TURNSTONE PROPERTY MANAGEMENT LIMITED - Accounts

TURNSTONE PROPERTY MANAGEMENT LIMITED - Company Information

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Registered Number : 00799602

England and Wales

TURNSTONE PROPERTY MANAGEMENT LIMITED

Abridged Accounts

Period of accounts

Start date: 01 April 2016

End date: 31 March 2017

TURNSTONE PROPERTY MANAGEMENT LIMITED
Contents Page
For the year ended 31 March 2017

Accountants' Report
Statement of Financial Position
Notes to the Financial Statements

TURNSTONE PROPERTY MANAGEMENT LIMITED Accountants' Report For the year ended 31 March 2017
As described in the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 31 March 2017 and you consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. .................................................... KD3 Financial Consultancy Ltd Unit 7 Apex House Park Lane Business Centre Basford Nottingham NG6 0DW 22 December 2017 1

TURNSTONE PROPERTY MANAGEMENT LIMITED
Accountants' Report
For the year ended 31 March 2017

As described in the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 31 March 2017 and you consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

....................................................
KD3 Financial Consultancy Ltd
Unit 7 Apex House
Park Lane Business Centre
Basford
Nottingham
NG6 0DW
22 December 2017

TURNSTONE PROPERTY MANAGEMENT LIMITED
Statement of Financial Position
As at 31 March 2017

	Notes	2017 £	2016 £
Fixed assets
Intangible fixed assets	2	1,800	3,600
Tangible fixed assets	3	428,205	235,673
Investments	4	567,195	567,195
		997,200	806,468
Current assets
Stocks		424,610	423,577
Debtors		641,025	562,965
Cash at bank and in hand		5,936	84,271
		1,071,571	1,070,813
Creditors: amount falling due within one year		(589,613)	(226,895)
Net current assets		481,958	843,918

Total assets less current liabilities		1,479,158	1,650,386
Creditors: amount falling due after more than one year		(463,397)	(581,497)
Net assets		1,015,761	1,068,889

Capital and reserves
Called up share capital		1,001	1,001
Profit and loss account		1,014,760	1,067,888
Shareholders funds		1,015,761	1,068,889

For the year ended 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small 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
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts

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

The members have agreed to the preparation of abridged accounts.

Signed on behalf of the board of directors

--------------------------------
John Gorensweigh
Director

Date approved by the board: 22 December 2017

TURNSTONE PROPERTY MANAGEMENT LIMITED
Notes to the Abridged Financial Statements
For the year ended 31 March 2017

Statutory Information

TURNSTONE PROPERTY MANAGEMENT LIMITED is a private limited company, limited by shares, domiciled in England and Wales, registration number 00799602.

The presentation currency is £ sterling.

Accounting Policies

Basis of accounting

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Financial Reporting Standard for Smaller Entities (effective January 2016).

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Deferred taxation

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Intangible assets

Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.

Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Computer Equipment	10% Reducing Balance
Land and Buildings	2% Straight Line
Plant and Machinery	10% Reducing Balance

Fixed asset investments

Fixed asset investments are stated at cost less provision for any permanent diminution in value.

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Intangible fixed assets

Cost or Valuation	Goodwill	Total
	£	£
At 01 April 2016	18,000	18,000
Additions	-	-
Disposals	-	-
At 31 March 2017	18,000	18,000
Amortisation
At 01 April 2016	14,400	14,400
Charge for year	1,800	1,800
On disposals	-	-
At 31 March 2017	16,200	16,200
Net book values
At 31 March 2017	1,800	1,800
At 31 March 2016	3,600	3,600

Tangible fixed assets

Cost or Valuation	Land and Buildings	Plant and Machinery	Computer Equipment	Total
	£	£	£	£
At 01 April 2016	298,329	49,976	110,642	458,947
Additions	-	226,162	562	226,724
Disposals	-	-	-	-
At 31 March 2017	298,329	276,138	111,204	685,671
Depreciation
At 01 April 2016	118,189	12,214	92,871	223,274
Charge for year	5,967	26,392	1,833	34,192
On disposals	-	-	-	-
At 31 March 2017	124,156	38,606	94,704	257,466
Net book values
Closing balance as at 31 March 2017	174,173	237,532	16,500	428,205
Opening balance as at 01 April 2016	180,140	37,762	17,771	235,673

Investments

Cost or Valuation	Other investments other than loans	Investments in group undertakings	Total
	£	£	£
At 01 April 2016	567,095	100	567,195
Additions	-	-	-
Disposals	-	-	-
At 31 March 2017	567,095	100	567,195