1 April 2023 0 01304073 ns1:FRS102 2023-04-01 2024-03-31 01304073 ns1:FullAccounts 2023-04-01 2024-03-31 01304073 ns1:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01304073 ns1:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 01304073 2023-04-01 2024-03-31 01304073 2024-03-31 01304073 2023-04-01 2024-03-31 01304073 ns1:Director1 2023-04-01 2024-03-31 01304073 ns1:Director2 2023-04-01 2024-03-31 01304073 ns1:Director3 2023-04-01 2024-03-31 01304073 ns1:Director4 2023-04-01 2024-03-31 01304073 ns1:Director5 2023-04-01 2024-03-31 01304073 ns1:Director6 2023-04-01 2024-03-31 01304073 ns1:Director7 2023-04-01 2024-03-31 01304073 ns1:Director8 2023-04-01 2024-03-31 01304073 ns1:Director9 2023-04-01 2024-03-31 01304073 ns1:Director10 2023-04-01 2024-03-31 01304073 ns1:Director11 2023-04-01 2024-03-31 01304073 ns1:Director12 2023-04-01 2024-03-31 01304073 ns1:Director13 2023-04-01 2024-03-31 01304073 ns1:Director14 2023-04-01 2024-03-31 01304073 ns1:Director15 2023-04-01 2024-03-31 01304073 ns1:Director16 2023-04-01 2024-03-31 01304073 ns1:Director17 2023-04-01 2024-03-31 01304073 ns1:Director18 2023-04-01 2024-03-31 01304073 ns1:Director19 2023-04-01 2024-03-31 01304073 ns1:Director20 2023-04-01 2024-03-31 01304073 ns1:RegisteredOffice 2023-04-01 2024-03-31 01304073 ns1:CompanySecretary1 2023-04-01 2024-03-31 01304073 ns3:FurnitureFittings 2024-03-31 01304073 ns3:LandBuildings ns3:OwnedOrFreeholdAssets 2024-03-31 01304073 ns3:LandBuildings ns3:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01304073 ns3:LandBuildings ns3:LongLeaseholdAssets 2024-03-31 01304073 ns3:LandBuildings ns3:LongLeaseholdAssets 2023-04-01 2024-03-31 01304073 ns3:NetGoodwill 2024-03-31 01304073 ns3:NetGoodwill 2023-04-01 2024-03-31 01304073 ns1:OrdinaryShareClass1 2024-03-31 01304073 ns1:OrdinaryShareClass2 2024-03-31 01304073 ns1:OrdinaryShareClass3 2024-03-31 01304073 ns3:IntangibleAssetsOtherThanGoodwill 2024-03-31 01304073 ns3:IntangibleAssetsOtherThanGoodwill 2023-04-01 2024-03-31 01304073 ns3:PlantMachinery 2023-04-01 2024-03-31 01304073 ns3:PlantMachinery 2024-03-31 01304073 ns1:PreferenceShareClass1 2024-03-31 01304073 ns1:PreferenceShareClass2 2024-03-31 01304073 ns3:LandBuildings ns3:ShortLeaseholdAssets 2024-03-31 01304073 ns3:LandBuildings ns3:ShortLeaseholdAssets 2023-04-01 2024-03-31 01304073 ns3:Vehicles 2024-03-31 01304073 ns3:Vehicles 2023-04-01 2024-03-31 01304073 ns3:FurnitureFittings 2023-04-01 2024-03-31 01304073 2023-04-01 01304073 2024-03-31 01304073 2024-03-31 01304073 ns3:FurnitureFittings 2023-03-31 01304073 ns3:LandBuildings ns3:OwnedOrFreeholdAssets 2023-03-31 01304073 ns3:LandBuildings ns3:LongLeaseholdAssets 2023-03-31 01304073 