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REGISTERED NUMBER: 01897769 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 July 2023

for

Turbostyle Coaches Limited

Turbostyle Coaches Limited (Registered number: 01897769)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Turbostyle Coaches Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: T Bloomfield
M A Clayson





REGISTERED OFFICE: 4 Riverview Walnut Tree Close
Guildford
Surrey
GU1 4UX





REGISTERED NUMBER: 01897769 (England and Wales)





ACCOUNTANTS: Bristow Burrell
4 Riverview
Walnut Tree Close
Guildford
Surrey
GU1 4UX

Turbostyle Coaches Limited (Registered number: 01897769)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,316,708 1,518,777

CURRENT ASSETS
Debtors 6 1,440,846 1,270,340
Cash at bank and in hand 166,619 137,445
1,607,465 1,407,785
CREDITORS
Amounts falling due within one
year

7

421,698

288,904
NET CURRENT ASSETS 1,185,767 1,118,881
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,502,475

2,637,658

CREDITORS
Amounts falling due after more
than one year

8

(865,372

)

(1,029,375

)

PROVISIONS FOR LIABILITIES (205,313 ) (234,330 )
NET ASSETS 1,431,790 1,373,953

CAPITAL AND RESERVES
Called up share capital 9 32 32
Other reserves 68 68
Retained earnings 1,431,690 1,373,853
SHAREHOLDERS' FUNDS 1,431,790 1,373,953

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 February 2024 and were signed on its behalf by:





M A Clayson - Director


Turbostyle Coaches Limited (Registered number: 01897769)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Turbostyle Coaches 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

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.

Turbostyle Coaches Limited (Registered number: 01897769)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2022 - 11 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022 3,405,018
Additions 40,661
Disposals (115,719 )
At 31 July 2023 3,329,960
DEPRECIATION
At 1 August 2022 1,886,241
Charge for year 242,140
Eliminated on disposal (115,129 )
At 31 July 2023 2,013,252
NET BOOK VALUE
At 31 July 2023 1,316,708
At 31 July 2022 1,518,777

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

Plant and
machinery
etc
£   
COST
At 1 August 2022 3,379,695
Disposals (110,600 )
At 31 July 2023 3,269,095
DEPRECIATION
At 1 August 2022 1,871,210
Charge for year 233,921
Eliminated on disposal (110,600 )
At 31 July 2023 1,994,531
NET BOOK VALUE
At 31 July 2023 1,274,564
At 31 July 2022 1,508,485

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 138,846 115,400
Amounts owed by group undertakings 1,302,000 1,137,000
Other debtors - 17,940
1,440,846 1,270,340

Turbostyle Coaches Limited (Registered number: 01897769)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 44,677 -
Hire purchase contracts 166,293 164,626
Trade creditors 94,839 109,079
Amounts owed to group undertakings 25,000 -
Taxation and social security 78,374 9,611
Other creditors 12,515 5,588
421,698 288,904

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 119,407 -
Hire purchase contracts 745,965 1,029,375
865,372 1,029,375

Amounts falling due in more than five years:

Repayable by instalments
Hire purchase - 20,626

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
32 Ordinary £1 32 32

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party of the company is The Ready Group Limited by virtue of its 100% interest of the share capital of the company.