Acorah Software Products - Accounts Production 16.0.110 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 06849316 Mr Euan Kelway-Bamber Mrs Laura Kelway-Bamber Mr Colin Whitelaw false iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06849316 2023-05-31 06849316 2024-05-31 06849316 2023-06-01 2024-05-31 06849316 frs-core:CurrentFinancialInstruments 2024-05-31 06849316 frs-core:Non-currentFinancialInstruments 2024-05-31 06849316 frs-core:ComputerEquipment 2024-05-31 06849316 frs-core:ComputerEquipment 2023-06-01 2024-05-31 06849316 frs-core:ComputerEquipment 2023-05-31 06849316 frs-core:NetGoodwill 2024-05-31 06849316 frs-core:NetGoodwill 2023-06-01 2024-05-31 06849316 frs-core:NetGoodwill 2023-05-31 06849316 frs-core:PlantMachinery 2024-05-31 06849316 frs-core:PlantMachinery 2023-06-01 2024-05-31 06849316 frs-core:PlantMachinery 2023-05-31 06849316 frs-core:ShareCapital 2024-05-31 06849316 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 06849316 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 06849316 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 06849316 frs-bus:SmallEntities 2023-06-01 2024-05-31 06849316 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 06849316 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 06849316 1 2023-06-01 2024-05-31 06849316 frs-bus:Director1 2023-06-01 2024-05-31 06849316 frs-bus:Director2 2023-06-01 2024-05-31 06849316 frs-bus:CompanySecretary1 2023-06-01 2024-05-31 06849316 frs-countries:EnglandWales 2023-06-01 2024-05-31 06849316 2022-05-31 06849316 2023-05-31 06849316 2022-06-01 2023-05-31 06849316 frs-core:CurrentFinancialInstruments 2023-05-31 06849316 frs-core:Non-currentFinancialInstruments 2023-05-31 06849316 frs-core:ShareCapital 2023-05-31 06849316 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 06849316
Turnkey Trading Limited
Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06849316
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 64,500 -
64,500 -
CURRENT ASSETS
Stocks 6 10,525 11,479
Debtors 7 70,595 119,192
Cash at bank and in hand 4,956 15,240
86,076 145,911
Creditors: Amounts Falling Due Within One Year 8 (35,385 ) (32,545 )
NET CURRENT ASSETS (LIABILITIES) 50,691 113,366
TOTAL ASSETS LESS CURRENT LIABILITIES 115,191 113,366
Creditors: Amounts Falling Due After More Than One Year 9 (9,917 ) (16,917 )
NET ASSETS 105,274 96,449
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 105,174 96,349
SHAREHOLDERS' FUNDS 105,274 96,449
Page 1
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For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Euan Kelway-Bamber
Director
21 November 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Turnkey Trading Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06849316 . The registered office is Unit 10-11, St David's Industrial Estate, Pengam, Blackwood, NP12 3SW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been applied consistently to all years presented unless otherwise stated.
2.2. Turnover
Turnover represents the value, net of Value Added Tax and discounts, of goods supplied to customers and work carried out in respect of services provided to customers.

Turnover from the sale of goods and services is recognised when the significant risks and rewards arising from the ownership of the finished goods have been transferred to the buyer.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It was amortised to profit and loss account over its estimated economic life of two years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives. 
Tangible fixed assets have been fully depreciated. 
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
2.6. Taxation
Tax on profit represents the sum of tax currently payable and tax deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 2 2
2 2
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4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2023 600
As at 31 May 2024 600
Amortisation
As at 1 June 2023 600
As at 31 May 2024 600
Net Book Value
As at 31 May 2024 -
As at 1 June 2023 -
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 June 2023 4,287 2,135 6,422
Additions - 64,500 64,500
Disposals (4,287 ) (2,135 ) (6,422 )
As at 31 May 2024 - 64,500 64,500
Depreciation
As at 1 June 2023 4,287 2,135 6,422
Disposals (4,287 ) (2,135 ) (6,422 )
As at 31 May 2024 - - -
Net Book Value
As at 31 May 2024 - 64,500 64,500
As at 1 June 2023 - - -
Cost or valuation as at 31 May 2024 represented by:
Plant & Machinery Computer Equipment Total
£ £ £
At valuation - 64,500 64,500
- 64,500 64,500
The e-commerce website is stated at its fair value at the reporting date.  Gains or losses arising from changes in the fair value of the website are included in profit or loss for the period in which they arise.  The website was valued on an open market basis at 31 May 2024 by the directors.  
6. Stocks
2024 2023
£ £
Finished goods 10,525 11,479
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 3,736 2,752
Other debtors 66,859 116,440
70,595 119,192
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 8,498 4,378
Bank loans and overdrafts 7,000 7,000
Corporation tax 2,070 3,423
VAT 5,806 5,733
Other creditors 12,011 12,011
35,385 32,545
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 9,917 16,917
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Related Party Transactions
The directors, Mr E Kelway-Bamber and Mrs L Kelway-Bamber, are also directors of The Headboard Workshop Limited.
During the year, the company made loans totalling £116,340 (2023: £82,000) to The Headboard Workshop Limited and received repayments totalling £22,000 (2023: £17,000) from The Headboard Workshop Limited. The company also received materials from The Headboard Workshop Limited at an arms length cost of £18,500 (2023: £8,000) and supplied materials to The Headboard Workshop Limited at an arms length cost of £Nil (2023: £1,000l).  The company paid for motor and travel costs of £109 (2023: Nil) on behalf of The Headboard Workshop Limited.  The website revaluation of £64,500 (2023: Nil) covers costs incurred by The Headboard Workshop Limited.
Management charges of £61,000 (2023: £53,350) were charged to the company by The Headboard Workshop Limited during the year ended 31 May 2024.
At the balance sheet date, £66,859 (2023: £116,410) was owed to the company by The Headboard Workshop Limited, and this is shown in other debtors. 
12. Controlling Party
The company is controlled by Mr E Kelway-Bamber and Mrs L Kelway-Bamber.
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