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REGISTERED NUMBER: SC294760 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Turnbull Services Ltd.

Turnbull Services Ltd. (Registered number: SC294760)






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


Turnbull Services Ltd.

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr D J Turnbull
Mrs S R Turnbull





SECRETARY: Mrs S R Turnbull





REGISTERED OFFICE: Keepers Cottage
Troup
Gamrie
Banff
Aberdeenshire
AB45 3JN





REGISTERED NUMBER: SC294760 (Scotland)





ACCOUNTANTS: SBP
Accountants
2 Cross Street
Fraserburgh
Aberdeenshire
AB43 9EQ

Turnbull Services Ltd. (Registered number: SC294760)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,451 10,416

CURRENT ASSETS
Stocks 19,515 32,258
Debtors 5 89,666 59,044
Cash at bank 14,365 8,538
123,546 99,840
CREDITORS
Amounts falling due within one year 6 92,866 68,165
NET CURRENT ASSETS 30,680 31,675
TOTAL ASSETS LESS CURRENT
LIABILITIES

39,131

42,091

CREDITORS
Amounts falling due after more than one year 7 (36,998 ) (40,000 )

PROVISIONS FOR LIABILITIES (1,999 ) (1,979 )
NET ASSETS 134 112

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 132 110
SHAREHOLDERS' FUNDS 134 112

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.

Turnbull Services Ltd. (Registered number: SC294760)

Balance Sheet - continued
31 December 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:





Mr D J Turnbull - Director


Turnbull Services Ltd. (Registered number: SC294760)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Turnbull Services Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. 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.

Turnover
Turnover represents the amounts (excluding value added tax) derived from the provision of services to customers. Revenue is recognised at the point services are provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Amounts recoverable on contracts
Wok in progress is recognised to the extent that it is probable that economic benefit will flow to the company and when its value can be measured with a sufficient degree of certainty and reliability based on uninvoiced work carried out as at the financial year end.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Turnbull Services Ltd. (Registered number: SC294760)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 29,886 14,250 715 44,851
Additions - - 676 676
At 31 December 2023 29,886 14,250 1,391 45,527
DEPRECIATION
At 1 January 2023 23,206 10,514 715 34,435
Charge for year 1,670 748 223 2,641
At 31 December 2023 24,876 11,262 938 37,076
NET BOOK VALUE
At 31 December 2023 5,010 2,988 453 8,451
At 31 December 2022 6,680 3,736 - 10,416

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 5,620 -
Other debtors 21,031 14,722
Directors' current accounts 63,015 44,322
89,666 59,044

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 14,724 14,565
Trade creditors 8,583 23,610
Tax 59,568 26,958
Social security and other taxes - 7
VAT 6,237 1,115
Accrued expenses 3,754 1,910
92,866 68,165

Turnbull Services Ltd. (Registered number: SC294760)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 26,998 30,000
36,998 40,000

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
Mr D J Turnbull
Balance outstanding at start of year 44,322 18,955
Amounts advanced 25,918 25,844
Amounts repaid (405 ) (477 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 69,835 44,322

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the directors by virtue of them each holding 50% of the issued share capital of the company.