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|  |  | Company registration number: | 01304073 |
TURNACK LIMITED |  |  |  |
REPORT OF THE DIRECTORS' AND |  |  |  |
FINANCIAL STATEMENTS |  |  |  |
FOR THE YEAR ENDED 31 March 2026

TURNACK LIMITED |  |  |  |  |  |  |  |  |  |  |
BALANCE SHEET |  |  |  |  |  |  |  |  |  |  |
AS AT 31 March 2026 |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  | 2026 |  | 2025 |
|  |  |  | Notes | £ |  | £ |  | £ |  | £ |
FIXED ASSETS |  |  |  |  |  |  |  |  |  |  |
Tangible assets |  |  | 3 |  |  | 5,943,482 |  |  |  | 5,411,611 |
Financial assets |  |  | 4 |  |  | 636,924 |  |  |  | 543,130 |
|  |  |  |  |  |  | 6,580,406 |  |  |  | 5,954,741 |
CURRENT ASSETS |  |  |  |  |  |  |  |  |  |  |
Debtors |  |  |  | 449,565 |  |  |  | 302,380 |  |  |  |
Cash at bank and in hand |  |  |  | 3,238,038 |  |  |  | 3,799,169 |  |  |  |
|  |  |  |  | 3,687,603 |  |  |  | 4,101,549 |  |  |
CREDITORS |  |  |  |  |  |  |  |  |  |  |
Amounts falling due within one year |  |  | (385,114) |  |  |  | (441,548) |  |  |
NET CURRENT ASSETS |  |  |  |  |  | 3,302,489 |  |  |  | 3,660,001 |
TOTAL ASSETS LESS |  |  |  |  |  |  |  |  |  |  |
CURRENT LIABILITIES |  |  |  |  |  | 9,882,895 |  |  |  | 9,614,742 |
PROVISIONS FOR LIABILITIES |  |  |  |  | (73,842) |  |  |  | (73,971) |
NET ASSETS |  |  |  |  |  | 9,809,053 |  |  |  | 9,540,771 |
CAPITAL AND RESERVES |  |  |  |  |  |  |  |  |  |  |
Called-up equity share capital |  |  |  |  | 85 |  |  |  | 85 |
Other Reserves |  |  |  |  |  | 15 |  |  |  | 15 |
Profit and loss account |  |  |  |  |  | 9,808,953 |  |  |  | 9,540,671 |
SHAREHOLDERS FUNDS |  |  |  |  | 9,809,053 |  |  |  | 9,540,771 |
For the year ending 31 March 2026 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. |  |  |  |  |  |  |
All the members have consented to the preparation of abridged financial statements for the year ended 31 March 2026 in accordance with Section 444(2A) of the Companies Act 2006. |  |  |  |  |  |  |
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. |  |  |  |  |  |  |
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 5 June 2026 and signed on its behalf. |  |  |  |  |  |  |
..........................................................................
G B Walker |  |  |  |  |  |  |  |  |  |  |
5 June 2026 |  |  |  |  |  |  |  |  |  |  |
The annexed notes form part of these financial statements. |  |  |  |  |  |  |

| TURNACK LIMITED |  |  |  |  |  |  |  |
| NOTES TO THE FINANCIAL STATEMENTS |  |  |  |  |  |  |
| FOR THE YEAR ENDED 31 MARCH 2026 |  |  |  |  |  |  |
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 |  |  |  |  |  |  |  |  |
|  |  |  | Total |
| Cost |  |  |  |  |  |  |  |  |  |
| At start of period |  | 5,483,346 |
| Additions |  |  | 533,854 |
| At end of period |  | 6,017,200 |
| Depreciation |  |  |  |  |  |  |  |  |  |
| At start of period |  | 71,735 |
| Provided during the period |  | 1,983 |
| At end of period |  | 73,718 |
| Net Book Value |  |  |  |  |  |  |  |  |
| At start of period |  | 5,411,611 |
| At end of period |  | 5,943,482 |

4. | Fixed asset investments |  |  |  |  |  |  |  |  |
|  |  |  | Total
| Cost |  |  |  |  |  |  |  |  |
| At start of period |  | 543,130
| On revaluations |  | 93,794
| At end of period |  | 636,924
| Carrying amount: |  |  |  |  |  |  |  |
| At start of period |  | 543,130
| At end of period |  | 636,924

5. | Related Party Transactions |  |  |  |  |  |  |  |
| At year end amounts owed from directors, shareholders and their close family members totalled £170,000 (2025: £170,000). Interest received in relation to this loan totalled £5,654 (2024: £6,188). |