35,860).