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Registered number: 11177050
Turnaround 360 Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2025
Clayton Stirling & Co
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11177050
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 53,135 67,929
53,135 67,929
CURRENT ASSETS
Debtors 5 49,614 26,809
Cash at bank and in hand 1,648 -
51,262 26,809
Creditors: Amounts Falling Due Within One Year 6 (80,002 ) (63,827 )
NET CURRENT ASSETS (LIABILITIES) (28,740 ) (37,018 )
TOTAL ASSETS LESS CURRENT LIABILITIES 24,395 30,911
Creditors: Amounts Falling Due After More Than One Year 7 (13,882 ) (12,734 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (10,098 ) (9,554 )
NET ASSETS 415 8,623
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account 315 8,523
SHAREHOLDERS' FUNDS 415 8,623
Page 1
Page 2
For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
R Binyon
Director
20/10/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Turnaround 360 Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11177050 . The registered office is International House, 12 Constance Street, London, E16 2DQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% reducing balance
Fixtures & Fittings 20% reducing balance
Computer Equipment 20% reducing balance
2.4. Taxation
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 years 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 assets reflect 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 1)
1 1
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Page 4
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 February 2024 112,759 58 9,381 122,198
Disposals (487 ) - - (487 )
As at 31 January 2025 112,272 58 9,381 121,711
Depreciation
As at 1 February 2024 49,612 47 4,610 54,269
Provided during the period 12,631 11 1,877 14,519
Disposals (212 ) - - (212 )
As at 31 January 2025 62,031 58 6,487 68,576
Net Book Value
As at 31 January 2025 50,241 - 2,894 53,135
As at 1 February 2024 63,147 11 4,771 67,929
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 45,356 22,056
Other debtors 4,258 4,753
49,614 26,809
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 11,576 2,943
Bank loans and overdrafts - 15,175
Other creditors 64,145 40,832
Taxation and social security 4,281 4,877
80,002 63,827
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 13,882 12,734
Page 4