IRIS Accounts Production v24.3.0.553 01380530 director 1.6.23 31.5.24 31.5.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh013805302023-05-31013805302024-05-31013805302023-06-012024-05-31013805302022-05-31013805302022-06-012023-05-31013805302023-05-3101380530ns15:EnglandWales2023-06-012024-05-3101380530ns14:PoundSterling2023-06-012024-05-3101380530ns10:Director12023-06-012024-05-3101380530ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3101380530ns10:SmallEntities2023-06-012024-05-3101380530ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3101380530ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3101380530ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3101380530ns10:FullAccounts2023-06-012024-05-3101380530ns10:RegisteredOffice2023-06-012024-05-3101380530ns5:CurrentFinancialInstruments2024-05-3101380530ns5:CurrentFinancialInstruments2023-05-3101380530ns5:ShareCapital2024-05-3101380530ns5:ShareCapital2023-05-3101380530ns5:SharePremium2024-05-3101380530ns5:SharePremium2023-05-3101380530ns5:FurtherSpecificReserve2ComponentTotalEquity2024-05-3101380530ns5:FurtherSpecificReserve2ComponentTotalEquity2023-05-3101380530ns5:RetainedEarningsAccumulatedLosses2024-05-3101380530ns5:RetainedEarningsAccumulatedLosses2023-05-3101380530ns5:PlantMachinery2023-06-012024-05-3101380530ns5:MotorVehicles2023-06-012024-05-3101380530ns5:ComputerEquipment2023-06-012024-05-3101380530ns5:PlantMachinery2023-05-3101380530ns5:MotorVehicles2023-05-3101380530ns5:ComputerEquipment2023-05-3101380530ns5:PlantMachinery2024-05-3101380530ns5:MotorVehicles2024-05-3101380530ns5:ComputerEquipment2024-05-3101380530ns5:PlantMachinery2023-05-3101380530ns5:MotorVehicles2023-05-3101380530ns5:ComputerEquipment2023-05-3101380530ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-3101380530ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-31
REGISTERED NUMBER: 01380530 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

CLEM TURTON LIMITED

CLEM TURTON LIMITED (REGISTERED NUMBER: 01380530)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


CLEM TURTON LIMITED

COMPANY INFORMATION
for the Year Ended 31 May 2024







DIRECTOR: J B Ashcroft



REGISTERED OFFICE: Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB



REGISTERED NUMBER: 01380530 (England and Wales)



ACCOUNTANTS: Fairhurst Accountants Ltd
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB



BANKERS: Handelsbanken
Unit 5 Beecham Court
Wigan
WN3 6PR

CLEM TURTON LIMITED (REGISTERED NUMBER: 01380530)

STATEMENT OF FINANCIAL POSITION
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,847 2,559
Investment property 5 350,000 350,000
351,847 352,559

CURRENT ASSETS
Stocks 3,000 3,000
Debtors 6 24,226 13,975
Cash at bank 60,582 20,367
87,808 37,342
CREDITORS
Amounts falling due within one year 7 30,167 28,835
NET CURRENT ASSETS 57,641 8,507
TOTAL ASSETS LESS CURRENT
LIABILITIES

409,488

361,066

PROVISIONS FOR LIABILITIES 59,725 59,725
NET ASSETS 349,763 301,341

CAPITAL AND RESERVES
Called up share capital 45 45
Other reserve 45 45
Non distributable reserve 268,480 268,480
Retained earnings 81,193 32,771
SHAREHOLDERS' FUNDS 349,763 301,341

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

CLEM TURTON LIMITED (REGISTERED NUMBER: 01380530)

STATEMENT OF FINANCIAL POSITION - continued
31 May 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 27 January 2025 and were signed by:





J B Ashcroft - Director


CLEM TURTON LIMITED (REGISTERED NUMBER: 01380530)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Clem Turton 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.

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.

Rental income
Rental income represents net rentals receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are stated at cost less depreciation and impairment.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply when the property is sold.

Stocks
Stock and work in progress is valued at the lower of cost and net realisable value after provision for any anticipated future losses.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Financial instruments
Short term financial assets, including trade and other debtors and cash and bank balances, are measured at the transaction price. Financial assets that have no stated interest rate and are recoverable within one year shall be measured at the undiscounted amount due.

Short term financial liabilities, including trade and other creditors, are measured at the transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due.

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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


CLEM TURTON LIMITED (REGISTERED NUMBER: 01380530)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Leases
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under 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 shorter.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023
and 31 May 2024 24,899 34,284 1,469 60,652
DEPRECIATION
At 1 June 2023 24,283 33,320 490 58,093
Charge for year 93 241 378 712
At 31 May 2024 24,376 33,561 868 58,805
NET BOOK VALUE
At 31 May 2024 523 723 601 1,847
At 31 May 2023 616 964 979 2,559

CLEM TURTON LIMITED (REGISTERED NUMBER: 01380530)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 350,000
NET BOOK VALUE
At 31 May 2024 350,000
At 31 May 2023 350,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 21,600 12,000
Other debtors 169 184
VAT 1,591 1,009
Prepayments 866 782
24,226 13,975

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 4,170 3,165
Tax 3,631 -
Social security and other taxes 150 -
Other creditors 11,000 11,000
Shareholders loan 9,191 12,691
Directors' current accounts 46 -
Accrued expenses 1,979 1,979
30,167 28,835