Company Registration No. 12610407 (England and Wales)
Turtle Property Services Ltd
Unaudited accounts
for the year ended 31 May 2024
Turtle Property Services Ltd
Unaudited accounts
Contents
Turtle Property Services Ltd
Company Information
for the year ended 31 May 2024
Company Number
12610407 (England and Wales)
Registered Office
23 Hermitage Wood Road
Bristol
Avon
BS16 1BF
England
Turtle Property Services Ltd
Statement of financial position
as at 31 May 2024
Investment property
822,585
822,585
Cash at bank and in hand
9,748
4,389
Creditors: amounts falling due within one year
(168,939)
(174,212)
Net current liabilities
(159,191)
(169,823)
Total assets less current liabilities
663,935
653,867
Creditors: amounts falling due after more than one year
(654,300)
(654,300)
Net assets/(liabilities)
9,635
(433)
Called up share capital
4
4
Profit and loss account
9,631
(437)
Shareholders' funds
9,635
(433)
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 February 2025 and were signed on its behalf by
A Kerai
Director
Company Registration No. 12610407
Turtle Property Services Ltd
Notes to the Accounts
for the year ended 31 May 2024
Turtle Property Services Ltd is a private company, limited by shares, registered in England and Wales, registration number 12610407. The registered office is 23 Hermitage Wood Road, Bristol, Avon, BS16 1BF, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Income comprises of rent receivable from investment properties and is recognised on an accruals basis.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Straight line
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Turtle Property Services Ltd
Notes to the Accounts
for the year ended 31 May 2024
4
Tangible fixed assets
Fixtures & fittings
Fair value at 1 June 2023
822,585
In the opinion of the directors, the market value of the investment property at the year end was not materially different to the cost.
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
3,966
-
Loans from directors
164,525
173,764
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
654,300
654,300
Included within bank loans is an amount of £654,300 (2023: £654,300) which is a secured bank loan which is payable and falling due after more than five years.
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).