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Registration number: 11333778

Turners of Gt Barton Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Turners of Gt Barton Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Turners of Gt Barton Limited

Company Information

Directors

Mr John Maitland Turner

Mr Matthew James McCarter

Mrs Sarah Elizabeth McCarter

Registered office

Follands The Park
Great Barton
Bury St. Edmunds
IP31 2SU

Accountants

Scrutton Bland Limited
Chartered Accountants
The Long Barn
Fornham Business Court
Fornham St Martin
Bury St Edmunds
Suffolk
IP31 1SL

 

Turners of Gt Barton Limited

(Registration number: 11333778)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

252,730

230,691

Current assets

 

Stocks

4,854

3,725

Debtors

6

152,953

197,510

Cash at bank and in hand

 

225,430

370,290

 

383,237

571,525

Creditors: Amounts falling due within one year

7

(447,167)

(536,695)

Net current (liabilities)/assets

 

(63,930)

34,830

Total assets less current liabilities

 

188,800

265,521

Creditors: Amounts falling due after more than one year

7

(7,992)

(18,774)

Provisions for liabilities

(25,866)

(43,222)

Net assets

 

154,942

203,525

Capital and reserves

 

Called up share capital

8

10

10

Retained earnings

154,932

203,515

Shareholders' funds

 

154,942

203,525

 

Turners of Gt Barton Limited

(Registration number: 11333778)
Balance Sheet as at 30 September 2024

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 June 2025 and signed on its behalf by:
 

.........................................
Mrs Sarah Elizabeth McCarter
Director

 

Turners of Gt Barton Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Follands The Park
Great Barton
Bury St. Edmunds
IP31 2SU
England

These financial statements were authorised for issue by the Board on 16 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The Balance Sheet shows net liabilities of £63,930. However the director has provided loans to the company of £330,155 and has indicated his willingness to continue to support the company. The financial statements have therefore been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Turners of Gt Barton Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Fixtures & fittings

15% reducing balance

Plant & machinery

20% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life . The Goodwill of the company has been fully amortised.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stock consists of fuel and is stated at cost.

 

Turners of Gt Barton Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Trade creditors

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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Turners of Gt Barton Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 34 (2023 - 34).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2023

17,000

17,000

At 30 September 2024

17,000

17,000

Amortisation

At 1 October 2023

17,000

17,000

At 30 September 2024

17,000

17,000

Carrying amount

At 30 September 2024

-

-

 

Turners of Gt Barton Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 October 2023

287

492,198

14,616

507,101

Additions

-

123,621

1,203

124,824

Disposals

-

(46,417)

-

(46,417)

At 30 September 2024

287

569,402

15,819

585,508

Depreciation

At 1 October 2023

153

268,768

7,489

276,410

Charge for the year

26

81,985

1,666

83,677

Eliminated on disposal

-

(27,309)

-

(27,309)

At 30 September 2024

179

323,444

9,155

332,778

Carrying amount

At 30 September 2024

108

245,958

6,664

252,730

At 30 September 2023

134

223,430

7,127

230,691

6

Debtors

Current

2024
£

2023
£

Trade debtors

64,907

119,730

Prepayments

55,354

47,760

Other debtors

32,692

30,020

 

152,953

197,510

 

Turners of Gt Barton Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

340,380

281,878

Trade creditors

 

73,045

25,080

Taxation and social security

 

12,471

12,830

Accruals and deferred income

 

20,693

25,127

Other creditors

 

578

191,780

 

447,167

536,695

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

7,992

18,774

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £0.001 each

10,000

10

10,000

10

         
 

Turners of Gt Barton Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

7,992

18,774

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,225

9,500

Other borrowings

330,155

272,378

340,380

281,878

10

Related party transactions

Other transactions with directors

J M Turner has provided an interest free loan to the company which is repayable upon demand. The amount outstanding at the year end was £330,155 (2023 - £272,378).