REGISTERED NUMBER: SC214219 (Scotland)

Unaudited Financial Statements

For The Year Ended 28 February 2025

for

T.P.S. Engineering Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

J G Manuel

A Manuel

SECRETARY:

J G Manuel

REGISTERED OFFICE:

84 Dykehead Street

Queenslie Industrial Estate

GLASGOW

G33 4AQ

REGISTERED NUMBER:

SC214219 (Scotland)

ACCOUNTANTS:

Atkinson Donnelly LLP

1 Cambuslang Court

Cambuslang

Glasgow

Strathclyde

G32 8FH

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

10,372

13,494

10,372

13,494

CURRENT ASSETS

Stocks

223,086

174,412

Debtors

6

29,187

85,560

Cash at bank

-

113

252,273

260,085

CREDITORS

Amounts falling due within one year

7

164,288

189,513

NET CURRENT ASSETS

87,985

70,572

TOTAL ASSETS LESS CURRENT LIABILITIES

98,357

84,066

CREDITORS

Amounts falling due after more than one year

8

(23,149

)

(28,704

)

PROVISIONS FOR LIABILITIES

9

(2,045

)

(2,468

)

NET ASSETS

73,163

52,894

CAPITAL AND RESERVES

Called up share capital

70,000

70,000

Retained earnings

3,163

(17,106

)

SHAREHOLDERS' FUNDS

73,163

52,894

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 October 2025 and were signed on its behalf by:

J G Manuel - Director

1.	STATUTORY INFORMATION

T.P.S. Engineering Limited is a private company, limited by shares , registered in Scotland. 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 financial statements have been prepared on a going concern basis which the director believes is appropriate. The company is supported by loans from the directors and the directors have confirmed that he will not seek repayment of this loan until such times as the company has sufficient available funds.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

15% on reducing balance

Computer equipment

-

20% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and Bank Balances

Cash and bank balances are measured at the transaction price.

Taxation

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

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 7 (2024 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 March 2024

and 28 February 2025

135,896

AMORTISATION

At 1 March 2024

and 28 February 2025

135,896

NET BOOK VALUE

At 28 February 2025

-

At 29 February 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 March 2024

and 28 February 2025

64,846

28,595

4,498

97,939

DEPRECIATION

At 1 March 2024

55,559

26,162

2,724

84,445

Charge for year

1,858

365

899

3,122

At 28 February 2025

57,417

26,527

3,623

87,567

NET BOOK VALUE

At 28 February 2025

7,429

2,068

875

10,372

At 29 February 2024

9,287

2,433

1,774

13,494

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Trade debtors

29,187

83,440

Other debtors

-

2,120

29,187

85,560

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Bank loans and overdrafts

25,447

58,407

Trade creditors

28,289

21,888

Taxation and social security

29,500

16,961

Other creditors

81,052

92,257

164,288

189,513

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.25

29.2.24

£

£

Bank loans

23,149

28,704

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

926

6,481

9.	PROVISIONS FOR LIABILITIES

28.2.25

29.2.24

£

£

Deferred tax

2,045

2,468

Deferred

tax

£

Balance at 1 March 2024

2,468

Provided during year

(423

)

Balance at 28 February 2025

2,045

The following reproduces the text of the report prepared for the directors 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 Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors 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 T.P.S. Engineering Limited for the year ended 28 February 2025 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the Board of Directors of T.P.S. Engineering Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of T.P.S. Engineering Limited and state those matters that we have agreed to state to the Board of Directors of T.P.S. Engineering Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that T.P.S. Engineering 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 T.P.S. Engineering Limited. You consider that T.P.S. Engineering Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of T.P.S. Engineering 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.

Atkinson Donnelly LLP

1 Cambuslang Court

Cambuslang

Glasgow

Strathclyde

G32 8FH

15 October 2025