REGISTERED NUMBER: SC652697 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 January 2025

for

Turner Retail Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Arshad

Mrs S Arshad

REGISTERED OFFICE:

Unit 3

37 Rosyth Road

Morris Park

Glasgow

G 0YE

REGISTERED NUMBER:

SC652697 (Scotland)

ACCOUNTANTS:

KPP Glasgow South Ltd

Chartered Certified Accountants

Unit 3 , 37 Rosyth Road

Morris Park

Glasgow

G5 0YE

FIXED ASSETS

Intangible assets

4

-

12,000

Tangible assets

5

138,717

140,263

138,717

152,263

CURRENT ASSETS

Stocks

6

40,035

48,177

Cash at bank and in hand

170,104

109,305

210,139

157,482

CREDITORS

Amounts falling due within one year

7

69,345

53,704

NET CURRENT ASSETS

140,794

103,778

TOTAL ASSETS LESS CURRENT LIABILITIES

279,511

256,041

PROVISIONS FOR LIABILITIES

26,356

32,260

NET ASSETS

253,155

223,781

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

253,055

223,681

SHAREHOLDERS' FUNDS

253,155

223,781

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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 1 May 2025 and were signed on its behalf by:

M Arshad - Director

1.	STATUTORY INFORMATION

Turner Retail 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of five years.

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

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

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

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 (2024 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2024

and 31 January 2025

60,000

AMORTISATION

At 1 February 2024

48,000

Charge for year

12,000

At 31 January 2025

60,000

NET BOOK VALUE

At 31 January 2025

-

At 31 January 2024

12,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 February 2024

3,324

77,302

112,820

16,607

210,053

Additions

3,847

22,779

5,800

1,049

33,475

At 31 January 2025

7,171

100,081

118,620

17,656

243,528

DEPRECIATION

At 1 February 2024

1,340

35,683

29,021

3,746

69,790

Charge for year

875

9,660

22,399

2,087

35,021

At 31 January 2025

2,215

45,343

51,420

5,833

104,811

NET BOOK VALUE

At 31 January 2025

4,956

54,738

67,200

11,823

138,717

At 31 January 2024

1,984

41,619

83,799

12,861

140,263

6.

STOCKS

31.1.25

31.1.24

£

£

Stocks

40,035

48,177

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Trade creditors

41,793

35,579

Tax

8,637

4,966

Social security and other taxes

978

2,712

VAT

9,939

2,236

Accrued expenses

7,998

8,211

69,345

53,704

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.25

31.1.24

value:

£

£

100

Ordinary

£1

100

100