IRIS Accounts Production v24.1.0.578 10554305 Board of Directors 6.4.23 5.4.24 5.4.24 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh105543052023-04-05105543052024-04-05105543052023-04-062024-04-05105543052022-04-05105543052022-04-062023-04-05105543052023-04-0510554305ns15:EnglandWales2023-04-062024-04-0510554305ns14:PoundSterling2023-04-062024-04-0510554305ns10:Director12023-04-062024-04-0510554305ns10:PrivateLimitedCompanyLtd2023-04-062024-04-0510554305ns10:SmallEntities2023-04-062024-04-0510554305ns10:AuditExemptWithAccountantsReport2023-04-062024-04-0510554305ns10:SmallCompaniesRegimeForAccounts2023-04-062024-04-0510554305ns10:AbridgedAccounts2023-04-062024-04-0510554305ns10:OrdinaryShareClass12023-04-062024-04-0510554305ns10:Director22023-04-062024-04-0510554305ns10:RegisteredOffice2023-04-062024-04-0510554305ns5:CurrentFinancialInstruments2024-04-0510554305ns5:CurrentFinancialInstruments2023-04-0510554305ns5:Non-currentFinancialInstruments2024-04-0510554305ns5:Non-currentFinancialInstruments2023-04-0510554305ns5:ShareCapital2024-04-0510554305ns5:ShareCapital2023-04-0510554305ns5:RetainedEarningsAccumulatedLosses2024-04-0510554305ns5:RetainedEarningsAccumulatedLosses2023-04-0510554305ns5:LeaseholdImprovements2023-04-062024-04-0510554305ns5:PlantMachinery2023-04-062024-04-0510554305ns5:FurnitureFittings2023-04-062024-04-0510554305ns5:ComputerEquipment2023-04-062024-04-0510554305ns5:DeferredTaxation2023-04-0510554305ns5:DeferredTaxation2023-04-062024-04-0510554305ns5:DeferredTaxation2024-04-0510554305ns10:OrdinaryShareClass12024-04-05
REGISTERED NUMBER: 10554305 (England and Wales)


Turner and Turner Properties Ltd

Unaudited Financial Statements

for the Year Ended 5th April 2024






Turner and Turner Properties Ltd (Registered number: 10554305)






Contents of the Financial Statements
for the Year Ended 5th April 2024




Page

Company Information 1

Chartered Certified Accountants' Report 2

Abridged Balance Sheet 3

Notes to the Financial Statements 5


Turner and Turner Properties Ltd

Company Information
for the Year Ended 5th April 2024







DIRECTORS: Mrs S Y Turner
Mr J P G Turner





REGISTERED OFFICE: 11a Pheasant Walk
Littlemore
Oxfordshire
OX4 4XX





REGISTERED NUMBER: 10554305 (England and Wales)





ACCOUNTANTS: Naail & Co
Chartered Certified Accountants
69 Lambeth Walk
London
SE11 6DX

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Turner and Turner Properties Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Turner and Turner Properties Ltd for the year ended 5th April 2024 which comprise the Abridged Income Statement, Abridged 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Turner and Turner Properties Ltd, 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 Turner and Turner Properties Ltd and state those matters that we have agreed to state to the Board of Directors of Turner and Turner Properties Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Turner and Turner Properties Ltd 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 loss of Turner and Turner Properties Ltd. You consider that Turner and Turner Properties Ltd 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 Turner and Turner Properties Ltd. 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.






Naail & Co
Chartered Certified Accountants
69 Lambeth Walk
London
SE11 6DX


Date: .............................................

Turner and Turner Properties Ltd (Registered number: 10554305)

Abridged Balance Sheet
5th April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 5 4,463 5,577
Investment property 6 450,000 450,000
454,463 455,577

CURRENT ASSETS
Debtors 2,574 2,437
Cash at bank 9,913 506
12,487 2,943
CREDITORS
Amounts falling due within one year 123,143 110,054
NET CURRENT LIABILITIES (110,656 ) (107,111 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

343,807

348,466

CREDITORS
Amounts falling due after more than one
year

7

(227,362

)

(227,362

)

PROVISIONS FOR LIABILITIES 9 (848 ) (1,059 )
NET ASSETS 115,597 120,045

Turner and Turner Properties Ltd (Registered number: 10554305)

Abridged Balance Sheet - continued
5th April 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 115,497 119,945
SHAREHOLDERS' FUNDS 115,597 120,045

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5th April 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.

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 5th April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 19th August 2024 and were signed on its behalf by:





Mrs S Y Turner - Director


Turner and Turner Properties Ltd (Registered number: 10554305)

Notes to the Financial Statements
for the Year Ended 5th April 2024

1. STATUTORY INFORMATION

Turner and Turner Properties 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is generated from the ordinary activities of the business and is recognized when the right to consideration becomes due.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Turner and Turner Properties Ltd (Registered number: 10554305)

Notes to the Financial Statements - continued
for the Year Ended 5th April 2024

3. ACCOUNTING POLICIES - continued

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.

Going concern
In the directors' assessment of the company's ability to continue as a going concern, there are no material uncertainties that may cast significant doubt about the company's ability to continue as a going concern.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

5. PROPERTY, PLANT AND EQUIPMENT
Totals
£   
COST
At 6th April 2023
and 5th April 2024 16,432
DEPRECIATION
At 6th April 2023 10,855
Charge for year 1,114
At 5th April 2024 11,969
NET BOOK VALUE
At 5th April 2024 4,463
At 5th April 2023 5,577

Turner and Turner Properties Ltd (Registered number: 10554305)

Notes to the Financial Statements - continued
for the Year Ended 5th April 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 6th April 2023
and 5th April 2024 450,000
NET BOOK VALUE
At 5th April 2024 450,000
At 5th April 2023 450,000

Fair value at 5th April 2024 is represented by:
£   
Valuation in 2024 450,000

Investment properties were valued on an open market basis on 5th April 2024 by Mrs S Y Turner, the director .

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
FIVE YEARS
2024 2023
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 227,362 227,362

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 227,362 227,362

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 848 1,059

Turner and Turner Properties Ltd (Registered number: 10554305)

Notes to the Financial Statements - continued
for the Year Ended 5th April 2024

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 6th April 2023 1,059
Utilised during year (211 )
Balance at 5th April 2024 848

10. CALLED UP SHARE CAPITAL

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

11. RELATED PARTY DISCLOSURES

Mrs S Y Turner
Director & 50% shareholder

At the reporting date, the company owed £60,970 (2023: £54,427) to Mrs Turner. This is an interest free loan with no set repayment terms.


Mr J P Turner
Director & 50% shareholder

At the reporting date, the company owed £60,971 (2023: £54,426) to Mr Turner. This is an interest free loan with no set repayment terms.