Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-282024-02-2841100 - Development of building projects,41201 - Construction of commercial buildings,41202 - Construction of domestic buildings2023-03-013false3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04905829 2023-03-01 2024-02-28 04905829 2022-03-01 2023-02-28 04905829 2024-02-28 04905829 2023-02-28 04905829 2022-03-01 04905829 c:Director1 2023-03-01 2024-02-28 04905829 d:PlantMachinery 2023-03-01 2024-02-28 04905829 d:PlantMachinery 2024-02-28 04905829 d:PlantMachinery 2023-02-28 04905829 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-28 04905829 d:MotorVehicles 2023-03-01 2024-02-28 04905829 d:MotorVehicles 2024-02-28 04905829 d:MotorVehicles 2023-02-28 04905829 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-03-01 2024-02-28 04905829 d:ComputerEquipment 2023-03-01 2024-02-28 04905829 d:ComputerEquipment 2024-02-28 04905829 d:ComputerEquipment 2023-02-28 04905829 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-28 04905829 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-28 04905829 d:CurrentFinancialInstruments 2024-02-28 04905829 d:CurrentFinancialInstruments 2023-02-28 04905829 d:Non-currentFinancialInstruments 2024-02-28 04905829 d:Non-currentFinancialInstruments 2023-02-28 04905829 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-28 04905829 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 04905829 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-28 04905829 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 04905829 d:ShareCapital 2024-02-28 04905829 d:ShareCapital 2023-02-28 04905829 d:RetainedEarningsAccumulatedLosses 2024-02-28 04905829 d:RetainedEarningsAccumulatedLosses 2023-02-28 04905829 c:OrdinaryShareClass1 2023-03-01 2024-02-28 04905829 c:OrdinaryShareClass1 2024-02-28 04905829 c:OrdinaryShareClass1 2023-02-28 04905829 c:FRS102 2023-03-01 2024-02-28 04905829 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 04905829 c:FullAccounts 2023-03-01 2024-02-28 04905829 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 04905829 d:HirePurchaseContracts d:WithinOneYear 2024-02-28 04905829 d:HirePurchaseContracts d:WithinOneYear 2023-02-28 04905829 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-02-28 04905829 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-02-28 04905829 d:AcceleratedTaxDepreciationDeferredTax 2024-02-28 04905829 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 04905829 d:OtherDeferredTax 2024-02-28 04905829 d:OtherDeferredTax 2023-02-28 04905829 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-02-28 04905829 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-02-28 04905829 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-02-28 04905829 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-02-28 04905829 d:LeasedAssetsHeldAsLessee 2024-02-28 04905829 d:LeasedAssetsHeldAsLessee 2023-02-28 04905829 e:PoundSterling 2023-03-01 2024-02-28 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04905829










TURNER AND SUMMERSBEE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2024

 
TURNER AND SUMMERSBEE LIMITED
REGISTERED NUMBER: 04905829

BALANCE SHEET
AS AT 28 FEBRUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
92,182
118,322

  
92,182
118,322

Current assets
  

Stocks
 5 
14,547
40,504

Debtors: amounts falling due within one year
 6 
377,339
225,114

Cash at bank and in hand
 7 
372,929
339,408

  
764,815
605,026

Creditors: amounts falling due within one year
 8 
(288,524)
(201,188)

Net current assets
  
 
 
476,291
 
 
403,838

Total assets less current liabilities
  
568,473
522,160

Current liabilities
  

Creditors: amounts falling due after more than one year
 9 
(69,092)
(78,075)

Provisions for liabilities
  

Deferred tax
 11 
(22,936)
(29,526)

  
 
 
(22,936)
 
 
(29,526)

Net assets
  
476,445
414,559


Capital and reserves
  

Called up share capital 
 12 
100
100

Profit and loss account
  
476,345
414,459

  
476,445
414,559


Page 1

 
TURNER AND SUMMERSBEE LIMITED
REGISTERED NUMBER: 04905829

BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
D Turner
Director

Date: 19 November 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
TURNER AND SUMMERSBEE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

1.


General information

Turner and Summersbee Limited is a private company, limited by share capital and incorporated in England and Wales. 
The Company's registered office is 2 Chawley Park, Cumnor Hill, Oxford, Oxfordshire, OX2 9GG.
The Company's principal activity is general construction and civil engineering.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.

  
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
TURNER AND SUMMERSBEE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
TURNER AND SUMMERSBEE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant & machinery
-
20%
Motor vehicles
-
20%
Computer equipment
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
TURNER AND SUMMERSBEE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

2.Accounting policies (continued)

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

  
2.13

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.14

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 6

 
TURNER AND SUMMERSBEE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

4.


Tangible fixed assets





Plant & machinery
Motor vehicles
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 March 2023
34,375
116,353
4,968
155,696


Additions
-
-
2,166
2,166



At 28 February 2024

34,375
116,353
7,134
157,862



Depreciation


At 1 March 2023
29,899
3,878
3,597
37,374


Charge for the year on owned assets
4,476
23,271
559
28,306



At 28 February 2024

34,375
27,149
4,156
65,680



Net book value



At 28 February 2024
-
89,204
2,978
92,182



At 28 February 2023
4,476
112,475
1,371
118,322

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£


Plant and machinery
-
4,477

Motor vehicles
89,204
11,681

89,204
16,158


5.


Stocks

2024
2023
£
£

Raw materials and consumables
14,547
40,504


Page 7

 
TURNER AND SUMMERSBEE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

6.


Debtors

2024
2023
£
£

Trade debtors
210,260
75,584

Other debtors
35,918
30,247

Prepayments and accrued income
100,797
60,848

Amounts recoverable on long term contracts
30,364
58,435

377,339
225,114



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
372,929
339,408



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
183,125
93,639

Corporation tax
41,002
9,290

Other taxation and social security
6,492
6,851

Obligations under finance lease and hire purchase contracts
8,984
15,061

Other creditors
1,175
587

Accruals and deferred income
47,746
75,760

288,524
201,188



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
69,092
78,075


Page 8

 
TURNER AND SUMMERSBEE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
14,897
20,304

Between 1-5 years
63,675
2,964

78,572
23,268


11.


Deferred taxation




2024
2023


£

£



At beginning of year
(29,526)
(6,813)


Charged to profit or loss
6,590
(22,713)



At end of year
(22,936)
(29,526)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(23,046)
(29,581)

Short term timing differences
110
55

(22,936)
(29,526)


12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1 each
100
100



13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,642 (2023: £2,635). Contributions totalling £1,175 (2023: £587) were payable to the fund at the balance sheet date and are included in creditors.

Page 9

 
TURNER AND SUMMERSBEE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

14.


Related party transactions

During the year dividends of £48,000 were paid to the directors (2023: £28,000). At the year end the directors were owed £650 by the Company (2023: £10,964 owed to the company).


15.


Controlling party

The Company is controlled by its directors.


Page 10