Company registration number 04255449 (England and Wales)
Stock-Turn (Leeds) Limited
Unaudited
financial statements
for the year ended 31 December 2023
PAGES FOR FILING WITH REGISTRAR
Stock-Turn (Leeds) Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Stock-Turn (Leeds) Limited
Balance sheet
as at 31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
4
33,988
46,174
Creditors: amounts falling due within one year
5
(31,739)
(33,791)
Net current assets
2,249
12,383
Creditors: amounts falling due after more than one year
6
(25,541)
(29,919)
Net liabilities
(23,292)
(17,536)
Capital and reserves
Called up share capital
99
99
Profit and loss reserves
(23,391)
(17,635)
Total equity
(23,292)
(17,536)

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

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

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have 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 and signed by the director and authorised for issue on 11 September 2024
Mr M G Sorkin
Director
Company registration number 04255449 (England and Wales)
Stock-Turn (Leeds) Limited
Notes to the financial statements
for the year ended 31 December 2023
- 2 -
1
Accounting policies
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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

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, fittings & equipment
33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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.

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.

Stock-Turn (Leeds) Limited
Notes to the financial statements (continued)
for the year ended 31 December 2023
- 3 -
2
Employees

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

2023
2022
Number
Number
Total
1
1
3
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 January 2023 and 31 December 2023
11,798
Depreciation and impairment
At 1 January 2023 and 31 December 2023
11,798
Carrying amount
At 31 December 2023
-
0
At 31 December 2022
-
0
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
-
0
2,432
Other debtors
33,988
43,742
33,988
46,174
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
29,989
30,458
Taxation and social security
-
0
1,583
Other creditors
1,750
1,750
31,739
33,791
Stock-Turn (Leeds) Limited
Notes to the financial statements (continued)
for the year ended 31 December 2023
- 4 -
6
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans and overdrafts
25,541
29,919
7
Company information

Stock-Turn (Leeds) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Apartment C Victoria House, 38 Victoria Avenue, Harrogate, North Yorkshire, HG1 5PR.

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