REGISTERED NUMBER: 04232860 (England and Wales)

TWA Autoelectrics Limited

Unaudited Financial Statements for the Year Ended 30 September 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

T J Murray

Miss J C Birt

Registered office:

389-391 Corporation Road

Newport

NP19 OFN

Registered number:

04232860 (England and Wales)

Accountants:

Menzies LLP, Statutory Auditors

5th Floor Hodge House

114-116 St Mary Street

Cardiff

CF10 1DY

Fixed assets

Property, plant and equipment

4

167,029

155,833

Investment property

5

190,000

150,000

357,029

305,833

Current assets

Inventories

6

1,000

1,000

Debtors

7

62,891

37,972

Cash at bank and in hand

176,245

170,608

240,136

209,580

Creditors

Amounts falling due within one year

8

(90,003

)

(56,196

)

Net current assets

150,133

153,384

Total assets less current liabilities

507,162

459,217

Creditors

Amounts falling due after more than one year

9

(7,500

)

(17,500

)

Provisions for liabilities

11

(47,133

)

(31,193

)

Net assets

452,529

410,524

Capital and reserves

Called up share capital

1

1

Fair value reserve

12

105,000

81,000

Retained earnings

347,528

329,523

Shareholders' funds

452,529

410,524

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2025 and were signed on its behalf by:

Miss J C Birt - Director

1.	Statutory information

TWA Autoelectrics 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 as modified by the revaluation of certain assets.

The directors have not paid attention to any particular period after the approval of the financial statements but have instead carried out an overall review of business operations.

The company has continued to meet its working capital requirements without the use of an overdraft facility.

On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Freehold property

-

2% on cost

Improvements to property

-

2% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

The directors believe the fair value of the investment property has increased during the year to a value of approximately £190,000.

Inventories

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual arrangements as either financial assets, financial liabilities or equity instruments, and are held at amortised cost. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all its liabilities.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value of the future payments discounted at a market rate of interest for a similar debt instrument.

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.

Hire purchase and leasing commitments

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 7 (2023 - 7 ) .

4.	Property, plant and equipment

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

Cost

At 1 October 2023

127,247

11,962

60,672

Additions

-

-

-

At 30 September 2024

127,247

11,962

60,672

Depreciation

At 1 October 2023

50,899

4,851

34,186

Charge for year

2,545

240

6,622

At 30 September 2024

53,444

5,091

40,808

Net book value

At 30 September 2024

73,803

6,871

19,864

At 30 September 2023

76,348

7,111

26,486

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

Cost

At 1 October 2023

41,641

41,399

144,573

427,494

Additions

168

27,600

9,961

37,729

At 30 September 2024

41,809

68,999

154,534

465,223

Depreciation

At 1 October 2023

22,931

39,946

118,848

271,661

Charge for year

2,811

2,089

12,226

26,533

At 30 September 2024

25,742

42,035

131,074

298,194

Net book value

At 30 September 2024

16,067

26,964

23,460

167,029

At 30 September 2023

18,710

1,453

25,725

155,833

5.	Investment property

Total

£

Fair value

At 1 October 2023

150,000

Revaluations

40,000

At 30 September 2024

190,000

Net book value

At 30 September 2024

190,000

At 30 September 2023

150,000

Fair value at 30 September 2024 is represented by:

£

Valuation in 2015

80,000

Valuation in 2019

40,000

Valuation in 2021

30,000

Valuation in 2024

40,000

190,000

6.	Inventories

2024

2023

£

£

Stock and work in progress

1,000

1,000

7.

Debtors: amounts falling due within one year

2024

2023

£

£

Trade debtors

51,128

27,686

Prepayments

11,763

10,286

62,891

37,972

8.

Creditors: amounts falling due within one year

2024

2023

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

26,303

18,228

Tax

16,767

-

Social security and other taxes

5,856

5,718

VAT

26,670

18,489

Other creditors

1,748

987

Directors' current accounts

189

189

Accrued expenses

2,470

2,585

90,003

56,196

9.

Creditors: amounts falling due after more than one year

2024

2023

£

£

Bank loans - 1-2 years

7,500

10,000

Bank loans - 2-5 years

-

7,500

7,500

17,500

10.	Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

7,084

10,839

Between one and five years

-

7,084

7,084

17,923

11.	Provisions for liabilities

2024

2023

£

£

Deferred tax

Accelerated capital allowances

12,133

12,193

Tax on unrealised gain/loss

35,000

19,000

47,133

31,193

Deferred

tax

£

Balance at 1 October 2023

31,193

Credit to Income Statement during year

(60

)

unrealised gains on investment

16,000

property

Balance at 30 September 2024

47,133

12.

Reserves

Fair

value

reserve

£

At 1 October 2023

81,000

Transfer to fair value reserve

24,000

At 30 September 2024

105,000