| REGISTERED NUMBER: |
| Report of the Members and |
| Unaudited Financial Statements for the Year Ended 31 March 2025 |
| for |
| Turnbull Investments LLP |
| REGISTERED NUMBER: |
| Report of the Members and |
| Unaudited Financial Statements for the Year Ended 31 March 2025 |
| for |
| Turnbull Investments LLP |
| Turnbull Investments LLP (Registered number: SO300819) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2025 |
| Page |
| General Information | 1 |
| Report of the Members | 2 |
| Income Statement | 3 |
| Balance Sheet | 4 |
| Reconciliation of Members' Interests | 6 |
| Notes to the Financial Statements | 8 |
| Turnbull Investments LLP |
| General Information |
| for the Year Ended 31 March 2025 |
| DESIGNATED MEMBERS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 25 Sandyford Place |
| Glasgow |
| G3 7NG |
| Turnbull Investments LLP (Registered number: SO300819) |
| Report of the Members |
| for the Year Ended 31 March 2025 |
| The members present their report with the financial statements of the LLP for the year ended 31 March 2025. |
| PRINCIPAL ACTIVITY |
| The principal activity of the LLP in the year under review was that of holding commercial property for investment purposes. |
| DESIGNATED MEMBERS |
| The designated members during the year under review were: |
| RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
| The profit for the year before members' remuneration and profit shares was £20,759 (2024 - £16,599 profit). |
| MEMBERS' INTERESTS |
| These are detailed in Note 10. |
| ON BEHALF OF THE MEMBERS: |
| Turnbull Investments LLP (Registered number: SO300819) |
| Income Statement |
| for the Year Ended 31 March 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| TURNOVER |
| Administrative expenses |
| (48,641 | ) | (36,185 | ) |
| Other operating income |
| OPERATING PROFIT | 4 |
| Interest payable and similar expenses |
| PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
| Turnbull Investments LLP (Registered number: SO300819) |
| Balance Sheet |
| 31 March 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 6 |
| Investment property | 7 |
| CURRENT ASSETS |
| Debtors | 8 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 9 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| and |
| NET ASSETS ATTRIBUTABLE TO MEMBERS |
1,033,993 |
1,039,334 |
| LOANS AND OTHER DEBTS DUE TO MEMBERS |
10 |
1,033,993 |
1,039,334 |
| TOTAL MEMBERS' INTERESTS |
| Loans and other debts due to members | 10 | 1,033,993 | 1,039,334 |
| The members acknowledge their responsibilities for: |
| (a) | ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP. |
| Turnbull Investments LLP (Registered number: SO300819) |
| Balance Sheet - continued |
| 31 March 2025 |
| The financial statements were approved by the members of the LLP and authorised for issue on |
| Turnbull Investments LLP (Registered number: SO300819) |
| Reconciliation of Members' Interests |
| for the Year Ended 31 March 2025 |
| EQUITY | DEBT | TOTAL |
| Members' | Loans and other debts due to | MEMBERS' |
| other | members less any amounts due | INTERESTS |
| interests | from members in debtors |
| Other | Other |
| reserves | amounts | Total |
| £ | £ | £ |
| Amount due to members | 1,039,334 |
| Amount due from members | - |
| Balance at 1 April 2024 | - | 1,039,334 | 1,039,334 |
| Profit for the financial year available for discretionary division among members |
20,759 |
- |
20,759 |
| Members' interests after profit for the year |
20,759 |
1,039,334 |
1,060,093 |
| Other divisions of profit | (20,759 | ) | 20,759 | - |
| Introduced by members | - | (49,688 | ) | (49,688 | ) |
| Repayments of debt (including members' capital classified as a liability) |
- |
44,347 |
44,347 |
| Drawings on account and distributions of profit |
- |
(20,759 |
) |
(20,759 |
) |
| Amount due to members | 1,033,993 |
| Amount due from members | - |
| Balance at 31 March 2025 | - | 1,033,993 | 1,033,993 |
| Turnbull Investments LLP (Registered number: SO300819) |
| Reconciliation of Members' Interests |
| for the Year Ended 31 March 2025 |
| EQUITY | DEBT | TOTAL |
| Members' | Loans and other debts due to | MEMBERS' |
| other | members less any amounts due | INTERESTS |
| interests | from members in debtors |
| Other | Other |
| reserves | amounts | Total |
| £ | £ | £ |
| Amount due to members | 1,000,507 |
| Amount due from members | - |
| Balance at 1 April 2023 | - | 1,000,507 | 1,000,507 |
| Profit for the financial year available for discretionary division among members |
16,599 |
- |
16,599 |
| Members' interests after profit for the year |
16,599 |
1,000,507 |
1,017,106 |
| Other divisions of profit | (16,599 | ) | 16,599 | - |
| Introduced by members | - | 61,899 | 61,899 |
| Repayments of debt (including members' capital classified as a liability) |
- |
(23,072 |
) |
(23,072 |
) |
| Drawings on account and distributions of profit |
- |
(16,599 |
) |
(16,599 |
) |
| Amount due to members | 1,039,334 |
| Amount due from members | - |
| Balance at 31 March 2024 | - | 1,039,334 | 1,039,334 |
| Turnbull Investments LLP (Registered number: SO300819) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 1. | STATUTORY INFORMATION |
| Turnbull Investments LLP is registered in Scotland. The LLP's registered number and registered office address can be found on the General Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Motor vehicles | - |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| 3. | EMPLOYEE INFORMATION |
| The average number of employees during the year was NIL (2024 - NIL). |
| Turnbull Investments LLP (Registered number: SO300819) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 4. | OPERATING PROFIT |
| The operating profit is stated after charging: |
| 2025 | 2024 |
| £ | £ |
| Depreciation - owned assets |
| 5. | INFORMATION IN RELATION TO MEMBERS |
| 2025 | 2024 |
| The average number of members during the year was | 3 | 3 |
| 6. | TANGIBLE FIXED ASSETS |
| Motor |
| vehicles |
| £ |
| COST |
| At 1 April 2024 |
| and 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| 7. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2024 |
| and 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| and 31 March 2025 | 78,270 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| Turnbull Investments LLP (Registered number: SO300819) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Other creditors |
| 10. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
| Loans and other debts due to members would rank after all other creditors. |
| The balance of loans due to members is allocated as follows - |
| £ |
| Mrs Karen M Turnbull | 490,623 |
| Mr James D Turnbull | 150,000 |
| Joint capital account | 640,623 |
| Dr Katie Turnbull | 393,370 |
| Total | 1,033,993 |