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Registered number: 7740505
TURNKEY CREATIONS LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED 31 DECEMBER 2024
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TURNKEY CREATIONS LIMITED
REGISTERED NUMBER: 7740505
BALANCE SHEET
AS AT 31 DECEMBER 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 December 2025.
The notes on pages 2 to 6 form part of these financial statements.
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TURNKEY CREATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
Turnkey Creations Limited is a private company, limited by shares, incorporated in England & Wales, registered number 7740505. The registered office is 1a St Mark's Road, Teddington, England, TW11 9DE.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. 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 have been prepared in GBP, rounded to the nearest pound.
The following principal accounting policies have been applied:
The Company’s statement of financial position reflects a net deficit in shareholders’ funds. The directors have assessed the Company’s expected cash flows as at the date of approving these financial statements. Based on this assessment, the directors have a reasonable expectation that the Company has sufficient resources to continue operating and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, the directors consider it appropriate to prepare the financial statements on a going concern basis.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue is recognised by the Company in respect of rents receivable.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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TURNKEY CREATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Property rented to other group entities and accounted for under the cost model is stated at historical cost less accumulated depreciation and any accumulated impairment losses.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
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 profit or loss.
The company now depreciates freehold property over a 50-year useful life. This represents a change in accounting estimate from the previous assumption of an indefinite useful life. The change has been applied prospectively in accordance with FRS 102 Section 1A. The impact of this change on the current year’s financial statements is reflected in the depreciation charge for the period. Comparative figures have not been restated, as changes in estimates are accounted for in the period of change and future periods only.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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TURNKEY CREATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
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The average monthly number of employees, including directors, during the year was 1 (2023 - 1).
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Charge for the year on owned assets
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Amounts owed by group undertakings
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Cash and cash equivalents
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TURNKEY CREATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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8.Other financial commitments
On 29 October 2024, the Company entered into an Accession Deed to a Composite Guarantee and Debenture dated 31 May 2024, under which it granted fixed and floating charges over its assets, including its freehold property. This security was provided as part of a group financing arrangement and covers all present and future assets of the Company to secure the obligations of the Company and other group entities under the agreement.
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Related party transactions
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During the accounting year, the Company earned rent of £36,000 (2023 - £36,000) from a fellow group group company.
As of the balance sheet date, the Company had amounts receivable of £109,499 (2023 : £15,000) and payable of £1,307,421 (2023 : £1,223,659) with fellow group companies. These balances are interest-free and payable on demand.
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The Company's former ultimate controlling party was Ms Elizabeth Hogarth, by virtue of her ownership of 100% of its issued share capital.
On 29 October 2024, Teddol Limited became the Company’s immediate parent. Teddol Limited is incorporated in the United Kingdom with its registered office at 1a St Mark’s Road, Teddington, England, TW11 9DE.
On the same date, Pulford Trading Limited became the Company’s ultimate controlling party. Pulford Trading Limited is incorporated in the United Kingdom with its registered office at 10 Lower Thames Street, London, EC3R 6AF.
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First time adoption of FRS 102 1A
The policies applied under the entity's previous accounting framework are not materially different to FRS 102 1A and have not impacted on equity or profit or loss.
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TURNKEY CREATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.
The audit report was signed on 17 December 2025 by David Alesbury (Senior statutory auditor) on behalf of Feltons.
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