Registered number
01437362
Turgis, Taylor, Armstrong Limited
Filleted Accounts
1 January 2024
Turgis, Taylor, Armstrong Limited
Registered number: 01437362
Balance Sheet
as at 1 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,061,594 2,061,594
Investments 4 28,142 28,142
2,089,736 2,089,736
Current assets
Debtors 5 20,775 20,775
Cash at bank and in hand 588,684 358,798
609,459 379,573
Creditors: amounts falling due within one year 6 (282,724) (221,555)
Net current assets 326,735 158,018
Net assets 2,416,471 2,247,754
Capital and reserves
Called up share capital 120,004 120,004
Share premium 20,996 20,996
Revaluation reserve 7 58,333 58,333
Profit and loss account 2,217,138 2,048,421
Shareholders' funds 2,416,471 2,247,754
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J White
Director
Approved by the board on 10 August 2024
Turgis, Taylor, Armstrong Limited
Notes to the Accounts
for the year ended 1 January 2024
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings
Plant and machinery over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 2 January 2023 2,061,394 24,538 2,085,932
At 1 January 2024 2,061,394 24,538 2,085,932
Depreciation
At 2 January 2023 - 24,338 24,338
At 1 January 2024 - 24,338 24,338
Net book value
At 1 January 2024 2,061,394 200 2,061,594
At 1 January 2023 2,061,394 200 2,061,594
4 Investments
Other
investments
£
Cost
At 2 January 2023 28,142
At 1 January 2024 28,142
5 Debtors 2024 2023
£ £
Other debtors 20,775 20,775
6 Creditors: amounts falling due within one year 2024 2023
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest - -
Taxation and social security costs 113,575 52,406
Other creditors 169,149 169,149
282,724 221,555
7 Revaluation reserve 2024 2023
£ £
At 2 January 2023 58,333 58,333
At 1 January 2024 58,333 58,333
8 Other information
Turgis, Taylor, Armstrong Limited is a private company limited by shares and incorporated in England. Its registered office is:
15 Boltons Lane
Binfield
Bracknell
Berkshire
RG42 4UA
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