Registered number: SC596204 | ||||||||
FOR THE YEAR ENDED 31 MAY 2024 | ||||||||
Prepared By: | ||||||||
Cunningham Grant | ||||||||
Chartered Accountants | ||||||||
Unit G6, The Granary Business Centre | ||||||||
Coal Road, Cupar | ||||||||
Fife | ||||||||
KY15 5YQ |
Tuturu Limited | ||||||||
FINANCIAL STATEMENTS | ||||||||
FOR THE YEAR ENDED 31 MAY 2024 | ||||||||
DIRECTORS | ||||||||
REGISTERED OFFICE | ||||||||
Fife | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in SC - Scotland, registered number SC596204 | ||||||||
ACCOUNTANTS | ||||||||
Cunningham Grant | ||||||||
Chartered Accountants | ||||||||
Unit G6, The Granary Business Centre | ||||||||
Coal Road, Cupar | ||||||||
Fife | ||||||||
KY15 5YQ |
Tuturu Limited | ||||||||
FINANCIAL STATEMENTS | ||||||||
FOR THEYEARENDED31 MAY 2024 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
Tuturu Limited | ||||||||
BALANCE SHEET AT | ||||||||||
2024 | 2023 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 3 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | ||||||||||
Debtors | 4 | |||||||||
Cash at bank and in hand | ||||||||||
9,160 | 9,459 | |||||||||
CREDITORS: Amounts falling due within one year | 5 | |||||||||
NET CURRENT LIABILITIES | ( | (6,020) | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ( | ( | ||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 6 | |||||||||
Profit and loss account | (4,477) | (3,841) | ||||||||
SHAREHOLDERS' FUNDS | ( | ( | ||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
Tuturu Limited | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31 MAY 2024 | ||||||||||
1. ACCOUNTING POLICIES |
1a. General Information & Basis of Accounting | ||||||||
The company is limited by shares and incorporated in Scotland. The address of the registered office is given in the company information on page 1 of these financial statements. | ||||||||
The financial statements have been prepared in accordance with Financial Reporting Standard FRS 102 including Section 1A Small Entities, the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. There were no material departures from that standard. | ||||||||
The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £1. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise shown. |
1b. Turnover | ||||||||
Turnover represents the amounts receivable arising from the supply of goods net of trade discounts. | ||||||||
Turnover is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. | ||||||||
Turnover is recognised as the fair value of the consideration received or receivable for services provided in the normal course of business, net of trade discounts. |
1c. Tangible Fixed Assets | ||||||||
Depreciation has been provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: | ||||||||
Equipment | straight line20% |
1d. Stocks | ||||||||
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. |
1e. Cash And Cash Equivalents | ||||||||
Cash and cash equivalents are basic financial instruments which include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. |
Tuturu Limited | ||||||||
1f. Financial Instruments | ||||||||
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. | ||||||||
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. | ||||||||
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
1g. Critical Accounting Estimates And Judgements | ||||||||
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. | ||||||||
The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. | ||||||||
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period, or in the period of the revision and future periods where the revision affects both current and future periods. |
2. EMPLOYEES | ||||||
2024 | 2023 | |||||
No. | No. | |||||
Average number of employees | 1 | |||||
3. TANGIBLE FIXED ASSETS | ||||
Plant and | ||||
Machinery Etc. | Total | |||
£ | £ | |||
Cost | ||||
At 1 June 2023 | 14,302 | 14,302 | ||
Additions | 497 | 497 | ||
At 31 May 2024 | 14,799 | 14,799 | ||
Depreciation | ||||
At 1 June 2023 | 12,023 | 12,023 | ||
For the year | 1,077 | 1,077 | ||
At 31 May 2024 | 13,100 | 13,100 | ||
Net Book Amounts | ||||
At 31 May 2024 | 1,699 | 1,699 | ||
At 31 May 2023 | 2,279 | 2,279 | ||
Tuturu Limited | ||||||||
4. DEBTORS | 2024 | 2023 | ||||||
£ | £ | |||||||
Amounts falling due within one year: | ||||||||
Trade debtors | 57 | 650 | ||||||
Other Tax | 61 | 61 | ||||||
Other debtors | 203 | 240 | ||||||
321 | 951 | |||||||
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Other creditors | 15,236 | 15,479 | ||||||
15,236 | 15,479 | |||||||
6. SHARE CAPITAL | 2024 | 2023 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
100 | 100 | |||||||
100 | 100 | |||||||
7. RELATED PARTY TRANSACTIONS | |||||||||||||||||||||||||||||||||||||
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