ACCOUNTS - Final Accounts

56 TURNERS HILL LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2021-01-01falseProperty development33falsetrue 10974921 2021-01-01 2021-12-31 10974921 2020-01-01 2020-12-31 10974921 2021-12-31 10974921 2020-12-31 10974921 c:Director3 2021-01-01 2021-12-31 10974921 d:CurrentFinancialInstruments 2021-12-31 10974921 d:CurrentFinancialInstruments 2020-12-31 10974921 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 10974921 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 10974921 d:ShareCapital 2021-12-31 10974921 d:ShareCapital 2020-12-31 10974921 d:RetainedEarningsAccumulatedLosses 2021-12-31 10974921 d:RetainedEarningsAccumulatedLosses 2020-12-31 10974921 c:FRS102 2021-01-01 2021-12-31 10974921 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 10974921 c:FullAccounts 2021-01-01 2021-12-31 10974921 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 10974921 2 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure

Registered number: 10974921

56 TURNERS HILL LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2021

56 TURNERS HILL LIMITED

REGISTERED NUMBER: 10974921

BALANCE SHEET

AS AT 31 DECEMBER 2021

		2021		2020
Note		£		£


Current assets
Stocks	4	95,272		67,123
Debtors: amounts falling due within one year	5	74,023		299,063
Cash at bank and in hand		24,604		171,230
		193,899		537,416
Creditors: amounts falling due within one year	6	(15,619)		(365,247)
Net current assets			178,280		172,169
Total assets less current liabilities			178,280		172,169

Net assets			178,280		172,169

Capital and reserves
Called up share capital	100	100
Profit and loss account	178,180	172,069
	178,280	172,169

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 September 2022.

R Flook

Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

56 TURNERS HILL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

1.	General information

56 Tuners Hill Limited is a private company limited by shares, incorporated in England and Wales.
The address of the registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue includes amounts receivable on sale of properties net of VAT, with a sale being recognised on completion.
Rent receivable is recognised in the period for which it relates to. Rent is measured as the fair value
of the consideration receivable, net of VAT and is recognised in Other operating income.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost comprises expenditure incurred directly in developing the stocks to
their current condition.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

Page 2

56 TURNERS HILL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

2.6

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.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.8

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.

2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Employees

The average monthly number of employees, including directors, during the year was 3 (2020 - 3).

4.	Stocks
		2021	2020
		£	£

	Property for resale	95,272	67,123

Page 3

56 TURNERS HILL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

Debtors

					2021	2020
					£	£


Trade debtors	7,000	3,822
Other debtors	67,023	295,241
	74,023	299,063

6.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Trade creditors	6,685	3,242
Corporation tax	1,434	40,362
Other taxation and social security	750	-
Other creditors	-	318,643
Accruals and deferred income	6,750	3,000
	15,619	365,247

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