Company registration number 03263349 (England and Wales)
TURNSTONE CAMBRIDGE DEVELOPMENTS LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
TURNSTONE CAMBRIDGE DEVELOPMENTS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
TURNSTONE CAMBRIDGE DEVELOPMENTS LTD
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment property
4
3,211,833
3,211,833
Current assets
Cash at bank and in hand
68,902
69,626
Creditors: amounts falling due within one year
5
(2,388,443)
(2,586,818)
Net current liabilities
(2,319,541)
(2,517,192)
Net assets
892,292
694,641
Capital and reserves
Called up share capital
6
72,594
72,594
Share premium account
176,288
176,288
Profit and loss reserves
643,410
445,759
Total equity
892,292
694,641

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 August 2026 and are signed on its behalf by:
C W Goldsmith
Director
Company registration number 03263349 (England and Wales)
TURNSTONE CAMBRIDGE DEVELOPMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -
1
Accounting policies
Company information

Turnstone Cambridge Developments Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Suite 2, Bishop Bateman Court, Thompsons Lane, Cambridge, Cambridgeshire, United Kingdom, CB5 8AQ.

1.1
Accounting convention

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. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Other income

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

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.

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.

TURNSTONE CAMBRIDGE DEVELOPMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 3 -
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.

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.

TURNSTONE CAMBRIDGE DEVELOPMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -
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.

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.

3
Employees

The average monthly number of persons (including directors) employed and paid by the company during the year was:

2025
2024
Number
Number
Total
0
0
4
Investment property
2025
£
Fair value
At 1 January 2025 and 31 December 2025
3,211,833
5
Creditors: amounts falling due within one year
2025
2024
£
£
Amounts owed to group undertakings
2,293,340
2,518,807
Corporation tax
27,508
-
0
Other taxation and social security
11,440
12,036
Other creditors
56,155
55,975
2,388,443
2,586,818
TURNSTONE CAMBRIDGE DEVELOPMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 5 -
6
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
7,259,400
7,259,400
72,594
72,594
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Mr Mark Jackson FCA DChA
Statutory Auditor:
Azets Audit Services
Date of audit report:
17 August 2026
8
Operating lease commitments

At the reporting end date the company had contracted with tenants for the following minimum lease payments:

2025
2024
Future amounts receivable under operating leases:
£
£
Total commitments
694,840
876,254
9
Related party transactions

At the year end Turnstone Cambridge Developments Limited owed £2,293,340 (20 24 - £2,518,806 owed by) to Turnstone Estates Limited. Turnstone Cambridge Developments Limited is a 100% owned subsidiary of Turnstones Estates Limited.

10
Parent company

The company is a wholly owned subsidiary of Turnstone Estates Limited, a company registered in England and Wales.

The ultimate controlling party is C W Goldsmith by virtue of his majority shareholding in the parent company.

2025-12-31 2025-01-01 false false false 17 August 2026 CCH Software CCH Accounts Production 2026.100 No description of principal activity C Goldsmith First Inital T Deacon First Inital Y Gregory C W Goldsmith 03263349 2025-01-01 2025-12-31 03263349 2025-12-31 03263349 2024-12-31 03263349 core:WithinOneYear 2025-12-31 03263349 core:WithinOneYear 2024-12-31 03263349 core:CurrentFinancialInstruments 2025-12-31 03263349 core:CurrentFinancialInstruments 2024-12-31 03263349 core:ShareCapital 2025-12-31 03263349 core:ShareCapital 2024-12-31 03263349 core:SharePremium 2025-12-31 03263349 core:SharePremium 2024-12-31 03263349 core:RetainedEarningsAccumulatedLosses 2025-12-31 03263349 core:RetainedEarningsAccumulatedLosses 2024-12-31 03263349 core:ShareCapitalOrdinaryShareClass1 2025-12-31 03263349 core:ShareCapitalOrdinaryShareClass1 2024-12-31 03263349 bus:Director1 2025-01-01 2025-12-31 03263349 2024-01-01 2024-12-31 03263349 2024-12-31 03263349 bus:OrdinaryShareClass1 2025-01-01 2025-12-31 03263349 bus:OrdinaryShareClass1 2025-12-31 03263349 bus:OrdinaryShareClass1 2024-12-31 03263349 bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 03263349 bus:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 03263349 bus:FRS102 2025-01-01 2025-12-31 03263349 bus:Audited 2025-01-01 2025-12-31 03263349 bus:Director2 2025-01-01 2025-12-31 03263349 bus:Director3 2025-01-01 2025-12-31 03263349 bus:CompanySecretary1 2025-01-01 2025-12-31 03263349 bus:FullAccounts 2025-01-01 2025-12-31 xbrli:pure xbrli:shares iso4217:GBP