Turnbull Services Ltd. - Accounts to registrar (filleted)

REGISTERED NUMBER: SC294760 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Turnbull Services Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D J Turnbull

Mrs S R Turnbull

REGISTERED OFFICE:

Keepers Cottage

Troup

Gamrie

Banff

Aberdeenshire

AB45 3JN

REGISTERED NUMBER:

SC294760 (Scotland)

ACCOUNTANTS:

SBP

Accountants

27 Finlayson Street

Fraserburgh

Aberdeenshire

AB43 9JQ

FIXED ASSETS

Tangible assets

4

16,769

8,451

CURRENT ASSETS

Stocks

12,000

19,515

Debtors

5

121,032

89,666

Cash at bank

52,925

14,365

185,957

123,546

CREDITORS

Amounts falling due within one year

6

168,217

92,866

NET CURRENT ASSETS

17,740

30,680

TOTAL ASSETS LESS CURRENT
LIABILITIES

34,509

39,131

CREDITORS

Amounts falling due after more than one year

7

(29,767

)

(36,998

)

PROVISIONS FOR LIABILITIES

(4,055

)

(1,999

)

NET ASSETS

687

134

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

685

132

SHAREHOLDERS' FUNDS

687

134

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

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

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2025 and were signed on its behalf by:

Mr D J Turnbull - Director

1.	STATUTORY INFORMATION

Turnbull Services Ltd. is a private company, limited by shares , registered in Scotland. 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.

Turnover

Turnover represents the amounts (excluding value added tax) derived from the provision of services to customers. Revenue is recognised at the point services are provided.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

33% on cost

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

Stocks

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

Amounts recoverable on contracts

Wok in progress is recognised to the extent that it is probable that economic benefit will flow to the company and when its value can be measured with a sufficient degree of certainty and reliability based on uninvoiced work carried out as at the financial year end.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

COST

At 1 January 2024

29,886

-

14,250

1,391

45,527

Additions

11,317

375

-

11,692

At 31 December 2024

41,203

375

14,250

1,391

57,219

DEPRECIATION

At 1 January 2024

24,876

-

11,262

938

37,076

Charge for year

2,501

52

597

224

3,374

At 31 December 2024

27,377

52

11,859

1,162

40,450

NET BOOK VALUE

At 31 December 2024

13,826

323

2,391

229

16,769

At 31 December 2023

5,010

-

2,988

453

8,451

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

35,301

5,620

Other debtors

21,385

21,031

Directors' current accounts

64,065

63,015

Prepayments

281

-

121,032

89,666

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

10,000

14,724

Trade creditors

52,230

8,583

Tax

91,615

59,568

Social security and other taxes

918

-

VAT

9,576

6,237

Other creditors

1,996

-

Accrued expenses

1,882

3,754

168,217

92,866

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

Bank loans - 1-2 years

10,000

Bank loans - 2-5 years

19,767

26,998

29,767

36,998

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

Mr D J Turnbull

Balance outstanding at start of year

31,507

44,322

Amounts advanced

705

20,211

Amounts repaid

(180

)

(33,026

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

32,032

31,507

Mrs S R Turnbull

Balance outstanding at start of year

31,507

-

Amounts advanced

705

31,507

Amounts repaid

(180

)

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

32,032

31,507

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the directors by virtue of them each holding 50% of the issued share capital of the company.