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REGISTERED NUMBER: 13368968 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

7 Turnberry Quay Ltd

7 Turnberry Quay Ltd (Registered number: 13368968)






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


7 Turnberry Quay Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: H Chen





REGISTERED OFFICE: 85 Great Portland Street
London
W1W 7LT





REGISTERED NUMBER: 13368968 (England and Wales)





ACCOUNTANT: 7 Turnberry Quay Ltd
85 Great Portland Street, London, Englan
London
WC2A 2JR

7 Turnberry Quay Ltd (Registered number: 13368968)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,332 -

CURRENT ASSETS
Stocks 10,769 33,449
Debtors 5 211,539 29,446
Cash at bank 5,011 24,495
227,319 87,390
CREDITORS
Amounts falling due within one year 6 299,818 168,658
NET CURRENT LIABILITIES (72,499 ) (81,268 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(71,167

)

(81,268

)

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (71,168 ) (81,269 )
(71,167 ) (81,268 )

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 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.

7 Turnberry Quay Ltd (Registered number: 13368968)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 November 2024 and were signed by:





H Chen - Director


7 Turnberry Quay Ltd (Registered number: 13368968)

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

1. STATUTORY INFORMATION

7 Turnberry Quay Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The financial statements have been prepared on the going concern basis, the director considers this to be suitable based on the Company's current trading levels, future prospects and the continued financial support given by the shareholder, which is located in a geographic region that is past the peak of the pandemic and is now operating at close to full capacity and is financially robust following the pandemic.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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

7 Turnberry Quay Ltd (Registered number: 13368968)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Classification of financial liabilities
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.

Basic financial liabilities
Basic financial liabilities, including trade and other payables, and loans from group undertakings, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest method.

Share capital
Financial instruments issued by the company are classified as equity only to the extent that they do not meet the definition of a financial liability or financial asset.

The company's ordinary shares are classified as equity instruments.


7 Turnberry Quay Ltd (Registered number: 13368968)

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

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred trecognized recognised in the Income Statement, except to the extenrecognizedrelates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognized 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 recognized 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 recognized 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 recognized 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.

Leasing commitments - the company as a lessee
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 3 (2023 - 3 ) .

7 Turnberry Quay Ltd (Registered number: 13368968)

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

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2023 1,041
Additions 2,081
At 31 March 2024 3,122
DEPRECIATION
At 1 April 2023 1,041
Charge for year 749
At 31 March 2024 1,790
NET BOOK VALUE
At 31 March 2024 1,332
At 31 March 2023 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 199,430 17,517
Other debtors 1 -
VAT 12,108 11,929
211,539 29,446

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 283,943 164,397
Tax 2,313 -
Social security and other taxes 3,383 -
Other creditors 10,179 4,261
299,818 168,658

7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is H Chen.