ns3:NetGoodwill 2023-03-31 01304073 ns3:IntangibleAssetsOtherThanGoodwill 2023-03-31 01304073 ns3:PlantMachinery 2023-03-31 01304073 2022-04-01 01304073 ns3:LandBuildings ns3:ShortLeaseholdAssets 2023-03-31 01304073 ns3:Vehicles 2023-03-31 01304073 2022-04-01 2023-03-31 01304073 ns1:AllEntityOfficers 2022-04-01 2023-03-31 01304073 2023-03-31 01304073 ns1:OrdinaryShareClass2 2023-03-31 01304073 ns1:OrdinaryShareClass1 2023-03-31 01304073 ns1:OrdinaryShareClass3 2022-04-01 01304073 ns1:PreferenceShareClass1 2023-03-31 01304073 ns1:PreferenceShareClass2 2023-03-31 01304073 ns3:NetGoodwill 2023-04-01 2024-03-31 01304073 ns3:NetGoodwill 2022-04-01 2023-03-31 01304073 ns3:NetGoodwill 2024-03-31 01304073 ns3:NetGoodwill 2023-03-31 01304073 ns3:LeasedTangibleFixedAssets 2023-04-01 2024-03-31 01304073 ns1:HighestPaidDirector 2023-04-01 2024-03-31 01304073 ns1:HighestPaidDirector 2022-04-01 2023-03-31 01304073 ns3:Buildings 2023-04-01 2024-03-31 01304073 ns3:LeasedTangibleFixedAssets ns3:Buildings 2023-04-01 2024-03-31 01304073 ns3:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01304073 ns3:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01304073 ns3:LeasedTangibleFixedAssets 2023-04-01 2024-03-31 01304073 ns3:LeasedTangibleFixedAssets 2022-04-01 2023-03-31 01304073 ns1:AllOrdinaryShares 2024-03-31 01304073 ns1:AllPreferenceShares 2024-03-31 01304073 ns1:AllOrdinaryShares 2023-03-31 01304073 ns1:AllPreferenceShares 2023-03-31 01304073 ns1:AllOrdinaryShares ns3:DividendsPaid 2022-04-01 2023-03-31 01304073 ns1:AllOrdinaryShares ns3:DividendsProposed 2023-04-01 2024-03-31 01304073 ns1:AllOrdinaryShares ns3:DividendsProposed 2022-04-01 2023-03-31 01304073 ns1:AllOrdinaryShares ns3:DividendsPaid 2023-04-01 2024-03-31 01304073 ns1:AllOrdinaryShares 2023-04-01 2024-03-31 01304073 ns1:AllPreferenceShares 2023-04-01 2024-03-31 01304073 ns3:CopyrightsPatentsTrademarksServiceOperatingRights 2023-04-01 01304073 ns3:CopyrightsPatentsTrademarksServiceOperatingRights 2023-04-01 2024-03-31 01304073 ns3:CopyrightsPatentsTrademarksServiceOperatingRights 2024-03-31 01304073 ns3:OtherResidualIntangibleAssets 2023-04-01 01304073 ns3:OtherResidualIntangibleAssets 2023-04-01 2024-03-31 01304073 ns3:OtherResidualIntangibleAssets 2024-03-31 01304073 ns1:OrdinaryShareClass1 2023-04-01 2024-03-31 01304073 ns1:OrdinaryShareClass2 2023-04-01 2024-03-31 01304073 ns1:OrdinaryShareClass3 2023-04-01 2024-03-31 01304073 ns1:OrdinaryShareClass4 2023-04-01 2024-03-31 01304073 ns1:OrdinaryShareClass5 2023-04-01 2024-03-31 01304073 ns1:PreferenceShareClass1 2023-04-01 2024-03-31 01304073 ns1:PreferenceShareClass2 2023-04-01 2024-03-31 01304073 ns1:OrdinaryShareClass3 2024-03-31 01304073 