TURING GR LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2027-05-10 (in 1y)
Last made up 2026-04-26
Watchouts
Cash
£10M
Latest balance sheet
Net assets
-£12M
Equity attributable
Employees
0
Average over period
Profit before tax
-£89M
Period ending 2024-12-31
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
The directors are satisfied with the financial position of the group at the year end subject to the potential and enacted legislative changes disclosed in the critical accounting estimates and assumptions section of note 1 13 which potentially could lead to a significant adverse impact on the business such that it may maternally impair the group's ability to continue as a Going Concern. The auditor states "a material uncertainty exists that may cast significant doubt on the Group's and Company's ability to continue as a going concern Our opinion is not modified in respect of this matter".
Net assets
2-year trend · vs Real Estate median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | £6,955,030 | £7,138,232 | |
| Operating profit | £3,769,302 | £5,628,791 | |
| Profit before tax | -£82,345,420 | -£88,588,723 | |
| Net profit | -£62,257,768 | -£66,970,723 | |
| Cash | £9,619,866 | £10,136,092 | |
| Total assets less current liabilities | £427,020,840 | £340,104,698 | |
| Net assets | £55,412,250 | -£11,558,473 | |
| Equity | £55,412,250 | -£11,558,473 | |
| Average employees | 0 | 0 | |
| Wages | — | — |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | 54.2% | 78.9% | |
| Net margin | -895.1% | -938.2% | |
| Return on capital employed | 0.9% | 1.7% | |
| Current ratio | 1.63x | 1.61x | |
| Interest cover | 0.50x | 0.73x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- RSM UK Audit LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“The directors are satisfied with the financial position of the group at the year end subject to the potential and enacted legislative changes disclosed in the critical accounting estimates and assumptions section of note 1 13 which potentially could lead to a significant adverse impact on the business such that it may maternally impair the group's ability to continue as a Going Concern. The auditor states "a material uncertainty exists that may cast significant doubt on the Group's and Company's ability to continue as a going concern Our opinion is not modified in respect of this matter".”
Group structure
- TURING GR LIMITED · parent
- Vega GR Limited 100%
- Vega Holdco 1 Limited 100%
- Vega Holdco 2 Limited 100%
- Vega Holdco 3 Limited 100%
- Vega Holdco 4 Limited 100%
- Vega Holdco 5 Limited 100%
- Vega Holdco 6 Limited 100%
- Lamda GR Limited 100%
- Fairthatch GR Limited 100%
- Whitelake Properties Investment Limited 100%
- Vega Ground Rents No 9 Limited 100%
- Vega Ground Rents No 10 Limited 100%
- Vega 603 Limited 100%
- Vega 1001 Limited 100%
- Vega GR Partner 1 Limited 100%
- Vega GR Partner 2 Limited 100%
- Vega Ground Rents No 3 LLP 100%
- Vega Ground Rents No 4 LLP 100%
- Vega Ground Rents No 6 LLP 100%
- Zeta GR Limited 100%
- Fairhold Crescent Limited 100%
- Calibri GR Limited 100%
- Vega Properties No3 Limited 100%
Significant events
- “Leasehold Reform (Ground Rent) Act 2022, which restricts ground rents on new leases to a peppercorn and limits the ability of the freeholder and leaseholder to agree ground rents during the extension period of existing leases.”
- “Leasehold and Freehold Reform Act 2024, which introduces changes that will reduce the premium payable to freeholders when leaseholders exercise their statutory rights to enfranchisement or lease extension, but which requires secondary legislation before its provisions take effect.”
- “Government's stated intention to introduce a further Bill expected to include a cap on the amount of ground rent that can be charged on existing leases.”
- “In October 2025, the High Court issued its judgment dismissing the judicial review brought by industry participants challenging aspects of the Government's leasehold reform measures contained in the 2024 Act.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
5 active · 1 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| LAU, Daniel | Secretary | 2019-07-10 | — | — |
| HALLAM, Paul | Director | 2019-07-10 | Nov 1975 | British |
| MCGILL, Christopher Charles | Director | 2017-04-27 | Apr 1960 | British |
| PROCTER, William Kenneth | Director | 2017-04-27 | May 1953 | British |
| WATSON, Michael David | Director | 2021-02-22 | Dec 1958 | British |
Show 1 resigned officer
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| HALLAM, Paul | Secretary | 2017-04-27 | 2019-07-10 |
Ownership
Persons with significant control
Filing timeline
Last 20 of 35 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-05-01 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-04-14 | CH01 | officers | Change person director company with change date | |
| 2026-04-13 | CH01 | officers | Change person director company with change date | |
| 2026-03-24 | CH01 | officers | Change person director company with change date | |
| 2026-03-24 | CH01 | officers | Change person director company with change date | |
| 2026-03-24 | CH01 | officers | Change person director company with change date | |
| 2026-01-19 | AA | accounts | Accounts with accounts type group | |
| 2025-04-30 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-08-18 | AA | accounts | Accounts with accounts type group | |
| 2024-04-30 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-10-05 | AA | accounts | Accounts with accounts type group | |
| 2023-05-09 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-10-03 | AA | accounts | Accounts with accounts type group | |
| 2022-05-25 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-10-04 | AA | accounts | Accounts with accounts type group | |
| 2021-05-18 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-04-13 | AA | accounts | Accounts with accounts type group | |
| 2021-03-09 | AP01 | officers | Appoint person director company with name date | |
| 2020-12-29 | AA01 | accounts | Change account reference date company previous shortened | |
| 2020-05-13 | CS01 | confirmation-statement | Confirmation statement with no updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 7
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.
Year-on-year
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31