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Registered Number: 08305762
England and Wales

 

 

 


Unaudited Financial Statements

for the period ended 31 December 2023

for

THE TURNER AGENCY COMMUNICATIONS LTD

Directors K J Caldwell
E M Zutshi
J A Lewendon
M P Turner
S D Baxter
L A Charles
R Price
Registered Number 08305762
Registered Office The Lightbox
Willoughby Road
Bracknell
Berkshire
RG12 8FB
Accountants Sole Associates SVR Limited
3 Park Court
Pyrford Road
West Byfleet
Surrey
KT14 6SD
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 December 2023
Directors
The directors who served the company throughout the period were as follows:
E M Zutshi
J A Lewendon
M P Turner
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
M P Turner
Director

Date approved: 01 July 2024
2
In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the accounts of The Turner Agency Communications Ltd for the period ended 31 December 2023 which comprise the Income Statement, the Statement of Financial Position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the member of The Turner Agency Communications Ltd, as a body, in accordance with the terms of our engagement letter dated 02 July 2024. Our work has been undertaken solely to prepare for your approval the accounts of The Turner Agency Communications Ltd and state those matters that we have agreed to state to the Board ofs of The Turner Agency Communications Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants and 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 Turner Agency Communications Ltd and its members as a body for our work or for this report.

It is your duty to ensure that The Turner Agency Communications Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and Profit of The Turner Agency Communications Ltd. You consider that The Turner Agency Communications 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 accounts of The Turner Agency Communications 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 accounts.



....................................................
Sole Associates SVR Limited
3 Park Court
Pyrford Road
West Byfleet
Surrey
KT14 6SD
01 July 2024
3
 
 
Notes
 
2023
£
  2023
£
Fixed assets      
Investments 3 788,743    788,743 
788,743    788,743 
Current assets      
Debtors: amounts falling due within one year 4 200    200 
Creditors: amount falling due within one year 5 (445,384)   (444,299)
Net current assets (445,184)   (444,099)
 
Total assets less current liabilities 343,559    344,644 
Creditors: amount falling due after more than one year 6 (194,387)   (640,206)
Net assets 149,172    (295,562)
 

Capital and reserves
     
Called up share capital 7 200    200 
Profit and loss account 148,972    (295,762)
Shareholder's funds 149,172    (295,562)
 


For the period ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 01 July 2024 and were signed on its behalf by:


-------------------------------
M P Turner
Director
4
  Preference share capital   Retained Earnings   Total
£ £ £
At 01 April 2022 100  (227,129) (226,929)
Profit for the period (58,633) (58,633)
Total comprehensive income for the period (58,633) (58,633)
Dividends (10,000) (10,000)
Total investments by and distributions to owners (10,000) (10,000)
At 31 March 2023 100  (295,762) (295,562)
At 01 April 2023 200  (295,762) (295,562)
Profit for the period 454,734  454,734 
Total comprehensive income for the period 454,734  454,734 
Dividends (10,000) (10,000)
Total investments by and distributions to owners (10,000) (10,000)
At 31 December 2023 200  148,972  149,172 
5
General Information
The Turner Agency Communications Ltd is a private company, limited by shares, registered in England and Wales, registration number 08305762, registration address The Lightbox, Willoughby Road, Bracknell, Berkshire, RG12 8FB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Group accounts
The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has, therefore, taken advantage of the option provided by section 398 of the Companies Act 2006 not to prepare group accounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Preference dividends
Where preference shares are classed as liabilities rather than equity any preference dividends paid are included in interest payable and similar charges within the income statement.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Preference shares
The company's preference shares are treated as a financial liability since they are subject to mandatory redemption for a fixed or determinable amount at a fixed or determinable time and are thus included in creditors in the statement of financial position rather than as part of the company's issued share capital.
2.

Average number of employees

Average number of employees during the period was 0 (2023 : 0).
3.

Investments

Cost Investments in group undertakings   Total
  £   £
At 01 April 2023 788,743    788,743 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 31 December 2023 788,743    788,743 

4.

Debtors: amounts falling due within one year

2023
£
  2023
£
Other Debtors 200    200 
200    200 

5.

Creditors: amount falling due within one year

2023
£
  2023
£
Amounts Owed to Group Undertakings  
Accrued Expenses 650    650 
Other Creditors 444,734    443,649 
445,384    444,299 

6.

Creditors: amount falling due after more than one year

2023
£
  2023
£
Other Creditors 194,387    640,206 
194,387    640,206 

7.

Share Capital

Allotted, called up and fully paid
2023
£
  2023
£
200 Ordinary shares of £1.00 each 200    200 
200    200 

8.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2023
£
 2023
£
 2023
£
 2023
£
Related Party639,121 1,083,855 
9.

Related Party Note

On 6th December 2012, the company purchased 100% of the shares of The Turner Agency Limited, a company wholly owned by Mr P A and Mrs C C Turner, for £3,500,000. After an initial consideration payment of £1,200,000, the balance of £2,300,000 is to be paid by instalments over the succeeding years. Interest is payable at 2.75% per annum on the loan amount outstanding at any time. The loan outstanding is guaranteed by the company, The Turner Agency Limited.

During the year the company received £455,452 (31.03.23:£2,844,041) in dividends from its subsidiary The Turner Agency Limited.  
6