The Turner Agency Communications Ltd - Accounts

THE TURNER AGENCY COMMUNICATIONS LTD - Company Information

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Registered Number: 08305762

England and Wales

Unaudited Financial Statements

for the year ended 31 March 2023

for

THE TURNER AGENCY COMMUNICATIONS LTD

The Turner Agency Communications Ltd
Contents Page
For the year ended 31 March 2023

Company information	1
Directors' report	2
Accountants' report	3
Statement of financial position	4
Notes to the financial statements	5
Statement of changes in equity	6

The Turner Agency Communications Ltd
Company Information
For the year ended 31 March 2023

Directors	E M Zutshi J A Lewendon M P Turner
Registered Number	08305762
Registered Office	The Lightbox Willoughby Road Bracknell Berkshire RG12 8FB
Accountants	Sole Associates SVR Limited 3 Park Court Pyrford Road West Byfleet Surrey KT14 6SD

The Turner Agency Communications Ltd
Directors' Report
For the year ended 31 March 2023

Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 March 2023

Directors
The directors who served the company throughout the year were as follows:

E M Zutshi

J A Lewendon

M P Turner

Statement of directors' responsibilities

The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to

select suitable accounting policies and then apply them consistently
make judgments and accounting estimates that are reasonable and prudent
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business

The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:

----------------------------------
M P Turner
Director

Date approved: 25 July 2023

The Turner Agency Communications Ltd Accountants' Report For the year ended 31 March 2023
In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the accounts of The Turner Agency Communications Ltd for the year ended 31 March 2023 which comprise the Income Statement, the Statement of Financial Position and related notes from the company's accounting records and from information and explanations you have given us. As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com. This report is made solely to the member of The Turner Agency Communications Ltd, as a body, in accordance with the terms of our engagement letter dated 25 July 2023. Our work has been undertaken solely to prepare for your approval the accounts of The Turner Agency Communications Ltd and state those matters that we have agreed to state to the Board ofs of The Turner Agency Communications Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants and as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Turner Agency Communications Ltd and its members as a body for our work or for this report. It is your duty to ensure that The Turner Agency Communications Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and Loss of The Turner Agency Communications Ltd. You consider that The Turner Agency Communications Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the accounts of The Turner Agency Communications Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts. .................................................... Sole Associates SVR Limited 3 Park Court Pyrford Road West Byfleet Surrey KT14 6SD 25 July 2023 3

The Turner Agency Communications Ltd
Accountants' Report
For the year ended 31 March 2023

In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the accounts of The Turner Agency Communications Ltd for the year ended 31 March 2023 which comprise the Income Statement, the Statement of Financial Position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the member of The Turner Agency Communications Ltd, as a body, in accordance with the terms of our engagement letter dated 25 July 2023. Our work has been undertaken solely to prepare for your approval the accounts of The Turner Agency Communications Ltd and state those matters that we have agreed to state to the Board ofs of The Turner Agency Communications Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants and as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Turner Agency Communications Ltd and its members as a body for our work or for this report.

It is your duty to ensure that The Turner Agency Communications Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and Loss of The Turner Agency Communications Ltd. You consider that The Turner Agency Communications Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of The Turner Agency Communications Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

....................................................
Sole Associates SVR Limited
3 Park Court
Pyrford Road
West Byfleet
Surrey
KT14 6SD
25 July 2023

Registered Number: 08305762 The Turner Agency Communications Ltd
Statement of Financial Position
As at 31 March 2023

	Notes	2023 £	2022 £
Fixed assets
Investments	3	788,743	3,622,784
		788,743	3,622,784
Current assets
Debtors: amounts falling due within one year	4	200	200
Creditors: amount falling due within one year	5	(444,299)	(3,132,895)
Net current liabilities		(444,099)	(3,132,695)

Total assets less current liabilities		344,644	490,089
Creditors: amount falling due after more than one year	6	(640,206)	(717,018)
Net liabilities		(295,562)	(226,929)

Capital and reserves
Called up share capital	7	200	200
Profit and loss account		(295,762)	(227,129)
Shareholder's funds		(295,562)	(226,929)

