What my instructor told me was that if you do a lifesaver, a clock starts ticking, and 3 seconds means it's expired. So, he said, on the U-turn you can either start moving forward then do the lifesaver just before you turn the handlebars, or you can do a lifesaver, move forward then turn the handlebars. In the latter case, he said, the safe thing to do is to do 2 lifesavers, not 1. In other words, a lifesaver just before you set the bike in motion, and another lifesaver just before you turn the handlebars, bearing in mind that lifesavers expire. From what you wrote, it seems the examiner deemed the lifesaver you made to have completely expired, rather than having been late. This may be justified on the basis that if you did a lifesaver just before a U-turn on a road with a 30mph limit, you had better start your U-turn quickly, because a car may have appeared in just a couple of seconds, which would mean that although conditions were safe when you did your lifesaver, the situation has changed and it's now unsafe.