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REGISTERED NUMBER: 08785835 (England and Wales)







FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

TURNER'S TOP SHOP LIMITED

TURNER'S TOP SHOP LIMITED (REGISTERED NUMBER: 08785835)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TURNER'S TOP SHOP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: Mr P R Turner
Mrs J R Turner





REGISTERED OFFICE: 16-18 Sydney Cottage Drive
Bridgnorth
Shropshire
WV16 4PP





REGISTERED NUMBER: 08785835 (England and Wales)





ACCOUNTANTS: Stanton Ralph & Co Limited
Chartered Accountants
The Old Police Station
Whitburn Street
Bridgnorth
Shropshire
WV16 4QP

TURNER'S TOP SHOP LIMITED (REGISTERED NUMBER: 08785835)

BALANCE SHEET
31ST DECEMBER 2023

31.12.22 31.12.23
£    £    Notes £    £   
FIXED ASSETS
- Intangible assets 4 -
89,575 Tangible assets 5 82,765
89,575 82,765

CURRENT ASSETS
20,000 Stocks 20,000
81,993 Debtors 6 6,855
250,567 Cash at bank and in hand 308,889
352,560 335,744
CREDITORS
171,179 Amounts falling due within one year 7 75,305
181,381 NET CURRENT ASSETS 260,439
270,956 TOTAL ASSETS LESS CURRENT LIABILITIES 343,204

1,042 PROVISIONS FOR LIABILITIES 8 4,246
269,914 NET ASSETS 338,958

CAPITAL AND RESERVES
100 Called up share capital 9 100
269,814 Retained earnings 338,858
269,914 SHAREHOLDERS' FUNDS 338,958

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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'S TOP SHOP LIMITED (REGISTERED NUMBER: 08785835)

BALANCE SHEET - continued
31ST DECEMBER 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 28th March 2024 and were signed on its behalf by:




Mrs J R Turner - Director



Mr P R Turner - Director


TURNER'S TOP SHOP LIMITED (REGISTERED NUMBER: 08785835)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

1. STATUTORY INFORMATION

Turner's Top Shop 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 fair value of the consideration received or receivable net of VAT. The policies adopted for the recognition of turnover are as follows:

Sale of goods
Turnover for the sale of retail goods is recognised when the significant risks and rewards of ownership of the goods have been passed to the buyer, and can be measured reliably.

Commission income
Fees and commissions received are recognised in the income statement on an accruals basis as services are provided.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, has been amortised evenly over its estimated useful life of five years and has now been fully amortised.

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 - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered 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.

TURNER'S TOP SHOP LIMITED (REGISTERED NUMBER: 08785835)

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

2. ACCOUNTING POLICIES - continued

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.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2023
and 31st December 2023 100,000
AMORTISATION
At 1st January 2023
and 31st December 2023 100,000
NET BOOK VALUE
At 31st December 2023 -
At 31st December 2022 -

5. TANGIBLE FIXED ASSETS
Freehold Motor
Totals property Equipment vehicles
£    £    £    £   
COST
At 1st January 2023 198,604 95,959 89,103 13,542
Additions 2,692 292 2,400 -
At 31st December 2023 201,296 96,251 91,503 13,542
DEPRECIATION
At 1st January 2023 109,029 25,663 69,824 13,542
Charge for year 9,502 4,806 4,696 -
At 31st December 2023 118,531 30,469 74,520 13,542
NET BOOK VALUE
At 31st December 2023 82,765 65,782 16,983 -
At 31st December 2022 89,575 70,296 19,279 -

TURNER'S TOP SHOP LIMITED (REGISTERED NUMBER: 08785835)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 6,855 11,993
Other debtors - 70,000
6,855 81,993

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 7,280 32,666
Tax 32,250 24,042
Social security and other taxes 11,275 3,492
Directors' current accounts 2,840 96,983
Accrued expenses 21,660 13,996
75,305 171,179

8. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 4,246 1,042

Deferred
tax
£   
Balance at 1st January 2023 1,042
Charge to Income Statement during year 3,204
Balance at 31st December 2023 4,246

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100

10. RELATED PARTY DISCLOSURES

The loan to WA & SE Grant Ltd, during 2020 and 2021 a company in which the daughter of the director shareholders is a director shareholder, this was fully repaid in this year. (2022 £70,000). No interest is charged.