ns1:OrdinaryShareClass4 2024-03-31 01304073 ns1:OrdinaryShareClass5 2024-03-31 01304073 ns1:OrdinaryShareClass3 2023-03-31 01304073 ns1:OrdinaryShareClass4 2023-03-31 01304073 ns1:OrdinaryShareClass5 2023-03-31 01304073 ns3:Acquisitions 2023-04-01 2024-03-31 01304073 ns3:Acquisitions 2022-04-01 2023-03-31 01304073 ns3:DiscontinuedOperations 2023-04-01 2024-03-31 01304073 ns3:DiscontinuedOperations 2022-04-01 2023-03-31 01304073 ns3:ContinuingOperationsExcludingAcquisitions 2023-04-01 2024-03-31 01304073 ns3:ContinuingOperationsExcludingAcquisitions 2022-04-01 2023-03-31 01304073 ns3:WithinOneYear 2023-04-01 2024-03-31 01304073 ns3:WithinOneYear 2024-03-31 01304073 ns3:WithinOneYear 2023-03-31 01304073 ns3:AfterOneYear 2023-04-01 2024-03-31 01304073 ns3:WithinOneYear 2023-04-01 2024-03-31 01304073 ns3:AfterOneYear 2023-04-01 2024-03-31 01304073 ns3:BetweenOneTwoYears 2023-04-01 2024-03-31 01304073 ns3:BetweenTwoFiveYears 2023-04-01 2024-03-31 01304073 ns3:MoreThanFiveYears 2023-04-01 2024-03-31 01304073 ns3:BetweenOneTwoYears 2023-04-01 2024-03-31 01304073 ns3:BetweenTwoFiveYears 2023-04-01 2024-03-31 01304073 ns3:MoreThanFiveYears 2023-04-01 2024-03-31 01304073 ns3:ShareCapital 2024-03-31 01304073 ns3:RetainedEarningsAccumulatedLosses 2024-03-31 01304073 ns3:ShareCapitalOrdinaryShares 2024-03-31 01304073 ns3:ShareCapitalPreferenceShares 2024-03-31 01304073 ns3:PropertiesRevaluationReserve 2024-03-31 01304073 ns3:SharePremiumOrdinaryShares 2024-03-31 01304073 ns3:OtherMiscellaneousReserve 2024-03-31 01304073 ns3:ShareCapital 2023-03-31 01304073 ns3:SharePremiumOrdinaryShares 2023-03-31 01304073 ns3:ShareCapital 2022-04-01 2023-03-31 01304073 ns3:ShareCapital 2023-04-01 2024-03-31 01304073 ns3:RetainedEarningsAccumulatedLosses 2023-03-31 01304073 ns3:ShareCapitalOrdinaryShares 2023-03-31 01304073 ns3:ShareCapitalPreferenceShares 2023-03-31 01304073 ns3:PropertiesRevaluationReserve 2023-03-31 01304073 ns3:OtherMiscellaneousReserve 2023-03-31 01304073 ns3:SharePremiumOrdinaryShares 2024-03-31 01304073 ns3:SharePremiumOrdinaryShares 2023-03-31 01304073 ns3:WithinOneYear 2024-03-31 01304073 ns3:WithinOneYear 2023-03-31 01304073 ns3:AfterOneYear 2024-03-31 01304073 ns3:AfterOneYear 2023-03-31 01304073 ns3:WithinOneYear 2024-03-31 01304073 ns3:WithinOneYear 2023-03-31 01304073 ns3:BetweenOneTwoYears 2024-03-31 01304073 ns3:BetweenOneTwoYears 2023-03-31 01304073 ns3:BetweenTwoFiveYears 2024-03-31 01304073 ns3:BetweenTwoFiveYears 2023-03-31 01304073 ns3:MoreThanFiveYears 2024-03-31 01304073 ns3:MoreThanFiveYears 2023-03-31 01304073 ns3:OtherMiscellaneousReserve 2022-04-01 01304073 ns3:ShareCapital 2022-04-01 01304073 ns3:RetainedEarningsAccumulatedLosses 