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REGISTERED NUMBER: 06948504 (England and Wales)















Turnleys Ltd

Unaudited Financial Statements

for the Year Ended 30 June 2023






Turnleys Ltd (Registered number: 06948504)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Turnleys Ltd

Company Information
for the Year Ended 30 June 2023







DIRECTORS: M Turner
D Loxley





REGISTERED OFFICE: Unit 47
Court Rd Industrial Estate
Cwmbran
Gloucestershire
NP44 3AS





REGISTERED NUMBER: 06948504 (England and Wales)





ACCOUNTANTS: Griffiths Green Arnold
Accountants & Business Advisors
11 New Street
Pontnewydd
Cwmbran
NP44 1EE

Turnleys Ltd (Registered number: 06948504)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 69,575 88,945

CURRENT ASSETS
Debtors 5 500,983 639,486
Cash at bank 421,372 369,639
922,355 1,009,125
CREDITORS
Amounts falling due within one year 6 408,309 581,523
NET CURRENT ASSETS 514,046 427,602
TOTAL ASSETS LESS CURRENT
LIABILITIES

583,621

516,547

CREDITORS
Amounts falling due after more than one year 7 (53,014 ) (67,207 )

PROVISIONS FOR LIABILITIES (13,000 ) (9,882 )
NET ASSETS 517,607 439,458

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 517,507 439,358
SHAREHOLDERS' FUNDS 517,607 439,458

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 14 March 2024 and were signed on its behalf by:



M Turner - Director


Turnleys Ltd (Registered number: 06948504)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Turnleys Ltd 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Turnleys Ltd (Registered number: 06948504)

Notes to the Financial Statements - continued
for the Year Ended 30 June 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 16 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 July 2022 27,854 2,226 164,923 195,003
Additions 4,340 - - 4,340
At 30 June 2023 32,194 2,226 164,923 199,343
DEPRECIATION
At 1 July 2022 12,046 927 93,085 106,058
Charge for year 5,491 260 17,959 23,710
At 30 June 2023 17,537 1,187 111,044 129,768
NET BOOK VALUE
At 30 June 2023 14,657 1,039 53,879 69,575
At 30 June 2022 15,808 1,299 71,838 88,945

The net book value of tangible fixed assets include £27,330 (2022 - £50,279) in respect of assets held under hire purchase assets

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 495,139 633,485
Other debtors 5,844 6,001
500,983 639,486

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Hire purchase contracts 7,080 13,985
Trade creditors 223,272 265,084
Taxation and social security 154,873 145,873
Other creditors 23,084 156,581
408,309 581,523

Turnleys Ltd (Registered number: 06948504)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans 28,956 39,071
Hire purchase contracts 24,058 28,136
53,014 67,207

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Hire purchase contracts 31,138 42,121

Hire purchase contracts are secured on the asset to which they relate.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022:

30.6.23 30.6.22
£    £   
M Turner
Balance outstanding at start of year 3,844 3,844
Amounts advanced - 2,000
Amounts repaid (3,844 ) (2,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 3,844