E Turnbull & Son Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 00197063 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

E TURNBULL & SON LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs A J Broadhead

Mr J J Turnbull

Mr B J Broadhead

SECRETARY:

Mrs. B A Turnbull

REGISTERED OFFICE:

Albion Road

North Shields

Tyne and Wear

NE29 0HE

REGISTERED NUMBER:

00197063 (England and Wales)

ACCOUNTANTS:

BK Plus Limited

Chartered Certified Accountants

13 Windsor Terrace

Jesmond

Newcastle upon Tyne

NE2 4HE

BANKERS:

National Westminster Bank Plc

North Shields Branch

Leeds Customer Service Centre

1 Victoria Place

Holbeck

LS11 5AN

FIXED ASSETS

Tangible assets

4

482,884

530,933

Investments

5

-

17,310

Investment property

6

655,000

1,137,884

1,203,243

CURRENT ASSETS

Stocks

5,608

3,450

Debtors

7

65,114

91,903

Cash at bank and in hand

51,152

47,974

121,874

143,327

CREDITORS

Amounts falling due within one year

8

127,383

160,870

NET CURRENT LIABILITIES

(5,509

)

(17,543

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,132,375

1,185,700

CREDITORS

Amounts falling due after more than
one year

9

(12,676

)

(61,708

)

PROVISIONS FOR LIABILITIES

(83,591

)

(92,467

)

NET ASSETS

1,036,108

1,031,525

CAPITAL AND RESERVES

Called up share capital

6,700

Revaluation reserve

11

249,971

Undistributable reserve

11

482,240

475,285

Retained earnings

297,197

299,569

SHAREHOLDERS' FUNDS

1,036,108

1,031,525

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 9 December 2025 and were signed on its behalf by:

Mr B J Broadhead - Director

1.	STATUTORY INFORMATION

E Turnbull & Son 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 net invoiced provision of services, excluding VAT. The income is recognised in the accounts on the date when the service is provided.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

at variable rates on reducing balance

Computer equipment

-

33% on cost

Freehold properties are maintained to a high standard to ensure that their value does not diminish further over time. The maintenance costs are charged to the profit and loss account in the year incurred. In the directors' opinion, depreciation would be immaterial and has therefore not been charged. In arriving at this opinion, an annual inpairment review is undertaken.

Investment property

In accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 no depreciation is provided in respect of freehold properties as investments. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. Such properties are held for investment and not for consumption and the directors consider that to depreciate them would not give a true and fair view. Depreciation is only one of many elements reflected in the annual valuation of properties and accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified and quantified. The directors consider that this policy results in the accounts giving a true and fair view.

Stocks

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

Financial instruments

All financial assets and financial liabilities of the company qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 10 (2024 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST OR VALUATION

At 1 April 2024

406,165

538,316

944,481

Additions

-

430

At 31 March 2025

406,165

538,746

944,911

DEPRECIATION

At 1 April 2024

-

413,548

Charge for year

-

48,479

At 31 March 2025

-

462,027

NET BOOK VALUE

At 31 March 2025

406,165

76,719

482,884

At 31 March 2024

406,165

124,768

530,933

Cost or valuation at 31 March 2025 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

Valuation in 1980

8,999

-

8,999

Valuation in 1981

3,448

-

3,448

Valuation in 1982

9,691

-

9,691

Valuation in 1995

48,750

-

48,750

Valuation in 2014

25,282

-

25,282

Valuation in 2017

21,290

-

21,290

Valuation in 2020

168,750

-

168,750

Cost

119,955

538,746

658,701

406,165

538,746

944,911

If freehold property had not been revalued it would have been included at the following historical cost:

2025

2024

£

Cost

119,955

Freehold land and buildings were valued on an existing use basis on 1 March 2017 by Mcgillvrays Chartered Surveyors .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST OR VALUATION

At 1 April 2024

and 31 March 2025

404,850

DEPRECIATION

At 1 April 2024

302,067

Charge for year

45,681

At 31 March 2025

347,748

NET BOOK VALUE

At 31 March 2025

57,102

At 31 March 2024

102,783

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 April 2024

17,310

Disposals

(17,310

)

At 31 March 2025

-

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

17,310

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

655,000

NET BOOK VALUE

At 31 March 2025

655,000

At 31 March 2024

655,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 1980

22,172

Valuation in 1981

9,282

Valuation in 1984

28,775

Valuation in 1995

70,038

Valuation in 2011

100,000

Valuation in 2014

169,152

Valuation in 2015

9,335

Valuation in 2017

97,918

Valuation in 2018

(20,000

)

Cost

168,328

655,000

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

2025

2024

£

Cost

168,328

Investment properties were valued on existing use basis on 31 March 2024 by the Directors of the Company .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

51,706

59,797

Other debtors

13,408

32,106

65,114

91,903

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Hire purchase contracts

49,031

46,351

Trade creditors

15,854

42,074

Taxation and social security

14,604

16,768

Other creditors

47,894

55,677

127,383

160,870

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2025

2024

£

Hire purchase contracts

12,676

61,708

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Hire purchase contracts

61,707

108,059

Security is given by way of a charge against the relevant assets.

11.

RESERVES

Revaluation

Undistributable

reserve

Totals

£

At 1 April 2024

249,971

475,285

725,256

Reserve transfers

-

6,955

At 31 March 2025

249,971

482,240

732,211

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

Mr B J Broadhead

Balance outstanding at start of year

1,205

-

Amounts advanced

109

1,517

Amounts repaid

(1,518

)

(312

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(204

)

1,205

13.	ULTIMATE CONTROLLING PARTY

The controlling party is the Board of Directors.