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Company No: 07366769 (England and Wales)

TURNER (WINTERBOURNE STOKE) LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

TURNER (WINTERBOURNE STOKE) LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

TURNER (WINTERBOURNE STOKE) LIMITED

BALANCE SHEET

As at 31 March 2024
TURNER (WINTERBOURNE STOKE) LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Restated - note 2
Fixed assets
Tangible assets 4 436,233 430,843
436,233 430,843
Current assets
Stocks 3,400 3,400
Debtors 5 598,155 548,182
Cash at bank and in hand 90,810 250,779
692,365 802,361
Creditors: amounts falling due within one year 6 ( 91,375) ( 192,601)
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 0 ( 26,358)
Provision for liabilities ( 82,826) ( 81,802)
Net assets 954,397 932,443
Capital and reserves
Called-up share capital 100 100
Profit and loss account 954,297 932,343
Total shareholders' funds 954,397 932,443

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Turner (Winterbourne Stoke) Limited (registered number: 07366769) were approved and authorised for issue by the Board of Directors on 07 November 2024. They were signed on its behalf by:

Mrs F E Turner
Director
Mr M E Turner
Director
Ms P L Turner
Director
TURNER (WINTERBOURNE STOKE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
TURNER (WINTERBOURNE STOKE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

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.

General information and basis of accounting

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 £.

Prior year adjustment

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

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

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.

Taxation

Current tax
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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 15 % reducing balance
Fixtures and fittings 25 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases


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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

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.

Defined contribution pension obligation

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.

2. Prior year adjustment

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

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 1 1

4. Tangible assets

Plant and machinery Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 01 April 2023 996,156 96,973 475 1,093,604
Additions 87,728 0 266 87,994
Disposals ( 16,305) 0 0 ( 16,305)
At 31 March 2024 1,067,579 96,973 741 1,165,293
Accumulated depreciation
At 01 April 2023 600,885 61,744 132 662,761
Charge for the financial year 66,523 8,827 81 75,431
Disposals ( 9,132) 0 0 ( 9,132)
At 31 March 2024 658,276 70,571 213 729,060
Net book value
At 31 March 2024 409,303 26,402 528 436,233
At 31 March 2023 395,271 35,229 343 430,843

5. Debtors

2024 2023
£ £
Trade debtors 589,037 541,833
Amounts owed by directors 0 4,174
Prepayments 2,194 2,175
Other debtors 6,924 0
598,155 548,182

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 8,807 17,189
Amounts owed to directors 11,398 0
Accruals and deferred income 17,103 61,470
Taxation and social security 23,837 28,307
Obligations under finance leases and hire purchase contracts 29,100 17,317
Other creditors 1,130 68,318
91,375 192,601

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts 0 26,358

There are no amounts included above in respect of which any security has been given by the small entity.

8. Related party transactions

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%