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REGISTERED NUMBER: 01629716 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

TRANSPOWER DRIVES LIMITED

TRANSPOWER DRIVES LIMITED (REGISTERED NUMBER: 01629716)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TRANSPOWER DRIVES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: C Linnitt
M Watson
I R Tilley





SECRETARY: Mrs E Bugby





REGISTERED OFFICE: 4 Bridle Close
Stewarts Road
Finedon Road Industrial Estate
Wellingborough
Northamptonshire
NN8 4RN





REGISTERED NUMBER: 01629716 (England and Wales)





ACCOUNTANTS: Philip Barnes & Co Limited
Chartered Accountants
The Old Council Chambers
Halford Street
Tamworth
Staffordshire
B79 7RB

TRANSPOWER DRIVES LIMITED (REGISTERED NUMBER: 01629716)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 219,823 197,909
Investments 6 9,100 9,100
228,923 207,009

CURRENT ASSETS
Stocks 510,236 518,595
Debtors 7 369,893 436,038
Cash at bank and in hand 1,121,480 809,174
2,001,609 1,763,807
CREDITORS
Amounts falling due within one year 8 469,976 473,562
NET CURRENT ASSETS 1,531,633 1,290,245
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,760,556

1,497,254

CREDITORS
Amounts falling due after more than one
year

9

(28,266

)

(65,067

)

PROVISIONS FOR LIABILITIES (53,250 ) (46,000 )
NET ASSETS 1,679,040 1,386,187

CAPITAL AND RESERVES
Called up share capital 11 253 253
Capital redemption reserve 60 60
Retained earnings 1,678,727 1,385,874
SHAREHOLDERS' FUNDS 1,679,040 1,386,187

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

TRANSPOWER DRIVES LIMITED (REGISTERED NUMBER: 01629716)

BALANCE SHEET - continued
31 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 February 2025 and were signed on its behalf by:





M Watson - Director


TRANSPOWER DRIVES LIMITED (REGISTERED NUMBER: 01629716)

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

1. STATUTORY INFORMATION

Transpower Drives 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.

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 significant accounting policies applied in the preparation of the financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated.

Preparation of consolidated financial statements
The financial statements contain information about Transpower Drives Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents revenue recognised by the company in respect of goods and services supplied during the period, excluding value added tax.

Goodwill
Goodwill paid in connection with the acquisition of a business in 2000 was amortised evenly over its estimated useful life of ten years.

Goodwill paid in connection with the acquisition of a business in 2013 has been amortised in full in the year of acquisition.

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 - Evenly over the period of the lease
Plant and machinery - 15% reducing balance
Fixtures and fittings - 20% on cost, 15% reducing balance and straight line over 3 years
Motor vehicles - 25% reducing balance

Investments in subsidiaries
Investments in shares in subsidiaries are included at cost less impairment.

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 Profit and Loss Account, 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.


TRANSPOWER DRIVES LIMITED (REGISTERED NUMBER: 01629716)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 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

The average number of employees during the year was 17 (2023 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 22,039
AMORTISATION
At 1 September 2023
and 31 August 2024 22,039
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

TRANSPOWER DRIVES LIMITED (REGISTERED NUMBER: 01629716)

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

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 September 2023 21,188 356,828 149,948 18,562 546,526
Additions - 62,869 811 - 63,680
Disposals - - (2,325 ) - (2,325 )
At 31 August 2024 21,188 419,697 148,434 18,562 607,881
DEPRECIATION
At 1 September 2023 12,437 196,600 121,828 17,752 348,617
Charge for year 1,449 24,932 14,540 202 41,123
Eliminated on disposal - - (1,682 ) - (1,682 )
At 31 August 2024 13,886 221,532 134,686 17,954 388,058
NET BOOK VALUE
At 31 August 2024 7,302 198,165 13,748 608 219,823
At 31 August 2023 8,751 160,228 28,120 810 197,909

6. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 September 2023
and 31 August 2024 490,766 3,000 493,766
PROVISIONS
At 1 September 2023
and 31 August 2024 484,666 - 484,666
NET BOOK VALUE
At 31 August 2024 6,100 3,000 9,100
At 31 August 2023 6,100 3,000 9,100

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 327,502 404,387
Other debtors 42,391 31,651
369,893 436,038

TRANSPOWER DRIVES LIMITED (REGISTERED NUMBER: 01629716)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts and finance leases 36,801 39,260
Trade creditors 180,779 198,580
Amounts owed to group undertakings 51,151 11,231
Taxation and social security 176,100 208,415
Other creditors 25,145 16,076
469,976 473,562

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts and finance leases 28,266 65,067

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts and finance leases 65,067 104,327

Finance lease and hire liabilities are secured on the assets to which it relates.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
140 Ordinary "A" £1 140 140
125 Ordinary Non-Voting "B" 10p 13 13
100 Ordinary Non-Voting "C" £1 100 100
253 253

12. OTHER FINANCIAL COMMITMENTS

The company had total commitments at the balance sheet date of £41,853 (2023 - £62,175).

13. ULTIMATE HOLDING COMPANY

The ultimate holding company is Transpower Group Limited.