| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 |
| FOR |
| Turns Property Ltd |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 |
| FOR |
| Turns Property Ltd |
| Turns Property Ltd (Registered number: 11700935) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 30 November 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 | to | 3 |
| Notes to the Financial Statements | 4 | to | 7 |
| Turns Property Ltd |
| COMPANY INFORMATION |
| for the year ended 30 November 2025 |
| Director: |
| Registered office: |
| Registered number: |
| Accountants: |
| 129 North Hill |
| Plymouth |
| Devon |
| PL4 8JY |
| Turns Property Ltd (Registered number: 11700935) |
| BALANCE SHEET |
| 30 November 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Investment property | 5 |
| Current assets |
| Debtors | 6 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 7 |
| Net current liabilities | ( |
) | ( |
) |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
8 |
| Net liabilities | ( |
) | ( |
) |
| Capital and reserves |
| Called up share capital | 9 |
| Retained earnings | ( |
) | ( |
) |
| Shareholders' funds | ( |
) | ( |
) |
| Turns Property Ltd (Registered number: 11700935) |
| BALANCE SHEET - continued |
| 30 November 2025 |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the director and authorised for issue on |
| Turns Property Ltd (Registered number: 11700935) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 30 November 2025 |
| 1. | STATUTORY INFORMATION |
| Turns Property Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets. |
| Going Concern |
| The company has liabilities in excess of assets at the balance sheet date. The accounts have been prepared on a going concern basis on the basis that director's loans are postponed in favour of other creditors. |
| Turnover |
| This represents rents received in the period as adjusted for amounts in advance/arrears at the balance sheet date. |
| Tangible fixed assets |
| Depreciation is provided to write off each asset over its estimated useful economic life of: |
| * Motor Vehicles - 25% reducing balance |
| * Office Equipment - 20% reducing balance |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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. |
| Turns Property Ltd (Registered number: 11700935) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 November 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 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. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Turns Property Ltd (Registered number: 11700935) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 November 2025 |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold | Motor | Office |
| property | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| Cost |
| At 1 December 2024 |
| Additions |
| At 30 November 2025 |
| Depreciation |
| At 1 December 2024 |
| Charge for year |
| At 30 November 2025 |
| Net book value |
| At 30 November 2025 |
| At 30 November 2024 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| Cost |
| At 1 December 2024 |
| and 30 November 2025 |
| Net book value |
| At 30 November 2025 |
| At 30 November 2024 |
| The director believes the value of the properties at the balance sheet date are equal to their original cost. |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Other debtors |
| Turns Property Ltd (Registered number: 11700935) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 November 2025 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 585,685 | 404,120 |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 10. | RELATED PARTY DISCLOSURES |
| At the balance sheet date the company owed the following amounts to related parties: |
| Name | Relationship | Amount |
| L Le Poidevin | Director and shareholder | £201,335 |
| The loan has no set date for repayment and is made on an interest free basis. |
| During the period, the company acquired an investment property from the director, Louis Le Poidevin at market value of £215,000. |
| 11. | ULTIMATE CONTROLLING PARTY |
| The controlling party is L Le Poidevin. |