Tumer Limited

	Page
Company Information	1
Strategic Report	2—3
Directors' Report	4—5
Independent Auditor's Report	6—9
Profit and Loss Account	10
Statement of Comprehensive Income	11
Balance Sheet	12
Statement of Changes in Equity	13
Statement of Cash Flows	14
Notes to the Statement of Cash Flows	15
Notes to the Financial Statements	16—20

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Tumer Limited

Strategic Report

For The Year Ended 28 February 2025

Strategic Report

The directors present their strategic report for the year ended 28 February 2025.

Review of the Business

The company delivered exceptional performance during the year, benefitting from a significant transformation of the

business in the previous period, leading to growth in revenue.

Key factors underpinning our success included our agile supply chain management, deep-rooted international partnerships, and strategic market positioning.

The directors are satisfied with the company's financial position , with Shareholders' funds totalling £ 808,033 (2024 : £ 352,833).

The operating profit of £ 674,842 ( 2024: £ 319,095 ) reflects a stable trading environment with little fluctuation in raw material prices through the year.

Business Strategy

The Company's strategy is to remain being a profitable business. This will be achieved by securing further long term contracts with both existing and new customers both within the Company's existing market and through expansion into new markets.

To support and complement this sales strategy the directors and senior management team are working hard to improve operational performance of the factory by focusing on improving productivity, reducing all types of waste and non - value added activity and improving procurement for materials , goods and services.

The importance of customer service is recognised by the Company's focus on product quality and delivery performance. Finally the importance of providing safe working environment is a key focus and responsibility for all employees of the Company.

Financial Key Performance Indicators

	2025	2024
	£	£
Turnover	44,639,271	38,219,259
Gross profit	748,165	363,795
Operating profit	674,842	319,095

Principal Risks and Uncertainties

The principal risks and uncertainties affecting the business include:-

- Retention of customers - the company maintains strong relationships with each of its key customers and has established

procedures for monitoring performance and service levels.

- Competitive risk - the company offers a range of products to meet the demands of its customer base. Its cost base is

kept under constant review to ensure it is efficient.

- Market conditions - the company's ability to adapt quickly to changes in the marketplace mitigates the risk of this area.

- Exchange rate risk - the company has exchange risk on imports and exports. The director monitors trading and the

exposure to such risk and takes action needed to hedge such risk.

.- Resources risk - the director believes that the company has adequate financial resources in place to meet its forecast

trading requirements and all risks and uncertainties are managed appropriately.

-The principal risks and uncertainties facing the company are broadly grouped as competitive, price, credit, liquidity, and currency and impact of war in Ukraine more generally the evolution of geopolitical major trends.

Competitive

The Company has a number of multi - year contracts in place with key customers. Whilst future renewal is not guaranteed the company believe their financial and service performance stand them in good stead when any renewal becomes due.

Price

The Company is exposed to fluctuations in commodity prices. The Company manages this risk through maintaining a broad range of suppliers and the regular review of marketplace commodity prices and existing supply relationships and agreements.

Credit

Credit risk is the risk that one party to a financial instrument will cause a financial loss for that other party by failing to discharge an obligation. Company policies are aimed at minimising such losses, and require that deferred terms are only granted to customers who demonstrate an appropriate payment history and satisfy credit worthiness procedures. Details of the company's debtors are shown in Note 7 to the financial statements.

...CONTINUED

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Tumer Limited

Strategic Report (continued)

For The Year Ended 28 February 2025

Principal Risks and Uncertainties - continued

Liquidity

Liquidity risk is the risk of difficulty in meeting obligations associated with financial liabilities. The company aims to mitigate this risk through effective working capital management and cash collection policies.

Currency

The company trades predominately in the United Kingdom.

Impact of War in Ukraine

The effects of the conflict in Ukraine and the energy crisis represent additional uncertainty regarding global impacts on raw material costs, availability and energy costs. It is too early to comment on the effects of this latest conflict, but oil and gas prices are rising again. To date, it is impossible to estimate how long they will last, so it is not currently possible to assess all the potential implications for trade, customers, suppliers of the company and for economy in general. The exact risk assessment resulting from the above is currently not quantifiable and depends on its further evolution, which management is closely monitoring.