2022-04-01 01304073 ns3:PropertiesRevaluationReserve 2022-04-01 01304073 2022-04-01 01304073 ns3:AfterOneYear 2023-04-01 2024-03-31 01304073 ns6:Europe 2023-04-01 2024-03-31 01304073 ns6:Europe 2022-04-01 2023-03-31 01304073 ns6:UnitedKingdom 2023-04-01 2024-03-31 01304073 ns6:UnitedKingdom 2022-04-01 2023-03-31 01304073 ns6:Americas 2023-04-01 2024-03-31 01304073 ns6:Americas 2022-04-01 2023-03-31 01304073 ns6:MiddleEast 2023-04-01 2024-03-31 01304073 ns6:MiddleEast 2022-04-01 2023-03-31 01304073 ns6:Africa 2023-04-01 2024-03-31 01304073 ns6:Africa 2022-04-01 2023-03-31 01304073 ns6:Asia 2023-04-01 2024-03-31 01304073 ns6:Asia 2022-04-01 2023-03-31 01304073 ns6:Australasia 2023-04-01 2024-03-31 01304073 ns6:Australasia 2022-04-01 2023-03-31 01304073 ns3:ReportableOperatingSegment1 2023-04-01 2024-03-31 01304073 ns3:ReportableOperatingSegment1 2022-04-01 2023-03-31 01304073 ns3:ReportableOperatingSegment2 2023-04-01 2024-03-31 01304073 ns3:ReportableOperatingSegment2 2022-04-01 2023-03-31 01304073 ns3:ReportableOperatingSegment3 2023-04-01 2024-03-31 01304073 ns3:ReportableOperatingSegment3 2022-04-01 2023-03-31 01304073 ns5:AdministrativeExpenses 2023-04-01 2024-03-31 01304073 ns5:AdministrativeExpenses 2022-04-01 2023-03-31 01304073 ns5:DistributionCosts 2023-04-01 2024-03-31 01304073 ns5:DistributionCosts 2022-04-01 2023-03-31 01304073 ns5:Exceptional 2023-04-01 2024-03-31 01304073 ns5:Exceptional 2022-04-01 2023-03-31 01304073 2023-04-01 2024-03-31 xbrli:pure xbrli:shares iso4217:GBP iso4217:USD
Company registration number:01304073
TURNACK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 March 2024
TURNACK LIMITED
BALANCE SHEET
AS AT 31 March 2024
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets34,661,6264,661,469
Financial assets4528,537472,181
5,190,1635,133,650
CURRENT ASSETS
Debtors5393,203388,985
Cash at bank and in hand4,163,0463,920,500
4,556,2494,309,485
CREDITORS
Amounts falling due within one year 6 (358,519) (291,402)
NET CURRENT ASSETS 4,197,730 4,018,083
TOTAL ASSETS LESS
CURRENT LIABILITIES 9,387,893 9,151,733
PROVISIONS FOR LIABILITIES(74,233)(74,058)
NET ASSETS 9,313,660 9,077,675
CAPITAL AND RESERVES
Called-up equity share capital 7 85 85
Other Reserves1515
Profit and loss account 9,313,560 9,077,575
SHAREHOLDERS FUNDS 9,313,660 9,077,675
For the year ending 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. Approved by the board of directors on 29 August 2024 and signed on its behalf.
The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies' regime.
..........................................................................
G B Walker
29 August 2024
The annexed notes form part of these financial statements.

