REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1ST OCTOBER 2016 TO 31ST OCTOBER 2017 |
FOR |
TURBO FORCE LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1ST OCTOBER 2016 TO 31ST OCTOBER 2017 |
FOR |
TURBO FORCE LIMITED |
TURBO FORCE LIMITED (REGISTERED NUMBER: 04073206) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Period 1ST OCTOBER 2016 TO 31ST OCTOBER 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
TURBO FORCE LIMITED |
COMPANY INFORMATION |
for the Period 1ST OCTOBER 2016 TO 31ST OCTOBER 2017 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
327 Clifton Drive South |
Lytham St Annes |
Lancashire |
FY8 1HN |
TURBO FORCE LIMITED (REGISTERED NUMBER: 04073206) |
BALANCE SHEET |
31ST OCTOBER 2017 |
31/10/17 | 30/9/16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | 9 |
SHAREHOLDERS' FUNDS |
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. |
TURBO FORCE LIMITED (REGISTERED NUMBER: 04073206) |
BALANCE SHEET - continued |
31ST OCTOBER 2017 |
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 on by: |
TURBO FORCE LIMITED (REGISTERED NUMBER: 04073206) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Period 1ST OCTOBER 2016 TO 31ST OCTOBER 2017 |
1. | STATUTORY INFORMATION |
Turbo Force Limited is a |
registered number and registered office address can be found on the Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
These financial statements for the period ended 31st October 2017 are the first that are prepared in accordance |
with FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the |
date of transition to FRS 102 Section 1A is 1st October 2015. |
Turnover |
The turnover shown in the profit and loss account represents the value of all goods sold and services provided |
during the year, less returns received, at selling price exclusive of Value Added Tax. Sales are recognised at the |
point at which the company has fulfilled its contractual obligations and the risks and rewards attaching to the |
product and service have been transferred to the customer. |
Tangible fixed assets |
Plant and machinery | - |
Computer equipment | - |
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 period 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 period 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. |
TURBO FORCE LIMITED (REGISTERED NUMBER: 04073206) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1ST OCTOBER 2016 TO 31ST OCTOBER 2017 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Plant and | Computer |
machinery | equipment | Totals |
£ | £ | £ |
COST |
At 1st October 2016 |
Additions |
At 31st October 2017 |
DEPRECIATION |
At 1st October 2016 |
Charge for period |
At 31st October 2017 |
NET BOOK VALUE |
At 31st October 2017 |
At 30th September 2016 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/10/17 | 30/9/16 |
£ | £ |
Trade debtors |
Other debtors |
Directors' current accounts | 215 | 215 |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/10/17 | 30/9/16 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 2,991 | 3,283 |
Other creditors |
Accruals and deferred income |
7. | PROVISIONS FOR LIABILITIES |
31/10/17 | 30/9/16 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
TURBO FORCE LIMITED (REGISTERED NUMBER: 04073206) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1ST OCTOBER 2016 TO 31ST OCTOBER 2017 |
7. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Balance at 1st October 2016 |
Provided during period | ( |
) |
Balance at 31st October 2017 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31/10/17 | 30/9/16 |
value: | £ | £ |
Ordinary | £1 | 3 | 3 |
9. | RESERVES |
Retained |
earnings |
£ |
At 1st October 2016 |
Profit for the period |
At 31st October 2017 |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the period ended 31st October 2017 and the |
year ended 30th September 2016: |
31/10/17 | 30/9/16 |
£ | £ |
Balance outstanding at start of period | ( |
) | ( |
) |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period | ( |
) | ( |
) |
11. | ULTIMATE CONTROLLING PARTY |
The company was under the control of its directors, who together owned the entire issued share capital of the |
company. |