Future Developments

Following the strategic repositioning undertaken in recent years, the company has successfully restored trading activity to new record levels. This recovery reflects both the resilience of our business model and the effectiveness of our operational adjustments. The board remains confident in the company's capacity to deliver sustained growth within its sector, supported by strengthened market foundations and enhanced operational capabilities.

Financial Instruments

The company's principal financial instruments comprise bank loans, cash at bank, trade debtors and trade creditors. The main purpose of these instruments is to finance the company's operations.

Due to the nature of the financial instruments, there is no material exposure to price risk.

The director's approach to managing other risks applicable to the financial instruments is set out below.

Credit risk

The company's principal financial assets are bank balanes and trade debtors. The credit rik associated with bank balances is limited as the counterparties have high credit ratings assigned by international credit rating agencies.

The principal credit risk arises from trade debtors. In order to manage credit risk, the directors set limits for customers based on a combination of payment history and third party credit references. Credit limits are reviewed on a regular basis.

Liquidity risk

In order to maintain liquidity and to ensure sufficiet funds are available for ongoing operations and future developments, the compny uses a mixture of short term and long term finance.

Further details are disclosed in note relating to Creditors.

Interest rate risk

The company is exposed to interest rate risk on its bank loan which is charged at fixed rate of 8.5%. The directors monitor interest rate movements and consider the need for hedging.

On behalf of the board

Mr F TUMER

Director

28/11/2025

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Tumer Limited

Company No. 13929293

Directors' Report For The Year Ended 28 February 2025

Directors' Report

The directors present their report and the financial statements for the year ended 28 February 2025.

Principal Activity

The company's principal activity continues to be that of wholesale of furniture, carpets and lighting equipment.

Dividends

No dividends will be distributed in the year ended 28 February 2025 (2024: £ Nil).

Political Donations and Expenditure

No political donations were made during the year.

Directors

The directors who held office during the year were as follows:

Mr F TUMER
Ms T Eva	Appointed	01/11/2025

Matters covered in the Strategic Report

Disclosures required under s416(4) of the Companies Act 2006 are commented upon in the Strategic Report as the directors consider them to be of strategic importance to the business.

Statement of Directors' Responsibilities

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

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Tumer Limited

Directors' Report (continued)

For The Year Ended 28 February 2025

Independent Auditors

The auditors, Andertons Europe Limted ( Statutory Auditors), have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Mr F TUMER

Director

28/11/2025

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Independent Auditor's Report

to the Members of

Tumer Limited

Independent Auditor's Report

Opinion

We have audited the revised financial statements of Tumer Limited for the year ended 28 February 2025 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". These revised financial statements replace the original financial statements approved by the directors on 28 November 2025.

The revised financial statements have been prepared in accordance with The Companies (Revision of Defective Accounts and Reports) Regulations 2008 and as such do not consider events which have taken place after the date on which the original financial statements were approved.

In our opinion the revised financial statements:

give a true and fair view of the state of the company's affairs as at 28 February 2025 and of its profit/(loss) for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006 as they have effect under the Companies (Revision of Defective Accounts and Reports) Regulations 2008.

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions Relating to Going Concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

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Independent Auditor's Report (continued)

to the Members of

Tumer Limited

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records or returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 4—5, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

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Independent Auditor's Report (continued)

to the Members of

Tumer Limited

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud

and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities

and skills to identify or recognise non-compliance with applicable laws and regulations;

-we identified the laws and regulations applicable to the company through discussions with the director and other

management, and from our commercial knowledge and experience of the company's sector;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial

statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection,

employment, health and safety legislation.

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of

management and inspecting legal correspondence where necessary.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an

understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of

actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected transactions;

- tested the appropriateness of journal entries;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of

potential bias; and

- investigated the rationale behind significant or unusual transactions.

