Turbo Systems Engineering Limited 10693367 true 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is manufacturing of food depositors and filling systems Digita Accounts Production Advanced 6.30.9574.0 true true true 10693367 2023-02-01 2024-01-31 10693367 2024-01-31 10693367 bus:OrdinaryShareClass1 2024-01-31 10693367 core:RetainedEarningsAccumulatedLosses 2024-01-31 10693367 core:ShareCapital 2024-01-31 10693367 core:CurrentFinancialInstruments 2024-01-31 10693367 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 10693367 core:FurnitureFittingsToolsEquipment 2024-01-31 10693367 bus:SmallEntities 2023-02-01 2024-01-31 10693367 bus:Audited 2023-02-01 2024-01-31 10693367 bus:FullAccounts 2023-02-01 2024-01-31 10693367 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 10693367 bus:RegisteredOffice 2023-02-01 2024-01-31 10693367 bus:Director1 2023-02-01 2024-01-31 10693367 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 10693367 bus:EntityNoLongerTradingButTradedInPast 2023-02-01 2024-01-31 10693367 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 10693367 core:FurnitureFittings 2023-02-01 2024-01-31 10693367 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 10693367 1 2023-02-01 2024-01-31 10693367 countries:England 2023-02-01 2024-01-31 10693367 2023-01-31 10693367 core:FurnitureFittingsToolsEquipment 2023-01-31 10693367 2022-02-01 2023-01-31 10693367 2023-01-31 10693367 bus:OrdinaryShareClass1 2023-01-31 10693367 core:RetainedEarningsAccumulatedLosses 2023-01-31 10693367 core:ShareCapital 2023-01-31 10693367 core:CurrentFinancialInstruments 2023-01-31 10693367 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 10693367 core:FurnitureFittingsToolsEquipment 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10693367

Turbo Systems Engineering Limited

Filleted Financial Statements

for the Year Ended 31 January 2024

 

Turbo Systems Engineering Limited

(Registration number: 10693367)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

144,121

752

Current assets

 

Stocks

356,208

-

Debtors

5

338,537

-

Cash at bank and in hand

 

263,203

-

 

957,948

-

Creditors: Amounts falling due within one year

6

(1,651,453)

(1,350)

Net current liabilities

 

(693,505)

(1,350)

Net liabilities

 

(549,384)

(598)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(549,484)

(698)

Shareholders' deficit

 

(549,384)

(598)

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.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 October 2024
 


Mr P Wilson
Director

   
 

Turbo Systems Engineering Limited

Notes to the Financial Statements for the Year Ended 31 January 2024

1

General information

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

The address of its registered office is:
1 Gillet Street
Hull
HU3 4JA

The company's registration number is 10693367.

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.

Going concern

The financial statements have been prepared on a going concern basis which assumes the continued financial support of the parent company.

Audit report

The Independent Auditor's Report was qualified. We were unable to satisfy ourselves concerning the inventory valuation held at 31 January 2024, which is included in the balance sheet at that date at £306,974. Consequently we were unable to determine whether any adjustment to this amount was necessary.

The name of the Senior Statutory Auditor who signed the audit report on 31 October 2024 was John Heeney BA (Hons) FCA, who signed for and on behalf of RNS Chartered Accountants.

Revenue recognition

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

The company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

 

Turbo Systems Engineering Limited

Notes to the Financial Statements for the Year Ended 31 January 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

20% per annum on written down value

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. 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 the director) during the year was 51 (2023 - 0).

 

Turbo Systems Engineering Limited

Notes to the Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Fixtures & fittings
 £

Total
£

Cost or valuation

At 1 February 2023

2,190

2,190

Additions

170,442

170,442

Disposals

(2,190)

(2,190)

At 31 January 2024

170,442

170,442

Depreciation

At 1 February 2023

1,438

1,438

Charge for the year

26,321

26,321

Eliminated on disposal

(1,438)

(1,438)

At 31 January 2024

26,321

26,321

Carrying amount

At 31 January 2024

144,121

144,121

At 31 January 2023

752

752

5

Debtors

Current

2024
£

2023
£

Trade debtors

263,969

-

Prepayments

69,461

-

Other debtors

5,107

-

 

338,537

-

6

Creditors

2024
£

2023
£

Due within one year

Trade payables

41,869

-

Amounts due to related parties

1,472,942

-

Social security and other taxes

40,500

-

Other payables

96,142

1,350

1,651,453

1,350

 

Turbo Systems Engineering Limited

Notes to the Financial Statements for the Year Ended 31 January 2024

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

8

Parent and ultimate parent undertaking

The company's immediate parent is Allied Protek Engineering Solutions Limited, incorporated in England.

 The ultimate parent is Allied Protek Engineering Solutions Limited, incorporated in England.

 

The parent of the largest group in which these financial statements are consolidated is Allied Protek Engineering Solutions Limited, incorporated in England.

The address of Allied Protek Engineering Solutions Limited is:
Allied Protek Building
Armstrong Street
Grimsby
North East Lincolnshire
DN31 1XD