The Boy From Far Away Limited - Period Ending 2018-10-31
The Boy From Far Away Limited - Period Ending 2018-10-31
Registration number:
The Boy From Far Away Limited
for the Year Ended 31 October 2018
Accountants and Tax Consultants
Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT
The Boy From Far Away Limited
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Financial Statements |
The Boy From Far Away Limited
Company Information
Director |
J C Hawkins |
Registered office |
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Accountants |
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Page 1 |
Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
The Boy From Far Away Limited
for the Year Ended 31 October 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Boy From Far Away Limited for the year ended 31 October 2018 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of The Boy From Far Away Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of The Boy From Far Away Limited and state those matters that we have agreed to state to the Board of Directors of The Boy From Far Away Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Boy From Far Away Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that The Boy From Far Away Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of The Boy From Far Away Limited. You consider that The Boy From Far Away Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of The Boy From Far Away Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Accountants and Tax Consultants
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT
Page 2 |
The Boy From Far Away Limited
(Registration number: 09825066)
Balance Sheet as at 31 October 2018
Note |
2018 |
2017 |
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Fixed assets |
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Intangible assets |
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Current assets |
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Debtors |
- |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current (liabilities)/assets |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Profit and loss account |
( |
( |
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Total equity |
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For the financial year ending 31 October 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Page 3 |
The Boy From Far Away Limited
(Registration number: 09825066)
Balance Sheet as at 31 October 2018
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
J C Hawkins
Director
Page 4 |
The Boy From Far Away Limited
Notes to the Financial Statements for the Year Ended 31 October 2018
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Amortisation
Intangible assets comprise production costs associated with bringing the animation to broadcast. Amortisation of the intangible assets will commence once the company gains economic benefits from the asset and will be written off over its useful life through the profit and loss account.
Asset class |
Amortisation method and rate |
Development and production costs |
Not amortised |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Page 5 |
The Boy From Far Away Limited
Notes to the Financial Statements for the Year Ended 31 October 2018
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Page 6 |
The Boy From Far Away Limited
Notes to the Financial Statements for the Year Ended 31 October 2018
Intangible assets |
Development and production costs |
Total |
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Cost or valuation |
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At 1 November 2017 |
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Additions |
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At 31 October 2018 |
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Amortisation |
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Carrying amount |
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At 31 October 2018 |
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At 31 October 2017 |
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Debtors |
2018 |
2017 |
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Other debtors |
- |
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- |
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Creditors |
Creditors: amounts falling due within one year
2018 |
2017 |
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Due within one year |
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Taxation and social security |
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- |
Accruals and deferred income |
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Other creditors |
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Page 7 |
The Boy From Far Away Limited
Notes to the Financial Statements for the Year Ended 31 October 2018
Share capital |
Allotted, called up and fully paid shares
2018 |
2017 |
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No. |
£ |
No. |
£ |
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1.00 |
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1.00 |
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5,748.48 |
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5,748.48 |
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Page 8 |