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REGISTERED NUMBER: 03622909 (England and Wales)











TORR SCIENTIFIC LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2024






TORR SCIENTIFIC LIMITED (REGISTERED NUMBER: 03622909)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


TORR SCIENTIFIC LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST AUGUST 2024







DIRECTOR: D A Bates





REGISTERED OFFICE: Unit 11
Pebsham Rural Business Centre
Pebsham Lane
BEXHILL-ON-SEA
East Sussex
TN40 2RZ





REGISTERED NUMBER: 03622909 (England and Wales)





ACCOUNTANTS: Gibbons Mannington & Phipps LLP
Chartered Accountants
20 Eversley Road
Bexhill-on-Sea
East Sussex
TN40 1HE

TORR SCIENTIFIC LIMITED (REGISTERED NUMBER: 03622909)

BALANCE SHEET
31ST AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,323,354 1,246,538
1,323,354 1,246,538

CURRENT ASSETS
Stocks 361,137 420,959
Debtors 6 346,610 448,020
Cash at bank and in hand 3,310 35,629
711,057 904,608
CREDITORS
Amounts falling due within one year 7 1,007,541 982,278
NET CURRENT LIABILITIES (296,484 ) (77,670 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,026,870

1,168,868

CREDITORS
Amounts falling due after more than
one year

8

(219,478

)

(353,866

)

PROVISIONS FOR LIABILITIES (186,709 ) (182,027 )
NET ASSETS 620,683 632,975

CAPITAL AND RESERVES
Called up share capital 11 125 125
Revaluation reserve 12 188,740 188,740
Retained earnings 431,818 444,110
SHAREHOLDERS' FUNDS 620,683 632,975

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

TORR SCIENTIFIC LIMITED (REGISTERED NUMBER: 03622909)

BALANCE SHEET - continued
31ST AUGUST 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 director and authorised for issue on 17th January 2025 and were signed by:





D A Bates - Director


TORR SCIENTIFIC LIMITED (REGISTERED NUMBER: 03622909)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024


1. STATUTORY INFORMATION

Torr Scientific Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

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 five 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.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Computer equipment - 20% on cost

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

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.


TORR SCIENTIFIC LIMITED (REGISTERED NUMBER: 03622909)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2024


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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 42 (2023 - 42 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1st September 2023
and 31st August 2024 20,946
AMORTISATION
At 1st September 2023
and 31st August 2024 20,946
NET BOOK VALUE
At 31st August 2024 -
At 31st August 2023 -

TORR SCIENTIFIC LIMITED (REGISTERED NUMBER: 03622909)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST OR VALUATION
At 1st September 2023 1,194,108 190,388 72,037 1,456,533
Additions 79,970 9,167 54,646 143,783
At 31st August 2024 1,274,078 199,555 126,683 1,600,316
DEPRECIATION
At 1st September 2023 62,896 89,269 57,830 209,995
Charge for year 40,000 11,029 15,938 66,967
At 31st August 2024 102,896 100,298 73,768 276,962
NET BOOK VALUE
At 31st August 2024 1,171,182 99,257 52,915 1,323,354
At 31st August 2023 1,131,212 101,119 14,207 1,246,538

Cost or valuation at 31st August 2024 is represented by:

Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
Valuation in 2019 22,886 - - 22,886
Cost 1,251,192 199,555 126,683 1,577,430
1,274,078 199,555 126,683 1,600,316

If the plant and machinery had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 785,306 785,306
Aggregate depreciation 289,097 289,097

Plant and machinery was valued on an open market basis on 31st August 2019 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 282,279 365,836
Other debtors 64,331 82,184
346,610 448,020

TORR SCIENTIFIC LIMITED (REGISTERED NUMBER: 03622909)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 205,735 237,182
Finance leases (see note 9) 51,951 56,543
Payments on account 192,548 191,867
Trade creditors 237,876 242,438
Taxation and social security 54,715 56,544
Other creditors 264,716 197,704
1,007,541 982,278

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Finance leases (see note 9) 65,536 99,576
Other creditors 153,942 254,290
219,478 353,866

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases
2024 2023
£    £   
Net obligations repayable:
Within one year 51,951 56,543
Between one and five years 65,536 99,576
117,487 156,119

The company also has future operating lease commitments of £36,538 (2023: £84,038) relating to property leasing and £39,749 (2023: £8,299) relating to motor vehicle leasing.

TORR SCIENTIFIC LIMITED (REGISTERED NUMBER: 03622909)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2024


10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 205,735 228,640
Bank loans - 8,542
Other loans 330,958 381,305
Finance leases 117,487 156,119
654,180 774,606

The bank overdraft and loans are secured on a fixed and floating charge on the assets of the company.

The finance leases and hire purchase are secured on the assets to which they relate.

The other overdraft and loans are secured by a personal guarantee by the director.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary A £1 100 100
25 Ordinary B - Non-voting, Non-p £1 25 25
125 125

12. RESERVES
Revaluati
reserve
£   
At 1st September 2023
and 31st August 2024 188,740