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REGISTERED NUMBER: 11620619 (England and Wales)















A & M TURNEY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






A & M TURNEY LIMITED (REGISTERED NUMBER: 11620619)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 8

Accountants' Report 9

A & M TURNEY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: Mrs M B Turney
Ms J M Turney
R A Turney
Mrs M E Turney MRICS FAAV





REGISTERED OFFICE: Cadle Pool Farm
The Ridgeway Road
Stratford on Avon
Warwickshire
CV37 9RE





REGISTERED NUMBER: 11620619 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ

A & M TURNEY LIMITED (REGISTERED NUMBER: 11620619)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 6,462,795 6,561,429
Investments 6 1 1
Investment property 7 5,614,523 5,517,307
12,077,319 12,078,737

CURRENT ASSETS
Valuation 980,060 1,045,234
Debtors 8 921,462 943,993
Cash at bank 1,069,088 947,424
2,970,610 2,936,651
CREDITORS
Amounts falling due within one year 9 1,508,439 2,151,756
NET CURRENT ASSETS 1,462,171 784,895
TOTAL ASSETS LESS CURRENT LIABILITIES 13,539,490 12,863,632

CREDITORS
Amounts falling due after more than one year 10 (68,208 ) (66,328 )

PROVISIONS FOR LIABILITIES (403,521 ) (400,352 )
NET ASSETS 13,067,761 12,396,952

CAPITAL AND RESERVES
Called up share capital 12 5,897,294 5,897,294
Share premium 4,699,428 4,699,428
Capital redemption reserve 1,200,000 1,200,000
Retained earnings 1,271,039 600,230
SHAREHOLDERS' FUNDS 13,067,761 12,396,952

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

A & M TURNEY LIMITED (REGISTERED NUMBER: 11620619)

STATEMENT OF FINANCIAL POSITION - continued
30 SEPTEMBER 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 20 May 2025 and were signed on its behalf by:





R A Turney - Director


A & M TURNEY LIMITED (REGISTERED NUMBER: 11620619)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

A & M Turney 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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.

Entitlements are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 5% on cost and not provided
Plant and machinery etc - 25% on reducing balance, 15% on reducing balance, 12.5% on reducing balance, 5% on cost and 5% Reducing Balance

Tangible fixed assets are held at cost less depreciation.

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.

Stocks
Stock is valued each year by the directors at the lower of cost and fair value, less costs to complete and sell after making due allowance for slow moving items. Costs include any cost of production incurred in bringing the stock to its state at the balance sheet date.

Financial instruments
The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

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 business from suppliers. Accounts 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.


A & M TURNEY LIMITED (REGISTERED NUMBER: 11620619)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 October 2023 12,596
Disposals (12,596 )
At 30 September 2024 -
AMORTISATION
At 1 October 2023 12,596
Eliminated on disposal (12,596 )
At 30 September 2024 -
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

A & M TURNEY LIMITED (REGISTERED NUMBER: 11620619)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2023 5,033,758 2,471,573 7,505,331
Additions - 196,226 196,226
Disposals - (120,676 ) (120,676 )
At 30 September 2024 5,033,758 2,547,123 7,580,881
DEPRECIATION
At 1 October 2023 150,049 793,853 943,902
Charge for year 40,306 187,767 228,073
Eliminated on disposal - (53,889 ) (53,889 )
At 30 September 2024 190,355 927,731 1,118,086
NET BOOK VALUE
At 30 September 2024 4,843,403 1,619,392 6,462,795
At 30 September 2023 4,883,709 1,677,720 6,561,429

The net book value of tangible fixed assets includes £ 391,562 (2023 - £ 412,170 ) in respect of assets held under hire purchase contracts.

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 October 2023
and 30 September 2024 1
NET BOOK VALUE
At 30 September 2024 1
At 30 September 2023 1

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023 5,517,307
Additions 97,216
At 30 September 2024 5,614,523
NET BOOK VALUE
At 30 September 2024 5,614,523
At 30 September 2023 5,517,307

A & M TURNEY LIMITED (REGISTERED NUMBER: 11620619)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 417,169 245,057
Other debtors 504,293 698,936
921,462 943,993

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 66,939
Hire purchase contracts 76,128 26,250
Trade creditors 339,447 657,799
Taxation and social security 135,008 -
Other creditors 957,856 1,400,768
1,508,439 2,151,756

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 40,078
Hire purchase contracts 68,208 26,250
68,208 66,328

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 104,578
Hire purchase contracts 144,336 52,500
144,336 157,078

The hire purchase liabilities are secured on the assets to which they relate.

12. CALLED UP SHARE CAPITAL

Allotted and issued shares
Number: Class: Nominal 2024 2023
value: £ £
551 A Ordinary £1 551 551
550 B Ordinary £1 550 550
314 C Ordinary £1 314 314
157 D Ordinary £1 157 157
5,895,722 Redeemable Preference £1 5,895,722 5,895,722
5,897,294 5,897,294

£437,500 of the Redeemable Preference shares remain unpaid at the balance sheet date. This debt is shown in other debtors. All other shares are fully paid.

A & M TURNEY LIMITED (REGISTERED NUMBER: 11620619)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£    £   
A G Turney (Deceased) and Mrs M B Turney
Balance outstanding at start of year (115,508 ) (15,449 )
Amounts advanced 48,566 28,576
Amounts repaid (3,761 ) (128,635 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (70,703 ) (115,508 )

R A Turney
Balance outstanding at start of year 26,259 -
Amounts advanced 61,185 177,638
Amounts repaid (504,682 ) (151,379 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (417,238 ) 26,259

Ms J M Turney
Balance outstanding at start of year (910,754 ) (61,984 )
Amounts advanced 855,213 4,830
Amounts repaid (4,050 ) (853,600 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (59,591 ) (910,754 )

Included in creditors is an amount of £547,532 (2023 : £1,026,262) lent to the company by the directors. This loan was unsecured, interest free and repayable on demand.

Interest is charged at the HMRC official rate of interest.

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
A & M TURNEY LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of A & M Turney Limited for the year ended 30 September 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of A & M Turney Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of A & M Turney Limited and state those matters that we have agreed to state to the Board of Directors of A & M Turney Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that A & M Turney 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 A & M Turney Limited. You consider that A & M Turney Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of A & M Turney 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.






Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ


Date: .............................................