Registered number
11868759
Peter Frank & R W Turl Limited
Unaudited Filleted Accounts
31 March 2025
Peter Frank & R W Turl Limited
Registered number: 11868759
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Intangible assets 3 9,360 11,700
Tangible assets 4 103,931 137,575
113,291 149,275
Current assets
Stocks 5,000 6,000
Debtors 5 54,706 54,593
Cash at bank and in hand 382,657 291,671
442,363 352,264
Creditors: amounts falling due within one year 6 (241,348) (225,727)
Net current assets 201,015 126,537
Total assets less current liabilities 314,306 275,812
Provisions for liabilities (10,388) (14,240)
Net assets 303,918 261,572
Capital and reserves
Called up share capital 2 2
Profit and loss account 303,916 261,570
Shareholders' funds 303,918 261,572
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr R Turl
Director
Approved by the board on 9 May 2025
Peter Frank & R W Turl Limited
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over 10 years
Plant and machinery over 5 years
Motor vehicles over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 5 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2024 23,400
At 31 March 2025 23,400
Amortisation
At 1 April 2024 11,700
Provided during the year 2,340
At 31 March 2025 14,040
Net book value
At 31 March 2025 9,360
At 31 March 2024 11,700
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2024 95,093 22,305 136,219 253,617
Additions - 3,217 - 3,217
At 31 March 2025 95,093 25,522 136,219 256,834
Depreciation
At 1 April 2024 39,539 15,744 60,759 116,042
Charge for the year 9,509 2,862 24,490 36,861
At 31 March 2025 49,048 18,606 85,249 152,903
Net book value
At 31 March 2025 46,045 6,916 50,970 103,931
At 31 March 2024 55,554 6,561 75,460 137,575
5 Debtors 2025 2024
£ £
Trade debtors 36,666 28,847
Other debtors 18,040 25,746
54,706 54,593
6 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors 10,330 10,381
Taxation and social security costs 35,900 15,322
Other creditors 195,118 200,024
241,348 225,727
7 Other information
Peter Frank & R W Turl Limited is a private company limited by shares and incorporated in England. Its registered office is:
5 Providence Court
Pynes Hill
Exeter
Devon
EX2 5JL
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