Caseware UK (AP4) 2023.0.135 2023.0.135 2023-09-302023-09-301falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true1No description of principal activity2022-10-01falsefalse 11572750 2022-10-01 2023-09-30 11572750 2021-10-01 2022-09-30 11572750 2023-09-30 11572750 2022-09-30 11572750 c:Director1 2022-10-01 2023-09-30 11572750 d:CurrentFinancialInstruments 2023-09-30 11572750 d:CurrentFinancialInstruments 2022-09-30 11572750 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 11572750 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 11572750 d:ShareCapital 2023-09-30 11572750 d:ShareCapital 2022-09-30 11572750 d:RetainedEarningsAccumulatedLosses 2023-09-30 11572750 d:RetainedEarningsAccumulatedLosses 2022-09-30 11572750 c:FRS102 2022-10-01 2023-09-30 11572750 c:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 11572750 c:FullAccounts 2022-10-01 2023-09-30 11572750 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 11572750 e:PoundSterling 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure
Registered number: 11572750



 
 
 
 
TURBOGRM LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
TURBOGRM LIMITED
REGISTERED NUMBER:11572750

BALANCE SHEET
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
233,572
230,636

Cash at bank and in hand
  
510
23,993

  
234,082
254,629

Creditors: amounts falling due within one year
 5 
(380,686)
(324,973)

Net current liabilities
  
 
 
(146,604)
 
 
(70,344)

Total assets less current liabilities
  
(146,604)
(70,344)


Capital and reserves
  

Allotted, called up and fully paid share capital
  
1
1

Profit and loss account
  
(146,605)
(70,345)

  
(146,604)
(70,344)


Page 1

 
TURBOGRM LIMITED
REGISTERED NUMBER:11572750
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023

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 have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 September 2024.





G Nezri
Director

Page 2

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

1.


General information

Turbogrm Limited is incorporated and domiciled in England and Wales.  The registered office is 20-22 Wenlock Road, London, N1 7GU.

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 company made a loss after tax for the year ended 30 September 2023 of £76,260 (2022: £61,232) resulting in an increase in the balance sheet deficit to £146,604 (2022: £70,344) at the balance sheet date.  However, of this deficit £374,461 is due to a connected company which has confirmed that it does not intend to seek repayment until the company has surplus and sufficient funds.
The director expects the company to be profitable in the medium term.  The connected company will continue its financial support for the foreseeable future such that the company is able to meet its ongoing liabilities as and when they fall due.
In light of this and after taking into account all information that could reasonably be expected to be available, the director is satisfied that the company will continue in operational existence for the foreseeable future, and that the going concern basis is appropriate for the preparation of the company's financial statements.

Page 3

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

2.Accounting policies (continued)

 
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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties.


3.


Employees

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

Page 4

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

4.


Debtors

2023
2022
£
£


Other debtors
233,572
230,636



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
3,106
2,400

Other creditors
374,460
320,173

Accruals and deferred income
3,120
2,400

380,686
324,973



6.


Related party transactions

Material balances with related parties arising during the year were as follows:
Debtor balances (included within other debtors):


2023
2022
£
£

G Nezri
114,916
114,916

The maximum balance due to the company during the year was £114,916.  
Nature of relationship and control
G Nezri is the sole director and shareholder of the company.

 
Page 5