2022-12-012023-11-302023-11-30false12991032TOTALLY TURKISH 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TOTALLY TURKISH LTD

Registered Number
12991032
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

TOTALLY TURKISH LTD
Company Information
for the year from 1 December 2022 to 30 November 2023

Directors

Alexander Schuler
Gokce Schuler

Registered Address

13 The Close
Norwich
NR1 4DS

Registered Number

12991032 (England and Wales)
TOTALLY TURKISH LTD
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets323,74327,052
23,74327,052
Current assets
Stocks418,84419,804
Debtors24,8038,390
Cash at bank and on hand10,07719,708
53,72447,902
Creditors amounts falling due within one year5(32,856)(35,691)
Net current assets (liabilities)20,86812,211
Total assets less current liabilities44,61139,263
Creditors amounts falling due after one year6(12,351)(15,302)
Net assets32,26023,961
Capital and reserves
Called up share capital22
Profit and loss account32,25823,959
Shareholders' funds32,26023,961
The financial statements were approved and authorised for issue by the Board of Directors on 19 November 2024, and are signed on its behalf by:
Gokce Schuler
Director
Registered Company No. 12991032
TOTALLY TURKISH LTD
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Revenue from sale of goods
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.
Interest income
Interest income is recognised using the effective interest rate method.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Vehicles10-
Office Equipment-4
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Trade and other 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.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20232022
Average number of employees during the year22
3.Tangible fixed assets

Vehicles

Office Equipment

Total

£££
Cost or valuation
At 01 December 2229,5993,36432,963
At 30 November 2329,5993,36432,963
Depreciation and impairment
At 01 December 224,9319805,911
Charge for year2,4668433,309
At 30 November 237,3971,8239,220
Net book value
At 30 November 2322,2021,54123,743
At 30 November 2224,6682,38427,052
4.Stocks

2023

2022

££
Other stocks18,84419,804
Total18,84419,804
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables6248
Taxation and social security10,28413,121
Finance lease and HP contracts3,1553,014
Other creditors19,35519,508
Total32,85635,691
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. Finance lease and HP contracts is secured debt over the assets to which they relate.
6.Creditors: amounts due after one year

2023

2022

££
Other creditors12,35115,302
Total12,35115,302
7.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts12,35115,302