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REGISTERED NUMBER: 09986646 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29TH FEBRUARY 2024

FOR

TURTON NEWS & OFF LICENCE LTD

TURTON NEWS & OFF LICENCE LTD (REGISTERED NUMBER: 09986646)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 29th February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TURTON NEWS & OFF LICENCE LTD

COMPANY INFORMATION
for the Year Ended 29th February 2024







Directors: Mrs V H Hirani
H Hirani





Registered office: 174 Turton Road
Bromley Cross
Bolton
Lancashire
BL2 3EE





Registered number: 09986646 (England and Wales)





Accountants: DBF Associates
Chartered Accountants
South Cheetham B C
10 Park Place
Manchester
Lancashire
M4 4EY

TURTON NEWS & OFF LICENCE LTD (REGISTERED NUMBER: 09986646)

BALANCE SHEET
29th February 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 18,300 19,825
Tangible assets 5 48,841 54,682
67,141 74,507

Current assets
Stocks 14,357 16,219
Debtors 6 940 1,187
Cash at bank and in hand 28,171 21,268
43,468 38,674
Creditors
Amounts falling due within one year 7 5,627 3,845
Net current assets 37,841 34,829
Total assets less current liabilities 104,982 109,336

Creditors
Amounts falling due after more than one year 8 84,325 91,525
Net assets 20,657 17,811

Capital and reserves
Called up share capital 9 100 100
Retained earnings 20,557 17,711
Shareholders' funds 20,657 17,811

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 2024 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.

TURTON NEWS & OFF LICENCE LTD (REGISTERED NUMBER: 09986646)

BALANCE SHEET - continued
29th February 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4th April 2024 and were signed on its behalf by:




Mrs V H Hirani - Director



H Hirani - Director


TURTON NEWS & OFF LICENCE LTD (REGISTERED NUMBER: 09986646)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 29th February 2024

1. Statutory information

Turton News & Off Licence 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.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 10% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. Employees and directors

The average number of employees during the year was 3 (2023 - 3 ) .

TURTON NEWS & OFF LICENCE LTD (REGISTERED NUMBER: 09986646)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29th February 2024

4. Intangible fixed assets
Goodwill
£   
Cost
At 1st March 2023
and 29th February 2024 30,500
Amortisation
At 1st March 2023 10,675
Charge for year 1,525
At 29th February 2024 12,200
Net book value
At 29th February 2024 18,300
At 28th February 2023 19,825

5. Tangible fixed assets
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
Cost
At 1st March 2023
and 29th February 2024 5,381 57,990 63,371
Depreciation
At 1st March 2023 2,890 5,799 8,689
Charge for year 622 5,219 5,841
At 29th February 2024 3,512 11,018 14,530
Net book value
At 29th February 2024 1,869 46,972 48,841
At 28th February 2023 2,491 52,191 54,682

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Other debtors 940 1,187

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 104 396
Taxation and social security 3,323 1,354
Other creditors 2,200 2,095
5,627 3,845

TURTON NEWS & OFF LICENCE LTD (REGISTERED NUMBER: 09986646)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29th February 2024

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Other creditors 84,325 91,525

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100