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Registration number: 06810857

Turbine Transfers Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Turbine Transfers Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 4

 

Turbine Transfers Limited

Company Information

Directors

A Darroch

J M Meade

J R Burns

M B Gould

Company secretary

M B Gould

Registered office

Newry Beach Yard
Newry Beach
Holyhead
Anglesey
LL65 1YB

Accountants

Aston Hughes & Co
Chartered Accountants
Selby Towers
29 Princes Drive
Colwyn Bay
LL29 8PE

 

Turbine Transfers Limited

(Registration number: 06810857)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Capital and reserves

 

Called up share capital

4

1

1

Retained earnings

(1)

(1)

Shareholders' funds/(deficit)

 

-

-

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Trading status
The company was dormant and has not traded during the year.

Approved and authorised by the Board on 29 July 2024 and signed on its behalf by:
 

.........................................
M B Gould
Company secretary and director

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Turbine Transfers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Newry Beach Yard
Newry Beach
Holyhead
Anglesey
LL65 1YB
United Kingdom

These financial statements were authorised for issue by the Board on 29 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.


Trading status
The company was dormant and has not traded during the year. There were no transactions affecting the profit and loss account in the current period.

Summary of disclosure exemptions

In accordance with FRS 102, the company has taken advantage of the exemptions from the following disclosure requirements:

- Section 33 'Related Party Disclosures' - Compensation for key management personnel, and the disclosure exemptions from paragraph 33.1A from disclosing transactions entered into between two or more members of a group.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
- The amount of revenue can be reliably measured and;
- It is probable that future economic benefits will flow to the entity.

 

Turbine Transfers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Foreign currency transactions and balances

Transactions in foreign currencies are recorded at a standard exchange rate, the profit or loss on exchange is recorded once the balance has been settled, monetary assets and liabilities denominated in foreign currencies are re-translated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Depreciation

Asset class

Depreciation method and rate

Other property, plant and equipment

15-26 years

Motor vehicles

20% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

         

5

Parent and ultimate parent undertaking

The company's immediate parent is Holyhead Towing Company Limited, incorporated in England and Wales.

 The ultimate parent is Holyhead Boatyard Limited, incorporated in England and Wales.

 The most senior parent entity producing publicly available financial statements is Holyhead Boatyard Limited. These financial statements are available upon request from Newry Beach Yard, Newry Beach, Holyhead, LL65 1YB, the group accounts are also publically available from Companies House.

 The ultimate controlling party is Holyhead Boatyard Limited.