IRIS Accounts Productionv24.1.4.3301789896Board of Directors1.1.2331.12.2331.12.23truefalsetruefalsefalsetruefalseOrdinary1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh017898962022-12-31017898962023-12-31017898962023-01-012023-12-31017898962021-12-31017898962022-01-012022-12-31017898962022-12-3101789896ns14:PoundSterling2023-01-012023-12-3101789896ns10:Director12023-01-012023-12-3101789896ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3101789896ns10:SmallEntities2023-01-012023-12-3101789896ns10:AuditExemptWithAccountantsReport2023-01-012023-12-3101789896ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3101789896ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3101789896ns10:FullAccounts2023-01-012023-12-3101789896ns10:OrdinaryShareClass12023-01-012023-12-3101789896ns10:Director22023-01-012023-12-3101789896ns10:Director32023-01-012023-12-3101789896ns10:Director42023-01-012023-12-3101789896ns10:Director52023-01-012023-12-3101789896ns10:Director62023-01-012023-12-3101789896ns10:CompanySecretary12023-01-012023-12-3101789896ns10:RegisteredOffice2023-01-012023-12-3101789896ns5:CurrentFinancialInstruments2023-12-3101789896ns5:CurrentFinancialInstruments2022-12-3101789896ns5:Non-currentFinancialInstruments2023-12-3101789896ns5:Non-currentFinancialInstruments2022-12-3101789896ns5:ShareCapital2023-12-3101789896ns5:ShareCapital2022-12-3101789896ns5:SharePremium2023-12-3101789896ns5:SharePremium2022-12-3101789896ns5:RevaluationReserve2023-12-3101789896ns5:RevaluationReserve2022-12-3101789896ns5:RetainedEarningsAccumulatedLosses2023-12-3101789896ns5:RetainedEarningsAccumulatedLosses2022-12-3101789896ns5:ShortLeaseholdAssetsns5:LandBuildings2023-01-012023-12-3101789896ns5:MotorVehicles2023-01-012023-12-3101789896ns5:ShortLeaseholdAssetsns5:LandBuildings2022-12-3101789896ns5:PlantMachinery2022-12-3101789896ns5:MotorVehicles2022-12-3101789896ns5:PlantMachinery2023-01-012023-12-3101789896ns5:ShortLeaseholdAssetsns5:LandBuildings2023-12-3101789896ns5:PlantMachinery2023-12-3101789896ns5:MotorVehicles2023-12-3101789896ns5:ShortLeaseholdAssetsns5:LandBuildings2022-12-3101789896ns5:PlantMachinery2022-12-3101789896ns5:MotorVehicles2022-12-3101789896ns5:CostValuation2022-12-3101789896ns5:AdditionsToInvestments2023-12-3101789896ns5:CostValuation2023-12-3101789896ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3101789896ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3101789896ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-12-3101789896ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-12-3101789896ns10:OrdinaryShareClass12023-12-3101789896ns5:RetainedEarningsAccumulatedLosses2022-12-3101789896ns5:SharePremium2022-12-3101789896ns5:RevaluationReserve2022-12-3101789896ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-31

REGISTERED NUMBER: 01789896













Unaudited Financial Statements

for the Year Ended 31 December 2023


for



Turnell and Gigon Ltd



Turnell and Gigon Ltd (Registered number: 01789896)








Contents of the Financial Statements

for the Year Ended 31 December 2023





Page




Company Information  

1




Balance Sheet  

2




Notes to the Financial Statements  

4




Report of the Accountants  

9




Turnell and Gigon Ltd



Company Information

for the Year Ended 31 December 2023









DIRECTORS:

Miss M. Gigon


M.J. Gomez


M J Cotsford


Ms K I Hallam


M J R Gomez


Ms L K Crompton







SECRETARY:

Ms K I Hallam







REGISTERED OFFICE:

410 The Chambers


Chelsea Harbour Design Centre


London


SW10 0XE







REGISTERED NUMBER:

01789896







ACCOUNTANTS:

PB Associates


Chartered Accountants and Chartered Tax Advisers


2 Castle Business Village


Station Road


Hampton


Middlesex


TW12 2BX



Turnell and Gigon Ltd (Registered number: 01789896)



Balance Sheet

31 December 2023



31.12.23

31.12.22



Notes

£   

£   

£   

£   


FIXED ASSETS

Tangible assets

3

229,991


216,270



Investments

4

1,421,429


667,799



1,651,420


884,069




CURRENT ASSETS

Stocks

84,195


84,195



Debtors

5

1,241,180


1,133,552



Cash in hand

270


826



1,325,645


1,218,573



CREDITORS

Amounts falling due within one year

6

2,263,323


1,261,159



NET CURRENT LIABILITIES

(937,678

)

(42,586

)


TOTAL ASSETS LESS CURRENT

LIABILITIES

713,742


841,483




CREDITORS

Amounts falling due after more than one

year

7

172,461


300,000



NET ASSETS

541,281


541,483





Turnell and Gigon Ltd (Registered number: 01789896)



Balance Sheet - continued

31 December 2023



31.12.23

31.12.22



Notes

£   

£   

£   

£   


CAPITAL AND RESERVES

Called up share capital

8

8,000


8,000



Share premium

9

192,731


192,731



Revaluation reserve

9

347,527


347,527



Retained earnings

9

(6,977

)

(6,775

)


SHAREHOLDERS' FUNDS

541,281


541,483




The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.  


