R J Turner Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

R J Turner Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12014390 . The registered office is Walton Hurst Farm, Eccleshall, Stafford, Staffordshire, ST21 6JS.

2. Accounting Policies

2.1. Basis of Preparation of 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of crops and livestock are recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on despatch of the goods.

Contract income

Turnover from contracting is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurre for work performed to date to the total esitmated contract costs. Turnover is only recognised to the extent of recoverable expenses when then outcome of a contract cannot be estimated reliably.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

Rent

Rental income is recognised using the accrual model.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided at the following rates in order to write off each asset over its estimated useful life.

Improvements to property	- 10% on cost
Plant & Machinery	- 25% and 15% on reducing balance
Motor Vehicles	- 25% and 15% on reducing balance
Fixtures & Fittings	- 15% on reducing balance
Computer Equipment	- 20% on reducing balance

2.4. Leasing and Hire Purchase Contracts

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

2.5. Stocks and Work in Progress

Stocks are valued at the lower of cost and net realisable value using other accepted conventions to arrive at deemed cost where actual costs are not accurately ascertainable, after making allowance for obsolete and slow moving items.

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R J Turner Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.6. Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

2.7. Debtors and creditors receivable / payable within one year Debtors and credit

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2024: 3)

4. Tangible Assets

	Land & Property
	Improvements to property	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 April 2024	77,233	119,123	201,237	713
Additions	1,650	-	45,035	-

As at 31 March 2025	78,883	119,123	246,272	713

Depreciation
As at 1 April 2024	5,611	56,081	58,630	347
Provided during the period	3,206	10,016	33,195	133

As at 31 March 2025	8,817	66,097	91,825	480

Net Book Value
As at 31 March 2025	70,066	53,026	154,447	233

As at 1 April 2024	71,622	63,042	142,607	366

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R J Turner Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025


	Computer Equipment	Total
	£	£
Cost
As at 1 April 2024	2,773	401,079
Additions	-	46,685

As at 31 March 2025	2,773	447,764

Depreciation
As at 1 April 2024	1,372	122,041
Provided during the period	515	47,065

As at 31 March 2025	1,887	169,106

Net Book Value
As at 31 March 2025	886	278,658

As at 1 April 2024	1,401	279,038

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2025	2024
	£	£
Motor Vehicles	147,453	133,843

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	5,655	9,419
Prepayments and accrued income	31,242	1,878
Other debtors	331	331
Corporation tax recoverable assets	5,063	-
VAT	8,994	4,638
Directors' loan accounts	81,396	59,601

	132,681	75,867

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	19,066	14,030
Trade creditors	90,631	89,275
Bank loans and overdrafts	121,202	101,198
Corporation tax	13,431	9,154
Other creditors	1,812	-
Accruals and deferred income	5,188	3,678

	251,330	217,335

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R J Turner Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	63,102	42,100
Bank loans	171,159	194,051

	234,261	236,151

Of the creditors falling due after more than one year the following amounts are due after more than five years.

	2025		2024
	£		£
Bank loans	128,661		141,548

8. Secured Creditors

Of the creditors the following amounts are secured.

	2025		2024
	£		£
Bank loans and overdrafts	292,361		295,249

9. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
55 Ordinary A shares of £ 1.00 each	55	55
26 Ordinary B shares of £ 1.00 each	26	26
19 Ordinary C shares of £ 1.00 each	19	19

	100	100

10. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 April 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2025
	£	£	£	£	£
Mr Richard Turner	59,601	21,795	-	-	81,396

The above loan is provided at an interest rate of 2.25% and is repayable on demand.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		278,658		279,038

			278,658		279,038
CURRENT ASSETS
Stocks		114,857		151,230
Debtors	5	132,681		75,867

		247,538		227,097
Creditors: Amounts Falling Due Within One Year	6	(251,330 )		(217,335 )

NET CURRENT ASSETS (LIABILITIES)			(3,792 )		9,762

TOTAL ASSETS LESS CURRENT LIABILITIES			274,866		288,800

Creditors: Amounts Falling Due After More Than One Year	7		(234,261 )		(236,151 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(39,726 )		(39,518 )

NET ASSETS			879		13,131

CAPITAL AND RESERVES
Called up share capital	9		100		100
Profit and Loss Account			779		13,031

SHAREHOLDERS' FUNDS			879		13,131