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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
Page
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TURNFORD STORES LIMITED Company Information for the year ended 31 May 2024
Director
Garip Garip
Company Number
10761514 (England and Wales)
Registered Office
12 High Road Turnford Broxbourne Herts EN10 6AN United Kingdom
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TURNFORD STORES LIMITED Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
8,520 
10,329 
Current assets
Inventories
141,058 
128,540 
Debtors
1,125 
1,125 
Cash at bank and in hand
1,161 
3,309 
143,344 
132,974 
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)
Net assets
410 
2,916 
Capital and reserves
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
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TURNFORD STORES LIMITED Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
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.
Financial instruments
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.
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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 
Depreciation
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 
Net book value
At 31 May 2024
4,007 
4,175 
338 
8,520 
At 31 May 2023
4,714 
5,218 
397 
10,329 
5
Debtors
2024 
2023 
£ 
£ 
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 
Accruals
2,942 
2,942 
125,934 
109,387 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
25,520 
31,000 
8
Share capital
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).
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