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REGISTERED NUMBER: 05047591 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

TURNEY & ASSOCIATES LIMITED

TURNEY & ASSOCIATES LIMITED (REGISTERED NUMBER: 05047591)






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


TURNEY & ASSOCIATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: M P Turney





SECRETARY: S E Turney





REGISTERED OFFICE: 115c Milton Road
Cambridge
Cambridgeshire
CB4 1XE





REGISTERED NUMBER: 05047591 (England and Wales)





ACCOUNTANTS: Prentis & Co LLP
Chartered Accountants
115c Milton Road
Cambridge
CB4 1XE

TURNEY & ASSOCIATES LIMITED (REGISTERED NUMBER: 05047591)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,652 4,428
3,652 4,428

CURRENT ASSETS
Debtors 6 332,004 93,920
Cash at bank and in hand 794,761 714,001
1,126,765 807,921
CREDITORS
Amounts falling due within one year 7 122,681 41,573
NET CURRENT ASSETS 1,004,084 766,348
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,007,736

770,776

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 997,736 760,776
SHAREHOLDERS' FUNDS 1,007,736 770,776

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.

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 Profit and Loss Account has not been delivered.

TURNEY & ASSOCIATES LIMITED (REGISTERED NUMBER: 05047591)

BALANCE SHEET - continued
31 MARCH 2024



The financial statements were approved by the director and authorised for issue on 21 November 2024 and were signed by:





M P Turney - Director


TURNEY & ASSOCIATES LIMITED (REGISTERED NUMBER: 05047591)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Turney & Associates Limited 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.

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 2004, has now been fully amortised.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - 10% on cost
Fixtures, fittings & equipment - 25% on cost

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.

Hire purchase and leasing commitments
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 7 (2023 - 7 ) .

TURNEY & ASSOCIATES LIMITED (REGISTERED NUMBER: 05047591)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 20,000
AMORTISATION
At 1 April 2023
and 31 March 2024 20,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures,
Leasehold fittings
improvements & equipment Totals
£    £    £   
COST
At 1 April 2023 27,880 104,717 132,597
Additions - 2,638 2,638
At 31 March 2024 27,880 107,355 135,235
DEPRECIATION
At 1 April 2023 27,880 100,289 128,169
Charge for year - 3,414 3,414
At 31 March 2024 27,880 103,703 131,583
NET BOOK VALUE
At 31 March 2024 - 3,652 3,652
At 31 March 2023 - 4,428 4,428

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 332,004 43,700
Director's current account - 50,220
332,004 93,920

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 113,347 36,573
Other creditors 4,334 -
Accruals and deferred income 5,000 5,000
122,681 41,573

TURNEY & ASSOCIATES LIMITED (REGISTERED NUMBER: 05047591)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year rent totalling £29,252 (2023 - £26,230) was paid to MP Turney who is the director of the company.

9. ULTIMATE CONTROLLING PARTY

The controlling party is MP Turney by virtue of his 60% ownership of the issued ordinary share capital.