Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falseNo description of principal activity77truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00557745 2022-04-01 2023-03-31 00557745 2021-04-01 2022-03-31 00557745 2023-03-31 00557745 2022-03-31 00557745 c:Director2 2022-04-01 2023-03-31 00557745 d:PlantMachinery 2022-04-01 2023-03-31 00557745 d:MotorVehicles 2022-04-01 2023-03-31 00557745 d:FurnitureFittings 2022-04-01 2023-03-31 00557745 d:OfficeEquipment 2022-04-01 2023-03-31 00557745 d:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 00557745 d:OtherPropertyPlantEquipment 2023-03-31 00557745 d:OtherPropertyPlantEquipment 2022-03-31 00557745 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 00557745 d:CurrentFinancialInstruments 2023-03-31 00557745 d:CurrentFinancialInstruments 2022-03-31 00557745 d:Non-currentFinancialInstruments 2023-03-31 00557745 d:Non-currentFinancialInstruments 2022-03-31 00557745 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 00557745 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 00557745 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 00557745 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 00557745 d:ShareCapital 2023-03-31 00557745 d:ShareCapital 2022-03-31 00557745 d:SharePremium 2023-03-31 00557745 d:SharePremium 2022-03-31 00557745 d:OtherMiscellaneousReserve 2023-03-31 00557745 d:OtherMiscellaneousReserve 2022-03-31 00557745 d:RetainedEarningsAccumulatedLosses 2023-03-31 00557745 d:RetainedEarningsAccumulatedLosses 2022-03-31 00557745 c:FRS102 2022-04-01 2023-03-31 00557745 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 00557745 c:FullAccounts 2022-04-01 2023-03-31 00557745 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 00557745 e:PoundSterling 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 00557745









HENRY TURNER (MACHINE TOOLS) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
HENRY TURNER (MACHINE TOOLS) LIMITED
REGISTERED NUMBER: 00557745

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
42,956
55,212

  
42,956
55,212

Current assets
  

Stocks
  
215,349
140,992

Debtors: amounts falling due within one year
 5 
734,857
464,255

Cash at bank and in hand
 6 
232,293
278,857

  
1,182,499
884,104

Creditors: amounts falling due within one year
 7 
(761,186)
(560,738)

Net current assets
  
 
 
421,313
 
 
323,366

Total assets less current liabilities
  
464,269
378,578

Creditors: amounts falling due after more than one year
 8 
-
(16,929)

  

Net assets
  
464,269
361,649


Capital and reserves
  

Called up share capital 
  
11,375
11,375

Share premium account
  
3,725
3,725

Other reserves
  
4,000
4,000

Profit and loss account
  
445,169
342,549

  
464,269
361,649


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
Page 1

 
HENRY TURNER (MACHINE TOOLS) LIMITED
REGISTERED NUMBER: 00557745
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 December 2023.

A J Turner
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
HENRY TURNER (MACHINE TOOLS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Henry Turner Machine Tools 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

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 3

 
HENRY TURNER (MACHINE TOOLS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
HENRY TURNER (MACHINE TOOLS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as detailed.

Depreciation is provided on the following basis:

Plant & machinery
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures & fittings
-
10% straight line
Office equipment
-
25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2022 - 7).

Page 5

 
HENRY TURNER (MACHINE TOOLS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Other fixed assets

£



Cost or valuation


At 1 April 2022
209,902


Additions
29,509


Disposals
(24,803)



At 31 March 2023

214,608



Depreciation


At 1 April 2022
154,690


Charge for the year on financed assets
23,163


Disposals
(6,201)



At 31 March 2023

171,652



Net book value



At 31 March 2023
42,956



At 31 March 2022
55,212


5.


Debtors

2023
2022
£
£


Trade debtors
717,420
457,140

Other debtors
4,709
-

Prepayments and accrued income
12,728
7,115

734,857
464,255


Page 6

 
HENRY TURNER (MACHINE TOOLS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
232,293
278,857

232,293
278,857



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
342,714
248,249

Corporation tax
41,488
36,102

Other taxation and social security
213,862
135,320

Obligations under finance lease and hire purchase contracts
33,776
26,616

Other creditors
54,000
54,000

Accruals and deferred income
75,346
60,451

761,186
560,738



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
-
16,929

-
16,929



9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
-
26,616

Between 1-5 years
-
16,929

-
43,545

Page 7

 
HENRY TURNER (MACHINE TOOLS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £72,894 (2022 - £29,327). 


11.


Controlling party

 The controlling party is A J Turner, a director of the parent company Turner Electronic Holdings Limited.
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