ODEY_PRODUCTIONS_LIMITED - Accounts

ODEY PRODUCTIONS LIMITED - Company Information

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Company Registration No. 05758285 (England and Wales)

ODEY PRODUCTIONS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2014

ODEY PRODUCTIONS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

ODEY PRODUCTIONS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MAY 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

8,379

9,857

Current assets

Debtors

9,696

6,880

9,696

6,880

Creditors: amounts falling due within one year

(15,860)

(14,347)

Net current liabilities

(6,164)

(7,467)

Total assets less current liabilities

2,215

2,390

Provisions for liabilities

(1,446)

(1,972)

769

418

Capital and reserves

Called up share capital

100

Profit and loss account

669

318

Shareholders' funds

769

418

For the financial year ended 31 May 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

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

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 27 February 2015

Mr L Friedmann

Director

Company Registration No. 05758285

ODEY PRODUCTIONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

At the year end the company showed net current liabilities of £6,164 (2013 - £7,467). The company meets its day to day working capital requirements through the continued support of its creditors. The director has no reason to believe that this financial support will be withdrawn from the company within twelve months from the date of signature of these financial statements and therefore believes it appropriate to prepare these financial statements on a going concern basis.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings and equipment

15% reducing balance basis

1.5

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Fixed assets

Tangible assets

Cost

At 1 June 2013 & at 31 May 2014

16,860

Depreciation

At 1 June 2013

7,003

Charge for the year

1,478

At 31 May 2014

8,481

Net book value

At 31 May 2014

8,379

At 31 May 2013

9,857

ODEY PRODUCTIONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2014

- 3 -

Share capital

2014

2013

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

Related party relationships and transactions

Advances and credits to directors

Advances and credits granted to the directors during the year are outlined in the table below:

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

L Friedmann - Directors current account

2,158

37,987

32,000

8,145

2,158

37,987

32,000

8,145

Other transactions

The director received a consideration of £520 for the use of his home as the company's office (2013 - £520)