C.E.TURNER(ENGINEERS)LIMITED - Accounts to registrar (filleted)

REGISTERED NUMBER: 00477536 (England and Wales)

C.E.TURNER(ENGINEERS)LIMITED

Unaudited Financial Statements

for the Year Ended 31 March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A J Lines

M J Southworth

REGISTERED OFFICE:

2 Hudson Road

Saxby Road Industrial Estate

Melton Mowbray

Leicestershire

LE13 1BS

REGISTERED NUMBER:

00477536 (England and Wales)

ACCOUNTANTS:

UHY Hacker Young (Bham) LLP

9-11 Vittoria Street

Birmingham

B1 3ND

FIXED ASSETS

Tangible assets

4

857,597

944,286

CURRENT ASSETS

Stocks

5

663,407

460,243

Debtors

6

1,285,376

838,920

Cash at bank and in hand

25,188

457

1,973,971

1,299,620

CREDITORS

Amounts falling due within one year

7

3,215,145

2,251,022

NET CURRENT LIABILITIES

(1,241,174

)

(951,402

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(383,577

)

(7,116

)

CREDITORS

Amounts falling due after more than
one year

8

691,403

730,370

NET LIABILITIES

(1,074,980

)

(737,486

)

CAPITAL AND RESERVES

Called up share capital

11

6,352

Share premium

100,299

Capital redemption reserve

2,673

Retained earnings

(1,184,304

)

(846,810

)

SHAREHOLDERS' FUNDS

(1,074,980

)

(737,486

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 30 December 2025 and were signed on its behalf by:

M J Southworth - Director

1.	STATUTORY INFORMATION

C.E.TURNER(ENGINEERS)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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The Managing Director and Ultimate Controlling Party has committed to providing financial support to satisfy the cashflow requirements of the company.

This support has been provided alongside;

- a strong order book

- engagement of external accounting expertise

- continuing operational capacity and quality assessments and enhancements

Therefore, the directors consider that the company has sufficient resources to meet its liabilities for at least twelve months from signing these financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue is also recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of the work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is shorter.

Plant and machinery - 25% on reducing balance

Fixtures and fittings - 25% on reducing balance

Motor vehicles - 25% on reducing balance

Computer equipment - 33% straight line

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

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost re reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss 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.

Debtors

Basic financial assets, including trade and other debtors, are intially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Government grants

Grant income is recognised in the profit and loss at the time at which all conditions of the grant have been satisfied.

Grant income relating to capital purchases is deferred and released to the profit and loss account over the life of the asset of which it was received to fund.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 54 (2024 - 59 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

COST

At 1 April 2024

4,441,631

60,244

83,848

157,312

4,743,035

Additions

162,350

-

162,350

At 31 March 2025

4,603,981

60,244

83,848

157,312

4,905,385

DEPRECIATION

At 1 April 2024

3,565,476

55,562

32,895

144,816

3,798,749

Charge for year

223,637

1,951

12,739

10,712

249,039

At 31 March 2025

3,789,113

57,513

45,634

155,528

4,047,788

NET BOOK VALUE

At 31 March 2025

814,868

2,731

38,214

1,784

857,597

At 31 March 2024

876,155

4,682

50,953

12,496

944,286

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

COST

At 1 April 2024

3,857,967

35,918

3,893,885

Additions

162,350

-

162,350

At 31 March 2025

4,020,317

35,918

4,056,235

DEPRECIATION

At 1 April 2024

3,018,375

12,863

3,031,238

Charge for year

175,037

5,764

180,801

At 31 March 2025

3,193,412

18,627

3,212,039

NET BOOK VALUE

At 31 March 2025

826,905

17,291

844,196

At 31 March 2024

839,592

23,055

862,647

5.

STOCKS

2025

2024

£

Stocks

98,218

82,044

Work-in-progress

522,319

302,104

Finished goods

42,870

76,095

663,407

460,243

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

1,034,325

717,737

Amounts owed by group undertakings

167,023

65,357

Other debtors

2,056

Prepayments

81,972

53,770

1,285,376

838,920

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts (see note 9)

23,650

28,281

Hire purchase contracts

225,475

392,867

Trade creditors

600,489

425,939

Amounts owed to group undertakings

246,138

472,037

Social security and other taxes

1,374,871

507,935

Other creditors

22,279

29,062

Invoice discounting facility

717,243

269,927

Accrued expenses

5,000

124,974

3,215,145

2,251,022

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

Bank loans (see note 9)

-

23,290

Hire purchase contracts

279,299

557,080

Chiltern Industries Ltd

149,169

150,000

Directors' loan accounts

262,935

-

691,403

730,370

On 28 March 2024 Chiltern Industries Limited discharged the company from its obligations to repay a loan of £1,180,000. Also on 28 March 2024, Invictus Engineering Group Limited purchased 100% of the share capital in C.E. Turner (Engineers) Limited. Both Chiltern Industries Limited and Invictus Engineering Group Limited are controlled by AJ Lines.

A loan of £149,169 made by Chiltern Industries Limited to C.E. Turner (Engineers Limited) does not have defined terms but will not be repaid until other liabilities have been settled.

9.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

Amounts falling due within one year or on demand:

Bank loans

23,650

28,281

Amounts falling due between one and two years:

Bank loans - 1-2 years

-

23,290

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Bank loans

23,650

51,571

Hire purchase contracts

504,774

949,947

Invoice discounting facility

-

269,927

528,424

1,271,445

Obligations under hire purchase contracts are secured on the assets to which they relate.

There is a fixed and floating charge over the company and its associated assets dated 22 November 2024 securing all monies due or to become due to 4 SYTH LTD.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

2,364

'A' Ordinary

1

2,364

3,988

'B' Ordinary

1

3,988

6,352

12.	RELATED PARTY DISCLOSURES

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 wholly owned subsidiaries within the group.

Chiltern Industries Limited is a company in which a Director Arnold James Lines is also a Director. As at 31 March 2025, a balance was owed to Chiltern Industries Limited of £149,169 (2024: £150,000). This amount outstanding is unsecured with no formal agreement in place.

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A J Lines, following the acquisition of 100% shareholding in Invictus Engineering Group Limited, the parent company of C.E.Turner (Engineers) Limited on 28 March 2024.