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REGISTERED NUMBER: 05202133 (England and Wales)






















Turner Timber Frames Limited

Unaudited Financial Statements for the Year Ended 29 February 2024






Turner Timber Frames Limited (Registered number: 05202133)






Contents of the Financial Statements
for the year ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Turner Timber Frames Limited

Company Information
for the year ended 29 February 2024







DIRECTORS: H Turner
M Turner
S Turner





SECRETARY: S Turner





REGISTERED OFFICE: Farslea
Starrcarr Lane
Brandesburton
East Yorkshire
YO25 8RT





REGISTERED NUMBER: 05202133 (England and Wales)





ACCOUNTANTS: Smailes Goldie
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

Turner Timber Frames Limited (Registered number: 05202133)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 187,180 92,024

CURRENT ASSETS
Stocks 265,708 268,863
Debtors 5 702,576 610,523
Cash at bank 370,678 165,681
1,338,962 1,045,067
CREDITORS
Amounts falling due within one year 6 1,211,534 801,930
NET CURRENT ASSETS 127,428 243,137
TOTAL ASSETS LESS CURRENT
LIABILITIES

314,608

335,161

PROVISIONS FOR LIABILITIES 46,795 23,005
NET ASSETS 267,813 312,156

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 267,713 312,056
SHAREHOLDERS' FUNDS 267,813 312,156

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

Turner Timber Frames Limited (Registered number: 05202133)

Balance Sheet - continued
29 February 2024


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 2 October 2024 and were signed on its behalf by:





M Turner - Director


Turner Timber Frames Limited (Registered number: 05202133)

Notes to the Financial Statements
for the year ended 29 February 2024

1. STATUTORY INFORMATION

Turner Timber Frames Limited is a private company, limited by shares , registered in England and Wales. 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 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.
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

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.

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.

Turner Timber Frames Limited (Registered number: 05202133)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 17 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 444,971
Additions 115,153
At 29 February 2024 560,124
DEPRECIATION
At 1 March 2023 352,947
Charge for year 19,997
At 29 February 2024 372,944
NET BOOK VALUE
At 29 February 2024 187,180
At 28 February 2023 92,024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 308,702 309,878
Amounts owed by group undertakings 265,303 245,592
VAT 100,574 29,481
Prepayments 27,997 25,572
702,576 610,523

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 250,403 15,583
Amounts owed to group undertakings 116,661 -
Tax 238,174 210,674
Social security and other taxes 5,721 3,968
Deferred income 596,732 569,855
Accrued expenses 3,843 1,850
1,211,534 801,930

Turner Timber Frames Limited (Registered number: 05202133)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

8. TRANSACTIONS WITH RELATED PARTIES

During the year the company bought and sold services with its associated companies, who have common directorships, as follows:

Rents charged £48,000 (2023: £48,000)
Bought services and materials £377,031 (2023: £332,844)
Sold goods and services £0 (2023: £6,341)
Dividends in the year £950,000 (2023: £625,000)

9. ULTIMATE PARENT COMPANY

The ultimate parent company is Farslea Holdings Limited.