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COMPANY REGISTRATION NUMBER: 12377708
Turner Surfacing Limited
Filleted Unaudited Financial Statements
31 December 2023
Turner Surfacing Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
29,506
7,943
Current assets
Stocks
52,887
Debtors
6
21,101
10,668
Cash at bank and in hand
6,762
10,186
--------
--------
80,750
20,854
Creditors: amounts falling due within one year
7
52,572
14,802
--------
--------
Net current assets
28,178
6,052
--------
--------
Total assets less current liabilities
57,684
13,995
Creditors: amounts falling due after more than one year
8
37,274
12,605
--------
--------
Net assets
20,410
1,390
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
20,409
1,389
--------
-------
Shareholders funds
20,410
1,390
--------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Turner Surfacing Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 23 September 2024 , and are signed on behalf of the board by:
Mr A. Turner
Director
Company registration number: 12377708
Turner Surfacing Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 24a Crown Street, Brentwood, CM14 4JZ, Essex.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% reducing balance
Motor vehicles
-
20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 January 2023
3,532
9,995
13,527
Additions
14,857
43,742
58,599
Disposals
( 34,537)
( 34,537)
--------
--------
--------
At 31 December 2023
18,389
19,200
37,589
--------
--------
--------
Depreciation
At 1 January 2023
706
4,878
5,584
Charge for the year
3,537
8,748
12,285
Disposals
( 9,786)
( 9,786)
--------
--------
--------
At 31 December 2023
4,243
3,840
8,083
--------
--------
--------
Carrying amount
At 31 December 2023
14,146
15,360
29,506
--------
--------
--------
At 31 December 2022
2,826
5,117
7,943
--------
--------
--------
6. Debtors
2023
2022
£
£
Trade debtors
9,060
8,290
Other debtors
12,041
2,378
--------
--------
21,101
10,668
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,096
2,690
Corporation tax
34,367
9,746
Social security and other taxes
3,708
812
Other creditors
13,401
1,554
--------
--------
52,572
14,802
--------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
9,451
12,605
Other creditors
27,823
--------
--------
37,274
12,605
--------
--------