Turngiant Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02035395 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

TURNGIANT LIMITED

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

8

DIRECTORS:

D P Dumenil

M J Dumenil

SECRETARY:

M J Dumenil

REGISTERED OFFICE:

May Cottage

May Terrace

Sidmouth

Devon

EX10 8EN

REGISTERED NUMBER:

02035395 (England and Wales)

FIXED ASSETS

Tangible assets

4

322,885

333,393

Investments

5

104,848

Investment property

6

400,000

827,733

838,241

CURRENT ASSETS

Stocks

5,000

Debtors

7

36,761

272,503

Cash at bank and in hand

57,042

37,940

98,803

315,443

CREDITORS

Amounts falling due within one year

8

94,833

159,960

NET CURRENT ASSETS

3,970

155,483

TOTAL ASSETS LESS CURRENT
LIABILITIES

831,703

993,724

CREDITORS

Amounts falling due after more than one
year

9

(11,724

)

(22,315

)

PROVISIONS FOR LIABILITIES

-

(22,333

)

NET ASSETS

819,979

949,076

CAPITAL AND RESERVES

Called up share capital

10

356

Non distributable reserves

11

172,060

-

Retained earnings

11

647,563

948,720

SHAREHOLDERS' FUNDS

819,979

949,076

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2025 and were signed on its behalf by:

D P Dumenil - Director

M J Dumenil - Director

1.	STATUTORY INFORMATION

Turngiant Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents the invoiced value of services supplied by the company.

Tangible fixed assets

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

Freehold property

-

2% on cost

Short leasehold

-

10% on reducing balance

Plant and equipment

-

15% on cost

Office equipment

-

15% on cost

Motor vehicles

-

25% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 Income Statement, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 29 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Short

Plant and

property

leasehold

equipment

£

COST

At 1 January 2024

413,974

96,999

174,595

Disposals

-

At 31 December 2024

413,974

96,999

174,595

DEPRECIATION

At 1 January 2024

89,917

93,933

172,156

Charge for year

8,279

306

480

Eliminated on disposal

-

At 31 December 2024

98,196

94,239

172,636

NET BOOK VALUE

At 31 December 2024

315,778

2,760

1,959

At 31 December 2023

324,057

3,066

2,439

Office

Motor

equipment

vehicles

Totals

£

COST

At 1 January 2024

105,040

45,234

835,842

Disposals

-

(22,384

)

(22,384

)

At 31 December 2024

105,040

22,850

813,458

DEPRECIATION

At 1 January 2024

101,209

45,234

502,449

Charge for year

1,443

-

10,508

Eliminated on disposal

-

(22,384

)

(22,384

)

At 31 December 2024

102,652

22,850

490,573

NET BOOK VALUE

At 31 December 2024

2,388

-

322,885

At 31 December 2023

3,831

-

333,393

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2024

and 31 December 2024

104,848

NET BOOK VALUE

At 31 December 2024

104,848

At 31 December 2023

104,848

Fixed asset investments consist of a collection of classic cars that are being held by the company with a view to realising an investment surplus.

6.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 January 2024

and 31 December 2024

400,000

NET BOOK VALUE

At 31 December 2024

400,000

At 31 December 2023

400,000

Cost or valuation at 31 December 2024 is represented by:

£

Valuation in 2017

62,060

Valuation in 2019

10,000

Valuation in 2020

50,000

Valuation in 2021

40,000

Valuation in 2022

10,000

Cost

227,940

400,000

If the investment properties had not been revalued they would have been included at the following historical cost:

31.12.24

31.12.23

£

Cost

227,940

The investment properties were valued on an open market basis on 31 December 2024 by the directors. .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

34,335

56,578

Other debtors

2,426

215,925

36,761

272,503

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

10,086

9,582

Trade creditors

17,918

30,968

Taxation and social security

4,452

11,780

Other creditors

62,377

107,630

94,833

159,960

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.24

31.12.23

£

Bank loans

11,724

22,315

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

356

ordinary

1

356

11.

RESERVES

Non

Retained

distributable

earnings

reserves

Totals

£

At 1 January 2024

948,720

-

948,720

Deficit for the year

(99,603

)

-

(99,603

)

Dividends

(29,494

)

-

(29,494

)

Transfer to non dist reserves

(172,060

)

172,060

-

At 31 December 2024

647,563

172,060

819,623

12.	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

£

D P Dumenil

Balance outstanding at start of year

8,302

8,340

Amounts advanced

-

242

Amounts repaid

(15,187

)

(280

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(6,885

)

8,302

M J Dumenil

Balance outstanding at start of year

8,301

8,339

Amounts advanced

-

242

Amounts repaid

(15,187

)

(280

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(6,886

)

8,301

Loans to the directors are unsecured, repayable on demand and interest is charged at the approved rate.