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Turnbull & Co Accountants Limited
Registered Number:04750307
For the year ended 29 June 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 29 June 2023
Turnbull & Co Accountants Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
04750307
As at 29 June 2023
Turnbull & Co Accountants Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Intangible assets
-
1,580
2
Property, plant and equipment
3,750
4,300
3
3,750
5,880
Current assets
Inventories
30,752
30,967
4
Trade and other receivables
53,296
54,909
5
112,605
Cash and cash equivalents
76,169
162,045
196,653
Trade and other payables: amounts falling due within one
year
(54,614)
(47,095)
6
142,039
114,950
Net current assets
Total assets less current liabilities
118,700
147,919
(708)
(811)
Provisions for liabilities
117,992
Net assets
147,108
Capital and reserves
Called up share capital
1
1
Retained earnings
117,991
147,107
117,992
147,108
Shareholders' funds
For the year ended 29 June 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 29 June 2023 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
I J Taberner Director
These financial statements were approved and authorised for issue by the Board on 13 March 2024 and were signed by:
The notes form part of these financial statements
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4
For the year ended 29 June 2023
Turnbull & Co Accountants Limited
Notes to the Financial Statements
Statutory Information
Turnbull & Co Accountants Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 04750307.
Registered address:
PIlgrim House
Oxford Place
Plymouth
Devon
PL1 5AJ
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention.
Revenue recognition
Turnover represents income from the provision of audit, accountnacy and taxation services at invoice value, excluding value added tax.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business is being amortised evenly over its estimated useful life of 20 years.
Property, plant and equipment
Tangible fixed assets are stated at cost less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Leasehold improvements
25% Reducing balance
25% Reducing balance
Furniture and office equipment
25% Reducing balance
Fixtures and fittings
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
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5
For the year ended 29 June 2023
Turnbull & Co Accountants Limited
Notes to the Financial Statements Continued
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 30 June 2022
31,600
At 29 June 2023
31,600
Amortisation
At 30 June 2022
30,020
1,580
Charge for year
At 29 June 2023
31,600
Net book value
At 29 June 2023
-
At 29 June 2022
1,580
3. Property, plant and equipment
Total
Furniture and
office
equipment
Fixtures and
fittings
Leasehold
improvements
£
£
£
£
Cost or
valuation
At 30 June 2022
33,965
30,316
2,632
1,017
699
699
-
-
Additions
At 29 June 2023
1,017
2,632
31,015
34,664
Provision for depreciation and impairment
At 30 June 2022
29,665
26,578
2,094
993
Charge for year
1,249
1,109
134
6
At 29 June 2023
30,914
27,687
2,228
999
At 29 June 2023
Net book value
18
404
3,328
3,750
At 29 June 2022
24
538
3,738
4,300
4. Inventories
2022
2023
£
£
Stocks
30,967
30,752
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6
For the year ended 29 June 2023
Turnbull & Co Accountants Limited
Notes to the Financial Statements Continued
5. Trade and other receivables
2022
2023
£
£
Trade debtors
39,737
42,991
Other debtors
15,172
10,305
53,296
54,909
6. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Trade creditors
10,854
6,754
Taxation and social security
21,314
36,516
Other creditors
14,927
11,344
47,095
54,614
Included within taxation and social security is corporation tax of £5,438 (2022: £10,803).
7. Related party transactions
Dividends of £49,648 were paid to the director in the year.
The company is under the effective control of its director.
8. Directors advances and guarantees
At 30/06/2022
Loaned
Repaid
At 29/06/2023
£
£
£
£
I J Taberner
Loan from director
13,433
10,643
3,428
638
13,433
10,643
3,428
638
9. Average number of persons employed
During the year the average number of employees was 7 (2022 : 7)
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