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REGISTERED NUMBER: 11187880 (England and Wales)















Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Turner & Hares Limited

Turner & Hares Limited (Registered number: 11187880)

Contents of the Financial Statements
for the Year Ended 29 February 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Turner & Hares Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Miss C E Powney
Miss D E Terndrup



REGISTERED OFFICE: 25 Castle Street
Cirencester
Gloucestershire
GL7 1QD



REGISTERED NUMBER: 11187880 (England and Wales)



ACCOUNTANTS: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
Gloucestershire
GL3 3RS



BANKERS: Lloyds Bank
7 Carter Street
Uttoxeter
ST14 8HD

Turner & Hares Limited (Registered number: 11187880)

Statement of Financial Position
29 February 2024

29/2/24 28/2/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,898 3,004

CURRENT ASSETS
Stocks 69,396 63,116
Debtors 5 1,090 1,106
Cash at bank and in hand 50 19,871
70,536 84,093
CREDITORS
Amounts falling due within one year 6 59,423 64,577
NET CURRENT ASSETS 11,113 19,516
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,011

22,520

CREDITORS
Amounts falling due after more than one
year

7

12,500

22,500
NET ASSETS 511 20

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 509 18
SHAREHOLDERS' FUNDS 511 20

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Turner & Hares Limited (Registered number: 11187880)

Statement of Financial Position - continued
29 February 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 Board of Directors and authorised for issue on 5 November 2024 and were signed on its behalf by:




Miss D E Terndrup - Director



Miss C E Powney - Director


Turner & Hares Limited (Registered number: 11187880)

Notes to the Financial Statements
for the Year Ended 29 February 2024


1. STATUTORY INFORMATION

Turner & Hares 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

Turner & Hares Limited (Registered number: 11187880)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
Cost
At 1 March 2023
and 29 February 2024 5,963 1,419 7,382
Depreciation
At 1 March 2023 3,432 946 4,378
Charge for year 633 473 1,106
At 29 February 2024 4,065 1,419 5,484
Net book value
At 29 February 2024 1,898 - 1,898
At 28 February 2023 2,531 473 3,004

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Other debtors 1,090 1,106

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Bank loans and overdrafts 13,225 10,000
Trade creditors 20,434 28,260
Taxation and social security 19,968 22,742
Other creditors 5,796 3,575
59,423 64,577

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29/2/24 28/2/23
£    £   
Bank loans 12,500 22,500

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
29/2/24 28/2/23
£    £   
Within one year - 12,600

Turner & Hares Limited (Registered number: 11187880)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 February 2024 and 28 February 2023:

29/2/24 28/2/23
£    £   
Miss D E Terndrup
Balance outstanding at start of year (17 ) (17 )
Amounts advanced 24,000 29,900
Amounts repaid (24,000 ) (29,900 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (17 ) (17 )

Miss C E Powney
Balance outstanding at start of year (2,573 ) (3,973 )
Amounts advanced 22,000 31,300
Amounts repaid (24,000 ) (29,900 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (4,573 ) (2,573 )

10. POST BALANCE SHEET EVENTS

On 1st July 2024 the company committed to a 10 year rental lease of £1,500 per month.