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Company Registration No.02958682 (England and Wales)





TOUREEN RETAIL LIMITED

UNAUDITED
DIRECTORS' REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 JULY 2024

































Riordan O'Sullivan & Co
Chartered Certified Accountants
40 Chamberlayne Road
London
NW10 3JE

 
TOUREEN RETAIL LIMITED
 
 
COMPANY INFORMATION


Directors
Daniel Nolan 
Michael Sheahan 
Paul Hamilton 




Registered number
02958682



Registered office
Aldenham Golf & Country Club
Church Lane

Aldenham

Watford

Hertfordshire

WD25 8NN




Accountants
Riordan O'Sullivan & Co
Chartered Certified Accountants

40 Chamberlayne Road

London

NW10 3JE





 
TOUREEN RETAIL LIMITED
 

CONTENTS



Page
Directors' Report
 
 
1
Accountants' Report
 
 
2
Balance Sheet
 
 
3 - 4
Notes to the Financial Statements
 
 
5 - 9


 
TOUREEN RETAIL LIMITED
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JULY 2024

The directors present their report and the financial statements for the year ended 31 July 2024.

Principal activity

The principal activities of the company continued to be that of building and civil engineering.

Directors

The directors who served during the year were:

Daniel Nolan 
Michael Sheahan 
Paul Hamilton 

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 14 April 2025 and signed on its behalf.
 





___________________________
Daniel Nolan
Director

Page 1

 
TOUREEN RETAIL LIMITED
 
 
  
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF TOUREEN RETAIL LIMITED
FOR THE YEAR ENDED 31 JULY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Toureen Retail Limited for the year ended 31 July 2024 which comprise  the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountantswe are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal .com/uk/en/about-us /regulation/ethics /acca-rulebook.html.

This report is made solely to the Board of Directors of Toureen Retail Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Toureen Retail Limited and state those matters that we have agreed to state to the Board of Directors of Toureen Retail Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal .com/content/dam/ ACCA_Global/ Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Toureen Retail Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Toureen Retail Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Toureen Retail Limited. You consider that Toureen Retail Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Toureen Retail Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Riordan O'Sullivan & Co
Chartered Certified Accountants
40 Chamberlayne Road
London
NW10 3JE
14 April 2025
Page 2

 
TOUREEN RETAIL LIMITED
REGISTERED NUMBER:02958682

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
7,433
25,771

  
7,433
25,771

Current assets
  

Stocks
  
86,940
62,286

Debtors
 5 
2,379,364
2,578,043

Cash at bank and in hand
  
4,199,484
950,263

  
6,665,788
3,590,592

Creditors: amounts falling due within one year
 6 
(3,550,607)
(653,360)

Net current assets
  
 
 
3,115,181
 
 
2,937,232

Total assets less current liabilities
  
3,122,614
2,963,003

Provisions for liabilities
  

Deferred tax
 7 
(1,878)
(2,213)

  
 
 
(1,878)
 
 
(2,213)

Net assets
  
3,120,736
2,960,790


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
3,120,734
2,960,788

  
3,120,736
2,960,790


Page 3

 
TOUREEN RETAIL LIMITED
REGISTERED NUMBER:02958682
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 April 2025.


___________________________
Daniel Nolan
Director

Page 4

 
TOUREEN RETAIL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Toureen Retail Limited is a private company limited by shares incorporated in England and Wales. The registered office is Aldenham Golf & Country Club, Church Lane, Aldenham, Watford, Hertfordshire,  WD25 8NN.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

 
2.3

Turnover

Turnover for contracting activities is recognised at the fair value of the consideration received or receivable in the normal course of business, and shown net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 
2.4

Operating leases

Rentals paid under operating leases are charged to the profit and loss account on a straight-line basis over the lease term.

 
2.5

Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expenses that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing differences arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. 


Page 5

 
TOUREEN RETAIL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and equipment
-
25%
Reducing balance
Fixtures and fittings
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the profit and loss account.
Leasehold improvements are amortised on a straight line basis over the term of the lease.

 
2.7

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

 
2.8

Pensions

The company operates a defined contribution plan for its employees. 
The contributions are recognised as an expense in the profit and loss account when they fall due. Amounts not paid are shown as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.9

Construction contracts

Amounts recoverable on contracts, including contract work-in-progress, are shown within debtors and are stated at the net sales value of the work done after provisions for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Turnover and related costs are recorded as contract activity progresses. An appropriate proportion of the anticipated contract profit or loss is recognised as the contract activity progresses commensurate with performance and anticipated final outcome. Excess progress payments are included in creditors as payments received on account.

 
2.10

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. 

Page 6

 
TOUREEN RETAIL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 18 (2023 - 18).


4.


Tangible fixed assets





Leasehold improvements
Plant and equipment
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 August 2023
105,263
19,148
9,276
133,687


Additions
-
677
183
860



At 31 July 2024

105,263
19,825
9,459
134,547



Depreciation


At 1 August 2023
88,345
13,122
6,449
107,916


Charge for the year
16,918
1,570
710
19,198



At 31 July 2024

105,263
14,692
7,159
127,114



Net book value



At 31 July 2024
-
5,133
2,300
7,433



At 31 July 2023
16,918
6,026
2,827
25,771

Page 7

 
TOUREEN RETAIL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Debtors

2024
2023
£
£

Amounts recoverable on contracts
1,659,540
548,945

Amounts owed by group undertakings
17,026
609,452

Amounts owed by related undertakings
583,228
1,317,326

Other debtors
65,564
65,314

Prepayments
54,006
37,006

2,379,364
2,578,043


Amounts owed by group and related undertakings are interest free, unsecured and repayable on demand.


6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
248,523
94,906

Amounts owed to group undertakings
1,000,974
-

Amounts owed to related undertakings
25,423
1,786

Corporation tax
409,567
236,473

Other taxation and social security
91,396
83,409

Other creditors
12,341
7,875

Accruals
1,762,383
228,911

3,550,607
653,360


Amounts owed to group and related undertakings are interest free, unsecured and repayable on demand.

Page 8

 
TOUREEN RETAIL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

7.


Deferred taxation




2024
2023


£

£



At beginning of year
2,213
2,243


Charge/(credit) to profit or loss
(335)
(30)



At end of year
1,878
2,213

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
1,878
2,213


8.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £19,199 (2023 - £15,633). Contributions totalling £1,201 (2023 - £861) were payable to the fund at the balance sheet date and are included in creditors.


9.


Post balance sheet events

There were no events since the year end which materially affected the company. 


10.


Parent company

TRL Holdings Limited owns the entire share capital of Toureen Retail Limited and therefore is the ultimate parent company.

Page 9