Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Christian Michael Rowell 20/03/2018 Dominic John Rowell 19/10/2007 Jack Rowell 01/07/2024 28/11/1995 18 October 2024 The principal activity of the company during the year was that of the provision of management and marketing services. 03131435 2024-03-31 03131435 bus:Director1 2024-03-31 03131435 bus:Director2 2024-03-31 03131435 bus:Director3 2024-03-31 03131435 2023-03-31 03131435 core:CurrentFinancialInstruments 2024-03-31 03131435 core:CurrentFinancialInstruments 2023-03-31 03131435 core:ShareCapital 2024-03-31 03131435 core:ShareCapital 2023-03-31 03131435 core:SharePremium 2024-03-31 03131435 core:SharePremium 2023-03-31 03131435 core:RetainedEarningsAccumulatedLosses 2024-03-31 03131435 core:RetainedEarningsAccumulatedLosses 2023-03-31 03131435 core:PlantMachinery 2023-03-31 03131435 core:PlantMachinery 2024-03-31 03131435 core:CostValuation 2023-03-31 03131435 core:AdditionsToInvestments 2024-03-31 03131435 core:CostValuation 2024-03-31 03131435 bus:OrdinaryShareClass1 2024-03-31 03131435 2023-04-01 2024-03-31 03131435 bus:FilletedAccounts 2023-04-01 2024-03-31 03131435 bus:SmallEntities 2023-04-01 2024-03-31 03131435 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 03131435 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03131435 bus:Director1 2023-04-01 2024-03-31 03131435 bus:Director2 2023-04-01 2024-03-31 03131435 bus:Director3 2023-04-01 2024-03-31 03131435 core:PlantMachinery core:BottomRangeValue 2023-04-01 2024-03-31 03131435 core:PlantMachinery core:TopRangeValue 2023-04-01 2024-03-31 03131435 2022-04-01 2023-03-31 03131435 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 03131435 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 03131435 (England and Wales)

TURLEIGH LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

TURLEIGH LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

TURLEIGH LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
TURLEIGH LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Investments 4, 8 1,224,000 1,161,000
1,224,000 1,161,000
Current assets
Cash at bank and in hand 290,191 258,799
290,191 258,799
Creditors: amounts falling due within one year 5 ( 111,678) ( 117,418)
Net current assets 178,513 141,381
Total assets less current liabilities 1,402,513 1,302,381
Net assets 1,402,513 1,302,381
Capital and reserves
Called-up share capital 6 2 2
Share premium account 23,998 0
Profit and loss account 1,378,513 1,302,379
Total shareholders' funds 1,402,513 1,302,381

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Turleigh Limited (registered number: 03131435) were approved and authorised for issue by the Board of Directors on 18 October 2024. They were signed on its behalf by:

Dominic John Rowell
Director
TURLEIGH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
TURLEIGH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Turleigh Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Llp, 10 Temple Back, Bristol, BS1 6FL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery 6 - 7 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 4

3. Tangible assets

Plant and machinery Total
£ £
Cost
At 01 April 2023 17,106 17,106
At 31 March 2024 17,106 17,106
Accumulated depreciation
At 01 April 2023 17,106 17,106
At 31 March 2024 17,106 17,106
Net book value
At 31 March 2024 0 0
At 31 March 2023 0 0

4. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 April 2023 1,161,000 1,161,000
Additions 63,000 63,000
At 31 March 2024 1,224,000 1,224,000
Carrying value at 31 March 2024 1,224,000 1,224,000
Carrying value at 31 March 2023 1,161,000 1,161,000

5. Creditors: amounts falling due within one year

2024 2023
£ £
Accruals 2,542 2,040
Taxation and social security 22,617 10,350
Other creditors 86,519 105,028
111,678 117,418

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2,240 Ordinary shares of £ 0.001 each (2023: 2 shares of £ 1.00 each) 2 2

During the year the 2 Ordinary shares of £1.00 each in the issued share capital of the Company were subdivided into 2000 Ordinary shares of £0.001 each. Following the sub-division, there was a further allotment of 240 Ordinary shares of £0.001.

7. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Owed by/(to) the directors (86,519) (105,028)

The amount is repayable on demand and no interest is charged on the balance.

8. Investment Property

Valuation

2024 2023
£ £
Investment property - Cost 0 0

Valuation & Assumptions

The 2024 valuations were made by the directors, on an open market value for existing use basis. This valuation was arrived at taking account of information and advice from external property consultants, in-house property experts, publicly available data and judgement of the ongoing war in Ukraine where the property is held.

A significant level of uncertainty exists in relation to these assumptions and any changes in these assumptions could have a material impact on the carrying value of Investment Property in the financial statements.