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REGISTERED NUMBER: SC214219 (Scotland)





















Unaudited Financial Statements

For The Year Ended 29 February 2024

for

T.P.S. Engineering Limited

T.P.S. Engineering Limited (Registered number: SC214219)






Contents of the Financial Statements
For The Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

T.P.S. Engineering Limited

Company Information
For The Year Ended 29 February 2024







DIRECTORS: J G Manuel
A Manuel





SECRETARY: J G Manuel





REGISTERED OFFICE: 84 Dykehead Street
Queenslie Industrial Estate
GLASGOW
G33 4AQ





REGISTERED NUMBER: SC214219 (Scotland)





ACCOUNTANTS: Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH

T.P.S. Engineering Limited (Registered number: SC214219)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 13,494 8,250
13,494 8,250

CURRENT ASSETS
Stocks 174,412 85,345
Debtors 6 85,560 42,728
Cash at bank 113 103,722
260,085 231,795
CREDITORS
Amounts falling due within one year 7 189,513 165,751
NET CURRENT ASSETS 70,572 66,044
TOTAL ASSETS LESS CURRENT
LIABILITIES

84,066

74,294

CREDITORS
Amounts falling due after more than one
year

8

(28,704

)

(42,103

)

PROVISIONS FOR LIABILITIES 9 (2,468 ) -
NET ASSETS 52,894 32,191

CAPITAL AND RESERVES
Called up share capital 70,000 70,000
Retained earnings (17,106 ) (37,809 )
SHAREHOLDERS' FUNDS 52,894 32,191

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

T.P.S. Engineering Limited (Registered number: SC214219)

Balance Sheet - continued
29 February 2024


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 28 November 2024 and were signed on its behalf by:





J G Manuel - Director


T.P.S. Engineering Limited (Registered number: SC214219)

Notes to the Financial Statements
For The Year Ended 29 February 2024

1. STATUTORY INFORMATION

T.P.S. Engineering Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis which the director believes is appropriate. The company is supported by loans from the directors and the directors have confirmed that he will not seek repayment of this loan until such times as the company has sufficient available funds.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Motor vehicles - 15% on reducing balance
Computer equipment - 20% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and Bank Balances
Cash and bank balances are measured at the transaction price.


T.P.S. Engineering Limited (Registered number: SC214219)

Notes to the Financial Statements - continued
For The Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2023
and 29 February 2024 135,896
AMORTISATION
At 1 March 2023
and 29 February 2024 135,896
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

T.P.S. Engineering Limited (Registered number: SC214219)

Notes to the Financial Statements - continued
For The Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2023 55,896 28,595 7,594 92,085
Additions 8,950 - - 8,950
Disposals - - (3,096 ) (3,096 )
At 29 February 2024 64,846 28,595 4,498 97,939
DEPRECIATION
At 1 March 2023 53,238 25,732 4,865 83,835
Charge for year 2,321 430 900 3,651
Eliminated on disposal - - (3,041 ) (3,041 )
At 29 February 2024 55,559 26,162 2,724 84,445
NET BOOK VALUE
At 29 February 2024 9,287 2,433 1,774 13,494
At 28 February 2023 2,658 2,863 2,729 8,250

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST
At 1 March 2023 28,595
Transfer to ownership (28,595 )
At 29 February 2024 -
DEPRECIATION
At 1 March 2023 25,732
Transfer to ownership (25,732 )
At 29 February 2024 -
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 2,863

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 83,440 21,862
Other debtors 2,120 20,866
85,560 42,728

T.P.S. Engineering Limited (Registered number: SC214219)

Notes to the Financial Statements - continued
For The Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 58,407 17,563
Trade creditors 21,888 59,811
Taxation and social security 16,961 5,521
Other creditors 92,257 82,856
189,513 165,751

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 28,704 42,103

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 6,481 12,037

9. PROVISIONS FOR LIABILITIES
29.2.24 28.2.23
£    £   
Deferred tax 2,468 -

Deferred
tax
£   
Charge to Income Statement during year 2,468
Balance at 29 February 2024 2,468

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
T.P.S. Engineering Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of T.P.S. Engineering Limited for the year ended 29 February 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of T.P.S. Engineering Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of T.P.S. Engineering Limited and state those matters that we have agreed to state to the Board of Directors of T.P.S. Engineering Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that T.P.S. Engineering 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 T.P.S. Engineering Limited. You consider that T.P.S. Engineering Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of T.P.S. Engineering 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.






Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH


28 November 2024