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REGISTERED NUMBER: 08148320 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Turbocharger Solutions Limited

Turbocharger Solutions Limited (Registered number: 08148320)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Turbocharger Solutions Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: L Waterson
T R Waterson





SECRETARY: L Waterson





REGISTERED OFFICE: C/O Turbo Solutions
Red Barnes Way
DARLINGTON
Co Durham
DL1 2RR





REGISTERED NUMBER: 08148320 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
140 Coniscliffe Road
DARLINGTON
Co Durham
DL3 7RT

Turbocharger Solutions Limited (Registered number: 08148320)

Balance Sheet
31 December 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 220,161 190,185
Investment property 6 105,000 110,666
325,161 300,851

CURRENT ASSETS
Stocks 7 214,620 224,620
Debtors 8 190,997 184,368
Cash at bank and in hand 187,239 229,785
592,856 638,773
CREDITORS
Amounts falling due within one year 9 (146,429 ) (128,050 )
NET CURRENT ASSETS 446,427 510,723
TOTAL ASSETS LESS CURRENT
LIABILITIES

771,588

811,574

CREDITORS
Amounts falling due after more than one
year

10

(144,119

)

(140,064

)

PROVISIONS FOR LIABILITIES 12 (30,226 ) (23,178 )
NET ASSETS 597,243 648,332

CAPITAL AND RESERVES
Called up share capital 13 100 100
Capital redemption reserve 100 100
Retained earnings 597,043 648,132
SHAREHOLDERS' FUNDS 597,243 648,332

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

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

Turbocharger Solutions Limited (Registered number: 08148320)

Balance Sheet - continued
31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2025 and were signed on its behalf by:





T R Waterson - Director


Turbocharger Solutions Limited (Registered number: 08148320)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Turbocharger Solutions 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.

There were no material departures from that standard.

The principle accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with directors which were conducted at a market rate.

Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Income recognition
Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and selling price less estimated costs to sell.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Turbocharger Solutions Limited (Registered number: 08148320)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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.

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 11 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 2,114,380
AMORTISATION
At 1 January 2024
and 31 December 2024 2,114,380
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

Turbocharger Solutions Limited (Registered number: 08148320)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 206,654 21,324 398,869 57,787 684,634
Additions - - 115,981 1,283 117,264
Disposals - - (5,981 ) - (5,981 )
At 31 December 2024 206,654 21,324 508,869 59,070 795,917
DEPRECIATION
At 1 January 2024 193,337 21,096 228,745 51,271 494,449
Charge for year 5,637 91 77,119 4,204 87,051
Eliminated on disposal - - (5,744 ) - (5,744 )
At 31 December 2024 198,974 21,187 300,120 55,475 575,756
NET BOOK VALUE
At 31 December 2024 7,680 137 208,749 3,595 220,161
At 31 December 2023 13,317 228 170,124 6,516 190,185

6. INVESTMENT PROPERTY
Total
£   
COST
At 1 January 2024
and 31 December 2024 130,963
DEPRECIATION
At 1 January 2024 20,297
Charge for year 5,666
At 31 December 2024 25,963
NET BOOK VALUE
At 31 December 2024 105,000
At 31 December 2023 110,666

7. STOCKS
2024 2023
£    £   
Stocks 214,620 224,620

Turbocharger Solutions Limited (Registered number: 08148320)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 22,985 20,226
Other debtors - 1,434
Directors' loan accounts 158,773 153,405
Prepayments 9,239 9,303
190,997 184,368

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 7,500 7,313
Hire purchase contracts 31,902 27,846
Trade creditors 16,972 8,409
Taxation and social security 47,091 42,070
Other creditors 29,954 30,996
Accruals and deferred income 13,010 11,416
146,429 128,050

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 3,821 7,500
Bank loans - 2-5 years - 3,821
Hire purchase contracts 140,298 128,743
144,119 140,064

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 172,200 156,589

The hire purchase is secured over the assets to which it relates.

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 30,226 23,178

Turbocharger Solutions Limited (Registered number: 08148320)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

12. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2024 23,178
Accelerated capital allowances 7,048
Balance at 31 December 2024 30,226

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
99 Ordinary £1 99 99
1 Ordinary B £1 1 1
100 100

The Ordinary shares have full voting rights, right to dividends and the right to capital distributions (including on winding up). There and no rights to redemption.

The B Ordinary shares shall be entitled to one vote for every Ordinary share held and one vote for every B Ordinary share held. The holders shall be entitled to varying rates of dividend as declared by the company from time to time.

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£    £   
T R Waterson and L Waterson
Balance outstanding at start of year 153,405 268,646
Amounts advanced 160,368 154,759
Amounts repaid (155,000 ) (270,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 158,773 153,405

No interest has been charged on the directors loan.