Company Registration No. 10985502 (England and Wales)
Turner Heating Ltd
Unaudited accounts
for the year ended 30 September 2024
Turner Heating Ltd
Unaudited accounts
Contents
Turner Heating Ltd
Company Information
for the year ended 30 September 2024
Director
TURNER, Simon Christopher
Company Number
10985502 (England and Wales)
Registered Office
64 Caldecott Chase
Abingdon
OX14 5GZ
England
Accountants
J JENKIN & ASSOCIATES LIMITED
POST OFFICE VAULTS
4 MARKET PLACE
WANTAGE
OXFORDSHIRE
OX12 8AT
Turner Heating Ltd
Statement of financial position
as at 30 September 2024
Tangible assets
7,246
7,902
Cash at bank and in hand
5,347
10,491
Creditors: amounts falling due within one year
(13,208)
(13,970)
Net current assets
2,624
3,424
Total assets less current liabilities
9,870
11,326
Creditors: amounts falling due after more than one year
(1,828)
(4,831)
Called up share capital
100
100
Profit and loss account
7,942
6,395
Shareholders' funds
8,042
6,495
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 October 2024 and were signed on its behalf by
TURNER, Simon Christopher
Director
Company Registration No. 10985502
Turner Heating Ltd
Notes to the Accounts
for the year ended 30 September 2024
Turner Heating Ltd is a private company, limited by shares, registered in England and Wales, registration number 10985502. The registered office is 64 Caldecott Chase, Abingdon, OX14 5GZ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Motor vehicles
25% Reducing Balance
Computer equipment
25% Straight Line
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services 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.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Turner Heating Ltd
Notes to the Accounts
for the year ended 30 September 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 October 2023
400
19,775
578
20,753
At 30 September 2024
400
19,775
1,897
22,072
At 1 October 2023
302
11,971
578
12,851
Charge for the year
24
1,951
-
1,975
At 30 September 2024
326
13,922
578
14,826
At 30 September 2024
74
5,853
1,319
7,246
At 30 September 2023
98
7,804
-
7,902
Amounts falling due within one year
Accrued income and prepayments
562
489
6
Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
2,773
2,300
Taxes and social security
6,452
6,997
Loans from directors
99
36
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
1,828
4,831
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).