| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2025 |
| for |
| Turbo Technics Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2025 |
| for |
| Turbo Technics Limited |
| Turbo Technics Limited (Registered number: 01678701) |
| Contents of the Financial Statements |
| for the year ended 31 March 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 | to | 3 |
| Notes to the Financial Statements | 4 | to | 8 |
| Turbo Technics Limited |
| Company Information |
| for the year ended 31 March 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Pacioli House |
| 9 Brookfield |
| Duncan Close |
| Northampton |
| Northamptonshire |
| NN3 6WL |
| Turbo Technics Limited (Registered number: 01678701) |
| Balance Sheet |
| 31 March 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks | 6 |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 11 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 12 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Turbo Technics Limited (Registered number: 01678701) |
| Balance Sheet - continued |
| 31 March 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Turbo Technics Limited (Registered number: 01678701) |
| Notes to the Financial Statements |
| for the year ended 31 March 2025 |
| 1. | STATUTORY INFORMATION |
| Turbo Technics Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 section 1A - "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102 section 1A") and with the Companies Act 2006. The financial statements have been prepared on the historical cost basis. |
| The financial statements are presented in Sterling (£) and cover the period to 31st March each year. |
| Going concern |
| The financial statements have been prepared on a going concern basis as the company will continue to receive the support of the directors. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Turnover represents the invoiced sales of new and exchanged turbochargers, and turbocharger balancing machines. |
| In respect of the work in progress on part completed turbocharger balancing machines, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of part completed machines is recognised by reference to the stage of completion. |
| 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 twenty years. |
| Tangible fixed assets |
| Property improvements | - |
| Plant & machinery and fixtures & fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Turbo Technics Limited (Registered number: 01678701) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Trade and other debtors |
| Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at undiscounted cost less impairment losses for bad and doubtful debts. |
| Trade and other creditors |
| Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method unless the effect of discounting would be immaterial, in which case they are stated at undiscounted cost. |
| 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. |
| 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. |
| Research and development |
| Expenditure on research and development is written off in the year in which it is incurred. |
| Foreign currencies |
| Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the transactions. All timing differences are taken to the Profit and Loss account. |
| Leasing commitments |
| Rentals paid under operating leases are charged to the profit and loss account 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. |
| Turbo Technics Limited (Registered number: 01678701) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2025 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 April 2024 |
| Additions |
| At 31 March 2025 |
| AMORTISATION |
| At 1 April 2024 |
| Charge for year |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant & |
| machinery |
| and |
| Property | fixtures | Motor | Computer |
| improvements | & fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 April 2024 |
| Additions |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| 6. | STOCKS |
| 2025 | 2024 |
| £ | £ |
| Stocks |
| Work-in-progress |
| Turbo Technics Limited (Registered number: 01678701) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2025 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Tax |
| VAT |
| Prepayments |
| Accrued income |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Social security and other taxes |
| VAT | 25,938 | - |
| Other creditors |
| Directors' current accounts | 93,875 | 56,768 |
| Accruals and deferred income |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2025 | 2024 |
| £ | £ |
| Within one year |
| 10. | FINANCIAL INSTRUMENTS |
| The company does not have significant exposure to liquidity, cash flow and interest rate risks due to the nature of its trade. Exposure to foreign currency, credit and market risks arise in the normal course of the company's business. These risks are limited by the company's financial management policies and practices described below. |
| Foreign currency risk |
| The company is exposed to foreign currency risk as some of its customers are invoiced in currencies other than Sterling. The risk is mitigated by selling foreign currency as and when the exchange rate favours the company and buying in the foreign currencies wherever possible. |
| Credit risk |
| The company has exposure to credit risks predominately emanating from its customers. The company's exposure and its customers' credit worthiness is monitored so that any potential problems are detected at an early stage. Regular billing helps to ensure that the exposure to credit risk is minimised. |
| Market risk |
| There is a market risk associated with the fluctuation in demand for the products and consultancy services provided by the company. Most of this is mitigated by monitoring the markets to ensure that overheads and costs are tailored to the demand for the services offered. |
| The company holds no derivative financial instruments at the year end. |
| Turbo Technics Limited (Registered number: 01678701) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2025 |
| 11. | PROVISIONS FOR LIABILITIES |
| 2025 | 2024 |
| £ | £ |
| Deferred tax | 38,048 | 43,110 |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2024 |
| Credit to Statement of Income and Retained Earnings during year | ( |
) |
| Balance at 31 March 2025 |
| 12. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary | £1 | 21,750 | 21,750 |
| 13. | PENSION COMMITMENTS |
| The company operates a defined contribution, auto enrolment, pension scheme for all of its qualifying employees. The total expense charged to the profit and loss account in the period ended 31st March 2025 was £78,702 (2024: £68,357). The amount owed by the pension scheme at the year end was £4,638 (2024: £ 918 owed to the pension scheme). |
| 14. | CONTINGENT LIABILITIES |
| There is a contingent liability in respect of an unscheduled mortgage debenture in favour of the National Westminster Bank plc dated 22nd February 1984, incorporating a fixed and floating charge over all current and future assets of the company. |
| 15. | RELATED PARTY DISCLOSURES |
| Owners holding a participating interest |
| 2025 | 2024 |
| £ | £ |
| Rent paid to related parties | 75,000 | 60,000 |
| Dividends paid to related parties | 40,000 | 20,000 |
| Amounts due to / (from) related parties | 93,875 | 56,768 |
| These amounts are interest free, repayable upon demand and are included in creditors. |