TURNACK LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
Share Share P and L Revaluation Other Total
Capital Premium Account reserve reserves equity
£ £ £ £ £ £
Balance at 1 April 20228508,877,7780158,877,878
Changes in equity
Total Comprehensive Income00199,79700199,797
Balance at 31 March 20238509,077,5750159,077,675
Changes in equity
Total comprehensive income00235,98500235,985
Balance at 31 March 20248509,313,5600159,313,660

TURNACK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
1. Accounting policies
Statutory information
Turnack Limited (the "Company") is a private company limited by shares, with the registered number 01304073, incorporated in England and Wales under the Companies Act. The registered office address of the Company is Nursery Cottage Beckley, Hinton, Christchurch, Dorset, BH23 7ED.
Basis of preparing the 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 (FRS 102) the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3). The presentational and functional currency of these financial statements is GBP. Values are rounded to the nearest pound. The following principal accounting policies have been applied:
Turnover
Turnover represents rental income received on investment properties let out to third parties at invoiced amounts less VAT. Rental income is recognised in the period it relates to.
Fixed Assets
Tangible fixed assets under the cost model, other than investment properties, are stated at valuation or historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset t the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as seen below. Depreciation is provided on the following basis: Other property, plant and equipment - 25% Reducing balanc Motor vehicles - 25% Reducing balanc Furniture, fittings and equipment - 33% Straight line Computer equipment - 33% Straight line Freehold property is held at historical cost. The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds wit the carrying amounts and are recognised in the Statement of Comprehensive Income. Investment property Investment properties are carried at fair value determined annually by external valuers and/or the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of th specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.
Equity Instruments
Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income.
Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Investments in non-derivative instruments that are equity to the issuer are measured: - at fair value with changes recognised in the Statement of Comprehensive Income if the shares are publicly traded or their fair value can otherwise be measured reliably. - at cost less impairment for all other investments.
Taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is 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.
Deferred Taxation
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: * " The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and * " Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the difference between the fair values of assets acquired and the future tax deductions available from them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Pension Scheme
Defined contribution pension plan The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. Any contributions to the Company's plan, and to independent employee schemes as part of a remuneration package, are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown as a liability in the Balance Sheet. The assets of the Company's plan are held separately from the Company in independently administered funds.
2.Employees
The average number of persons employed by the company (including directors) during the year was 5.
3.Tangible fixed assets
Land/Buildings Plant Motor F and F Total
Cost
At start of period 4,656,150 12,110 29,086 32,334 4,729,680
Additions 0 0 0 3,578 3,578
Disposals (0) (0) (0) (1,450) (1,450)
At end of period 4,656,150 12,110 29,086 34,462 4,731,808
Depreciation
At start of period 0 12,110 27,483 28,618 68,211
Provided during the period 0 0 401 3,020 3,421
On disposals (0) (0) (0) (1,450) (1,450)
At end of period 0 12,110 27,884 30,188 70,182
Net Book Value
At start of period 4,656,150 0 1,603 3,716 4,661,469
At end of period 4,656,150 0 1,202 4,274 4,661,626
4.Fixed asset investments
Unlisted Total
Cost
At start of period 472,181 472,181
On revaluations 56,356 56,356
At end of period 528,537 528,537
Carrying amount:
At start of period 472,181 472,181
At end of period 528,537 528,537
5.Debtors
20242023
££
Due within one year
Trade Debtors12,5907,150
Other Debtors276,242275,998
Prepayments and accrued income14,99616,462
Deferred tax current asset89,37589,375
393,203388,985
6.Creditors due within one year
20242023
££
Trade creditors14,7047,118
Corporation Tax63,98423,474
Other taxes and social security costs41,72537,469
Other creditors95,78689,059
Accruals and deferred income142,320134,282
358,519 291,402
7. Share capital Alloted, Issued and fully paid
2024 2023
£ £
85 Ordinary shares of £1.00 each8585
Total issued share capital8585
8.Related Party Transactions
At year end amounts owed from directors, shareholders and their close family members totalled £275,000 (2023: £275,000). Interest received in relation to this loan totalled £6,188 (2023: £5,500). Interest of £4,602 was also received for a loan of £250,000 during the year to a close family member of a director, which had been repaid in full by the year end.