Registered number
14802338
Torres Pumps Holdings Limited
Filleted Accounts
31 March 2024
Torres Pumps Holdings Limited
Registered number: 14802338
Balance Sheet
as at 31 March 2024
Notes 2024
Fixed assets
Tangible assets 3 284,389
Investments 4 100
284,489
Current assets
Debtors 5 40,000
Cash at bank and in hand 895
40,895
Creditors: amounts falling due within one year 6 (40,000)
Net current assets 895
Net assets 285,384
Capital and reserves
Called up share capital 100
Profit and loss account 285,284
Shareholders' funds 285,384
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K L Torres
Director
Approved by the board on 25 October 2024
Torres Pumps Holdings Limited
Notes to the Accounts
for the period from 14 April 2023 to 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 2% of cost
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024
Number
Average number of persons employed by the company 0
3 Tangible fixed assets
Land and buildings
Cost
Hived up from subsidiary company 654,860
At 31 March 2024 654,860
Depreciation
Hived up from subsidiary company 357,374
Charge for the period 13,097
At 31 March 2024 370,471
Net book value
At 31 March 2024 284,389
On 11 January 2024 a freehold property previously owned by Torres Engineering & Pumps Limited, a 100% subsidiary, was hived up to this company by way of dividend in specie.
4 Investments
Investments in
subsidiary
undertakings
Cost
Additions 100
At 31 March 2024 100
5 Debtors 2024
Amounts owed by group undertakings and undertakings in which the company has a participating interest 40,000
6 Creditors: amounts falling due within one year 2024
Other creditors 40,000
7 Related party transactions
On 11 January 2024, a freehold property was hived up to this company from Torres Engineering and Pumps Limited, a 100% subsidiary, by way of a dividend in specie. During the period the company received total dividends from Torres Engineering and Pumps Limited of £338,486.The amount owing to the company by Torres Engineering & Pumps Limited at 31 March 2024 was £40,000.
8 Controlling party
The controlling party is K L Torres.
9 Other information
Torres Pumps Holdings Limited is a private company limited by shares and incorporated in England. Its registered office is:
448 Brightside Lane
Newall
Sheffield
South Yorkshire
S9 2SP
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