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TURBOACTIVE LIMITED

Registered Number
03353641
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

TURBOACTIVE LIMITED
Company Information
for the year from 1 May 2023 to 30 April 2024

Director

WATSON, Mark

Company Secretary

CURRY, Nicola

Registered Address

Evolution Wynyard Avenue
Wynyard Business Park
Billingham
TS22 5TB

Registered Number

03353641 (England and Wales)
TURBOACTIVE LIMITED
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3146,635165,596
146,635165,596
Current assets
Stocks42,728,1212,816,007
Debtors5969,074896,063
Cash at bank and on hand567,211563,819
4,264,4064,275,889
Creditors amounts falling due within one year6(1,139,382)(1,259,197)
Net current assets (liabilities)3,125,0243,016,692
Total assets less current liabilities3,271,6593,182,288
Net assets3,271,6593,182,288
Capital and reserves
Called up share capital5,1035,103
Profit and loss account3,266,5563,177,185
Shareholders' funds3,271,6593,182,288
The financial statements were approved and authorised for issue by the Director on 21 January 2025, and are signed on its behalf by:
WATSON, Mark
Director
Registered Company No. 03353641
TURBOACTIVE LIMITED
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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).
Revenue from sale of goods
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery15
Fixtures and fittings15
Vehicles25
Office Equipment25
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year1111
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 May 23267,76012,390141,931422,081
Additions399--399
At 30 April 24268,15912,390141,931422,480
Depreciation and impairment
At 01 May 23121,15311,465123,867256,485
Charge for year16,4302312,69919,360
At 30 April 24137,58311,696126,566275,845
Net book value
At 30 April 24130,57669415,365146,635
At 30 April 23146,60792518,064165,596
4.Stocks

2024

2023

££
Finished goods2,728,1212,816,007
Total2,728,1212,816,007
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables556,404795,259
Other debtors1,7071,706
Prepayments and accrued income410,96399,098
Total969,074896,063
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables962,881925,100
Taxation and social security117,478330,502
Accrued liabilities and deferred income59,0233,595
Total1,139,3821,259,197
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.
7.Related party transactions
Supplies of goods and services, at arm's length, from/(to) businesses in which directors have interests were as follows: 2024 2023 £ £ M Watson - Direct Sports Ltd 37,342 17,187 M Watson - M Watson Property 48,000 44,946 At the Balance Sheet date, amounts were due from/(to) businesses in which directors have interests as follows: 2024 2023 £ £ M Watson -Direct Sports Ltd (721,357) (399,162) M Watson -M Watson Property 0 0