To address the risk that revenue could be misstated due to fraud. we:

- obtained an understanding of the company's revenue recognition policies and compared these to the accounting

standard;

- performed a walkthrough to confirm our understanding of the processes and controls through which the business

initiates, records, processes and reports revenue transactions;

- tested a sample of revenue transactions to supporting evidence; and

- tested, on a sample basis, revenue related balances in the balance sheet.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which

included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC and relevant regulators.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are

from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also

limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the director and

other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve

deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting

Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors

Use Of Our Report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

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Independent Auditor's Report (continued)

to the Members of

Tumer Limited

Naresh Jani (Senior Statutory Auditor)

for and on behalf of Andertons Europe Limted ( Statutory Auditors) , Statutory Auditor

28/11/2025

Andertons Europe Limted ( Statutory Auditors)

1st Floor Mezzanine

35-37 Ludgate Hill

London

EC4M 7JN

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Tumer Limited

Profit and Loss Account

For The Year Ended 28 February 2025

Profit and Loss Account

		2025	2024
	Notes	£	£
TURNOVER	5	44,639,271	38,219,259
Cost of sales		(43,891,106 )	(37,855,464 )

GROSS PROFIT		748,165	363,795

Administrative expenses		(73,323 )	(44,700 )

OPERATING PROFIT		674,842	319,095
Interest payable and similar charges	8	(67,909 )	(29,455 )

PROFIT BEFORE TAXATION		606,933	289,640
Tax on Profit	9	(151,733 )	(70,938 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		455,200	218,702

The notes on pages 15 to 20 form part of these financial statements.

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Tumer Limited

Statement of Comprehensive Income

For The Year Ended 28 February 2025

Statement of Comprehensive Income

	2025	2024
	£	£
PROFIT FOR THE FINANCIAL YEAR	455,200	218,702
OTHER COMPREHENSIVE INCOME FOR THE YEAR	-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR	455,200	218,702

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Tumer Limited

Balance Sheet

As At 28 February 2025

Balance Sheet

		2025		2024
	Notes	£	£	£	£
CURRENT ASSETS
Debtors	10	19,343,580		14,243,625
Cash at bank and in hand		201,371		769,540

		19,544,951		15,013,165
Creditors: Amounts Falling Due Within One Year	11	(18,736,918 )		(14,660,332 )

NET CURRENT ASSETS (LIABILITIES)			808,033		352,833

TOTAL ASSETS LESS CURRENT LIABILITIES			808,033		352,833

NET ASSETS			808,033		352,833

CAPITAL AND RESERVES
Called up share capital	12		100		100
Profit and Loss Account			807,933		352,733

SHAREHOLDERS' FUNDS			808,033		352,833

On behalf of the board

Mr F TUMER

Director

28/11/2025

The notes on pages 15 to 20 form part of these financial statements.

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Tumer Limited

Statement of Changes in Equity

For The Year Ended 28 February 2025

Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 March 2023	100	134,031	134,131
Profit for the year and total comprehensive income	-	218,702	218,702

As at 28 February 2024 and 29 February 2024	100	352,733	352,833


Profit for the year and total comprehensive income	-	455,200	455,200

As at 28 February 2025	100	807,933	808,033

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Tumer Limited

Statement of Cash Flows

For The Year Ended 28 February 2025

Statement of Cash Flows

		2025	2024
	Notes	£	£
Cash flows from operating activities
Net cash (used in)/generated from operations	1	(715,378 )	169,573
Interest paid		(67,909 )	(29,455 )
Tax paid		(70,938 )	(31,439 )

Net cash (used in)/generated from operating activities		(854,225 )	108,679

Cash flows from financing activities
Proceeds from new bank borrowings		300,000	300,000
Amount introduced by directors		230,400	-
Amount withdrawn by directors		(250,400)	-

Net cash generated from financing activities		280,000	300,000



(Decrease)/increase in cash and cash equivalents		(574,225 )	408,679
Cash and cash equivalents at beginning of year	2	769,540	361,046
Foreign exchange gains/(losses) on cash and cash equivalents		6,056	(185 )

Cash and cash equivalents at end of year	2	201,371	769,540

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Tumer Limited

Notes to the Statement of Cash Flows

For The Year Ended 28 February 2025

Notes to the Statement of Cash Flows

1. Reconciliation of profit for the financial year to cash (used in)/generated from operations

	2025	2024
	£	£
Profit for the financial year	455,200	218,702
Adjustments for:
Tax on profit	151,733	70,938
Interest expense	67,909	29,455
Foreign exchange (gains)/losses	(6,056)	185
Movements in working capital:
Increase in trade and other debtors	(5,099,955 )	(10,569,497 )
Increase in trade and other creditors	3,715,791	10,419,790

Net cash (used in)/generated from operations	(715,378 )	169,573

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2025	2024
	£	£
Cash at bank and in hand	201,371	769,540

3. Analysis of changes in net funds/(debt)

	As at 29 February 2024	Cash flows	As at 28 February 2025
	£	£	£
Cash at bank and in hand	769,540	(568,169)	201,371
Debts falling due within one year	(600,000 )	(300,000)	(900,000 )

	169,540	(868,169)	(698,629)

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Tumer Limited

Notes to the Financial Statements

For The Year Ended 28 February 2025

Notes to the Financial Statements

1. Revision by Replacement

The financial statements for the year ended 28 February 2025 have been revised.

