Company Registration No. 10761514 (England and Wales)
TURNFORD STORES LIMITED
Unaudited accounts
for the year ended 31 May 2024
TURNFORD STORES LIMITED
Unaudited accounts
Contents
TURNFORD STORES LIMITED
Company Information
for the year ended 31 May 2024
Company Number
10761514 (England and Wales)
Registered Office
12 High Road
Turnford
Broxbourne
Herts
EN10 6AN
United Kingdom
TURNFORD STORES LIMITED
Statement of financial position
as at 31 May 2024
Tangible assets
8,520
10,329
Inventories
141,058
128,540
Cash at bank and in hand
1,161
3,309
Creditors: amounts falling due within one year
(125,934)
(109,387)
Net current assets
17,410
23,587
Total assets less current liabilities
25,930
33,916
Creditors: amounts falling due after more than one year
(25,520)
(31,000)
Called up share capital
1
1
Profit and loss account
409
2,915
Shareholders' funds
410
2,916
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 director acknowledges his 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 and authorised for issue on 14 February 2025 and were signed on its behalf by
Garip Garip
Director
Company Registration No. 10761514
TURNFORD STORES LIMITED
Notes to the Accounts
for the year ended 31 May 2024
TURNFORD STORES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10761514. The registered office is 12 High Road, Turnford, Broxbourne, Herts, EN10 6AN, United Kingdom.
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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
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:
Plant & machinery
15% reducing balance method
Motor vehicles
20% reducing balance method
Fixtures & fittings
15% reducing balance method
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
TURNFORD STORES LIMITED
Notes to the Accounts
for the year ended 31 May 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 June 2023
12,500
10,190
1,051
23,741
At 31 May 2024
12,500
10,190
1,051
23,741
At 1 June 2023
7,786
4,972
654
13,412
Charge for the year
707
1,043
59
1,809
At 31 May 2024
8,493
6,015
713
15,221
At 31 May 2024
4,007
4,175
338
8,520
At 31 May 2023
4,714
5,218
397
10,329
Amounts falling due within one year
Accrued income and prepayments
1,125
1,125
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
6,408
6,624
Trade creditors
14,436
14,841
Taxes and social security
16,318
21,334
Loans from directors
85,830
63,646
7
Creditors: amounts falling due after more than one year
2024
2023
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
9
Average number of employees
During the year the average number of employees was 3 (2023: 4).