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REGISTERED NUMBER: 11076942 (England and Wales)















Unaudited Financial Statements

for the Year Ended

30 November 2023

for

TPI Aerospace Ltd

TPI Aerospace Ltd (Registered number: 11076942)

Contents of the Financial Statements
for the Year Ended 30 November 2023










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


TPI Aerospace Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTORS: G G Smith
S Smith





REGISTERED OFFICE: Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP





REGISTERED NUMBER: 11076942 (England and Wales)





ACCOUNTANTS: The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
TPI Aerospace Ltd


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 TPI Aerospace Ltd for the year ended 30 November 2023 which comprise the Income Statement, 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of TPI Aerospace Ltd, 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 TPI Aerospace Ltd and state those matters that we have agreed to state to the Board of Directors of TPI Aerospace Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than TPI Aerospace Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that TPI Aerospace Ltd 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 TPI Aerospace Ltd. You consider that TPI Aerospace Ltd 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 TPI Aerospace Ltd. 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.






The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP


28 November 2024

TPI Aerospace Ltd (Registered number: 11076942)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 42,569 85,349

CURRENT ASSETS
Stocks 170,000 210,000
Debtors 5 65,367 29,670
Cash at bank 13,294 305,861
248,661 545,531
CREDITORS
Amounts falling due within one year 6 159,907 596,378
NET CURRENT ASSETS/(LIABILITIES) 88,754 (50,847 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

131,323

34,502

CREDITORS
Amounts falling due after more than
one year

7

30,329

38,875
NET ASSETS/(LIABILITIES) 100,994 (4,373 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 100,894 (4,473 )
SHAREHOLDERS' FUNDS 100,994 (4,373 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

TPI Aerospace Ltd (Registered number: 11076942)

Balance Sheet - continued
30 November 2023


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:





G G Smith - Director


TPI Aerospace Ltd (Registered number: 11076942)

Notes to the Financial Statements
for the Year Ended 30 November 2023


1. STATUTORY INFORMATION

TPI Aerospace Ltd is a private company, limited by shares , registered in England and Wales. 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.

Turnover
Turnover is recognised in the accounts when the goods are delivered to the customer, and are stated net of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - as specified in the terms of the lease
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% straight line basis

Depreciation is provided from the month of acquisition.

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

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.


TPI Aerospace Ltd (Registered number: 11076942)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account on a sum of digits basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 December 2022 16,908 232,950 10,754
Additions 17,033 9,869 990
Disposals (16,908 ) (101,000 ) -
At 30 November 2023 17,033 141,819 11,744
DEPRECIATION
At 1 December 2022 16,513 154,147 8,119
Charge for year 3,407 28,365 1,880
Eliminated on disposal (16,513 ) (67,333 ) -
At 30 November 2023 3,407 115,179 9,999
NET BOOK VALUE
At 30 November 2023 13,626 26,640 1,745
At 30 November 2022 395 78,803 2,635

TPI Aerospace Ltd (Registered number: 11076942)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 December 2022 14,828 4,922 280,362
Additions - 765 28,657
Disposals (500 ) - (118,408 )
At 30 November 2023 14,328 5,687 190,611
DEPRECIATION
At 1 December 2022 11,421 4,813 195,013
Charge for year 3,283 316 37,251
Eliminated on disposal (376 ) - (84,222 )
At 30 November 2023 14,328 5,129 148,042
NET BOOK VALUE
At 30 November 2023 - 558 42,569
At 30 November 2022 3,407 109 85,349

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 12,374 29,670
Other debtors 1,859 -
Directors' current accounts 46,378 -
Prepayments and accrued income 4,756 -
65,367 29,670

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 5,567 5,555
Hire purchase contracts 2,990 17,148
Trade creditors 81,210 51,507
Social security and other taxes 33,948 33,918
VAT 31,384 27,344
Other creditors 952 354,317
Directors' current accounts - 103,489
Accruals and deferred income 3,856 3,100
159,907 596,378

TPI Aerospace Ltd (Registered number: 11076942)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans - 1-2 years 5,555 5,555
Bank loans - 2-5 years 16,667 16,667
Bank loans more than 5 years 8,107 13,663
Hire purchase contracts - 2,990
30,329 38,875

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 8,107 13,663

8. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Hire purchase contracts 2,990 20,138

Amounts held under hire purchase agreements are secured against the assets to which they relate.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
100 Ordinary £1 100 100

10. OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the balance sheet date of £Nil (2021 - £10,500).

TPI Aerospace Ltd (Registered number: 11076942)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022:

30.11.23 30.11.22
£    £   
G G Smith
Balance outstanding at start of year - -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 46,378 -

The loan is on an interest free basis and is repayable on demand.