David Turner Property Ltd

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Statement of Financial Position	1—2
Notes to the Financial Statements	3—5

1. General Information

David Turner Property Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11621480 . The registered office is 156a Burnt Oak Broadway, Edgware, Middlesex, HA8 0AX.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements are prepared in sterling, which is the functional currency of the entity.

2.2. Going Concern Disclosure

As at 31 December 2025, the company had net liabilities of £198,986 (2024: £119,961) and net current assets of £52,125 (2024: £31,047). The net liability position arises principally from the long-term private loan from a shareholder of £251,420.

The directors have prepared cash flow forecasts covering a period of at least 12 months from the date of signing these financial statements. In forming their assessment, they have considered the recoverability of the company's current assets, its liquidity position, and the commitment of the shareholders to continue to provide financial support to the company for at least that period, including their undertaking not to demand repayment of the shareholder loan during that time.

On the basis of this assessment, the directors are satisfied that no material uncertainty exists that would cast significant doubt on the company's ability to continue as a going concern, and they continue to adopt the going concern basis in preparing the financial statements.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Website Development Costs	straight line over 5 years
Computer Equipment	25% reducing balance

2.5. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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.

...CONTINUED

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David Turner Property Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.5. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.6. Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and where material are subsequently measured at amortised cost using the effective interest method, less any impairment.

2.7. Basic financial liabilities

Basic financial liabilities, including trade and other payables and loans from company undertakings that are classified as debt are initially measured at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at the market rate of interest.

2.8. Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid investmens with original maturities of three months or less.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

4. Tangible Assets

	Website Development Costs	Computer Equipment	Total
	£	£	£
Cost
As at 1 January 2025	17,747	1,782	19,529

As at 31 December 2025	17,747	1,782	19,529

Depreciation
As at 1 January 2025	17,746	1,371	19,117
Provided during the period	-	103	103

As at 31 December 2025	17,746	1,474	19,220

Net Book Value
As at 31 December 2025	1	308	309

As at 1 January 2025	1	411	412

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David Turner Property Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	30,902	17,100
Corporation tax recoverable assets	-	14,571
VAT	-	16,688

	30,902	48,359

Trade Debtors

Trade debtors are recognised at the invoiced amount and subsequently measured at amortised cost, less any provision for impairment. Where there is objective evidence that a debt may not be recoverable, it is written down to its recoverable amount through a charge to the income statement.

Impairment of Trade Debtors

A provision for impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due under the original terms of the invoice. Indicators of impairment include known insolvency or significant financial difficulties of the debtor, failure to make payment after reminders, or other objective evidence of potential non-payment. Individual trade debtor balances are reviewed on a case-by-case basis.

Debts which are considered irrecoverable are written off against the provision or directly to the income statement in the period they are identified.

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	52	1,980
Corporation tax	-	42
Other taxes and social security	15,911	5,174
VAT	18,738	-
Net wages	3,151	-
Private loan < 12 months	50,451	50,451
Accruals and deferred income	4,500	4,000
Directors' loan accounts	4,851	9,738

	97,654	71,385

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Private loan > 12 months	251,420	151,420

The private loan is unsecured and interest-free. Precise repayment terms are yet to be ascertained.

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2,000	2,000

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		309		412

			309		412
CURRENT ASSETS
Debtors	5	30,902		48,359
Cash at bank and in hand		118,877		54,073

		149,779		102,432
Creditors: Amounts Falling Due Within One Year	6	(97,654 )		(71,385 )

NET CURRENT ASSETS (LIABILITIES)			52,125		31,047

TOTAL ASSETS LESS CURRENT LIABILITIES			52,434		31,459

Creditors: Amounts Falling Due After More Than One Year	7		(251,420 )		(151,420 )

NET LIABILITIES			(198,986 )		(119,961 )

CAPITAL AND RESERVES
Called up share capital	8		2,000		2,000
Income Statement			(200,986 )		(121,961 )

SHAREHOLDERS' FUNDS			(198,986)		(119,961)