| REGISTERED NUMBER: |
| JOSEPH TURNER LTD |
| ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| REGISTERED NUMBER: |
| 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: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Heritage House |
| Murton Way |
| Osbaldwick |
| York |
| North Yorkshire |
| YO19 5UW |
| BANKERS: |
| 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 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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 were approved by the Board of Directors and authorised for issue on |
| 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 |
| 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 |
| Motor vehicles | - |
| Warehouse equipment | - |
| Office equipment | - |
| Telephone equipment | - |
| Computer equipment | - |
| 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 |
| 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 |
| Additions |
| Disposals | ( |
) |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| 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. |