IRIS Accounts Production v23.3.0.418 12014390 Board of Directors Board of Directors Board of Directors 1.4.22 31.3.23 31.3.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure120143902022-03-31120143902023-03-31120143902022-04-012023-03-31120143902021-03-31120143902021-04-012022-03-31120143902022-03-3112014390ns16:EnglandWales2022-04-012023-03-3112014390ns15:PoundSterling2022-04-012023-03-3112014390ns11:Director12022-04-012023-03-3112014390ns11:Director22022-04-012023-03-3112014390ns11:Director32022-04-012023-03-3112014390ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3112014390ns11:SmallEntities2022-04-012023-03-3112014390ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-3112014390ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3112014390ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3112014390ns11:FullAccounts2022-04-012023-03-3112014390ns11:RegisteredOffice2022-04-012023-03-3112014390ns6:CurrentFinancialInstruments2023-03-3112014390ns6:CurrentFinancialInstruments2022-03-3112014390ns6:Non-currentFinancialInstruments2023-03-3112014390ns6:Non-currentFinancialInstruments2022-03-3112014390ns6:ShareCapital2023-03-3112014390ns6:ShareCapital2022-03-3112014390ns6:RetainedEarningsAccumulatedLosses2023-03-3112014390ns6:RetainedEarningsAccumulatedLosses2022-03-3112014390ns6:LeaseholdImprovements2022-04-012023-03-3112014390ns6:PlantMachinery2022-04-012023-03-3112014390ns6:FurnitureFittings2022-04-012023-03-3112014390ns6:MotorVehicles2022-04-012023-03-3112014390ns6:ComputerEquipment2022-04-012023-03-3112014390ns6:LeaseholdImprovements2022-03-3112014390ns6:PlantMachinery2022-03-3112014390ns6:FurnitureFittings2022-03-3112014390ns6:LeaseholdImprovements2023-03-3112014390ns6:PlantMachinery2023-03-3112014390ns6:FurnitureFittings2023-03-3112014390ns6:LeaseholdImprovements2022-03-3112014390ns6:PlantMachinery2022-03-3112014390ns6:FurnitureFittings2022-03-3112014390ns6:MotorVehicles2022-03-3112014390ns6:ComputerEquipment2022-03-3112014390ns6:MotorVehicles2023-03-3112014390ns6:ComputerEquipment2023-03-3112014390ns6:MotorVehicles2022-03-3112014390ns6:ComputerEquipment2022-03-3112014390ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2022-04-012023-03-3112014390ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2023-03-3112014390ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3112014390ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3112014390ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2023-03-3112014390ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2022-03-3112014390ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2023-03-3112014390ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2022-03-3112014390ns6:Secured2023-03-3112014390ns6:Secured2022-03-31120143902ns11:Director22022-03-31120143902ns11:Director22021-03-31120143902ns11:Director22022-04-012023-03-31120143902ns11:Director22021-04-012022-03-31120143902ns11:Director22023-03-31120143902ns11:Director22022-03-31
REGISTERED NUMBER: 12014390 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

R J TURNER LIMITED

R J TURNER LIMITED (REGISTERED NUMBER: 12014390)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


R J TURNER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: R J Turner
Miss C M Thomas
R T Turner





REGISTERED OFFICE: Gibson House
Hurricane Court
Hurricane Close
Stafford
ST16 1GZ





REGISTERED NUMBER: 12014390 (England and Wales)





ACCOUNTANTS: Deans
Chartered Accountants
Gibson House
Hurricane Court
Hurricane Close
Stafford
ST16 1GZ

R J TURNER LIMITED (REGISTERED NUMBER: 12014390)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 298,403 173,751

CURRENT ASSETS
Stocks 152,722 120,062
Debtors 5 179,591 20,991
332,313 141,053
CREDITORS
Amounts falling due within one year 6 (322,850 ) (201,328 )
NET CURRENT ASSETS/(LIABILITIES) 9,463 (60,275 )
TOTAL ASSETS LESS CURRENT LIABILITIES 307,866 113,476

