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REGISTERED NUMBER: NI016311 (Northern Ireland)















TURNBULL DEVELOPMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024






TURNBULL DEVELOPMENTS LIMITED (REGISTERED NUMBER: NI016311)

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


TURNBULL DEVELOPMENTS LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTOR: Mrs R T Scott





SECRETARY: Mrs R T Scott





REGISTERED OFFICE: 6 Seapark Mews
HOLYWOOD
BT18 0HZ





REGISTERED NUMBER: NI016311 (Northern Ireland)





ACCOUNTANTS: Jones
Chartered Accountants
4 Comber Street
Saintfield
BALLYNAHINCH
BT24 7AZ

TURNBULL DEVELOPMENTS LIMITED (REGISTERED NUMBER: NI016311)

BALANCE SHEET
31 March 2024

2024 2023
Notes £ £
FIXED ASSETS
Investment property 4 100,000 100,000

CURRENT ASSETS
Debtors 5 349 3,572
Cash at bank 15,571 13,173
15,920 16,745
CREDITORS
Amounts falling due within one year 6 (5,726 ) (11,251 )
NET CURRENT ASSETS 10,194 5,494
TOTAL ASSETS LESS CURRENT
LIABILITIES

110,194

105,494

CAPITAL AND RESERVES
Called up share capital 7 4 4
Revaluation reserve (110,470 ) (110,470 )
Retained earnings 220,660 215,960
SHAREHOLDERS' FUNDS 110,194 105,494

TURNBULL DEVELOPMENTS LIMITED (REGISTERED NUMBER: NI016311)

BALANCE SHEET - continued
31 March 2024


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 director acknowledges her 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 November 2024 and were signed by:





Mrs R T Scott - Director


TURNBULL DEVELOPMENTS LIMITED (REGISTERED NUMBER: NI016311)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024


1. STATUTORY INFORMATION

Turnbull Developments Limited is a private company, limited by shares , registered in Northern Ireland. 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 as modified by the revaluation of certain assets.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

TURNBULL DEVELOPMENTS LIMITED (REGISTERED NUMBER: NI016311)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


2. ACCOUNTING POLICIES - continued

Basic financial instruments
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other operating expenses.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 April 2023
and 31 March 2024 100,000
NET BOOK VALUE
At 31 March 2024 100,000
At 31 March 2023 100,000

If the investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   

Cost 210,470 210,470

The investment property was revalued on an open market basis in April 2021 by Tim Martin Estate Agents and Valuers. The director believes there is no material change in this valuation at the balance sheet date.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors - 3,250
Other debtors 349 322
349 3,572

TURNBULL DEVELOPMENTS LIMITED (REGISTERED NUMBER: NI016311)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 175 -
Taxation and social security 1,102 1,920
Other creditors 4,449 9,331
5,726 11,251

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
4 Ordinary £1 4 4

8. CAPITAL COMMITMENTS
2024 2023
£ £
Contracted but not provided for in the
financial statements - -

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

An amount of £3,144 is owed to the director at the year end (2023 - £8,144). No interest is payable and the balance is repayable on demand. The amount owed is included within other creditors.