Company Registration No. 09360508 (England and Wales)
Turner Five Ltd
Unaudited accounts
for the year ended 31 December 2024
Turner Five Ltd
Unaudited accounts
Contents
Turner Five Ltd
Company Information
for the year ended 31 December 2024
Company Number
09360508 (England and Wales)
Registered Office
31 Morley Road
Leyton
London
E10 6LJ
Accountants
Charterwells
Suite 8, 2nd Floor
43-45 High Road
Bushey Heath
WD23 1EE
Turner Five Ltd
Statement of financial position
as at 31 December 2024
Tangible assets
1,534
364,705
Investment property
364,705
-
Cash at bank and in hand
106,604
106,619
Creditors: amounts falling due within one year
(98,251)
(71,495)
Net current assets
17,509
44,178
Total assets less current liabilities
383,748
408,883
Creditors: amounts falling due after more than one year
(418,864)
(418,805)
Net liabilities
(35,116)
(9,922)
Called up share capital
100
100
Profit and loss account
(35,216)
(10,022)
Shareholders' funds
(35,116)
(9,922)
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 16 September 2025 and were signed on its behalf by
Yvonne Turner
Director
Company Registration No. 09360508
Turner Five Ltd
Notes to the Accounts
for the year ended 31 December 2024
Turner Five Ltd is a private company, limited by shares, registered in England and Wales, registration number 09360508. The registered office is 31 Morley Road, Leyton , London, E10 6LJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences.
Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Turner Five Ltd
Notes to the Accounts
for the year ended 31 December 2024
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% RBM
Computer equipment
20% RBM
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2024
364,705
-
-
364,705
Additions
-
1,268
650
1,918
Disposals
(364,705)
-
-
(364,705)
At 31 December 2024
-
1,268
650
1,918
Charge for the year
-
254
130
384
At 31 December 2024
-
254
130
384
At 31 December 2024
-
1,014
520
1,534
At 31 December 2023
364,705
-
-
364,705
At 31 December 2024
364,705
Amounts falling due within one year
Accrued income and prepayments
1,156
1,054
Amounts falling due after more than one year
7
Creditors: amounts falling due within one year
2024
2023
Loans from directors
96,648
69,964
Turner Five Ltd
Notes to the Accounts
for the year ended 31 December 2024
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
418,864
418,805
9
Average number of employees
During the year the average number of employees was 1 (2023: 0).