Company No: 00725778 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Antony John Turner
	Jack Turner

SECRETARY

Jackaline Turner

REGISTERED OFFICE	65 Studland Road
	Kingsthorpe
	Northampton
	NN2 6NE
	United Kingdom

COMPANY NUMBER

00725778 (England and Wales)

ACCOUNTANT	Shaw Gibbs Limited
	Eagle House
	28 Billing Road
	Northampton
	NN1 5AJ

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	436,350		478,833
		436,350		478,833
Current assets
Debtors	5	328,222		166,117
Cash at bank and in hand		84,182		( 3,765)
		412,404		162,352
Creditors: amounts falling due within one year	6	( 277,093)		( 156,085)
Net current assets		135,311		6,267
Total assets less current liabilities		571,661		485,100
Creditors: amounts falling due after more than one year	7	( 5,528)		( 23,114)
Provision for liabilities		( 65,942)		( 63,748)
Net assets		500,191		398,238
Capital and reserves
Called-up share capital	8	200		200
Revaluation reserve		221,820		249,067
Profit and loss account		278,171		148,971
Total shareholders' funds		500,191		398,238

For the financial year ending 30 June 2025 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 financial statements for the financial year 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 financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of J. W. Turner Limited (registered number: 00725778) were approved and authorised for issue by the Board of Directors on 21 November 2025. They were signed on its behalf by:

Mrs Jackaline Turner Secretary

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

J. W. Turner Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 65 Studland Road, Kingsthorpe, Northampton, NN2 6NE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	25 years straight line
Plant and machinery	25 % reducing balance
Vehicles	30 % reducing balance
Fixtures and fittings	25 % reducing balance

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Financial instruments

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

2. Critical accounting judgements and key sources of estimation uncertainty

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies above.

3. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	15		17

4. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£		£
Cost
At 01 July 2024	420,000		764		226,198		17,808		664,770
Additions	0		0		0		1,867		1,867
At 30 June 2025	420,000		764		226,198		19,675		666,637
Accumulated depreciation
At 01 July 2024	32,480		522		142,159		10,776		185,937
Charge for the financial year	16,800		60		25,211		2,279		44,350
At 30 June 2025	49,280		582		167,370		13,055		230,287
Net book value
At 30 June 2025	370,720		182		58,828		6,620		436,350
At 30 June 2024	387,520		242		84,039		7,032		478,833

Revaluation of tangible assets

If land and buildings had not been revalued they would have been included at the following historical cost

	2025		2024
	£		£
Historical cost	102,836		102,836
Accumulated depreciation	(102,836)		(102,836)
Carrying value	0		0

The freehold property was valued in 2024 on a market value basis by Hadland Commercial Surveyors Limited. Having regard to the market at 30 June 2025, the directors consider the valuation of the property to be £420,000.

5. Debtors

	2025		2024
	£		£
Trade debtors	251,831		98,908
Amounts recoverable on contracts	15,835		27,082
Prepayments	18,010		10,085
Retentions receivable	42,546		30,042
	328,222		166,117

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans (secured)	0		10,215
Trade creditors	170,877		65,663
Accruals	9,771		5,936
Corporation tax	12,114		0
Other taxation and social security	66,217		45,612
Obligations under finance leases and hire purchase contracts (secured)	7,219		10,785
Other creditors	10,895		17,874
	277,093		156,085

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans (secured)	0		10,368
Obligations under finance leases and hire purchase contracts (secured)	5,528		12,746
	5,528		23,114

Net obligations under hire purchase contracts are secured on the assets concerned.

The bank loans and overdrafts are secured by a fixed and floating charge over the company's freehold property and all assets and undertakings.

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
200 Ordinary shares of £ 1.00 each	200		200

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2025		2024
	£		£
within one year	16,265		3,538
between one and five years	28,093		0
Total future minimum lease payments under non-cancellable operating leases	44,358		3,538