Turnstone Property Management Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 00799602 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Turnstone Property Management Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

421,675

448,135

Investments

6

707,160

707,160

1,128,835

1,155,295

CURRENT ASSETS

Stocks

261,000

261,000

Debtors

7

1,245,130

988,418

Cash at bank

15,045

37,902

1,521,175

1,287,320

CREDITORS

Amounts falling due within one year

8

380,559

281,249

NET CURRENT ASSETS

1,140,616

1,006,071

TOTAL ASSETS LESS CURRENT LIABILITIES

2,269,451

2,161,366

CAPITAL AND RESERVES

Called up share capital

1,001

1,001

Retained earnings

2,268,450

2,160,365

2,269,451

2,161,366

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

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 22 December 2023 and were signed by:

J N Gorensweigh - Director

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 (2022 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2022

and 31 March 2023

18,000

AMORTISATION

At 1 April 2022

and 31 March 2023

18,000

NET BOOK VALUE

At 31 March 2023

-

At 31 March 2022

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2022

298,329

608,738

907,067

Additions

12,678

-

12,678

At 31 March 2023

311,007

608,738

919,745

DEPRECIATION

At 1 April 2022

153,989

304,943

458,932

Charge for year

5,967

33,171

39,138

At 31 March 2023

159,956

338,114

498,070

NET BOOK VALUE

At 31 March 2023

151,051

270,624

421,675

At 31 March 2022

144,340

303,795

448,135

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2022

and 31 March 2023

707,160

NET BOOK VALUE

At 31 March 2023

707,160

At 31 March 2022

707,160

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

59,600

223,523

Amounts owed by group undertakings

486,252

525,852

Other debtors

699,278

239,043

1,245,130

988,418

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

39,351

41,657

Amounts owed to group undertakings

215,712

176,894

Taxation and social security

37,263

58,682

Other creditors

88,233

4,016

380,559

281,249