The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.  


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 17 September 2024  and were signed on its behalf by:






M.J. Gomez - Director




Turnell and Gigon Ltd (Registered number: 01789896)



Notes to the Financial Statements

for the Year Ended 31 December 2023


1.

ACCOUNTING POLICIES



Basis of preparing the financial statements


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



Turnover

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


Tangible fixed assets


Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.  


Short leasehold

-

10% on cost


Motor vehicles

-

25% on cost



Investments in subsidiaries


Investments in subsidiary undertakings are recognised at cost.



Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


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.


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.


Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.



Turnell and Gigon Ltd (Registered number: 01789896)



Notes to the Financial Statements - continued

for the Year Ended 31 December 2023


1.

ACCOUNTING POLICIES - continued



Consolidation


In the opinion of the directors the company and its subsidiaries comprise a small group.  The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.


2.

EMPLOYEES AND DIRECTORS



The average number of employees during the year was 19 (2022 - 15 ) .


3.

TANGIBLE FIXED ASSETS


Short


Plant and


Motor



leasehold


machinery


vehicles


Totals

£   

£   

£   

£   



COST


At 1 January 2023

226,797


418,763


58,800


704,360




Additions

7,514


2,116


71,833


81,463




Disposals

-


-


(58,800

)

(58,800

)



At 31 December 2023

234,311


420,879


71,833


727,023




DEPRECIATION


At 1 January 2023

113,254


329,273


45,563


488,090




Charge for year

19,570


25,047


9,888


54,505




Eliminated on disposal

-


-


(45,563

)

(45,563

)



At 31 December 2023

132,824


354,320


9,888


497,032




NET BOOK VALUE


At 31 December 2023

101,487


66,559


61,945


229,991




At 31 December 2022

113,543


89,490


13,237


216,270





Turnell and Gigon Ltd (Registered number: 01789896)



Notes to the Financial Statements - continued

for the Year Ended 31 December 2023


4.

FIXED ASSET INVESTMENTS


Shares in



group


Other



undertakings


investments


Totals

£   

£   

£   



COST OR VALUATION


At 1 January 2023

661,546


6,253


667,799




Additions

753,630


-


753,630




At 31 December 2023

1,415,176


6,253


1,421,429




NET BOOK VALUE


At 31 December 2023

1,415,176


6,253


1,421,429




At 31 December 2022

661,546


6,253


667,799





Cost or valuation at 31 December 2023 is represented by:



Shares in



group


Other



undertakings


investments


Totals

£   

£   

£   



Valuation in 2011

347,527


-


347,527




Cost

1,067,649


6,253


1,073,902



1,415,176


6,253


1,421,429




5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.12.23


31.12.22

£   

£   



Trade debtors

120,253


95,540




Amounts owed by participating interests

709,795


655,273




Other debtors

222,003


191,428




Tax

60,048


60,048




Prepayments

129,081


131,263



1,241,180


1,133,552




Interest has been charged on the directors loans included in other debtors at the rate of 5.00% per annum. The directors loans will be repaid in the forthcoming year.



Turnell and Gigon Ltd (Registered number: 01789896)



Notes to the Financial Statements - continued

for the Year Ended 31 December 2023


6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.12.23


31.12.22

£   

£   



Bank loans and overdrafts

685,846


534,595




Trade creditors

491,681


376,787




Amounts owed to participating interests

669,850


14,198




Corporation tax

(4,968

)

(6,318

)



Social security and other taxes

17,568


14,491




VAT

24,771


4,518




Other creditors

2,855


292,626




Accrued expenses

375,720


30,262



2,263,323


1,261,159




7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN

ONE YEAR



31.12.23


31.12.22

£   

£   



Other loans - 2-5 years

172,461


300,000




8.

CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:


Number:

Class:

Nominal

31.12.23


31.12.22


value:

£   

£   



8,000

Ordinary

£1

8,000


8,000




9.

RESERVES


Retained


Share


Revaluation



earnings


premium


reserve


Totals

£   

£   

£   

£   




At 1 January 2023

(6,775

)

192,731


347,527


533,483




Deficit for the year

(202

)

(202

)



At 31 December 2023

(6,977

)

192,731


347,527


533,281




10.

RELATED PARTY DISCLOSURES



At the balance sheet date the sum of £514,112 (2022 - £492,194 )  was owed to the company by Jean Monro Limited, a subsidiary.


The company was owed £41,183 (2022 £14,518) by Palestrina London Limited, a subsidiary.


The company was owed £154,499 (2022 £148,561) by Christian Lee Limited, a subsidiary.



The company owed the sum of £669,850 (2022 £14,198) to Tim Page Carpets Limited, a subsidiary.



Turnell and Gigon Ltd (Registered number: 01789896)



Notes to the Financial Statements - continued

for the Year Ended 31 December 2023


11.

ULTIMATE CONTROLLING PARTY



The major shareholders are shown in the directors report.  No one person has control.



Turnell and Gigon Ltd



Report of the Accountants to the Directors of

Turnell and Gigon 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 Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.


As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2023 set out on page nil and you consider that the company is exempt from an audit.  


In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.  







PB Associates

Chartered Accountants and Chartered Tax Advisers

2 Castle Business Village

Station Road

Hampton

Middlesex

TW12 2BX



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