Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activity2truefalse2023-04-01false2true 08925560 2023-04-01 2024-03-31 08925560 2022-04-01 2023-03-31 08925560 2024-03-31 08925560 2023-03-31 08925560 2022-04-01 08925560 c:Director1 2023-04-01 2024-03-31 08925560 c:Director2 2023-04-01 2024-03-31 08925560 d:PlantMachinery 2023-04-01 2024-03-31 08925560 d:PlantMachinery 2024-03-31 08925560 d:PlantMachinery 2023-03-31 08925560 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08925560 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 08925560 d:MotorVehicles 2023-04-01 2024-03-31 08925560 d:MotorVehicles 2024-03-31 08925560 d:MotorVehicles 2023-03-31 08925560 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08925560 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 08925560 d:OfficeEquipment 2023-04-01 2024-03-31 08925560 d:OfficeEquipment 2024-03-31 08925560 d:OfficeEquipment 2023-03-31 08925560 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08925560 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 08925560 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08925560 d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 08925560 d:CurrentFinancialInstruments 2024-03-31 08925560 d:CurrentFinancialInstruments 2023-03-31 08925560 d:Non-currentFinancialInstruments 2024-03-31 08925560 d:Non-currentFinancialInstruments 2023-03-31 08925560 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 08925560 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08925560 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 08925560 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 08925560 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 08925560 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 08925560 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 08925560 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 08925560 d:ShareCapital 2024-03-31 08925560 d:ShareCapital 2023-03-31 08925560 d:RetainedEarningsAccumulatedLosses 2024-03-31 08925560 d:RetainedEarningsAccumulatedLosses 2023-03-31 08925560 c:FRS102 2023-04-01 2024-03-31 08925560 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08925560 c:FullAccounts 2023-04-01 2024-03-31 08925560 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08925560 d:HirePurchaseContracts d:WithinOneYear 2024-03-31 08925560 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 08925560 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-03-31 08925560 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 08925560 2 2023-04-01 2024-03-31 08925560 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 08925560 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 08925560 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-03-31 08925560 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-03-31 08925560 d:LeasedAssetsHeldAsLessee 2024-03-31 08925560 d:LeasedAssetsHeldAsLessee 2023-03-31 08925560 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 08925560










TURNER AGRICULTURAL SERVICES LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
TURNER AGRICULTURAL SERVICES LTD
REGISTERED NUMBER: 08925560

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
183,090
212,884

  
183,090
212,884

Current assets
  

Debtors: amounts falling due within one year
 5 
26,020
14,966

Cash at bank and in hand
  
7,996
9,145

  
34,016
24,111

Creditors: amounts falling due within one year
 6 
(91,396)
(66,921)

Net current liabilities
  
 
 
(57,380)
 
 
(42,810)

Total assets less current liabilities
  
125,710
170,074

Creditors: amounts falling due after more than one year
 7 
(45,792)
(76,288)

Provisions for liabilities
  

Deferred tax
 10 
(45,773)
(40,448)

  
 
 
(45,773)
 
 
(40,448)

Net assets
  
34,145
53,338


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
34,045
53,238

  
34,145
53,338


Page 1

 
TURNER AGRICULTURAL SERVICES LTD
REGISTERED NUMBER: 08925560
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


................................................
Mr M D Turner
................................................
Mrs S Turner
Director
Director


Date: 4 September 2024

The notes on pages 3 to 10 form part of these financial statements.



Page 2

 
TURNER AGRICULTURAL SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Turner Agricultural Services Ltd is a private company limited by shares and incorporated in England and Wales, registration number 08925560. The registered office is Denton Lodge, Market Hill, Colkirk, Fakenham, Norfolk, NR21 7NU.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
TURNER AGRICULTURAL SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery
-
15% reducing balance
Motor vehicles
-
15% reducing balance
Office equipment
-
20% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.8

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 4

 
TURNER AGRICULTURAL SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.11

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
TURNER AGRICULTURAL SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.13

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 6

 
TURNER AGRICULTURAL SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Plant & machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2023
297,731
34,771
1,767
334,269


Additions
2,300
-
266
2,566



At 31 March 2024

300,031
34,771
2,033
336,835



Depreciation


At 1 April 2023
106,479
13,685
1,221
121,385


Charge for the year on owned assets
8,157
3,163
162
11,482


Charge for the year on financed assets
20,878
-
-
20,878



At 31 March 2024

135,514
16,848
1,383
153,745



Net book value



At 31 March 2024
164,517
17,923
650
183,090



At 31 March 2023
191,252
21,086
546
212,884

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
118,307
139,185

118,307
139,185

Page 7

 
TURNER AGRICULTURAL SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
25,700
13,896

Prepayments and accrued income
320
1,070

26,020
14,966



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,204
9,952

Trade creditors
5,155
5,393

Corporation tax
24,435
5,994

Other taxation and social security
3,883
1,817

Obligations under finance lease and hire purchase contracts
20,292
19,591

Other creditors
24,778
21,523

Accruals and deferred income
2,649
2,651

91,396
66,921



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
12,231
22,435

Net obligations under finance leases and hire purchase contracts
33,561
53,853

45,792
76,288


Page 8

 
TURNER AGRICULTURAL SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,204
9,952


10,204
9,952

Amounts falling due 1-2 years

Bank loans
10,462
10,204


10,462
10,204

Amounts falling due 2-5 years

Bank loans
1,769
12,231


1,769
12,231


22,435
32,387



9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
20,292
19,591

Between 1-5 years
33,561
53,853

53,853
73,444

Hire purchase and finance lease agreements are secured on the assets concerned

Page 9

 
TURNER AGRICULTURAL SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Deferred taxation




2024
2023


£

£






At beginning of year
(40,448)
(61,609)


Charged to profit or loss
(5,325)
21,161



At end of year
(45,773)
(40,448)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(45,773)
(40,448)

(45,773)
(40,448)

 
Page 10