Titan Pump Services Limited 13412593 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is Commercial pump installation, commissioning and servicing Digita Accounts Production Advanced 6.30.9574.0 true true 13412593 2023-06-01 2024-05-31 13412593 2024-05-31 13412593 bus:OrdinaryShareClass1 2024-05-31 13412593 core:CurrentFinancialInstruments 2024-05-31 13412593 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 13412593 core:FurnitureFittingsToolsEquipment 2024-05-31 13412593 bus:SmallEntities 2023-06-01 2024-05-31 13412593 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 13412593 bus:FilletedAccounts 2023-06-01 2024-05-31 13412593 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 13412593 bus:RegisteredOffice 2023-06-01 2024-05-31 13412593 bus:Director1 2023-06-01 2024-05-31 13412593 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 13412593 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 13412593 core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 13412593 countries:EnglandWales 2023-06-01 2024-05-31 13412593 2023-05-31 13412593 core:FurnitureFittingsToolsEquipment 2023-05-31 13412593 2022-06-01 2023-05-31 13412593 2023-05-31 13412593 bus:OrdinaryShareClass1 2023-05-31 13412593 core:CurrentFinancialInstruments 2023-05-31 13412593 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 13412593 core:FurnitureFittingsToolsEquipment 2023-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13412593

Titan Pump Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Titan Pump Services Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Titan Pump Services Limited

Company Information

Director

Tyrone Nicklin

Registered office

1B Palfrey Heights
Bratham
Manningtree
Essex
CO11 1SE

Accountants

CityTrust Accounts Limited
17 Skelton Close
Lawford
Manningtree
Essex
CO11 2HT

 

Titan Pump Services Limited

(Registration number: 13412593)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

749

779

Current assets

 

Debtors

5

46,532

62,985

Cash at bank and in hand

 

72,462

4,167

 

118,994

67,152

Creditors: Amounts falling due within one year

6

(50,032)

(32,644)

Net current assets

 

68,962

34,508

Net assets

 

69,711

35,287

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

69,710

35,286

Shareholders' funds

 

69,711

35,287

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 February 2025
 

.........................................
Tyrone Nicklin
Director

 

Titan Pump Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1B Palfrey Heights
Bratham
Manningtree
Essex
CO11 1SE
England

These financial statements were authorised for issue by the director on 25 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Titan Pump Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Titan Pump Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Titan Pump Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2023

974

974

Additions

449

449

At 31 May 2024

1,423

1,423

Depreciation

At 1 June 2023

195

195

Charge for the year

479

479

At 31 May 2024

674

674

Carrying amount

At 31 May 2024

749

749

At 31 May 2023

779

779

5

Debtors

Current

2024
£

2023
£

Trade debtors

45,700

60,700

Prepayments

627

-

Other debtors

205

2,285

 

46,532

62,985

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

18,026

14,431

Taxation and social security

26,975

15,645

Accruals and deferred income

210

131

Other creditors

4,821

2,437

50,032

32,644

 

Titan Pump Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

       

8

Dividends

2024

2023

£

£

Interim dividend of £55,000.00 (2023 - £41,575.00) per ordinary share

55,000

41,575

 

 

9

Related party transactions

 

Titan Pump Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

11,568

12,571