REGISTERED NUMBER: |
Turimex Investments Limited |
Abridged Unaudited Financial Statements |
for the period |
1 February 2023 to 31 March 2024 |
REGISTERED NUMBER: |
Turimex Investments Limited |
Abridged Unaudited Financial Statements |
for the period |
1 February 2023 to 31 March 2024 |
Turimex Investments Limited (Registered number: 13863356) |
Contents of the Financial Statements |
for the period 1 February 2023 to 31 March 2024 |
Page |
Company Information | 1 |
Chartered Accountants' Report | 2 |
Statement of Financial Position | 3 |
Notes to the Financial Statements | 5 |
Turimex Investments Limited |
Company Information |
for the period 1 February 2023 to 31 March 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
239-241 Kennington Lane |
London |
SE11 5QU |
Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Turimex Investments Limited |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Turimex Investments Limited for the period ended 31 March 2024 which comprise the Abridged Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the director of Turimex Investments Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Turimex Investments Limited and state those matters that we have agreed to state to the director of Turimex Investments Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Turimex Investments Limited and its director for our work or for this report. |
It is your duty to ensure that Turimex Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Turimex Investments Limited. You consider that Turimex Investments Limited is exempt from the statutory audit requirement for the period. |
We have not been instructed to carry out an audit or a review of the financial statements of Turimex Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
239-241 Kennington Lane |
London |
SE11 5QU |
Turimex Investments Limited (Registered number: 13863356) |
Statement of Financial Position |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings | 11 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
Turimex Investments Limited (Registered number: 13863356) |
Statement of Financial Position - continued |
31 March 2024 |
The financial statements were approved by the director and authorised for issue on |
Turimex Investments Limited (Registered number: 13863356) |
Notes to the Financial Statements |
for the period 1 February 2023 to 31 March 2024 |
1. | STATUTORY INFORMATION |
Turimex Investments Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
No depreciation is charged on investment property and on the improvement cost under FRS102 standard. |
Going concern |
The company is dependent on continuing finance being made available by its directors to enable it to continue operating and to meet its liabilities as they fall due. The directors of the company has agreed to provide sufficient funds to the company for these purposes. On this basis, the directors consider it appropriate to prepare the financial statements on a going concern. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 February 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 January 2023 |
Turimex Investments Limited (Registered number: 13863356) |
Notes to the Financial Statements - continued |
for the period 1 February 2023 to 31 March 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans (see note 8) |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
8. | LOANS |
An analysis of the maturity of loans is given below: |
2024 | 2023 |
£ | £ |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst | 4,700,000 | 4,700,000 |
Turimex Investments Limited (Registered number: 13863356) |
Notes to the Financial Statements - continued |
for the period 1 February 2023 to 31 March 2024 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loan | 4,700,000 | 4,700,000 |
Loans secured over the company's assets to Punjab National Bank (International) Limited. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
11. | RESERVES |
Retained |
earnings |
£ |
At 1 February 2023 | ( |
) |
Profit for the period |
At 31 March 2024 | ( |
) |
12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the periods ended 31 March 2024 and 31 January 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of period | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period | ( |
) |
Turimex Investments Limited (Registered number: 13863356) |
Notes to the Financial Statements - continued |
for the period 1 February 2023 to 31 March 2024 |
13. | RELATED PARTY DISCLOSURES |
Transactions with members of key management personnel: |
1. Loans due from the member of key management personnel to company at balance sheet date £59,799 (2023:Due to related party £32,350). Interest free loan repayable on demand |
Transactions with entities under common and joint control: |
1. The amounts due from the elated party at the balance sheet date are £9,833( 2023: £1,651). Loans bear interest at market rate and have no fixed repayments terms. |
2. The amounts due to the related party on the balance sheet date are £2,482,753(2023:£2,380,120). Loans bear interest at market rate and have no fixed repayments terms. |