Company registration number 00564860 (England and Wales)
T. & T. TUBECRAFT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2025
PAGES FOR FILING WITH REGISTRAR
The Granary
Hones Yard
1 Waverley Lane
Farnham
Surrey
GU9 8BB
T. & T. TUBECRAFT LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 11
T. & T. TUBECRAFT LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr B. Turner
Mr R. Turner
Secretary
Mrs F. Turner
Ms H. Turner
Company number
00564860
Registered office
C/O TC Group
The Granary, Hones Yard
1 Waverley Lane
Farnham
Surrey
GU9 8BB
Accountants
TC Group
The Granary
Hones Yard
1 Waverley Lane
Farnham
Surrey
GU9 8BB
T. & T. TUBECRAFT LIMITED
BALANCE SHEET
AS AT
30 JUNE 2025
30 June 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,649,633
1,790,832
Current assets
Stocks
12,061
11,989
Debtors
5
375,660
401,535
Cash at bank and in hand
1,159,916
880,653
1,547,637
1,294,177
Creditors: amounts falling due within one year
6
(484,724)
(574,388)
Net current assets
1,062,913
719,789
Total assets less current liabilities
2,712,546
2,510,621
Creditors: amounts falling due after more than one year
7
(110,319)
(44,507)
Provisions for liabilities
(271,827)
(200,650)
Net assets
2,330,400
2,265,464
Capital and reserves
Called up share capital
3,625
3,625
Capital redemption reserve
1,375
1,375
Profit and loss reserves
2,325,400
2,260,464
Total equity
2,330,400
2,265,464
T. & T. TUBECRAFT LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2025
30 June 2025
- 3 -

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 year ended 30 June 2025 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.

T he members have not required the company to obtain an audit of its financial statements for the year 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.

The financial statements were approved by the board of directors and authorised for issue on 4 November 2025 and are signed on its behalf by:
Mr B. Turner
Director
Company Registration No. 00564860
T. & T. TUBECRAFT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
- 4 -
1
Accounting policies
Company information

T. & T. Tubecraft Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/O TC Group, The Granary, Hones Yard, 1 Waverley Lane, Farnham, Surrey, United Kingdom, GU9 8BB.

1.1
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 a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for 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.

1.4
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.

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:

Leasehold property
Over the term of the lease
Plant and machinery
25% Reducing balance
Fixtures and fittings
25% Reducing balance
Computer equipment
25% Reducing balance
Motor vehicles
25% Reducing balance
T. & T. TUBECRAFT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 5 -
The Directors have a policy of depreciating leasehold property over the estimated useful life of the asset less residual value. A high residual value is maintained on long leasehold properties by the directors policy of regular maintenance and repair work being conducted so that the asset is kept to its previously assesed standard. In accordance with this practice no depreciation has been provided on long leasehold properties where, in the opinion of the directors, the residual values (in terms of original cost) are such that any depreciation charge would be immaterial to the period and on a cumulative basis. The asset has been tested for impairment.

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.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Stocks

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

1.7
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

T. & T. TUBECRAFT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 6 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

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.

Deferred tax

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

T. & T. TUBECRAFT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 7 -
1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

The company has agreed to provide certain additional post-retirement benefits to selected senior employees. The estimated cost of providing such benefits is charged against profits on a systematic basis over the employees' working lives within the company.

1.13
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.14
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

T. & T. TUBECRAFT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 8 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
18
17
3
Taxation
2025
2024
£
£
Deferred tax
Origination and reversal of timing differences
71,177
72,635
T. & T. TUBECRAFT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 9 -
4
Tangible fixed assets
Leasehold property
Leasehold property improvements
Plant and machinery
Fixtures and fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
£
£
£
Cost
At 1 July 2024
9,613
840,367
3,936,285
81,190
97,714
83,740
5,048,909
Additions
-
0
-
0
147,300
1,113
15,794
88,899
253,106
Disposals
-
0
-
0
-
0
-
0
(708)
-
0
(708)
At 30 June 2025
9,613
840,367
4,083,585
82,303
112,800
172,639
5,301,307
Depreciation and impairment
At 1 July 2024
2,551
226,482
2,851,112
64,315
80,993
32,624
3,258,077
Depreciation charged in the year
957
88,536
279,471
4,334
6,125
14,632
394,055
Eliminated in respect of disposals
-
0
-
0
-
0
-
0
(458)
-
0
(458)
At 30 June 2025
3,508
315,018
3,130,583
68,649
86,660
47,256
3,651,674
Carrying amount
At 30 June 2025
6,105
525,349
953,002
13,654
26,140
125,383
1,649,633
At 30 June 2024
7,062
613,885
1,085,173
16,875
16,721
51,116
1,790,832
T. & T. TUBECRAFT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 10 -
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
302,873
346,404
Corporation tax recoverable
58
-
0
Other debtors
12,566
835
Prepayments and accrued income
60,163
54,296
375,660
401,535
6
Creditors: amounts falling due within one year
2025
2024
£
£
Obligations under finance leases
17,520
7,356
Trade creditors
119,663
171,625
Taxation and social security
107,738
87,937
Other creditors
149,645
207,780
Accruals and deferred income
90,158
99,690
484,724
574,388
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
110,319
44,507
T. & T. TUBECRAFT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 11 -
8
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
394,913
428,763
Tax losses
(122,476)
(226,987)
Retirement benefit obligations
(610)
(1,126)
271,827
200,650
2025
Movements in the year:
£
Liability at 1 July 2024
200,650
Charge to profit or loss
71,177
Liability at 30 June 2025
271,827
9
Related party transactions

During the current and previous year the company was under the control of the Directors.

Both of the directors are trustees and members of T & T Tubecraft Directors Pension Scheme. During the year, T & T. Tubecraft Limited was charged rent of £12 6,000 (20 24 - £126,000) and other charges of £1,367 (20 24 - £3,684) by the scheme.

The company made contributions to the scheme totalling £110,000 (20 24 - £20,000).

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