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REGISTERED NUMBER: 05202133 (England and Wales)


















Turner Timber Frames Limited

Unaudited Financial Statements for the Year Ended 28th February 2023






Turner Timber Frames Limited (Registered number: 05202133)






Contents of the Financial Statements
for the year ended 28th February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Turner Timber Frames Limited

Company Information
for the year ended 28th February 2023







DIRECTORS: H Turner
M Turner
S Turner





SECRETARY: S Turner





REGISTERED OFFICE: Farslea
Leven Road
Brandesburton
East Yorkshire
YO25 8RT





REGISTERED NUMBER: 05202133 (England and Wales)





ACCOUNTANTS: Smailes Goldie
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

Turner Timber Frames Limited (Registered number: 05202133)

Balance Sheet
28th February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 92,024 117,549

CURRENT ASSETS
Stocks 268,863 445,597
Debtors 5 610,523 457,885
Cash at bank 165,681 293,382
1,045,067 1,196,864
CREDITORS
Amounts falling due within one year 6 801,930 1,226,865
NET CURRENT ASSETS/(LIABILITIES) 243,137 (30,001 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

335,161

87,548

PROVISIONS FOR LIABILITIES 23,005 30,454
NET ASSETS 312,156 57,094

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 312,056 56,994
SHAREHOLDERS' FUNDS 312,156 57,094

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 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.

Turner Timber Frames Limited (Registered number: 05202133)

Balance Sheet - continued
28th February 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8th November 2023 and were signed on its behalf by:





M Turner - Director


Turner Timber Frames Limited (Registered number: 05202133)

Notes to the Financial Statements
for the year ended 28th February 2023

1. STATUTORY INFORMATION

Turner Timber Frames 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 18 ) .

Turner Timber Frames Limited (Registered number: 05202133)

Notes to the Financial Statements - continued
for the year ended 28th February 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st March 2022
and 28th February 2023 444,971
DEPRECIATION
At 1st March 2022 327,422
Charge for year 25,525
At 28th February 2023 352,947
NET BOOK VALUE
At 28th February 2023 92,024
At 28th February 2022 117,549

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 309,878 127,755
Amounts owed by group undertakings 245,592 244,312
Other debtors - 8,825
VAT 29,481 48,070
Prepayments 25,572 28,923
610,523 457,885

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 15,583 88,416
Tax 210,674 133,873
Social security and other taxes 3,968 6,675
Directors' current accounts - 26,000
Deferred income 569,855 970,271
Accrued expenses 1,850 1,630
801,930 1,226,865

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100

Turner Timber Frames Limited (Registered number: 05202133)

Notes to the Financial Statements - continued
for the year ended 28th February 2023

8. TRANSACTIONS WITH RELATED PARTIES

During the year the company bought and sold services with its associated companies, who have common directorships, as follows:

Rents charged £48,000 (2022: £48,000)
Bought services and materials £332,844 (2022: £540,044)
Sold goods and services £6,341 (2022: £104,225)
Dividends in the year £625,000 (2022: £600,000)

9. ULTIMATE PARENT COMPANY

The ultimate parent company is Farslea Holdings Limited.