REGISTERED NUMBER: 02570131 (England and Wales)

TRANSFORGE (U.K.) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

5

DIRECTORS:

Mrs D C Haynes

G D Haynes

S C Haynes

D C Haynes

SECRETARY:

Mrs D C Haynes

REGISTERED OFFICE:

Transforge (UK) Limited

Kestrel Way, Eagle Business Park

Yaxley

Peterborough

Cambridgeshire

PE7 3GQ

REGISTERED NUMBER:

02570131 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Holdings Limited

14 All Saints Street

Stamford

Lincolnshire

PE9 2PA

FIXED ASSETS

Tangible assets

4

1,381,370

1,387,386

CURRENT ASSETS

Stocks

59,191

83,266

Debtors

5

1,013,827

1,100,952

Cash at bank and in hand

2,536,754

1,639,256

3,609,772

2,823,474

CREDITORS

Amounts falling due within one year

6

852,413

964,509

NET CURRENT ASSETS

2,757,359

1,858,965

TOTAL ASSETS LESS CURRENT LIABILITIES

4,138,729

3,246,351

PROVISIONS FOR LIABILITIES

57,086

43,669

NET ASSETS

4,081,643

3,202,682

CAPITAL AND RESERVES

Called up share capital

7

10,000

10,000

Retained earnings

4,071,643

3,192,682

SHAREHOLDERS' FUNDS

4,081,643

3,202,682

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 3 August 2023 and were signed on its behalf by:

D C Haynes - Director

1.	STATUTORY INFORMATION

Transforge (U.K.) 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.

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.

Freehold property

-

2% on cost

Plant and machinery

-

20% on reducing balance

Fixtures & equipment

-

33% on cost and 15% on reducing balance

Motor vehicles

-

25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks

Stocks are valued at the lower of cost and fair value less costs to complete and sell after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Amounts recoverable under contracts

Services provided to customers during the year, which at the statement of financial position date have not been billed to customers, have been recognised as turnover in accordance with Financial Reporting Standard 102 Section 1A. Turnover recognised in this manner is based on an assessment of the fair value of the services provided at the statement of financial position date as a proportion of the total value of the contract. Provision is made against unbilled amounts on those contracts where the right to receive payment is contingent on factors outside the control of the company. Unbilled revenue is included in debtors as amounts recoverable under contracts.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Fixtures

Motor

property

machinery

& equipment

vehicles

Totals

£

£

£

£

£

COST

At 1 April 2022

1,430,849

364,271

44,625

10,995

1,850,740

Additions

11,119

25,109

1,590

-

37,818

Disposals

-

(13,250

)

-

-

(13,250

)

At 31 March 2023

1,441,968

376,130

46,215

10,995

1,875,308

DEPRECIATION

At 1 April 2022

139,476

292,312

30,192

1,374

463,354

Charge for year

15,988

16,440

7,490

2,405

42,323

Eliminated on disposal

-

(11,739

)

-

-

(11,739

)

At 31 March 2023

155,464

297,013

37,682

3,779

493,938

NET BOOK VALUE

At 31 March 2023

1,286,504

79,117

8,533

7,216

1,381,370

At 31 March 2022

1,291,373

71,959

14,433

9,621

1,387,386

Included in cost of land and buildings is freehold land of £ 578,454 (2022 - £ 578,454 ) which is not depreciated.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

885,483

931,877

Amounts recoverable on contract

114,414

128,554

Other debtors

880

1,379

Directors' current accounts

6,918

1,206

Prepayments

6,132

37,936

1,013,827

1,100,952

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

362,669

654,709

Other taxes and social security

462,364

277,428

Other creditors

16,745

14,299

Accrued expenses

10,635

18,073

852,413

964,509

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

5,000

'A' Ordinary

£1

5,000

5,000

5,000

'B ' Ordinary

£1

5,000

5,000

10,000

10,000

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023

2022

£

£

G D Haynes

Balance outstanding at start of year

-

19,000

Amounts repaid

-

(19,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

S C Haynes

Balance outstanding at start of year

1,206

-

Amounts advanced

6,981

1,206

Amounts repaid

(1,206

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

6,981

1,206

The loans made were unsecured, interest free and repayable on demand.

9.	PENSION CONTRIBUTIONS

The company paid £73,000 in to self invested pensions during the year with a view to potentially purchasing company assets to assist with development of the business.