2022-05-012023-04-302023-04-30false03353641TURBOACTIVE 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TURBOACTIVE LIMITED

Registered Number
03353641
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2023

TURBOACTIVE LIMITED
Company Information
for the year from 1 May 2022 to 30 April 2023

Director

WATSON, Mark

Company Secretary

CURRY, Nicola

Registered Address

Evolution Wynyard Avenue
Wynyard Business Park
Billingham
TS22 5TB

Registered Number

03353641 (England and Wales)
TURBOACTIVE LIMITED
Balance Sheet as at
30 April 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets5165,59683,977
165,59683,977
Current assets
Stocks2,816,0071,371,860
Debtors7896,0641,348,320
Cash at bank and on hand563,819502,972
4,275,8903,223,152
Creditors amounts falling due within one year8(1,259,198)(840,211)
Net current assets (liabilities)3,016,6922,382,941
Total assets less current liabilities3,182,2882,466,918
Net assets3,182,2882,466,918
Capital and reserves
Called up share capital5,1035,103
Profit and loss account3,177,1852,461,815
Shareholders' funds3,182,2882,466,918
The financial statements were approved and authorised for issue by the Director on 29 January 2024, and are signed on its behalf by:
WATSON, Mark
Director
Registered Company No. 03353641
TURBOACTIVE LIMITED
Notes to the Financial Statements
for the year ended 30 April 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery15
Fixtures and fittings25
Vehicles25
Office Equipment25
Stocks policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year119
5.Property, plant and equipment

Total

£
Cost or valuation
At 01 May 22329,810
Additions92,271
At 30 April 23422,081
Depreciation and impairment
At 01 May 22245,833
Charge for year10,652
At 30 April 23256,485
Net book value
At 30 April 23165,596
At 30 April 2283,977
6.Description of nature of transactions and balances with related parties
Supplies of goods and services, at arm's length, from/(to) businesses in which directors have interests were as follows: 2023 2022 £ £ M Watson - Direct Sports Ltd 17,187 (13,296) M Watson - M Watson Property 44,946 36,282 At the Balance Sheet date, amounts were due from/(to) businesses in which directors have interests as follows: 2023 2022 £ £ M Watson -Direct Sports Ltd (399,162) (155,517) M Watson -M Watson Property 0 0
7.Debtors

2023

2022

££
Trade debtors / trade receivables795,2591,317,619
Other debtors1,7071,706
Prepayments and accrued income99,09828,995
Total896,0641,348,320
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables925,100510,025
Taxation and social security330,503304,498
Accrued liabilities and deferred income3,59525,688
Total1,259,198840,211
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.