For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The financial statements were approved by the board of directors on 25 July 2023 and were signed on its behalf by:

-------------------------------
M P Turner
Director

The Turner Agency Communications Ltd
Statement of Changes in Equity
For the year ended 31 March 2023

	Equity share capital	Preference share capital	Retained Earnings	Total
	£	£	£	£
At 01 April 2021	100	100	(194,985)	(194,785)
Profit for the year			(22,144)	(22,144)
Total comprehensive income for the year	-	-	(22,144)	(22,144)
Dividends			(10,000)	(10,000)
Total investments by and distributions to owners	-	-	(10,000)	(10,000)
At 31 March 2022	100	100	(227,129)	(226,929)
At 01 April 2022	100	100	(227,129)	(226,929)
Profit for the year			(58,633)	(58,633)
Total comprehensive income for the year	-	-	(58,633)	(58,633)
Dividends			(10,000)	(10,000)
Total investments by and distributions to owners	-	-	(10,000)	(10,000)
At 31 March 2023	100	100	(295,762)	(295,562)

The Turner Agency Communications Ltd
Notes to the Financial Statements
For the year ended 31 March 2023

General Information

The Turner Agency Communications Ltd is a private company, limited by shares, registered in England and Wales, registration number 08305762, registration address The Lightbox, Willoughby Road, Bracknell, Berkshire, RG12 8FB.

The presentation currency is £ sterling.

Accounting policies

Significant accounting policies

The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)

Group accounts

The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has, therefore, taken advantage of the option provided by section 398 of the Companies Act 2006 not to prepare group accounts.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted

Dividends

Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.

Preference dividends

Where preference shares are classed as liabilities rather than equity any preference dividends paid are included in interest payable and similar charges within the income statement.

Fixed asset investments

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

Preference shares

The company's preference shares are treated as a financial liability since they are subject to mandatory redemption for a fixed or determinable amount at a fixed or determinable time and are thus included in creditors in the statement of financial position rather than as part of the company's issued share capital.

2.	Average number of employees Average number of employees during the year was 0 (2022 : 0).

Investments

Cost	Investments in group undertakings	Total
	£	£
At 01 April 2022	3,622,784	3,622,784
Additions	-	-
Transfer to/from Tangible fixed assets	-	-
Disposals	-	-
Revaluations	(2,834,041)	(2,834,041)
At 31 March 2023	788,743	788,743

Debtors: amounts falling due within one year

	2023 £		2022 £
Other Debtors	200		200
	200		200

Creditors: amount falling due within one year

	2023 £	2022 £
Amounts Owed to Group Undertakings	-	2,706,233
Accrued Expenses	650	650
Other Creditors	443,649	426,012
	444,299	3,132,895

Creditors: amount falling due after more than one year

	2023 £		2022 £
Other Creditors	640,206		717,018
	640,206		717,018

Share Capital

Allotted, called up and fully paid	2023 £		2022 £
200 Ordinary shares of £1.00 each	200		200
	200		200

Related parties

During the year the company entered into the following transactions with related parties:

	Transaction value - income/(expenses)				Balance owed by/(owed to)
	2023 £		2022 £		2023 £		2022 £
Related Party	-		-		1,083,855		1,143,030

9.	Exceptional Item

Exceptional Item

The exceptional item of £2,834,041 is a write down of the fixed asset investment in The Turner Agency Limited.

10.

Related Party Note

On 6th December 2012, the company purchased 100% of the shares of The Turner Agency Limited, a company wholly owned by Mr P A and Mrs C C Turner, for £3,500,000. After an initial consideration payment of £1,200,000, the balance of £2,300,000 is to be paid by instalments over the succeeding years. Interest is payable at 2.75% per annum on the loan amount outstanding at any time. The loan outstanding is guaranteed by the company, The Turner Agency Limited.

During the year the company received £2,844,041 in dividends from its subsidiary The Turner Agency Limited. The amount due to the subsidiary as at the year end was £Nil (2022: £2,706,233).