CREDITORS
Amounts falling due after more than one
year

7

(171,088

)

(32,505

)

PROVISIONS FOR LIABILITIES - (33,013 )
NET ASSETS 136,778 47,958

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 136,678 47,858
SHAREHOLDERS' FUNDS 136,778 47,958

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

R J TURNER LIMITED (REGISTERED NUMBER: 12014390)

BALANCE SHEET - continued
31 MARCH 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2023 and were signed on its behalf by:




R J Turner - Director R T Turner - Director




Miss C M Thomas - Director


R J TURNER LIMITED (REGISTERED NUMBER: 12014390)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

R J Turner 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition if turnover are as follows:

Sale of goods
Turnover from the sale of crops and livestock is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably , it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on despatch of the goods.

Contract income
Turnover from contracting is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Rent
Rental income is recognised using the accrual model.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

R J TURNER LIMITED (REGISTERED NUMBER: 12014390)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

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 the shorter.
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance and 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance and 15% on reducing balance
Office equipment - 20% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued in accordance with Business Economic Note 19 issued by the Inland Revenue, at the lower of cost and net realisable value using other accepted conventions to arrive at deemed cost where actual costs are not accurately ascertainable, after making allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

R J TURNER LIMITED (REGISTERED NUMBER: 12014390)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable with one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Government grants
Government Grants in respect of Covid-19 received as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the company with no future related costs are recognised as income in the period in which the grant becomes receivable using the accruals model.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2022 825 114,446 713
Additions 57,619 2,127 -
Disposals - - -
Reclassification/transfer - - -
At 31 March 2023 58,444 116,573 713
DEPRECIATION
At 1 April 2022 83 32,313 207
Charge for year 2,388 12,640 75
Eliminated on disposal - - -
Reclassification/transfer - - -
At 31 March 2023 2,471 44,953 282
NET BOOK VALUE
At 31 March 2023 55,973 71,620 431
At 31 March 2022 742 82,133 506

R J TURNER LIMITED (REGISTERED NUMBER: 12014390)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. TANGIBLE FIXED ASSETS - continued

Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 129,733 1,571 247,288
Additions 189,833 1,202 250,781
Disposals (115,733 ) - (115,733 )
Reclassification/transfer (2,596 ) - (2,596 )
At 31 March 2023 201,237 2,773 379,740
DEPRECIATION
At 1 April 2022 40,350 584 73,537
Charge for year 30,898 438 46,439
Eliminated on disposal (36,043 ) - (36,043 )
Reclassification/transfer (2,596 ) - (2,596 )
At 31 March 2023 32,609 1,022 81,337
NET BOOK VALUE
At 31 March 2023 168,628 1,751 298,403
At 31 March 2022 89,383 987 173,751

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 185,250
At 31 March 2023 185,250
DEPRECIATION
Charge for year 27,788
At 31 March 2023 27,788
NET BOOK VALUE
At 31 March 2023 157,462

R J TURNER LIMITED (REGISTERED NUMBER: 12014390)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,893 4,823
Directors' current accounts 122,426 -
Tax 40,140 -
VAT 13,386 13,193
Prepayments 1,746 2,975
179,591 20,991

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 134,856 64,397
Hire purchase contracts 14,120 10,740
Trade creditors 107,736 27,968
Tax 24,096 20,377
Directors' current accounts - 63,579
Accruals and deferred income 42,042 14,267
322,850 201,328

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 20,000 10,000
Bank loans - 2-5 years 42,503 22,505
Blank loans due 5+ years 52,455 -
Hire purchase contracts 56,130 -
171,088 32,505

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 115,442 54,397
Bank loans 134,372 42,505
249,814 96,902

R J TURNER LIMITED (REGISTERED NUMBER: 12014390)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
R T Turner
Balance outstanding at start of year - -
Amounts advanced 285,034 -
Amounts repaid (162,608 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 122,426 -

The directors loan is repayable on demand.