Shiny Town Productions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC543099 (Scotland)

Shiny Town Productions Limited

Unaudited Financial Statements

for the Year Ended 31 August 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A J Aherne

REGISTERED OFFICE:

Whitelaw wells

9 Ainslie Place

Edinburgh

EH3 6AT

REGISTERED NUMBER:

SC543099 (Scotland)

ACCOUNTANTS:

Whitelaw Wells

9 Ainslie Place

Edinburgh

Midlothian

EH3 6AT

BANKERS:

Barclays

Business Direct

Leicester

Leicestershire

LE87 2BB

CURRENT ASSETS

Debtors

4

10,455

6,558

Cash at bank

1,566

443

12,021

7,001

CREDITORS

Amounts falling due within one year

5

90,534

101,724

NET CURRENT LIABILITIES

(78,513

)

(94,723

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(78,513

)

(94,723

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(78,514

)

(94,724

)

(78,513

)

(94,723

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2018 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 24 May 2019 and were signed by:

A J Aherne - Director

1.	STATUTORY INFORMATION

Shiny Town Productions Limited is a private company, limited by shares , registered in Scotland. The

company's registered number and registered office address can be found on the Company

Information page.

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.

Financial instruments

Financial instruments comprise financial assets and financial liabilities which are recognised when

the company become a party to the contractual provisions of the instrument. Financial instruments

are classified as "basic" in accordance with FRS 102 and are accounted for at amortised cost using

the effective interest method.The effective interest rate is the rate that exactly discounts estimated

future cash flows over the life of the financial assets or liability to the net carrying amount on initial

recognition. Discounting is not applied to short-term receivables and payables, where the effect is

immaterial.

Financial assets at cost compromise bank, trade debtors and other debtors. Financial liabilities

compromise trade creditors, accruals and other creditors.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 1 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

10,455

6,558

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other creditors

90,534

101,724

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 August 2018

and the period ended 31 August 2017:

2018

2017

£

£

A J Aherne

Balance outstanding at start of year

(20,000

)

-

Amounts advanced

28,657

-

Amounts repaid

-

(20,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

8,657

(20,000

)

The balance on the director's current account will be repaid prior to 31 May 2019.

7.	GOING CONCERN

The financial statements have been prepared on the going concern basis which assumes that the

company will continue to function for the foreseeable future. In order to do so the company will

require the continued support of it's members.