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REGISTERED NUMBER: 08161667 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st July 2024

for

TURNER SQUARED LTD

TURNER SQUARED LTD (REGISTERED NUMBER: 08161667)






Contents of the Financial Statements
for the Year Ended 31st July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TURNER SQUARED LTD

Company Information
for the Year Ended 31st July 2024







DIRECTOR: A C Turner





SECRETARY: Mrs L Turner





REGISTERED OFFICE: 89 Leigh Road
Eastleigh
Hampshire
SO50 9DQ





REGISTERED NUMBER: 08161667 (England and Wales)





ACCOUNTANTS: Graham Martin & Co
Accountants
89 Leigh Road
Eastleigh
Hampshire
SO50 9DQ

TURNER SQUARED LTD (REGISTERED NUMBER: 08161667)

Balance Sheet
31st July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,405 7,206

CURRENT ASSETS
Debtors 5 5,821 7,661

CREDITORS
Amounts falling due within one year 6 44,885 33,167
NET CURRENT LIABILITIES (39,064 ) (25,506 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(33,659

)

(18,300

)

CREDITORS
Amounts falling due after more than one
year

7

(6,898

)

(7,882

)

PROVISIONS FOR LIABILITIES (1,351 ) (1,369 )
NET LIABILITIES (41,908 ) (27,551 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (41,910 ) (27,553 )
SHAREHOLDERS' FUNDS (41,908 ) (27,551 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

TURNER SQUARED LTD (REGISTERED NUMBER: 08161667)

Balance Sheet - continued
31st July 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28th November 2024 and were signed by:





A C Turner - Director


TURNER SQUARED LTD (REGISTERED NUMBER: 08161667)

Notes to the Financial Statements
for the Year Ended 31st July 2024

1. STATUTORY INFORMATION

Turner Squared Ltd 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.

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.

At 31st July 2024 the company's liabilities exceeded its assets by £41,908. These accounts have been prepared on the going concern basis as the Director has confirmed he will provide sufficient finance to enable the company to continue as a viable going concern for a minimum period of 12 months from approving these financial statements.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost and 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

TURNER SQUARED LTD (REGISTERED NUMBER: 08161667)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st August 2023
and 31st July 2024 11,891
DEPRECIATION
At 1st August 2023 4,685
Charge for year 1,801
At 31st July 2024 6,486
NET BOOK VALUE
At 31st July 2024 5,405
At 31st July 2023 7,206

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1st August 2023
and 31st July 2024 9,608
DEPRECIATION
At 1st August 2023
and 31st July 2024 2,402
NET BOOK VALUE
At 31st July 2024 7,206
At 31st July 2023 7,206

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5,821 7,661

TURNER SQUARED LTD (REGISTERED NUMBER: 08161667)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 7,807 4,379
Hire purchase contracts 984 984
Taxation and social security 35,805 27,331
Other creditors 289 473
44,885 33,167

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 6,898 7,882

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st July 2024 and 31st July 2023:

2024 2023
£    £   
A C Turner
Balance outstanding at start of year 69 284
Amounts advanced 88,522 73,695
Amounts repaid (88,586 ) (73,910 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 5 69

9. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party within Turner Squared Limited.