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REGISTERED NUMBER: 13077755 (England and Wales)















TURN 7 LIMITED

Unaudited Financial Statements

For The Year Ended 29 February 2024






TURN 7 LIMITED (REGISTERED NUMBER: 13077755)

Contents of the Financial Statements
For The Year Ended 29 February 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


TURN 7 LIMITED

Company Information
For The Year Ended 29 February 2024







DIRECTORS: J A McDougall
C A Ross
C M McDoughall





SECRETARY: J A McDougall





REGISTERED OFFICE: Warrington Farm House
Church Road
Paddock Wood
Tonbridge
Kent
TN12 6HE





REGISTERED NUMBER: 13077755 (England and Wales)





ACCOUNTANTS: Hilden Park Accountants Limited
Hilden Park House
79 Tonbridge Road
Hildenborough
Tonbridge
Kent
TN11 9BH

TURN 7 LIMITED (REGISTERED NUMBER: 13077755)

Abridged Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22,527 24,963

CURRENT ASSETS
Stocks 291,135 264,038
Debtors 29,601 3,205
Cash at bank and in hand 70,885 33,428
391,621 300,671
CREDITORS
Amounts falling due within one year 82,071 38,295
NET CURRENT ASSETS 309,550 262,376
TOTAL ASSETS LESS CURRENT
LIABILITIES

332,077

287,339

CREDITORS
Amounts falling due after more than one
year

315,980

273,908
NET ASSETS 16,097 13,431

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 15,897 13,231
16,097 13,431

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.

TURN 7 LIMITED (REGISTERED NUMBER: 13077755)

Abridged Balance Sheet - 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 29 February 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 23 November 2024 and were signed on its behalf by:





J A McDougall - Director


TURN 7 LIMITED (REGISTERED NUMBER: 13077755)

Notes to the Financial Statements
For The Year Ended 29 February 2024


1. STATUTORY INFORMATION

Turn 7 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 33% straight line
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Office equipment - 33% straight line

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

TURN 7 LIMITED (REGISTERED NUMBER: 13077755)

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


2. ACCOUNTING POLICIES - continued

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 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023 34,675
Additions 6,056
Disposals (4,389 )
At 29 February 2024 36,342
DEPRECIATION
At 1 March 2023 9,712
Charge for year 6,259
Eliminated on disposal (2,156 )
At 29 February 2024 13,815
NET BOOK VALUE
At 29 February 2024 22,527
At 28 February 2023 24,963