Turris Development Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09857566 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2018

FOR

TURRIS DEVELOPMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C J Last

S J Bunce

REGISTERED OFFICE:

Turnpike House

1208/1210 London Road

Leigh on Sea

Essex

SS9 2UA

REGISTERED NUMBER:

09857566 (England and Wales)

ACCOUNTANTS:

Segrave & Partners LLP

Chartered Accountants

Turnpike House

1208/1210 London Road

Leigh on Sea

Essex

SS9 2UA

FIXED ASSETS

Tangible assets

3

102

127

CURRENT ASSETS

Stocks

412,135

250

Debtors

4

200

89,216

Cash at bank

79

112

412,414

89,578

CREDITORS

Amounts falling due within one year

5

425,493

91,772

NET CURRENT LIABILITIES

(13,079

)

(2,194

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(12,977

)

(2,067

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(12,979

)

(2,069

)

SHAREHOLDERS' FUNDS

(12,977

)

(2,067

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 22 August 2019 and were signed on its behalf by:

C J Last - Director

S J Bunce - Director

1.	STATUTORY INFORMATION

Turris Development 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tools and equipment

-

20% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

3.	TANGIBLE FIXED ASSETS

Tools and

equipment

£

COST

At 1 December 2017

and 30 November 2018

199

DEPRECIATION

At 1 December 2017

72

Charge for year

25

At 30 November 2018

97

NET BOOK VALUE

At 30 November 2018

102

At 30 November 2017

127

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

-

200

Tax

-

828

Prepayments

200

88,188

200

89,216

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Directors' current accounts

424,113

90,272

Accrued expenses

1,380

1,500

425,493

91,772

6.	RELATED PARTY DISCLOSURES

Included within subcontractor costs are payments of £1,670 (2017 : nil) to Mr S Bunce who is a director and

shareholder of Turris Development Ltd.

7.	GOING CONCERN

At 30th November 2018 the company had a net deficiency of assets of £12,977 (2017: £2,067). The directors

undertake to financially support the company until trading conditions improve. It is therefore deemed appropriate

to prepare the financial statements on the going concern basis.

8.

CHARGE

On 22nd March 2018 a debenture was registered by Mr C J Last, a director of the company. The fixed and

floating charge is in respect of the company assets.