Turnstone Property Management Limited - Accounts to registrar (filleted) - small 22.3

Turnstone Property Management Limited - Accounts to registrar (filleted) - small 22.3


IRIS Accounts Production v22.3.3.48 00799602 director 1.4.21 31.3.22 31.3.22 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure007996022021-03-31007996022022-03-31007996022021-04-012022-03-31007996022020-03-31007996022020-04-012021-03-31007996022021-03-3100799602ns16:EnglandWales2021-04-012022-03-3100799602ns15:PoundSterling2021-04-012022-03-3100799602ns11:Director12021-04-012022-03-3100799602ns11:PrivateLimitedCompanyLtd2021-04-012022-03-3100799602ns11:SmallEntities2021-04-012022-03-3100799602ns11:AuditExempt-NoAccountantsReport2021-04-012022-03-3100799602ns11:SmallCompaniesRegimeForDirectorsReport2021-04-012022-03-3100799602ns11:SmallCompaniesRegimeForAccounts2021-04-012022-03-3100799602ns11:FullAccounts2021-04-012022-03-310079960212021-04-012022-03-3100799602ns11:RegisteredOffice2021-04-012022-03-3100799602ns6:CurrentFinancialInstruments2022-03-3100799602ns6:CurrentFinancialInstruments2021-03-3100799602ns6:Non-currentFinancialInstruments2022-03-3100799602ns6:Non-currentFinancialInstruments2021-03-3100799602ns6:ShareCapital2022-03-3100799602ns6:ShareCapital2021-03-3100799602ns6:RetainedEarningsAccumulatedLosses2022-03-3100799602ns6:RetainedEarningsAccumulatedLosses2021-03-3100799602ns6:IntangibleAssetsOtherThanGoodwill2021-04-012022-03-3100799602ns6:NetGoodwill2021-03-3100799602ns6:NetGoodwill2022-03-3100799602ns6:NetGoodwill2021-03-3100799602ns6:LandBuildings2021-03-3100799602ns6:PlantMachinery2021-03-3100799602ns6:LandBuildings2021-04-012022-03-3100799602ns6:PlantMachinery2021-04-012022-03-3100799602ns6:LandBuildings2022-03-3100799602ns6:PlantMachinery2022-03-3100799602ns6:LandBuildings2021-03-3100799602ns6:PlantMachinery2021-03-3100799602ns6:CostValuation2021-03-3100799602ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3100799602ns6:WithinOneYearns6:CurrentFinancialInstruments2021-03-31
REGISTERED NUMBER: 00799602 (England and Wales)
























Unaudited Financial Statements for the Year Ended 31 March 2022

for

Turnstone Property Management Limited

Turnstone Property Management Limited (Registered number: 00799602)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Turnstone Property Management Limited

Company Information
for the Year Ended 31 March 2022







DIRECTOR: J N Gorensweigh





REGISTERED OFFICE: Bittern Way
Riverside Industrial Estate
Boston
Lincolnshire
PE21 7NX





REGISTERED NUMBER: 00799602 (England and Wales)





ACCOUNTANTS: KD3 Accountancy Services Ltd
Apex House
7 Park Lane Business Centre
Basford
Nottingham
Nottinghamshire
NG6 0DW

Turnstone Property Management Limited (Registered number: 00799602)

Balance Sheet
31 March 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 448,135 462,639
Investments 6 707,160 707,160
1,155,295 1,169,799

CURRENT ASSETS
Stocks 261,000 315,692
Debtors 7 988,418 1,097,340
Cash at bank 37,902 10,343
1,287,320 1,423,375
CREDITORS
Amounts falling due within one year 8 281,249 586,856
NET CURRENT ASSETS 1,006,071 836,519
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,161,366

2,006,318

CREDITORS
Amounts falling due after more than one
year

9

-

155,039
NET ASSETS 2,161,366 1,851,279

CAPITAL AND RESERVES
Called up share capital 1,001 1,001
Retained earnings 2,160,365 1,850,278
2,161,366 1,851,279

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Turnstone Property Management Limited (Registered number: 00799602)

Balance Sheet - continued
31 March 2022


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 December 2022 and were signed by:





J N Gorensweigh - Director


Turnstone Property Management Limited (Registered number: 00799602)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

Turnstone Property Management 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

Turnstone Property Management Limited (Registered number: 00799602)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2021
and 31 March 2022 18,000
AMORTISATION
At 1 April 2021
and 31 March 2022 18,000
NET BOOK VALUE
At 31 March 2022 -
At 31 March 2021 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2021 298,329 581,006 879,335
Additions - 28,832 28,832
Disposals - (1,100 ) (1,100 )
At 31 March 2022 298,329 608,738 907,067
DEPRECIATION
At 1 April 2021 148,022 268,674 416,696
Charge for year 5,967 36,324 42,291
Eliminated on disposal - (55 ) (55 )
At 31 March 2022 153,989 304,943 458,932
NET BOOK VALUE
At 31 March 2022 144,340 303,795 448,135
At 31 March 2021 150,307 312,332 462,639

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2021
and 31 March 2022 707,160
NET BOOK VALUE
At 31 March 2022 707,160
At 31 March 2021 707,160

Turnstone Property Management Limited (Registered number: 00799602)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade debtors 223,523 292,845
Amounts owed by group undertakings 525,852 565,452
Other debtors 239,043 239,043
988,418 1,097,340

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Bank loans and overdrafts - 79,646
Trade creditors 41,657 48,677
Amounts owed to group undertakings 176,894 376,894
Taxation and social security 58,682 77,623
Other creditors 4,016 4,016
281,249 586,856

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.22 31.3.21
£    £   
Bank loans - 155,039

10. SALE OF OPERATION

During the year the trade and assets of the 'Pots of Fun' operations were sold. Turnstone Property Management Ltd have retained the property that 'Pots of Fun' operate from, and charge monthly rent to the new proprietors.