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REGISTERED NUMBER: 05718666 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st March 2024

for

Turn.A.Property Limited

Turn.A.Property Limited (Registered number: 05718666)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Turn.A.Property Limited

Company Information
for the Year Ended 31st March 2024







DIRECTORS: D H Turner
Mrs S L Turner
L A Turner





SECRETARY: D H Turner





REGISTERED OFFICE: 39 Upfield
Croydon
Surrey
CR0 5DR





REGISTERED NUMBER: 05718666 (England and Wales)





ACCOUNTANTS: OCG Accountants Ltd
Biz Hub Tees Valley
Belasis Hall Technology Park
Coxwold Way
Billingham
Co. Durham
TS23 4EA

Turn.A.Property Limited (Registered number: 05718666)

Balance Sheet
31st March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 269,035 283,045
Investment property 5 2,729,000 2,784,000
2,998,035 3,067,045

CURRENT ASSETS
Debtors 6 508,315 484,065
Cash at bank 82,777 3,559
591,092 487,624
CREDITORS
Amounts falling due within one year 7 (228,505 ) (316,780 )
NET CURRENT ASSETS 362,587 170,844
TOTAL ASSETS LESS CURRENT LIABILITIES 3,360,622 3,237,889

CREDITORS
Amounts falling due after more than one
year

8

(2,098,099

)

(1,874,418

)

PROVISIONS FOR LIABILITIES (249,365 ) (275,014 )
NET ASSETS 1,013,158 1,088,457

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 10 1,144,825 1,254,169
Retained earnings (131,767 ) (165,812 )
1,013,158 1,088,457

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Turn.A.Property Limited (Registered number: 05718666)

Balance Sheet - continued
31st March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10th April 2025 and were signed on its behalf by:





D H Turner - Director


Turn.A.Property Limited (Registered number: 05718666)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

Turn.A.Property 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 as modified by the revaluation of certain assets.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs have been fully amortised in the current year.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Turn.A.Property Limited (Registered number: 05718666)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

2. ACCOUNTING POLICIES - continued

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 2 ).

4. TANGIBLE FIXED ASSETS
Freehold Long Plant and Motor
property leasehold machinery vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1st April 2023 - 251,000 1,722 55,793 308,515
Additions 73,992 - - - 73,992
Revaluations (79,992 ) - - - (79,992 )
Reclassification/transfer 251,000 (251,000 ) - - -
At 31st March 2024 245,000 - 1,722 55,793 302,515
DEPRECIATION
At 1st April 2023 - - 1,060 24,410 25,470
Charge for year - - 165 7,845 8,010
At 31st March 2024 - - 1,225 32,255 33,480
NET BOOK VALUE
At 31st March 2024 245,000 - 497 23,538 269,035
At 31st March 2023 - 251,000 662 31,383 283,045

Cost or valuation at 31st March 2024 is represented by:

Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
Cost 245,000 1,722 55,793 302,515

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023 2,784,000
Revaluations (55,000 )
At 31st March 2024 2,729,000
NET BOOK VALUE
At 31st March 2024 2,729,000
At 31st March 2023 2,784,000

Turn.A.Property Limited (Registered number: 05718666)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

5. INVESTMENT PROPERTY - continued

Fair value at 31st March 2024 is represented by:
£   
Valuation in 2023 1,368,474
Valuation in 2024 (55,000 )
Cost 1,415,526
2,729,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 13,750 -
Other debtors 494,565 484,065
508,315 484,065

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 113 755
Other creditors 221,394 309,891
Directors' current accounts 5,558 4,734
Accrued expenses 1,440 1,400
228,505 316,780

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 2,098,099 1,874,418

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgages 2,098,099 1,874,418

10. RESERVES
Revaluation
reserve
£   
At 1st April 2023 1,254,169
Transfer (109,344 )

At 31st March 2024 1,144,825