Company Registration No. 02031771 (England and Wales)
Turner & Wood (Rawdon) Limited
Unaudited accounts
for the year ended 28 February 2023
Turner & Wood (Rawdon) Limited
Unaudited accounts
Contents
Turner & Wood (Rawdon) Limited
Company Information
for the year ended 28 February 2023
Directors
S Wood
Mrs SE Wood
ML Wood
Company Number
02031771 (England and Wales)
Registered Office
Unit 6 Moorfield Industrial Estate
Moorfield Road, Yeadon
Leeds
LS19 7BN
Accountants
Pearson & Associates
Suite E, Canal Wharf
Eshton Road
Gargrave, Skipton
North Yorkshire
BD23 3SE
Turner & Wood (Rawdon) Limited
Statement of financial position
as at 28 February 2023
Tangible assets
103,226
124,915
Cash at bank and in hand
232,152
184,162
Creditors: amounts falling due within one year
(146,639)
(124,408)
Net current assets
237,257
226,819
Total assets less current liabilities
340,483
351,734
Provisions for liabilities
Deferred tax
(11,929)
(9,620)
Net assets
328,554
342,114
Called up share capital
1,000
1,000
Profit and loss account
327,554
341,114
Shareholders' funds
328,554
342,114
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
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
ML Wood
Director
Company Registration No. 02031771
Turner & Wood (Rawdon) Limited
Notes to the Accounts
for the year ended 28 February 2023
Turner & Wood (Rawdon) Limited is a private company, limited by shares, registered in England and Wales, registration number 02031771. The registered office is Unit 6 Moorfield Industrial Estate, Moorfield Road, Yeadon, Leeds, LS19 7BN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal 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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% on Cost;
Plant & machinery
25% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
25% Reducing Balance
Computer equipment
25% Reducing Balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Turner & Wood (Rawdon) Limited
Notes to the Accounts
for the year ended 28 February 2023
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 March 2022
66,026
56,911
34,167
42,884
666
200,654
At 28 February 2023
66,026
56,911
34,167
42,884
666
200,654
At 1 March 2022
24,825
35,134
712
14,673
395
75,739
Charge for the year
760
5,444
8,364
7,053
68
21,689
At 28 February 2023
25,585
40,578
9,076
21,726
463
97,428
At 28 February 2023
40,441
16,333
25,091
21,158
203
103,226
At 28 February 2022
41,201
21,777
33,455
28,211
271
124,915
Amounts falling due within one year
Trade debtors
82,444
99,615
Accrued income and prepayments
1,980
1,980
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
72,196
68,833
Taxes and social security
45,864
35,275
Other creditors
9,931
15,231
Loans from directors
15,848
2,269
7
Average number of employees
During the year the average number of employees was 7 (2022: 7).