ACCOUNTS - Final Accounts

56 TURNERS HILL LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-313Property developmenttrue3false2022-01-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true 10974921 2022-01-01 2022-12-31 10974921 2021-01-01 2021-12-31 10974921 2022-12-31 10974921 2021-12-31 10974921 c:Director3 2022-01-01 2022-12-31 10974921 d:CurrentFinancialInstruments 2022-12-31 10974921 d:CurrentFinancialInstruments 2021-12-31 10974921 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10974921 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 10974921 d:ShareCapital 2022-12-31 10974921 d:ShareCapital 2021-12-31 10974921 d:RetainedEarningsAccumulatedLosses 2022-12-31 10974921 d:RetainedEarningsAccumulatedLosses 2021-12-31 10974921 c:FRS102 2022-01-01 2022-12-31 10974921 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 10974921 c:FullAccounts 2022-01-01 2022-12-31 10974921 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 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 2022

56 TURNERS HILL LIMITED

REGISTERED NUMBER: 10974921

BALANCE SHEET

AS AT 31 DECEMBER 2022

		2022		2021
Note		£		£


Current assets
Stocks	4	-		95,272
Debtors: amounts falling due within one year	5	100		74,023
Cash at bank and in hand		49,677		24,604
		49,777		193,899
Creditors: amounts falling due within one year	6	(37,393)		(15,619)
Net current assets			12,384		178,280
Total assets less current liabilities			12,384		178,280

Net assets			12,384		178,280

Capital and reserves
Called up share capital	100	100
Profit and loss account	12,284	178,180
	12,384	178,280

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.

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56 TURNERS HILL LIMITED

REGISTERED NUMBER: 10974921

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2022

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

R Flook

Director

Date: 28 September 2023

The notes on pages 3 to 6 form part of these financial statements.

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56 TURNERS HILL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

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

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.

2.4

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.

2.5

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.

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56 TURNERS HILL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

2.6

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.

2.7

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.

2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

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56 TURNERS HILL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 3 (2021 - 3).

4.	Stocks
		2022	2021
		£	£

	Property for resale	-	95,272

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56 TURNERS HILL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

Debtors

					2022	2021
					£	£


Trade debtors	-	7,000
Other debtors	100	67,023
	100	74,023

6.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Trade creditors	114	6,685
Corporation tax	35,729	1,434
Other taxation and social security	-	750
Accruals and deferred income	1,550	6,750
	37,393	15,619

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