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REGISTRAR OF COMPANIES

Registration number: 08578711

Phillipa Turnbull Events Ltd

Unaudited Financial Statements

30 November 2024

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Phillipa Turnbull Events Ltd

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

4

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Phillipa Turnbull Events Ltd
for the Year Ended 30 November 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Phillipa Turnbull Events Ltd for the year ended 30 November 2024 as set out on pages 2 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Phillipa Turnbull Events Ltd, as a body, in accordance with the terms of our engagement letter dated 16 April 2024. Our work has been undertaken solely to prepare for your approval the accounts of Phillipa Turnbull Events Ltd and state those matters that we have agreed to state to the Board of Directors of Phillipa Turnbull Events Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Phillipa Turnbull Events Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Phillipa Turnbull Events Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Phillipa Turnbull Events Ltd. You consider that Phillipa Turnbull Events Ltd 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 accounts of Phillipa Turnbull Events Ltd. 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 accounts.



Dodd & Co Limited
Chartered Accountants
Clint Mill
Cornmarket
PENRITH
CA11 7HW

6 June 2025

 

Phillipa Turnbull Events Ltd

(Registration number: 08578711)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

138,705

136

Tangible assets

5

28,776

19,529

Investments

6

35,260

19,308

 

202,741

38,973

Current assets

 

Stocks

37,923

29,300

Debtors

7

161,421

104,984

Cash at bank and in hand

 

357,832

195,938

 

557,176

330,222

Creditors: Amounts falling due within one year

8

(525,718)

(290,852)

Net current assets

 

31,458

39,370

Total assets less current liabilities

 

234,199

78,343

Creditors: Amounts falling due after more than one year

8

(125,625)

-

Provisions for liabilities

(24,224)

(3,201)

Net assets

 

84,350

75,142

Capital and reserves

 

Allotted, called up and fully paid share capital

100

100

Profit and loss account

84,250

75,042

Total equity

 

84,350

75,142

 

Phillipa Turnbull Events Ltd

(Registration number: 08578711)
Balance Sheet as at 30 November 2024 (continued)

For the financial year ending 30 November 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 and 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 6 June 2025 and signed on its behalf by:
 

.........................................

P M D Turnbull

Director

 

Phillipa Turnbull Events Ltd

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

1

General information

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

The address of its registered office is:
Pembroke House
1 Clifford Street
APPLEBY-IN-WESTMORLAND
CA16 6TS

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Revenue recognition

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Phillipa Turnbull Events Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

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.

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

Land and buildings

10% straight line basis

Furniture, fittings and office equipment

15% reducing balance basis, 33% straight line basis and 20% straight line basis

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Website intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Trade marks

10% straight line basis

Website

20% straight line basis

 

Phillipa Turnbull Events Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

Investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

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 the sale of goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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 where due after more than one year.

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.

 

Phillipa Turnbull Events Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 4).

 

Phillipa Turnbull Events Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

4

Intangible assets

Trademarks, patents and licenses
 £

Website
 £

Total
£

Cost or valuation

At 1 December 2023

340

-

340

Transfers

-

8,395

8,395

Additions

-

134,988

134,988

At 30 November 2024

340

143,383

143,723

Amortisation

At 1 December 2023

204

-

204

Amortisation charge

34

4,780

4,814

At 30 November 2024

238

4,780

5,018

Carrying amount

At 30 November 2024

102

138,603

138,705

At 30 November 2023

136

-

136

 

Phillipa Turnbull Events Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

5

Tangible assets

Land and buildings
£

Furniture, fittings and office equipment
 £

Total
£

Cost or valuation

At 1 December 2023

6,375

41,582

47,957

Additions

-

21,744

21,744

Disposals

-

(10,566)

(10,566)

Transfers

-

(8,395)

(8,395)

At 30 November 2024

6,375

44,365

50,740

Depreciation

At 1 December 2023

3,559

24,869

28,428

Charge for the year

637

3,465

4,102

Eliminated on disposal

-

(10,566)

(10,566)

At 30 November 2024

4,196

17,768

21,964

Carrying amount

At 30 November 2024

2,179

26,597

28,776

At 30 November 2023

2,816

16,713

19,529

6

Investments

2024
£

2023
£

Investments

35,260

19,308

7

Debtors

2024
£

2023
£

Trade debtors

41,638

3,917

Other debtors

119,783

101,067

161,421

104,984

 

Phillipa Turnbull Events Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

8

Creditors

2024
£

2023
£

Due within one year

 

Trade creditors

 

18,825

22,377

Taxation and social security

 

23,499

10,429

Corporation tax liability

 

-

3,613

Other creditors

 

483,394

254,433

 

525,718

290,852

Due after one year

 

Other creditors

 

125,625

-

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £34,400 (2023 - £44,000). These are in respect of a rental lease.

 

Phillipa Turnbull Events Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

10

Related party transactions

Transactions with directors

2024

At 1 December 2023
£

Advances
£

Repayments
£

Other payments
£

Dividends credited
£

Interest
£

At 30 November 2024
£

L M Turnbull

Loan

12,041

27,204

(52)

-

(24,500)

255

14,948

               
         

P M D Turnbull

Loan

35,224

37,747

(12,478)

-

(25,500)

733

35,726

               
         

 

2023

At 1 December 2022
£

Advances
£

Repayments
£

Other payments
£

Dividends credited
£

Interest
£

At 30 November 2023
£

L M Turnbull

Loan

-

39,386

(2,054)

-

(25,461)

170

12,041

               
         

P M D Turnbull

Loan

16,465

48,383

(3,666)

-

(26,500)

542

35,224

               
         

 

Directors' advances are repayable on demand.

Interest has been charged at 2.25% on advances to directors.