Turner Enterprises (East Devon) Ltd

(Registration number: 15525947)
Balance Sheet as at 31 March 2026

	Note	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	5		213,637		145,426
Current assets
Stocks	6	37,625		31,935
Debtors	7	86,764		70,470
Cash at bank and in hand		93,221		74,864
		217,610		177,269
CREDITORS: Amounts falling due within one year	8	(203,186)		(180,829)
Net current assets/(liabilities)			14,424		(3,560)
Total assets less current liabilities			228,061		141,866
CREDITORS: Amounts falling due after more than one year	8		(73,662)		(24,412)
Provisions for liabilities			(32,636)		(16,558)
Net assets			121,763		100,896
Capital and reserves
Called up share capital	10	100		100
Retained earnings		121,663		100,796
Shareholders' funds			121,763		100,896

For the financial year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Turner Enterprises (East Devon) Ltd

(Registration number: 15525947)
Balance Sheet as at 31 March 2026

Approved and authorised by the director on 2 October 2026
 

......................................... Mr S D Turner Director

Turner Enterprises (East Devon) Ltd

Notes to the Unaudited Financial Statements

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2nd Floor
19 Southernhay West
Exeter
Devon
EX1 1PJ

These financial statements were authorised for issue by the director on 2 October 2026.

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.

Going concern

The financial statements have been prepared on a going concern basis, with management having given due consideration to the company’s ability to continue as a going concern for at least the next twelve months.

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 turnover 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.

Turner Enterprises (East Devon) Ltd

Notes to the Unaudited Financial Statements

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet 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:

Depreciation method and rate for Tangible assets
Asset class	Depreciation method and rate
Furniture, fittings & equipment	20% straight line
Motor vehicles	20% straight line

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.

Turner Enterprises (East Devon) Ltd

Notes to the Unaudited Financial Statements

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 stocks 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Turner Enterprises (East Devon) Ltd

Notes to the Unaudited Financial Statements

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.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

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 the director) during the year, was 14 (2025 - 13).

Turner Enterprises (East Devon) Ltd

Notes to the Unaudited Financial Statements

4

Taxation

Tax charged/(credited) in the profit and loss account

	2026 £	2025 £
Current taxation
UK corporation tax	2,422	32,849
Deferred taxation
Arising from origination and reversal of timing differences	16,078	16,558
Tax expense in the income statement	18,500	49,407

5	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2025	3,331	170,872	174,203
Additions	5,818	113,648	119,466
At 31 March 2026	9,149	284,520	293,669
Depreciation
At 1 April 2025	212	28,565	28,777
Charge for the year	1,422	49,833	51,255
At 31 March 2026	1,634	78,398	80,032
Carrying amount
At 31 March 2026	7,515	206,122	213,637
At 31 March 2025	3,119	142,307	145,426

Turner Enterprises (East Devon) Ltd

Notes to the Unaudited Financial Statements

6

Stocks

	2026 £	2025 £
Other inventories	37,625	31,935

7

Debtors

Current	2026 £	2025 £
Trade debtors	53,822	36,463
Prepayments	25,519	16,697
Other debtors	7,423	17,310
	86,764	70,470

8

CREDITORS

CREDITORS: amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Loans and borrowings	11	14,439	14,525
Trade creditors		117,843	80,124
Taxation and social security		46,536	71,272
Accruals and deferred income		3,814	4,000
Other creditors		20,554	10,908
		203,186	180,829

CREDITORS: amounts falling due after more than one year

	Note	2026 £	2025 £
Due after one year
Loans and borrowings	11	73,662	24,412

Turner Enterprises (East Devon) Ltd

Notes to the Unaudited Financial Statements

9	Provisions for liabilities

	Deferred tax £	Total £
At 1 April 2025	16,558	16,558
Increase (decrease) due to passage of time or unwinding of discount	16,078	16,078
At 31 March 2026	32,636	32,636

10	Share capital

Allotted, called up and fully paid shares

	2026		2025
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

11	Loans and borrowings

Non-current loans and borrowings

	2026 £	2025 £
Bank borrowings	-	1,219
Hire purchase contracts	73,662	23,193
	73,662	24,412

Current loans and borrowings

	2026 £	2025 £
Bank borrowings	1,275	9,899
Hire purchase contracts	13,164	4,626
	14,439	14,525

Turner Enterprises (East Devon) Ltd

Notes to the Unaudited Financial Statements

12	Commitments

Other financial commitments

The total amount of other financial commitments not provided in the financial statements was £208,403 (2025 - £4,112).

13	Related party transactions

Transactions with the director

2026	At 1 April 2025 £	Advances to director £	Repayments by director £	At 31 March 2026 £
Mr S D Turner
	15,021	38,924	(71,848)	(17,903)

2025	At 27 February 2024 £	Advances to director £	Repayments by director £	At 31 March 2025 £
Mr S D Turner
	-	309,518	(294,497)	15,021