TURNBULL (POTATO SALES) LIMITED


Directors	TURNBULL, Jane Elizabeth
	TURNBULL, William John


Company Secretary	TURNBULL, William John


Registered Address	Burghwallis Grange Off Green Lane
	Skellow
	Nr. Doncaster
	DN6 8JX


Registered Number	01131818 (England and Wales)

Statement of Financial Position
30 June 2026

	Notes	2026		2025
		£	£	£	£
Fixed assets
Investments	4		1,791,575		1,490,867
Investment property	3		5,366,250		4,890,750
			7,157,825		6,381,617
Current assets
Debtors	5	46,293		43,914
Cash at bank and on hand		181,745		72,567
		228,038		116,481
Creditors amounts falling due within one year	6	(67,920)		(85,764)
Net current assets (liabilities)			160,118		30,717
Total assets less current liabilities			7,317,943		6,412,334
Provisions for liabilities	7		(1,146,000)		(1,027,000)
Net assets			6,171,943		5,385,334
Capital and reserves
Called up share capital			100		100
Profit and loss account			6,171,843		5,385,234
Shareholders' funds			6,171,943		5,385,334

The company was entitled to exemption from audit for this reporting period 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 accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 13 August 2026, and are signed on its behalf by:

TURNBULL, William John
Director
Registered Company No. 01131818

TURNBULL (POTATO SALES) LIMITED

Notes to the Financial Statements
for the year ended 30 June 2026

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis, as modified by the inclusion of investment property and listed investments at fair value, unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared under the historical cost convention on a going concern basis, as modified by the inclusion of investment property and listed investments at fair value,  unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

	Investments
	Listed investments are measured at fair value where the difference between cost and fair value is material. Changes in fair value are included in the Income Statement.

	Investment property
	Investment property is carried at fair value determined by external valuers and derived from the current market rents and investment property yields for comparable real estate. These values are adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Financial instruments
	The company 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, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	2		2

3.	Investment property
	Investment properties were revalued on an existing use basis in January 2026. The agricultural properties were valued by Cooper Rural Limited and the commercial and other properties by Malcolm Stuart Property Consultants LLP. In the opinion of the directors the open market value of the investment properties at the balance sheet date is not significantly different to the disclosed amount. The historical cost of the investment properties was £782,526 (2025 - £782,526).

Investment property

Investment properties were revalued on an existing use basis in January 2026. The agricultural properties were valued by Cooper Rural Limited and the commercial and other properties by Malcolm Stuart Property Consultants LLP.

In the opinion of the directors the open market value of the investment properties at the balance sheet date is not significantly different to the disclosed amount.

The historical cost of the investment properties was £782,526 (2025 - £782,526).


		£
	Fair value at 01 July 25	4,890,750
	Fair value adjustments	475,500
	At 30 June 26	5,366,250

4.	Fixed asset investments
	The original cost of the investments was £1,271,921 (2025 - £1,271,921).

	Other investments¹	Total
	£	£
Cost or valuation
At 01 July 25	1,490,867	1,490,867
Revaluations	300,708	300,708
At 30 June 26	1,791,575	1,791,575
Net book value
At 30 June 26	1,791,575	1,791,575
At 30 June 25	1,490,867	1,490,867

	Notes
	¹Other investments other than loans

5.	Debtors: amounts due within one year

	2026	2025
	£	£
Trade debtors / trade receivables	32,605	31,429
Other debtors	3,189	4,920
Prepayments and accrued income	10,499	7,565
Total	46,293	43,914

6.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	8,152	5,687
Taxation and social security	53,718	75,412
Accrued liabilities and deferred income	6,050	4,665
Total	67,920	85,764

7.	Provisions for liabilities
	Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate of the settlement can be made. The provision for deferred tax arises from the fair value adjustments on investment properties. Deferred tax has been provided at a rate of 25% (2025: 25%), this being the substantively enacted corporation tax rate at the reporting date.

Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate of the settlement can be made.    

The provision for deferred tax arises from the fair value adjustments on investment properties. Deferred tax has been provided at a rate of 25% (2025: 25%), this being the substantively enacted corporation tax rate at the reporting date.

	2026	2025
	£	£
Net deferred tax liability (asset)	1,146,000	1,027,000
Total	1,146,000	1,027,000