Company registration number 00451226 (England and Wales)
TURNERS (CROSSPOOL) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
PAGES FOR FILING WITH REGISTRAR
TURNERS (CROSSPOOL) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
TURNERS (CROSSPOOL) LIMITED
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
-
0
-
0
Investment property
6
2,335,000
1,547,732
Current assets
Debtors
7
40,096
27,843
Investments
8
29,667
26,568
Cash at bank and in hand
12,540
32,914
82,303
87,325
Creditors: amounts falling due within one year
9
(32,079)
(39,562)
Net current assets
50,224
47,763
Total assets less current liabilities
2,385,224
1,595,495
Creditors: amounts falling due after more than one year
10
(1,377)
(6,533)
Provisions for liabilities
(345,248)
(148,431)
Net assets
2,038,599
1,440,531
Capital and reserves
Called up share capital
1,328
1,328
Revaluation reserve
11
1,520,382
929,931
Other reserves
(9,969)
(13,068)
Profit and loss reserves
526,858
522,340
Total equity
2,038,599
1,440,531
TURNERS (CROSSPOOL) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2025
30 April 2025
- 2 -

For the financial year ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements 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 financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 14 April 2026 and are signed on its behalf by:
Mr A C Gilman
Director
Company registration number 00451226 (England and Wales)
TURNERS (CROSSPOOL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 3 -
1
Accounting policies
Company information

Turners (Crosspool) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Cannon House, Rutland Road, Sheffield, South Yorkshire, S3 8DP. The principal activity continued to be that of a property holding and investment company.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

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 financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Revenue

Rental income represents the fair value of the consideration received or receivable for rents due in the year.

The company recognises revenue from the following major sources :

property holding and investments

Other income

Interest receivable and similar income

Dividend income from investments is recognised when the shareholder's right to receive payment has been established.

Interest income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding and the effective interest rate applicable.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Tangible fixed assets include investment properties were professionally valued by Chartered Surveyors on an existing use open market value basis in July 1999 and the values have subsequently been updated by the directors. Other tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Fixtures and fittings
20% straight line

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.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

TURNERS (CROSSPOOL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 4 -
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

TURNERS (CROSSPOOL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

TURNERS (CROSSPOOL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 6 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was 2 (2024 - 4).

2025
2024
Number
Number
Total
2
4
4
Directors' remuneration
2025
2024
£
£
Remuneration paid to directors
26,578
26,709
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2024 and 30 April 2025
26,306
Depreciation and impairment
At 1 May 2024 and 30 April 2025
26,306
Carrying amount
At 30 April 2025
-
0
At 30 April 2024
-
0
6
Investment property
2025
£
Fair value
At 1 May 2024
1,547,732
Revaluations
787,268
At 30 April 2025
2,335,000

The investment properties were revalued by White & Co Chartered Surveyors on 19 September 2024 on a market value basis.

TURNERS (CROSSPOOL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 7 -
7
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
13,722
3,641
Other debtors
26,374
24,202
40,096
27,843
8
Current asset investments
2025
2024
£
£
Other investments
29,667
26,568
9
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
5,141
5,061
Trade creditors
865
1,731
Taxation and social security
3,534
12,115
Other creditors
22,539
20,655
32,079
39,562
10
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
1,377
6,533
11
Revaluation reserve

The revaluation reserve represents the difference between the fair value and the cost of investment properties after making provision for deferred tax.

12
Other reserves

The other reserve represents the difference between the fair value and the cost of current asset listed investments after making provision for deferred tax.

2025-04-30 2024-05-01 false false false 14 April 2026 CCH Software CCH Accounts Production 2025.300 No description of principal activity Mrs J R Gilman Mr A C Gilman Mr M R Gilman 00451226 2024-05-01 2025-04-30 00451226 2025-04-30 00451226 2024-04-30 00451226 core:CurrentFinancialInstruments core:WithinOneYear 2025-04-30 00451226 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 00451226 core:CurrentFinancialInstruments 2025-04-30 00451226 core:CurrentFinancialInstruments 2024-04-30 00451226 core:Non-currentFinancialInstruments 2025-04-30 00451226 core:Non-currentFinancialInstruments 2024-04-30 00451226 core:ShareCapital 2025-04-30 00451226 core:ShareCapital 2024-04-30 00451226 core:RevaluationReserve 2025-04-30 00451226 core:RevaluationReserve 2024-04-30 00451226 core:OtherMiscellaneousReserve 2025-04-30 00451226 core:OtherMiscellaneousReserve 2024-04-30 00451226 core:RetainedEarningsAccumulatedLosses 2025-04-30 00451226 core:RetainedEarningsAccumulatedLosses 2024-04-30 00451226 bus:Director2 2024-05-01 2025-04-30 00451226 core:FurnitureFittings 2024-05-01 2025-04-30 00451226 2023-05-01 2024-04-30 00451226 core:OtherPropertyPlantEquipment 2024-04-30 00451226 core:OtherPropertyPlantEquipment 2025-04-30 00451226 core:OtherPropertyPlantEquipment 2024-04-30 00451226 2024-04-30 00451226 bus:PrivateLimitedCompanyLtd 2024-05-01 2025-04-30 00451226 bus:SmallCompaniesRegimeForAccounts 2024-05-01 2025-04-30 00451226 bus:FRS102 2024-05-01 2025-04-30 00451226 bus:AuditExemptWithAccountantsReport 2024-05-01 2025-04-30 00451226 bus:Director1 2024-05-01 2025-04-30 00451226 bus:Director3 2024-05-01 2025-04-30 00451226 bus:FullAccounts 2024-05-01 2025-04-30 xbrli:pure xbrli:shares iso4217:GBP