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REGISTERED NUMBER: 12014390 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

R J TURNER LIMITED

R J TURNER LIMITED (REGISTERED NUMBER: 12014390)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


R J TURNER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: R J Turner
Miss C M Thomas
R T Turner





REGISTERED OFFICE: Gibson House
Hurricane Court
Hurricane Close
Stafford
ST16 1GZ





REGISTERED NUMBER: 12014390 (England and Wales)





ACCOUNTANTS: Deans
Chartered Accountants
Gibson House
Hurricane Court
Hurricane Close
Stafford
ST16 1GZ

R J TURNER LIMITED (REGISTERED NUMBER: 12014390)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 279,038 298,403

CURRENT ASSETS
Stocks 151,230 152,722
Debtors 5 75,867 179,591
227,097 332,313
CREDITORS
Amounts falling due within one year 6 (217,335 ) (322,850 )
NET CURRENT ASSETS 9,762 9,463
TOTAL ASSETS LESS CURRENT LIABILITIES 288,800 307,866

CREDITORS
Amounts falling due after more than one year 7 (236,151 ) (171,088 )

PROVISIONS FOR LIABILITIES (39,518 ) -
NET ASSETS 13,131 136,778

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 13,031 136,678
SHAREHOLDERS' FUNDS 13,131 136,778

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

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

R J TURNER LIMITED (REGISTERED NUMBER: 12014390)

BALANCE SHEET - continued
31 MARCH 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 October 2024 and were signed on its behalf by:




R J Turner - Director R T Turner - Director




Miss C M Thomas - Director


R J TURNER LIMITED (REGISTERED NUMBER: 12014390)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

R J Turner 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition if turnover are as follows:

Sale of goods
Turnover from the sale of crops and livestock is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably , it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on despatch of the goods.

Contract income
Turnover from contracting 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Rent
Rental income is recognised using the accrual model.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

R J TURNER LIMITED (REGISTERED NUMBER: 12014390)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance and 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance and 15% on reducing balance
Office equipment - 20% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued in accordance with Business Economic Note 19 issued by the Inland Revenue, at the lower of cost and net realisable value using other accepted conventions to arrive at deemed cost where actual costs are not accurately ascertainable, after making allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

R J TURNER LIMITED (REGISTERED NUMBER: 12014390)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable with one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2023 58,444 116,573 713
Additions 18,789 2,550 -
At 31 March 2024 77,233 119,123 713
DEPRECIATION
At 1 April 2023 2,471 44,953 282
Charge for year 3,140 11,128 65
At 31 March 2024 5,611 56,081 347
NET BOOK VALUE
At 31 March 2024 71,622 63,042 366
At 31 March 2023 55,973 71,620 431

R J TURNER LIMITED (REGISTERED NUMBER: 12014390)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS - continued

Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 201,237 2,773 379,740
Additions - - 21,339
At 31 March 2024 201,237 2,773 401,079
DEPRECIATION
At 1 April 2023 32,609 1,022 81,337
Charge for year 26,021 350 40,704
At 31 March 2024 58,630 1,372 122,041
NET BOOK VALUE
At 31 March 2024 142,607 1,401 279,038
At 31 March 2023 168,628 1,751 298,403

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023
and 31 March 2024 185,250
DEPRECIATION
At 1 April 2023 27,788
Charge for year 23,619
At 31 March 2024 51,407
NET BOOK VALUE
At 31 March 2024 133,843
At 31 March 2023 157,462

R J TURNER LIMITED (REGISTERED NUMBER: 12014390)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 9,419 1,893
Other debtors 331 -
Directors' loan accounts 59,601 122,426
Tax - 40,140
VAT 4,638 13,386
Prepayments 1,878 1,746
75,867 179,591

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 101,198 134,856
Hire purchase contracts 14,030 14,120
Trade creditors 89,275 107,736
Tax 9,154 24,096
Accruals and deferred income 3,678 42,042
217,335 322,850

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 20,000 20,000
Bank loans - 2-5 years 32,503 42,503
Blank loans due 5+ years 141,548 52,455
Hire purchase contracts 42,100 56,130
236,151 171,088

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 81,198 115,442
Bank loans 214,051 134,372
295,249 249,814

R J TURNER LIMITED (REGISTERED NUMBER: 12014390)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
R T Turner and Miss C M Thomas
Balance outstanding at start of year 122,426 -
Amounts advanced 137,777 285,034
Amounts repaid (200,602 ) (162,608 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 59,601 122,426

The directors loan is repayable on demand.