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REGISTERED NUMBER: 05677933 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

TURNKEY PRODUCTIONS LIMITED

TURNKEY PRODUCTIONS LIMITED (REGISTERED NUMBER: 05677933)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


TURNKEY PRODUCTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: Mr S Muzolf
Mrs C Muzolf





SECRETARY: Mr S Muzolf





REGISTERED OFFICE: 4 Fenice Court
Phoenix Business Park
Eaton Socon
St. Neots
Cambridgeshire
PE19 8EP





REGISTERED NUMBER: 05677933 (England and Wales)





ACCOUNTANTS: Davey Grover Limited
Chartered Accountants
4 Fenice Court
Phoenix Business Park
Eaton Socon
St. Neots
Cambridgeshire
PE19 8EP

TURNKEY PRODUCTIONS LIMITED (REGISTERED NUMBER: 05677933)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,416 7,221

CURRENT ASSETS
Debtors 5 986 851
Cash at bank 279 39
1,265 890
CREDITORS
Amounts falling due within one year 6 83,787 103,115
NET CURRENT LIABILITIES (82,522 ) (102,225 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(77,106

)

(95,004

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (77,206 ) (95,104 )
SHAREHOLDERS' FUNDS (77,106 ) (95,004 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

TURNKEY PRODUCTIONS LIMITED (REGISTERED NUMBER: 05677933)

STATEMENT OF FINANCIAL POSITION - continued
31 JANUARY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2023 and were signed on its behalf by:





Mr S Muzolf - Director


TURNKEY PRODUCTIONS LIMITED (REGISTERED NUMBER: 05677933)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1. STATUTORY INFORMATION

Turnkey Productions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The principal accounting policies adopted in these financial statements have remained unchanged from the previous year, and have therefore been consistently applied.

The accounts have been prepared on a going concern basis on the assumption that the support of the company's directors will continue. On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustment that would result from a withdrawal of the directors support.

Revenue
Revenue is recognised to the extent that it is probable that the economic benefit will flow to the Company and the revenue can be reliably measured. The following criteria must also be met before revenue is recognised:

Supply of goods
Revenue is recognised when goods are delivered and supplied.

Hire of premises
Revenue is recognised for the period of the rental.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Repairs and maintenance of assets are charged to the Statement of comprehensive income during the period in which they are incurred.

Depreciation is charged so as to allocate the cost or valuation of assets less their residual value, over their estimated useful lives on the following basis:

Plant and machinery - 25% reducing balance.
Computers - 33.3% on cost.
Property Improvements - over the term of the lease.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.


TURNKEY PRODUCTIONS LIMITED (REGISTERED NUMBER: 05677933)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

2. ACCOUNTING POLICIES - continued
Current and deferred taxation
The tax expense for the year comprises of current and deferred tax and is recognised in the Statement of comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

The current tax creditor is recognised in creditors within the balance sheet.

Deferred balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, expect that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowance have been met.

Deferred tax balances are not recognised in respect of permanent differences.

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.

Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the yearyear end and that are expected to apply to the reversal of the timing difference.

Deferred tax is presented within provisions for liabilities at the balance sheet date.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 statement of financial position date.

Operating leases
Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight line basis over the period of the lease.

Debtors
Short term debtors are measured at transaction price, less impairment.

Creditors
Short term creditors are measured at transaction price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

TURNKEY PRODUCTIONS LIMITED (REGISTERED NUMBER: 05677933)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2022
and 31 January 2023 53,726
DEPRECIATION
At 1 February 2022 46,505
Charge for year 1,805
At 31 January 2023 48,310
NET BOOK VALUE
At 31 January 2023 5,416
At 31 January 2022 7,221

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 986 851

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 83,787 103,115

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year - 13,248

8. RELATED PARTY DISCLOSURES

Included within other creditors is an interest free loan provided by Mr and Mrs Muzolf, at 31 January 2023 they were owed £81,411 (2022 £101,775).

Mr S Muzolf ultimately controls the Company.