Registered number
06523115
Turmeric Gold Limited
Unaudited Filleted Accounts
31 March 2024
API Partnership Ltd T/A Chandler & Georges
Chartered Accountants
75 Westow Hill
LONDON
SE19 1TX
Tel: 0208 761 2213
www.cgca.co.uk
Turmeric Gold Limited
Registered number: 06523115
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 96,815 104,060
Current assets
Stocks 10,321 5,761
Debtors 4 55,519 56,303
Cash at bank and in hand 15,529 7,694
81,369 69,758
Creditors: amounts falling due within one year 5 (134,395) (102,980)
Net current liabilities (53,026) (33,222)
Total assets less current liabilities 43,789 70,838
Creditors: amounts falling due after more than one year 6 (12,047) (22,047)
Provisions for liabilities (6,700) (7,538)
Net assets 25,042 41,253
Capital and reserves
Called up share capital 100 100
Profit and loss account 24,942 41,153
Shareholders' funds 25,042 41,253
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr K Islam
Director
Approved by the board on 2 September 2024
Turmeric Gold Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings 5% straight line
Plant and machinery 20% reducing balance
Plant and machinery 20% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Government Grants
Government grants are recognised where there is reasonable assurance that the grant will be received, and all attached conditions will be complied with. When the grant relates to an expense item, it is recognised as income on a systematic basis over the periods that the related costs, for which it is intended to compensate, are expensed.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 18 20
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 110,574 199,168 309,742
Additions - 8,065 8,065
At 31 March 2024 110,574 207,233 317,807
Depreciation
At 1 April 2023 41,680 164,002 205,682
Charge for the year 5,530 9,780 15,310
At 31 March 2024 47,210 173,782 220,992
Net book value
At 31 March 2024 63,364 33,451 96,815
At 31 March 2023 68,894 35,166 104,060
4 Debtors 2024 2023
£ £
Trade debtors 14,396 2,894
Other debtors 41,123 53,409
55,519 56,303
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 21,983 31,424
Taxation and social security costs 30,922 48,587
Other creditors 71,490 12,969
134,395 102,980
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 12,047 22,047
The company took advantage of The Bounce Back Loan Scheme (BBLS) by borrowing £50,000. The rate of interest is 2.5% and the loan is repayable in 6 years with the first repayment commencing June 2021.
7 Related party transactions
Turmeric Square Ltd
Key management

Inculding in Other creditors is an amount £2,042 (2023 £Nil) owed to Turmeric Square Ltd, a company which Mr K Islam is a director and 50% shareholder.
8 Controlling party
The company is controlled by Mr A S Subhan, Mr M H Ali and Mr K Islam, who owns the shares in respective manner 33%,33% and 34%.
9 Other information
Turmeric Gold Limited is a private company limited by shares and incorporated in England. Its registered office is:
75 Westow Hill
LONDON
SE19 1TX
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