Company Registration No. 15072708 (England and Wales)
NEW TURBULENCE MEDIA LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
NEW TURBULENCE MEDIA LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
NEW TURBULENCE MEDIA LTD
Company Registration No. 15072708
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
Notes
£
£
Current assets
Debtors
3
298
Cash at bank and in hand
8,719
9,017
Creditors: amounts falling due within one year
4
(2,557)
Net current assets
6,460
Capital and reserves
Called up share capital
5
100
Profit and loss reserves
6,360
Total equity
6,460
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 30 May 2025 and are signed on its behalf by:
A Stearne
Director
NEW TURBULENCE MEDIA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024
- 2 -
1
Accounting policies
Company information
New Turbulence Media Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 9 Bridge Street, Walton on Thames, Surrey, KT12 1AE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Reporting period
The accounting period has been extended and covers the period from 15/08/2023 to 31/08/2024.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.
1.6
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
NEW TURBULENCE MEDIA LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 AUGUST 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
Number
Total
2
3
Debtors
2024
Amounts falling due within one year:
£
Other debtors
298
4
Creditors: amounts falling due within one year
2024
£
Taxation and social security
1,507
Other creditors
1,050
2,557
5
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
100 Ordinary Shares of £1 each
100
100