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Registered number: 13420023










TURBO TOOL HIRE LIMITED








UNAUDITED

DIRECTOR'S REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
TURBO TOOL HIRE LIMITED
 
 
COMPANY INFORMATION


Director
Mr R O Hutchinson 




Registered number
13420023



Registered office
White House Farm
Snady Lane West

Billingham

TS22 5NB




Accountants
Waltons Business Advisers Limited
Chartered Accountants

Maritime House

Harbour Walk

The Marina

Hartlepool

Teesside

TS24 0UX





 
TURBO TOOL HIRE LIMITED
 

CONTENTS



Page
Director's report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Notes to the financial statements
5 - 7


 
TURBO TOOL HIRE LIMITED
 
 
 
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

The director presents his report and the financial statements for the year ended 31 December 2023.

Director

The director who served during the year was:

Mr R O Hutchinson 

Small companies note

In preparing this report, the director has taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





Mr R O Hutchinson
Director

Date: 15 August 2024

Page 1

 
TURBO TOOL HIRE LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF TURBO TOOL HIRE LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Turbo Tool Hire Limited for the year ended 31 December 2023 which comprise the profit and loss account, the balance sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Turbo Tool Hire Limited in accordance with the terms of our engagement letter signed 14 June 2024Our work has been undertaken solely to prepare for your approval the financial statements of Turbo Tool Hire Limited and state those matters that we have agreed to state to the director of Turbo Tool Hire Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Turbo Tool Hire Limited and its director for our work or for this report. 

It is your duty to ensure that Turbo Tool Hire Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Turbo Tool Hire Limited. You consider that Turbo Tool Hire Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Turbo Tool Hire Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Waltons Business Advisers Limited
 
Chartered Accountants
  
21 August 2024
Page 2

 
TURBO TOOL HIRE LIMITED
 
 
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023

2023
2022
£
£


Turnover
12,748
23,858

Cost of sales
(7,394)
(17,350)

Gross profit
5,354
6,508

Distribution costs
(250)
(833)

Administrative expenses
(5,047)
(5,464)

Operating profit
57
211

Profit for the financial year
57
211

There are no items of other comprehensive income for 2023 or 2022 other than the profit for the yearAs a result, no separate Statement of Comprehensive Income has been presented.

The notes on pages 5 to 7 form part of these financial statements.

Page 3

 
TURBO TOOL HIRE LIMITED
REGISTERED NUMBER: 13420023

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
  
2,294
2,294

Debtors: amounts falling due within one year
 4 
550
10,746

Cash at bank and in hand
 5 
29,604
12,029

  
32,448
25,069

Creditors: amounts falling due within one year
 6 
(32,424)
(25,101)

Net current assets/(liabilities)
  
 
 
24
 
 
(32)

  

Net assets/(liabilities)
  
24
(32)


Capital and reserves
  

Called up share capital 
  
200
200

Profit and loss account
  
(176)
(232)

  
24
(32)


The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 August 2024.




Mr R O Hutchinson
Director

The notes on pages 5 to 7 form part of these financial statements.

Page 4

 
TURBO TOOL HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The company is a private company, limited by shares, incorporated in England and Wales and its registered office is:-
White House Farm
Sandy Lane West
Billingham
Stockton on Tees
TS22 5NB
The immediate and ultimate parent company is Arrowcruit Holdings Limited.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The director, having made due and careful enquiry, is of the opinion that the company, has adequate working capital to execute its operations over the next 12 months. The director, therefore, has made an informed judgement, at the time of approving the financial statements, that there is reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. As a result the director has continued to adopt the going concern basis of accounting in preparing the annual financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 5

 
TURBO TOOL HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Debtors

2023
2022
£
£


Trade debtors
-
10,546

Amounts owed by group undertakings
200
-

Other debtors
350
-

Called up share capital not paid
-
200

550
10,746



5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
29,604
12,029

29,604
12,029



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
306
17,262

Amounts owed to group undertakings
31,035
5,693

Other taxation and social security
-
2,146

Other creditors
1,083
-

32,424
25,101


Page 6

 
TURBO TOOL HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Related party transactions

During the year the company made purchases of £4,900 to a company in which the director has an interest.
At the 31 December 2023 the amount outstanding to companies in which the director has an interest is
£31,035 (1 January 2023: £5,693).


8.


Controlling party

The company's ultimate parent company is Arrowcruit Holdings Limited (address: White House Farm, Sandy Lane West, Billingham, Stockton on Tees, TS22 5NB) a company incorporated in England and Wales.
The consolidated financial statements for the group are publicly available from Companies House, Crown Way, Maindy, Cardiff.

 
Page 7