These financial statements:

replace the original financial statements;
are now the statutory financial statements;
have been prepared as at the date of the original financial statements, and not as at the date of the revision and accordingly do not deal with events between those dates.

There are no significant amendments to the original accounts.

2. General Information

Tumer Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13929293 . The registered office is 65 Broadway, London, E15 4BQ.

3. Statement of Compliance

The financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

4. Accounting Policies

4.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention.

4.2. Going Concern Disclosure

The director has assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The director has made this assessment in respect to a period of at least twelve months from when the financial statements are authorised for issue.

The director has concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as going concern. The director is of the opinion that the company will have sufficient resources to meet its liabilities as they fall due.

4.3. Significant judgements and estimations

Tangible fixed assets

Fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation and product life cycles are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Stock provision

Stock is valued at the lower of cost and net realisable value. Management is required to consider the net realisable value of stock and whether an impairment is appropriate. When calculating the stock impairment provision, management considers the nature, condition, ageing and expiry date of stock, as well as applying assumptions around anticipated saleability of finished goods and future usage of raw materials.

Bad debt provision

The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

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Tumer Limited

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2025

4.4. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services 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 incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

4.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

No lease was held by the company for the year ended 28 February 2025 (2024: None).

4.6. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

4.7. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

4.8. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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Tumer Limited

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2025

4.9. Provisions and Contingencies

Provisions

Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as a finance cost.

Contingencies

Contingent liabilities are not recognised. Contingent liabilities arise as a result of past events when (i) it is not probable that there will be an outflow of resources or that the amount cannot be reliably measured at the reporting date or (ii) when the existence will be confirmed by the occurrence or non-occurrence of uncertain future events not wholly within the company’s control. Contingent liabilities are disclosed in the financial statements unless the probability of an outflow of resources is remote.

Contingent assets are not recognised. Contingent assets are disclosed in the financial statements when an inflow of economic benefits is probable.

4.10. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

For the year ended 28 Feb 2025, no pension scheme was held as there was no PAYE scheme in place.

4.11. Debtors and creditors

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

5. Turnover

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

6. Auditor's Remuneration

Remuneration received by the company's auditors and their associates during the year was as follows:

	2025	2024
	£	£
Audit Services
Audit of the company's financial statements	5,000	4,500

7. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

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Tumer Limited

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2025

8. Interest Payable and Similar Charges

	2025	2024
	£	£
Bank loans and overdrafts	67,909	29,455

9. Tax on Profit

The tax charge on the profit for the year was as follows:

	Tax Rate		2025	2024
	2025	2024	£	£
Current tax
UK Corporation Tax	25.0%	25.0%	151,733	70,938


Total tax charge for the period			151,733	70,938

The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:

	2025	2024
	£	£
Profit before tax	606,933	289,640

Tax on profit at 25% (UK standard rate)	151,733	70,938
Total tax charge for the period	151,733	70,938

10. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	19,343,580	14,047,189
Other debtors	-	196,436

	19,343,580	14,243,625

11. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	17,379,756	13,684,159
Bank loans and overdrafts	900,000	600,000
Other creditors	230,400	292,935
Corporation tax	151,733	70,938
Taxation and social security	21,629	-
Accruals and deferred income	53,400	12,300

	18,736,918	14,660,332

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Tumer Limited

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2025

12. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
100 Ordinary Shares of £ 1.00 each	100	100

13. Credit Risk

14. Contingent Liabilities

There were no contingent liabilities at either the beginning or the end of the financial year.

15. Capital Commitments

At the end of the period, the company had no capital commitments contracted for but not provided in these financial statements.

16. Related Party Disclosures

At year end the company owed £ 230,400 (2024: £ 250,400) to Mr F Tumer.

This loan is interest free,unsecured and repayable on demand.

17. Controlling Parties

Mr F Tumer controls the company by virtue of holding 100 % of the issued share capital and voting rights.

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