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REGISTERED NUMBER: SC652697 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Turner Retail Ltd

Turner Retail Ltd (Registered number: SC652697)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Turner Retail Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTOR: M Arshad





REGISTERED OFFICE: Unit 3
37 Rosyth Road
Morris Park
Glasgow
G 0YE





REGISTERED NUMBER: SC652697 (Scotland)





ACCOUNTANTS: KPP Glasgow South Ltd
Chartered Certified Accountants
Unit 3 , 37 Rosyth Road
Morris Park
Glasgow
G5 0YE

Turner Retail Ltd (Registered number: SC652697)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 12,000 24,000
Tangible assets 5 140,263 57,480
152,263 81,480

CURRENT ASSETS
Stocks 6 48,177 58,030
Debtors 7 - 859
Cash at bank 109,305 102,896
157,482 161,785
CREDITORS
Amounts falling due within one year 8 53,704 67,839
NET CURRENT ASSETS 103,778 93,946
TOTAL ASSETS LESS CURRENT
LIABILITIES

256,041

175,426

CREDITORS
Amounts falling due after more than one
year

9

-

(7,470

)

PROVISIONS FOR LIABILITIES (32,260 ) (10,919 )
NET ASSETS 223,781 157,037

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 223,681 156,937
SHAREHOLDERS' FUNDS 223,781 157,037

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Retail Ltd (Registered number: SC652697)

Balance Sheet - continued
31 January 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 director and authorised for issue on 26 April 2024 and were signed by:





M Arshad - Director


Turner Retail Ltd (Registered number: SC652697)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Turner Retail 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of five years.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 17 ) .

Turner Retail Ltd (Registered number: SC652697)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 60,000
AMORTISATION
At 1 February 2023 36,000
Charge for year 12,000
At 31 January 2024 48,000
NET BOOK VALUE
At 31 January 2024 12,000
At 31 January 2023 24,000

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 3,324 77,302 4,350 6,229 91,205
Additions - - 108,470 10,378 118,848
At 31 January 2024 3,324 77,302 112,820 16,607 210,053
DEPRECIATION
At 1 February 2023 990 28,339 1,088 3,308 33,725
Charge for year 350 7,344 27,933 438 36,065
At 31 January 2024 1,340 35,683 29,021 3,746 69,790
NET BOOK VALUE
At 31 January 2024 1,984 41,619 83,799 12,861 140,263
At 31 January 2023 2,334 48,963 3,262 2,921 57,480

6. STOCKS
31.1.24 31.1.23
£    £   
Stocks 48,177 58,030

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
VAT - 859

Turner Retail Ltd (Registered number: SC652697)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 35,579 37,495
Tax 4,966 16,807
Social security and other taxes 2,712 4,432
VAT 2,236 -
Accrued expenses 8,211 9,105
53,704 67,839

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Other loans (see note 10) - 7,470

10. LOANS

An analysis of the maturity of loans is given below:

31.1.24 31.1.23
£    £   
Amounts falling due between one and two years:
Other loans - 1-2 years - 7,470

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
100 Ordinary £1 100 100