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REGISTERED NUMBER: 02018085 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

TRUTURN PRECISION ENGINEERING
(CHARFIELD) LIMITED

TRUTURN PRECISION ENGINEERING
(CHARFIELD) LIMITED (REGISTERED NUMBER: 02018085)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TRUTURN PRECISION ENGINEERING
(CHARFIELD) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTOR: Mrs A Johnstrup





SECRETARY: Ms R Beacham





REGISTERED OFFICE: Unit 12 Springmill Industrial Estate
Avening Road
Nailsworth
Gloucestershire
GL6 0BS





REGISTERED NUMBER: 02018085 (England and Wales)





ACCOUNTANTS: Randall & Payne LLP
Chartered Accountants
Chargrove House
Shurdington Road
Cheltenham
Gloucestershire
GL51 4GA

TRUTURN PRECISION ENGINEERING
(CHARFIELD) LIMITED (REGISTERED NUMBER: 02018085)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 685,598 679,552

CURRENT ASSETS
Stocks 71,349 102,437
Debtors 5 513,105 652,019
Cash at bank and in hand 147,495 216,022
731,949 970,478
CREDITORS
Amounts falling due within one year 6 585,858 661,880
NET CURRENT ASSETS 146,091 308,598
TOTAL ASSETS LESS CURRENT
LIABILITIES

831,689

988,150

CREDITORS
Amounts falling due after more than one
year

7

(106,753

)

(100,969

)

PROVISIONS FOR LIABILITIES (103,280 ) (100,002 )
NET ASSETS 621,656 787,179

CAPITAL AND RESERVES
Called up share capital 5,160 5,160
Capital redemption reserve 1,290 1,290
Retained earnings 615,206 780,729
621,656 787,179

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

TRUTURN PRECISION ENGINEERING
(CHARFIELD) LIMITED (REGISTERED NUMBER: 02018085)

BALANCE SHEET - continued
30 SEPTEMBER 2023


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 by the director and authorised for issue on 16 April 2024 and were signed by:





Mrs A Johnstrup - Director


TRUTURN PRECISION ENGINEERING
(CHARFIELD) LIMITED (REGISTERED NUMBER: 02018085)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. STATUTORY INFORMATION

Truturn Precision Engineering (Charfield) Limited is a private company, limited by shares,
registered in England & 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.

Revenue is recognised when the service has been provided and all obligations to the customers have been fulfilled.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Financial Instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


TRUTURN PRECISION ENGINEERING
(CHARFIELD) LIMITED (REGISTERED NUMBER: 02018085)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2. ACCOUNTING POLICIES - continued
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.

Provisions
Provisions are recognised only where a present obligation exists as a result of a past transaction or event at or prior to the balance sheet date. In addition, a provision is only recognised where the amounts involved can be reliably estimated. Where material, provisions are calculated on a discounted basis.

Going concern
The director has considered the risks and issues concerning the company and it's activities and no uncertainties that may cast significant doubt about the company's ability of the company to continue as a going concern have been identified by the director.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2022 - 27 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 October 2022 258,860 2,562,545 56,665 2,878,070
Additions - 108,222 3,041 111,263
At 30 September 2023 258,860 2,670,767 59,706 2,989,333
DEPRECIATION
At 1 October 2022 10,354 2,149,570 38,594 2,198,518
Charge for year 5,178 96,938 3,101 105,217
At 30 September 2023 15,532 2,246,508 41,695 2,303,735
NET BOOK VALUE
At 30 September 2023 243,328 424,259 18,011 685,598
At 30 September 2022 248,506 412,975 18,071 679,552

TRUTURN PRECISION ENGINEERING
(CHARFIELD) LIMITED (REGISTERED NUMBER: 02018085)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 430,700 519,156
Directors' loan accounts 15,959 56,611
Prepayments 66,446 76,252
513,105 652,019

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,562 10,000
Other loans 30,000 30,000
Hire purchase contracts 31,883 1,615
Trade creditors 187,667 171,476
Corporation Tax (25,412 ) 76,945
Social security and other taxes 19,681 21,801
Pensions 3,993 -
VAT 25,385 2,720
Other creditors 297,048 322,958
Accrued expenses 5,051 24,365
585,858 661,880

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 19,439 30,001
Other loans - 2-5 years 37,500 65,000
Hire purchase contracts 49,814 5,968
106,753 100,969

8. SECURED DEBTS

Other creditors of £297,047 (2022: £322,958 ) are secured against the company's debtor balances.

9. TRANSACTIONS WITH DIRECTORS

The following advances and credits to a director subsisted during the years ended 30 September 2023 and 30 September 2022:

2023 2022
£    £   
Mrs A Johnstrup
Balance outstanding at start of year 56,611 61,436
Amounts advanced 35,280 93,107
Amounts repaid (75,932 ) (97,932 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,959 56,611

TRUTURN PRECISION ENGINEERING
(CHARFIELD) LIMITED (REGISTERED NUMBER: 02018085)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

9. TRANSACTIONS WITH DIRECTORS - continued

Interest is being charged on this loan at the HMRC approved rate, and there are no set repayment terms.

10. OTHER FINANCIAL COMMITMENTS

The company had total commitments at the year end of £81,697 (2022: £7,583).