Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Restated - note 2 | ||||
Fixed assets | ||||
Tangible assets | 4 |
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436,233 | 430,843 | |||
Current assets | ||||
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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692,365 | 802,361 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current assets | 600,990 | 609,760 | ||
Total assets less current liabilities | 1,037,223 | 1,040,603 | ||
Creditors: amounts falling due after more than one year | 7 |
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Provision for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Turner (Winterbourne Stoke) Limited (registered number:
Mrs F E Turner
Director |
Mr M E Turner
Director |
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Ms P L Turner
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Turner (Winterbourne Stoke) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Manor Farm, Winterbourne Stoke, Salisbury, SP3 4SZ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Last year accounts are amended to increase the management charges receivable of £12,325.95 from J and M Turner and Sons for Stonehenge. As a result the corporation tax charge increased by £2,341.94
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
Plant and machinery |
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Fixtures and fittings |
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Office equipment |
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The Company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
As previously reported | Adjustment | As restated | ||||
Year ended 31 March 2023 | £ | £ | £ | |||
Contracting charges receivable | 334,320 | 12,326 | 346,646 | |||
Corporation tax | 23,789 | 2,342 | 26,131 |
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Plant and machinery | Fixtures and fittings | Office equipment | Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 01 April 2023 |
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Additions |
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Disposals | (
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At 31 March 2024 |
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Accumulated depreciation | |||||||
At 01 April 2023 |
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Charge for the financial year |
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Disposals | (
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At 31 March 2024 |
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Net book value | |||||||
At 31 March 2024 |
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At 31 March 2023 |
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2024 | 2023 | ||
£ | £ | ||
Trade debtors |
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Amounts owed by directors |
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Prepayments |
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Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Trade creditors |
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Amounts owed to directors |
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Accruals and deferred income |
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Taxation and social security |
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Obligations under finance leases and hire purchase contracts |
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Other creditors |
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2024 | 2023 | ||
£ | £ | ||
Obligations under finance leases and hire purchase contracts |
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Transactions with directors - Ms P L Turner
2024 | 2023 | ||
£ | £ | ||
Opening balance | (11,080) | 0 | |
Advances to director | (9,437) | (50,751) | |
Repayments by director | 0 | 39,671 | |
(20,517) | (11,080) |
Loans to directors are repayable on demand and subject to interest of 2%