Tyne Tees Electrical Contracting Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03766036 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2018

for

Tyne Tees Electrical

Contracting Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D P McMorrow

C S Smith

REGISTERED OFFICE:

Unit 382G, Jedburgh Court

Team Valley

Gateshead

Tyne and Wear

NE11 0BQ

REGISTERED NUMBER:

03766036 (England and Wales)

ACCOUNTANTS:

Inspire Chartered Accountants

6 Queens Court

Third Avenue

Team Valley

Gateshead

Tyne and Wear

NE11 0BU

FIXED ASSETS

Tangible assets

4

17,516

10,117

CURRENT ASSETS

Debtors

5

160,807

139,240

Cash at bank

352,261

209,424

513,068

348,664

CREDITORS

Amounts falling due within one year

6

293,778

152,675

NET CURRENT ASSETS

219,290

195,989

TOTAL ASSETS LESS CURRENT LIABILITIES

236,806

206,106

CREDITORS

Amounts falling due after more than one year

7

(5,464

)

(1,893

)

PROVISIONS FOR LIABILITIES

(3,255

)

(1,656

)

NET ASSETS

228,087

202,557

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

227,987

202,457

SHAREHOLDERS' FUNDS

228,087

202,557

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 4 October 2018 and were signed on its behalf by:

D P McMorrow - Director

1.	STATUTORY INFORMATION

Tyne Tees Electrical Contracting 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

10% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

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

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 7 (2017 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 June 2017

14,539

2,302

7,665

17,329

41,835

Additions

-

-

-

15,364

15,364

Disposals

-

-

-

(6,296

)

(6,296

)

At 31 May 2018

14,539

2,302

7,665

26,397

50,903

DEPRECIATION

At 1 June 2017

12,702

2,150

5,906

10,960

31,718

Charge for year

1,454

23

264

4,395

6,136

Eliminated on disposal

-

-

-

(4,467

)

(4,467

)

At 31 May 2018

14,156

2,173

6,170

10,888

33,387

NET BOOK VALUE

At 31 May 2018

383

129

1,495

15,509

17,516

At 31 May 2017

1,837

152

1,759

6,369

10,117

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 June 2017

11,033

Additions

15,364

At 31 May 2018

26,397

DEPRECIATION

At 1 June 2017

6,573

Charge for year

4,315

At 31 May 2018

10,888

NET BOOK VALUE

At 31 May 2018

15,509

At 31 May 2017

4,460

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

31.5.17

£

£

Trade debtors

153,595

133,856

Other debtors

7,212

5,384

160,807

139,240

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

31.5.17

£

£

Hire purchase contracts

6,576

2,271

Trade creditors

187,984

63,271

Taxation and social security

94,924

84,031

Other creditors

4,294

3,102

293,778

152,675

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.18

31.5.17

£

£

Hire purchase contracts

5,464

1,893

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.18

31.5.17

£

£

Hire purchase contracts

12,040

4,164

Hire purchase liability is secured against the assets to which they relate.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.18

31.5.17

value:

£

£

100

Ordinary

£1

100

100