Company registration number 07256791 (England and Wales)
TURN PIKE SOLUTIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
TURN PIKE SOLUTIONS LIMITED
COMPANY INFORMATION
Directors
Mr G A Storry
Mrs L L Storry
Company number
07256791
Registered office
Days Farm
Marlbank Road
Welland
Malvern
Worcestershire
WR13 6NA
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Lloyds Bank Plc
130 High Street
Cheltenham
Gloucestershire
GL50 1EW
TURN PIKE SOLUTIONS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
TURN PIKE SOLUTIONS LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF TURN PIKE SOLUTIONS LIMITED FOR THE YEAR ENDED 30 APRIL 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Turn Pike Solutions Limited for the year ended 30 April 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Turn Pike Solutions Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Turn Pike Solutions Limited and state those matters that we have agreed to state to the board of directors of Turn Pike Solutions Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Turn Pike Solutions Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Turn Pike Solutions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Turn Pike Solutions Limited. You consider that Turn Pike Solutions Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Turn Pike Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
12 August 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
TURN PIKE SOLUTIONS LIMITED
BALANCE SHEET
AS AT 30 APRIL 2024
30 April 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
484
646
Investment property
4
1,106,718
1,106,718
1,107,202
1,107,364
Current assets
Debtors
5
17,028
12,995
Cash at bank and in hand
25,604
41,154
42,632
54,149
Creditors: amounts falling due within one year
6
(926,132)
(968,115)
Net current liabilities
(883,500)
(913,966)
Net assets
223,702
193,398
Capital and reserves
Called up share capital
7
2
2
Profit and loss reserves
223,700
193,396
Total equity
223,702
193,398

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 12 August 2024 and are signed on its behalf by:
Mr G A Storry
Director
Company registration number 07256791 (England and Wales)
TURN PIKE SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information

Turn Pike Solutions Limited is a private company limited by shares incorporated in England and Wales. The registered office is Days Farm, Marlbank Road, Welland, Malvern, Worcestershire, WR13 6NA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rents and services provided in the normal course of business. The fair value of consideration takes into account any lease premiums or rent free periods, which are recognised on a straight line basis over the lease term.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

Revenue from the provision of property rental is recognised by reference to the period of its occupancy and where the amount of rent can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% on reducing balance
1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

TURN PIKE SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 May 2023 and 30 April 2024
16,435
Depreciation and impairment
At 1 May 2023
15,789
Depreciation charged in the year
162
At 30 April 2024
15,951
Carrying amount
At 30 April 2024
484
At 30 April 2023
646
TURN PIKE SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
4
Investment property
2024
£
Fair value
At 1 May 2023 and 30 April 2024
1,106,718

It is in the opinion of the directors that the market value of investment property is not considered to be significantly different from the carrying value held at historical cost.

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
353
353
Deferred tax asset
16,675
12,642
17,028
12,995
6
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
6,475
5,303
Other creditors
919,657
962,812
926,132
968,115
TURN PIKE SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
-
2
-
2.00
Ordinary A of 1p each
75
-
0.75
-
Ordinary B of 1p each
75
-
0.75
-
Ordinary C of 1p each
25
-
0.25
-
Ordinary D of 1p each
25
-
0.25
-
200
2
2.00
2.00

During the year, the company passed an ordinary resolution by subdividing 2 Ordinary £1 shares into 200 Ordinary 1p shares.

 

Subsequently, the company then reclassified 200 Ordinary 1p shares into the following:

 

75 Ordinary A 1p shares

75 Ordinary B 1p shares

25 Ordinary C 1p shares

25 Ordinary D 1p shares

 

The rights and privileges attached to these shares remain unaltered.

8
Ultimate controlling party

The ultimate controlling party is Mr G A Storry and Mrs L L Storry.

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