REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 5 April 2023 |
for |
A.T.G. Turnbull Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 5 April 2023 |
for |
A.T.G. Turnbull Limited |
A.T.G. Turnbull Limited (Registered number: 00842014) |
Contents of the Financial Statements |
for the Year Ended 5 April 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
A.T.G. Turnbull Limited |
Company Information |
for the Year Ended 5 April 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
A.T.G. Turnbull Limited (Registered number: 00842014) |
Balance Sheet |
5 April 2023 |
5.4.23 | 5.4.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 11 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
A.T.G. Turnbull Limited (Registered number: 00842014) |
Balance Sheet - continued |
5 April 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
A.T.G. Turnbull Limited (Registered number: 00842014) |
Notes to the Financial Statements |
for the Year Ended 5 April 2023 |
1. | STATUTORY INFORMATION |
A.T.G. Turnbull Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts. |
Tangible fixed assets |
Freehold property - 10% straight line |
Plant & Machinery - 10%, 20% straight line |
Investments |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Investments held as fixed assets are shown at cost less provision for impairment |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
A.T.G. Turnbull Limited (Registered number: 00842014) |
Notes to the Financial Statements - continued |
for the Year Ended 5 April 2023 |
2. | ACCOUNTING POLICIES - continued |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of change on the net obligation outstanding in each period |
Pensions |
The company operates a defined contribution person scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Freehold | Plant and |
property | machinery | Totals |
£ | £ | £ |
COST |
At 6 April 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 5 April 2023 |
DEPRECIATION |
At 6 April 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 5 April 2023 |
NET BOOK VALUE |
At 5 April 2023 |
At 5 April 2022 |
The net book value of assets held under finance agreements, included above, amounted to £620,957 (2022: £705,871). |
Included in Freehold Property is the cost of Freehold Land amounting to £2,878,480 (2022: £2,521,192 ) which is not depreciated. |
A.T.G. Turnbull Limited (Registered number: 00842014) |
Notes to the Financial Statements - continued |
for the Year Ended 5 April 2023 |
5. | FIXED ASSET INVESTMENTS |
Investments | Other | Trade |
in associates | Investments | Investments | Total |
COST OR VALUATION | £ | £ | £ | £ |
At 6 April 2022 and 5 April 2023 | 250 | 45,000 | 1 | 45,251 |
NET BOOK VALUE |
At 5 April 2023 | 250 | 45,000 | 1 | 45,251 |
At 5 April 2022 | 250 | - | 1 | 251 |
Participating interests |
The £250 investment in associates represents a 25% participating interest in North Lincs Energy Growers Limited. |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 6 April 2022 |
and 5 April 2023 |
NET BOOK VALUE |
At 5 April 2023 |
At 5 April 2022 |
The 2023 valuations were made by the director of the company, on an open market value for existing use basis. |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
5.4.23 | 5.4.22 |
£ | £ |
Trade debtors |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
5.4.23 | 5.4.22 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
A.T.G. Turnbull Limited (Registered number: 00842014) |
Notes to the Financial Statements - continued |
for the Year Ended 5 April 2023 |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
5.4.23 | 5.4.22 |
£ | £ |
Bank loans |
Hire purchase contracts |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
5.4.23 | 5.4.22 |
£ | £ |
Bank loans |
Hire purchase contracts | 351,437 | 400,184 |
The net obligations under finance leases and hire purchase contracts are secured against the assets to which they relate. |
The bank has a mortgage in place in respect of freehold land, included in bank loans outstanding, which are secured. The bank also has a debenture comprising a fixed and floating charge over all the assets and undertakings of the company both present and future. |
11. | RESERVES |
Revaluation |
reserve |
£ |
At 6 April 2022 |
and 5 April 2023 |
12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
5.4.23 | 5.4.22 |
£ | £ |
Balance owing from director | 17,428 | 21,735 |
Interest charged on balance owing | 17 | 1,002 |
Maximum outstanding balance within the year | 21,974 | 60,682 |
Interest has been charged at a rate of 2% per annum. |
A.T.G. Turnbull Limited (Registered number: 00842014) |
Notes to the Financial Statements - continued |
for the Year Ended 5 April 2023 |
13. | RELATED PARTY DISCLOSURES |
5.4.23 | 5.4.22 |
£ | £ |
Sales to related parties | 1,246,989 | 1,078,277 |
Purchases from related parties | 193,391 | 155,229 |
Sales ledger balances owing from related parties | 322,842 | 161,897 |
Purchase ledger balances owning to related parties | 298 | - |
Loans owing from related parties | - | 10,016 |
The related parties are companies in which the director and his immediate family are also directors and have a controlling interest. |
14. | ULTIMATE CONTROLLING PARTY |
The controlling party is A W H Turnbull. |