Registration number: 01744393

O Turner Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 6

O Turner Limited

(Registration number: 01744393)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	359,996	286,792
Current assets
Stocks	5	48,683	55,277
Debtors	6	783,505	923,544
Cash at bank and in hand		1,226,670	1,582,467
		2,058,858	2,561,288
Creditors: Amounts falling due within one year	7	(722,306)	(1,216,645)
Net current assets		1,336,552	1,344,643
Total assets less current liabilities		1,696,548	1,631,435
Provisions for liabilities		(41,777)	(22,741)
Net assets		1,654,771	1,608,694
Capital and reserves
Called up share capital	8	10,000	10,000
Retained earnings		1,644,771	1,598,694
Shareholders' funds		1,654,771	1,608,694

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 August 2025 and signed on its behalf by:
 

......................................... D Turner Director

O Turner Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The Company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
Estate Road No 4
South Humberside Industrial Estate
Grimsby
North East Lincolnshire
DN31 2TB

These financial statements were authorised for issue by the Board on 28 August 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling and are rounded to the nearest pound.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

O Turner Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Land and buildings	1% on cost
Plant and machinery	15% on written down value
Office equipment	15% on written down value
Computer equipment	20% Straight line
Motor vehicles	55% on written down value

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

O Turner Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 18 (2024 - 19).

O Turner Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	281,389	199,285	217,055	697,729
Additions	-	-	121,065	121,065
Disposals	-	(63,204)	(70,488)	(133,692)
At 31 March 2025	281,389	136,081	267,632	685,102
Depreciation
At 1 April 2024	87,647	192,026	131,264	410,937
Charge for the year	2,814	1,083	37,752	41,649
Eliminated on disposal	-	(62,821)	(64,659)	(127,480)
At 31 March 2025	90,461	130,288	104,357	325,106
Carrying amount
At 31 March 2025	190,928	5,793	163,275	359,996
At 31 March 2024	193,742	7,259	85,791	286,792

Included within the net book value of land and buildings above is £190,928 (2024 - £193,742) in respect of leasehold land and buildings.
 

5

Stocks

	2025 £	2024 £
Raw materials and consumables	48,683	55,277

6

Debtors

Current	2025 £	2024 £
Trade debtors	544,527	691,026
Prepayments	78,687	74,755
Other debtors	160,291	157,763
	783,505	923,544

O Turner Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	545,505	1,034,569
Taxation and social security	47,365	119,496
Accruals and deferred income	43,230	21,600
Other creditors	86,206	40,980
	722,306	1,216,645

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	10,000	10,000	10,000	10,000

9	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2025 £	2024 £
Not later than one year	-	7,506
Later than one year and not later than five years	120,946	63,592
	120,946	71,098

The amount of non-cancellable operating lease payments recognised as an expense during the year was £42,635 (2024 - £47,075).