Turnabout Limited - Period Ending 2020-11-30

Turnabout Limited

Profit and Loss Account for the Year Ended 30 November 2020

The company has not traded during the year. During this year, the company received no income and incurred no expenditure and therefore made neither profit nor loss.

Turnabout Limited

(Registration number: 06746182)
Balance Sheet as at 30 November 2020

	Note	2020 £	2019 £
Current assets
Debtors	3	1	1
Capital and reserves
Called up share capital	4	1	1
Shareholders' funds		1	1

For the financial year ending 30 November 2020 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant 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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved and authorised by the director on 7 January 2021
 

.........................................

Mrs Susan Turner
Director

Turnabout Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2020

1	General information

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

The address of its registered office is:
191 Lindsey Street
Epping
Essex
CM16 6RF

These financial statements were authorised for issue by the director on 7 January 2021.

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

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities 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.

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.

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.

3

Debtors

	2020 £	2019 £
Other debtors	1	1
	1	1

Turnabout Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2020

4	Share capital

5	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2019 - 0).