REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 September 2021 |
for |
Turquoise Television Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 September 2021 |
for |
Turquoise Television Ltd |
Turquoise Television Ltd (Registered number: 11564557) |
Contents of the Financial Statements |
for the Year Ended 30 September 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Turquoise Television Ltd |
Company Information |
for the Year Ended 30 September 2021 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
39 Long Acre |
London |
WC2E 9LG |
Turquoise Television Ltd (Registered number: 11564557) |
Balance Sheet |
30 September 2021 |
30.9.21 | 30.9.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash in hand |
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 |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
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. |
Turquoise Television Ltd (Registered number: 11564557) |
Balance Sheet - continued |
30 September 2021 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Turquoise Television Ltd (Registered number: 11564557) |
Notes to the Financial Statements |
for the Year Ended 30 September 2021 |
1. | STATUTORY INFORMATION |
Turquoise Television Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Revenue represents amounts receivable for the development of television projects and production activities net of VAT and trade discounts during the period. Revenue in respect of productions in progress is held as deferred income until the production is delivered. Upon delivery, it is recognised in the Income Statement. |
Tangible fixed assets |
Office equipment, plant and machinery etc - 33% on cost |
Work in progress |
Work in progress relates to direct production costs incurred on productions in progress at the Balance sheet date. The costs are recorded at the lower of cost and net realisable value, and are net of Value Added Tax. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
Turquoise Television Ltd (Registered number: 11564557) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2021 |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Going concern |
During the period, the Company made a loss of £38,161 (2020 - £6,340) and at the year end the Company had net liabilities of £37,797 (2020 - £38,810). The director has reviewed cashflow forecasts and budgets and have determined that the Company has sufficient resources to continue its operations for at least 12 months from the date of approval of these financial statements. The director therefore considers it appropriate to prepare the financial statements on a going concern basis. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Turquoise Television Ltd (Registered number: 11564557) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2021 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 October 2020 |
and 30 September 2021 |
DEPRECIATION |
At 1 October 2020 |
Charge for year |
At 30 September 2021 |
NET BOOK VALUE |
At 30 September 2021 |
At 30 September 2020 |
5. | STOCKS |
30.9.21 | 30.9.20 |
£ | £ |
Work-in-progress |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.21 | 30.9.20 |
£ | £ |
Other debtors |
VAT |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.21 | 30.9.20 |
£ | £ |
Trade creditors |
Social security and other taxes |
VAT | - | 18,145 |
Other creditors |
Accruals and deferred income |
Accrued expenses |
Turquoise Television Ltd (Registered number: 11564557) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2021 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.9.21 | 30.9.20 |
£ | £ |
Other creditors |