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REGISTERED NUMBER: 11564557 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

Turquoise Television Ltd

Turquoise Television Ltd (Registered number: 11564557)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Turquoise Television Ltd

Company Information
for the Year Ended 30 September 2023







DIRECTOR: M R Sigsworth





REGISTERED OFFICE: 39 Long Acre
London
WC2E 9LG





REGISTERED NUMBER: 11564557 (England and Wales)





ACCOUNTANTS: We`ll Mind Your Own Business LTD
39 Long Acre
London
WC2E 9LG

Turquoise Television Ltd (Registered number: 11564557)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,260 8,883

CURRENT ASSETS
Stocks 5 100,378 346,176
Debtors 6 6,557 27,717
Cash in hand 3,856 203,839
110,791 577,732
CREDITORS
Amounts falling due within one year 7 251,484 731,139
NET CURRENT LIABILITIES (140,693 ) (153,407 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(135,433

)

(144,524

)

CREDITORS
Amounts falling due after more than
one year

8

20,552

29,090
NET LIABILITIES (155,985 ) (173,614 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (156,085 ) (173,714 )
(155,985 ) (173,614 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

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 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 director and authorised for issue on 28 March 2024 and were signed by:





M R Sigsworth - Director


Turquoise Television Ltd (Registered number: 11564557)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Turquoise Television Ltd 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment, plant and machinery etc - 33% on cost
Fixtures and fittings - 33% on cost

Work in progress
Work in progress, representing completed programmes and productions in progress, include an attributable portion of overheads and are stated at the lower of cost and net realisable value. Production costs are released to the profit and loss account on the delivery of programmes to the broadcaster, at which time the turnover is also recognised.

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 2023

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
For most employees, the company contributes to Nest, the workplace pension scheme set up by the government. For some employees, the company pays into the employee-nominated personal pension schemes. The assets of the schemes are held separately from the companies. Contributions payable are charged to profit or loss in the period to which they relate.

Creditors
Short-term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at fair value, net of any transaction costs, and subsequently measured at amortised cost determined using the effective interest method.

Cost recognition
Development Costs
Development costs are generally expensed as incurred to the income statement. Where development funding has been received, the revenue is recognised on a cost-plus basis. However, if a firm commitment exists which indicates that current and future expenses will be recoverable, development costs are capitalised in the costs of a programme. These costs are capitalised in WIP as a part of a specific project expected to be set for production.

Production Costs
Productions costs are ordinarily accumulated by individual programmes in four chronological steps: acquisition of story rights; pre-production (which includes script development, costume design, set design, and construction); principal photography (which includes shooting the production); and post-production (which includes sound synchronisation and editing); culminating in the completed master negative. All costs are capitalised to Work in Progress (WIP) until the point at which the WIP balance is recognised or consumed on the income statement, generally as delivery of the episodes occurs.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

Turquoise Television Ltd (Registered number: 11564557)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 October 2022
and 30 September 2023 8,456 1,623 6,631 16,710
DEPRECIATION
At 1 October 2022 406 1,161 6,260 7,827
Charge for year 2,790 462 371 3,623
At 30 September 2023 3,196 1,623 6,631 11,450
NET BOOK VALUE
At 30 September 2023 5,260 - - 5,260
At 30 September 2022 8,050 462 371 8,883

5. STOCKS
30.9.23 30.9.22
£    £   
Work-in-progress 100,378 346,176

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors - 23,315
Other debtors 963 -
VAT 1,041 -
Prepayments and accrued income 4,553 4,402
6,557 27,717

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade creditors 3,794 29,500
Social security and other taxes - 5,165
VAT - 36,765
Other creditors 116,318 30,920
Accruals and deferred income 130,372 626,889
Accrued expenses 1,000 1,900
251,484 731,139

Turquoise Television Ltd (Registered number: 11564557)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.9.23 30.9.22
£    £   
Other creditors 20,552 29,090