Registered number
06523115
Turmeric Gold Limited
Filleted Accounts
31 March 2023
API Partnership Ltd T/A Chandler & Georges
Chartered Accountants
75 Westow Hill
LONDON
SE19 1TX
Tel: 0208 761 2213
www.cgca.co.uk
Turmeric Gold Limited
Registered number: 06523115
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 104,060 120,059
Current assets
Stocks 5,761 6,019
Debtors 4 56,303 111,004
Cash at bank and in hand 7,694 20,197
69,758 137,220
Creditors: amounts falling due within one year 5 (102,980) (120,317)
Net current (liabilities)/assets (33,222) 16,903
Total assets less current liabilities 70,838 136,962
Creditors: amounts falling due after more than one year 6 (22,047) (32,130)
Provisions for liabilities (7,538) (7,657)
Net assets 41,253 97,175
Capital and reserves
Called up share capital 100 100
Profit and loss account 41,153 97,075
Shareholders' funds 41,253 97,175
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr K Islam
Director
Approved by the board on 27 November 2023
Turmeric Gold Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold improvements 5% straight line
Plant and machinery 20% reducing balance
Plant and machinery 20% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Government Grants
Government grants are recognised where there is reasonable assurance that the grant will be received, and all attached conditions will be complied with. When the grant relates to an expense item, it is recognised as income on a systematic basis over the periods that the related costs, for which it is intended to compensate, are expensed.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company including directors 20 20
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2022 110,574 197,948 308,522
Additions - 1,220 1,220
At 31 March 2023 110,574 199,168 309,742
Depreciation
At 1 April 2022 36,150 152,313 188,463
Charge for the year 5,530 11,689 17,219
At 31 March 2023 41,680 164,002 205,682
Net book value
At 31 March 2023 68,894 35,166 104,060
At 31 March 2022 74,424 45,635 120,059
4 Debtors 2023 2022
£ £
Trade debtors 2,894 2,075
Other debtors 53,409 108,929
56,303 111,004
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 31,424 40,447
Corporation tax - 29,452
Other taxes and social security costs 48,587 27,804
Other creditors 12,969 12,614
102,980 120,317
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 22,047 32,130
The company took advantage of The Bounce Back Loan Scheme (BBLS) by borrowing £50,000. The rate of interest is 2.5% and the loan is repayable in 6 years with the first repayment commencing June 2021.
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr A S Subhan -
Loan 10,000 9,515 (19,515) -
Mr K Islam
Loan 14,028 24,211 (38,239) -
24,028 33,726 (57,754) -
8 Related party transactions
Turmeric Square Ltd
Key management

Inculding in Other debtors is an amount £Nil (2022 £34,372) owed from Turmeric Square Ltd, a company which Mr K Islam is a director and 50% shareholder.
9 Controlling party
The company is controlled by Mr A S Subhan, Mr M H Ali and Mr K Islam, who owns the shares in respective manner 33%,33% and 34%.
10 Other information
Turmeric Gold Limited is a private company limited by shares and incorporated in England. Its registered office is:
75 Westow Hill
Crystal Palace
London
SE19 1TX
Turmeric Gold Limited 06523115 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts October 2023 Mr K Islam No description of principal activity 06523115 2021-04-01 2022-03-31 06523115 core:WithinOneYear 2022-03-31 06523115 core:AfterOneYear 2022-03-31 06523115 core:ShareCapital 2022-03-31 06523115 core:RetainedEarningsAccumulatedLosses 2022-03-31 06523115 2022-04-01 2023-03-31 06523115 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 06523115 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 06523115 bus:Director40 2022-04-01 2023-03-31 06523115 1 2022-04-01 2023-03-31 06523115 2 2022-04-01 2023-03-31 06523115 core:LandBuildings 2022-04-01 2023-03-31 06523115 core:PlantMachinery 2022-04-01 2023-03-31 06523115 bus:Director1 2022-04-01 2023-03-31 06523115 bus:Director1 1 2022-04-01 2023-03-31 06523115 bus:Director3 2022-04-01 2023-03-31 06523115 bus:Director2 1 2022-04-01 2023-03-31 06523115 countries:England 2022-04-01 2023-03-31 06523115 bus:FRS102 2022-04-01 2023-03-31 06523115 bus:FullAccounts 2022-04-01 2023-03-31 06523115 2023-03-31 06523115 core:WithinOneYear 2023-03-31 06523115 core:AfterOneYear 2023-03-31 06523115 core:ShareCapital 2023-03-31 06523115 core:RetainedEarningsAccumulatedLosses 2023-03-31 06523115 core:LandBuildings 2023-03-31 06523115 core:PlantMachinery 2023-03-31 06523115 bus:Director1 1 2023-03-31 06523115 bus:Director2 1 2023-03-31 06523115 2022-03-31 06523115 core:LandBuildings 2022-03-31 06523115 core:PlantMachinery 2022-03-31 06523115 bus:Director1 1 2022-03-31 06523115 bus:Director2 1 2022-03-31 iso4217:GBP xbrli:pure