No One Knows Anything Productions Limited - Period Ending 2018-09-30

No One Knows Anything Productions Limited - Period Ending 2018-09-30


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Registration number: 01022952

No One Knows Anything Productions Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2018

image-name

Sobell Rhodes LLP
Chartered Accountants
Ground Floor
Unit 501 Centennial Park
Centennial Avenue
Elstree, Borehamwood
Hertfordshire
WD6 3FG

 

No One Knows Anything Productions Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

No One Knows Anything Productions Limited

Company Information

Director

Mr W D Jones

Company secretary

Ms M Downes

Registered office

5b Wolseley Road
Crouch End
London
N8 8RR

Accountants

Sobell Rhodes LLP
Chartered Accountants
Ground Floor
Unit 501 Centennial Park
Centennial Avenue
Elstree, Borehamwood
Hertfordshire
WD6 3FG

 

No One Knows Anything Productions Limited

(Registration number: 01022952)
Balance Sheet as at 30 September 2018

Note

2018
£

2017
£

Fixed assets

 

Tangible assets

4

1,506

909

Current assets

 

Debtors

5

3,951

5,413

Cash at bank and in hand

 

4,429

5,856

 

8,380

11,269

Creditors: Amounts falling due within one year

6

(9,537)

(11,810)

Net current liabilities

 

(1,157)

(541)

Net assets

 

349

368

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

347

366

Total equity

 

349

368

For the financial year ending 30 September 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 director on 11 September 2019
 

Mr W D Jones
Director

 

No One Knows Anything Productions Limited

Notes to the Financial Statements for the Year Ended 30 September 2018

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
5b Wolseley Road
Crouch End
London
N8 8RR

2

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of artistic creation services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

No One Knows Anything Productions Limited

Notes to the Financial Statements for the Year Ended 30 September 2018

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Trade debtors

Trade debtors are amounts due from customers for 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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2017 - 1).

 

No One Knows Anything Productions Limited

Notes to the Financial Statements for the Year Ended 30 September 2018

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 October 2017

11,694

11,694

Additions

1,099

1,099

At 30 September 2018

12,793

12,793

Depreciation

At 1 October 2017

10,785

10,785

Charge for the year

502

502

At 30 September 2018

11,287

11,287

Carrying amount

At 30 September 2018

1,506

1,506

At 30 September 2017

909

909

5

Debtors

Note

2018
£

2017
£

Trade debtors

 

10

10

Amounts owed by related parties

8

3,941

5,403

 

3,951

5,413

6

Creditors

Creditors: amounts falling due within one year

2018
£

2017
£

Due within one year

Taxation and social security

517

5,370

Accruals and deferred income

1,700

1,400

Corporation tax

6,799

4,986

Other creditors

521

54

9,537

11,810

 

No One Knows Anything Productions Limited

Notes to the Financial Statements for the Year Ended 30 September 2018

2018
£

2017
£

Current loans and borrowings

7

Share capital

Allotted, called up and fully paid shares

 

2018

2017

 

No.

£

No.

£

Ordinary Shares of £1 each

2

2

2

2

         

8

Related party transactions

Loans to related parties

2018

Key management
£

At start of period

(5,403)

Repaid

1,471

At end of period

(3,932)

2017

Key management
£

At start of period

51

Advanced

(5,454)

At end of period

(5,403)