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REGISTERED NUMBER: 03353516 (England and Wales)











JOSEPH TURNER LTD

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025






JOSEPH TURNER LTD (REGISTERED NUMBER: 03353516)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025










Page

Company Information 1

Abridged Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


JOSEPH TURNER LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025







DIRECTORS: Sir C J C Legard, Bt.
Mr J A R Cieslik
Ms C E Giles
Mrs O G Lynan
Ms N Howard



SECRETARY: Mrs M M Legard



REGISTERED OFFICE: Concept Park
Thirsk Industrial Park
Thirsk
North Yorkshire
YO7 3NH



REGISTERED NUMBER: 03353516 (England and Wales)



ACCOUNTANTS: UHY Calvert Smith
Chartered Accountants
Heritage House
Murton Way
Osbaldwick
York
North Yorkshire
YO19 5UW



BANKERS: National Westminster Bank plc
27 Yorkersgate
Malton
North Yorkshire
YO17 7AZ

JOSEPH TURNER LTD (REGISTERED NUMBER: 03353516)

ABRIDGED BALANCE SHEET
31 MARCH 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 71,425 117,987

CURRENT ASSETS
Stocks 859,668 844,739
Debtors 317,283 235,829
Cash at bank 1,261,555 1,308,572
2,438,506 2,389,140
CREDITORS
Amounts falling due within one year 1,202,631 1,297,493
NET CURRENT ASSETS 1,235,875 1,091,647
TOTAL ASSETS LESS CURRENT LIABILITIES 1,307,300 1,209,634

PROVISIONS FOR LIABILITIES 5,947 16,173
NET ASSETS 1,301,353 1,193,461

CAPITAL AND RESERVES
Called up share capital 399,241 399,241
Share premium 192,312 192,312
Capital redemption reserve 27,693 27,693
Retained earnings 682,107 574,215
SHAREHOLDERS' FUNDS 1,301,353 1,193,461

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

JOSEPH TURNER LTD (REGISTERED NUMBER: 03353516)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2025


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 June 2025 and were signed on its behalf by:





Mr J A R Cieslik - Director


JOSEPH TURNER LTD (REGISTERED NUMBER: 03353516)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


1. STATUTORY INFORMATION

Joseph Turner Ltd 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 except for certain financial assets and liabilities, including current asset investments and foreign exchange forward contracts, that have been measured at fair value.

Turnover
Turnover represents amounts receivable for the sale of goods, excluding value added tax and trade discounts. Sales are recognised at point of despatch.

Sales orders that are paid for at the time of order are treated as deferred income in the accounts until the point of despatch when the sale is recognised.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% straight line
Warehouse equipment - 25% straight line
Office equipment - 25% straight line
Telephone equipment - 25% straight line
Computer equipment - 33% straight line

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

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

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.

JOSEPH TURNER LTD (REGISTERED NUMBER: 03353516)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Pension costs and other post-retirement benefits
The company contributes to a defined contribution pension scheme. Contributions paid during the year are charged in the profit and loss account. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments at the year end.

Share based payments
The company has issued options to employees under an Enterprise Management Incentive plan.

No expense was recognised on the initial issue in 2019, or in subsequent accounting periods to date, as the fair value of the options granted is not considered to be material to the financial statements.

Financial instruments and derivatives
Derivative financial instruments are recognised at their fair value at the balance sheet date, with any gains or losses being reported in the profit and loss account.

Government grants
Revenue grants are credited to the profit and loss account so as to match them with the expenditure to which they relate.

Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity are recognised in the period in which they become receivable.

Capital grants received towards tangible fixed assets are included in creditors as deferred income and credited to the profit and loss account over the life of the asset.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2024 - 14 ) .

JOSEPH TURNER LTD (REGISTERED NUMBER: 03353516)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2024 432,813
Additions 51,661
Disposals (54,313 )
At 31 March 2025 430,161
DEPRECIATION
At 1 April 2024 314,826
Charge for year 58,149
Eliminated on disposal (14,239 )
At 31 March 2025 358,736
NET BOOK VALUE
At 31 March 2025 71,425
At 31 March 2024 117,987

5. OTHER FINANCIAL COMMITMENTS

The company's total rent commitment at the balance sheet date was £470,000 (2024 - £47,678) in relation to The Concept Park Unit.