Huxley Studios Ltd - Accounts

Huxley Studios Ltd - Accounts

HUXLEY STUDIOS LTD - Company Information

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Registered Number: 09412277
England and Wales

 

 

 

HUXLEY STUDIOS LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2018

End date: 31 March 2019

Huxley Studios Ltd
Contents Page
For the year ended 31 March 2019
Directors Andrew Eagles
Jose Macerola Pacha
Alexander Try
Registered Number 09412277
Registered Office 3 Portland Place
Pritchard Street
Bristol
BS2 8RH
Accountants Bunker & Co Chartered Accountants
66 Gloucester Road
Bishopston
Bristol
BS7 8BH
1
The directors present their annual report and the financial statements for the year ended 31 March 2019.
Principal activities
Principal activity of the company during the financial year was of video production.
Directors
The directors who served the company throughout the year were as follows:
Andrew Eagles
Jose Macerola Pacha
Alexander Try

Statement of Directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions
Each director who held office at the date of approval of this report confirms that: so far as the director is aware, there is no relevant audit information needed by the company’s auditor in connection with preparing their report of which the company's auditor is unaware; and the director has taken all the steps that they ought to have taken as a director in order to be aware of any relevant audit information and to establish that the company's auditor is aware of that information .

This report was approved by the board and signed on its behalf.


----------------------------------
Andrew Eagles
Director

Date approved: 27 September 2019
2
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Huxley Studios Ltd for the year ended 31 March 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Huxley Studios Ltd for the year ended 31 March 2019 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of Huxley Studios Ltd , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of Huxley Studios Ltd and state those matters that we have agreed to state to the Board of Directors of Huxley Studios Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Huxley Studios Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Huxley Studios Ltd 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 Huxley Studios Ltd . You consider that Huxley Studios Ltd 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 Huxley Studios Ltd . 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
31 March 2019



....................................................
Bunker & Co Chartered Accountants
66 Gloucester Road
Bishopston
Bristol
BS7 8BH
27 September 2019
3
 
 		 Notes
 		 2019
£		   2018
£
Fixed assets      
Intangible fixed assets 2 5,898    7,866 
Tangible fixed assets 3 20,965    42,635 
26,863    50,501 
Current assets      
Debtors 4 57,736    31,193 
Cash at bank and in hand 98,843    101,436 
156,579    132,629 
Creditors: amount falling due within one year 5 (76,240)   (70,420)
Net current assets 80,339    62,209 
 
Total assets less current liabilities 107,202    112,710 
Creditors: amount falling due after more than one year 6 (4,833)   (7,365)
Net assets 102,369    105,345 
 

Capital and reserves 		     
Called up share capital 3    3 
Profit and loss account 102,366    105,342 
Shareholders funds 102,369    105,345 
 


For the year ended 31 March 2019 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' Responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
Signed on behalf of the board of directors


--------------------------------
Jose Macerola Pacha
Director		--------------------------------
Alexander Try
Director

Date approved by the board: 27 September 2019
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 April 2017 3  45,145  45,148 
Profit for the year 105,197  105,197 
Total comprehensive income for the year -  105,197  105,197 
Dividends (45,000) (45,000)
Total investments by and distributions to owners -  (45,000) (45,000)
At 31 March 2018 (as restated) 3  105,342  105,345 
At 01 April 2018 3  105,342  105,345 
Profit for the year 41,024  41,024 
Total comprehensive income for the year -  41,024  41,024 
Dividends (44,000) (44,000)
Total investments by and distributions to owners -  (44,000) (44,000)
At 31 March 2019 3  102,366  102,369 
5
General Information
Huxley Studios Ltd is a private company, limited by shares, registered in England and Wales, registration number 09412277, registration address 3 Portland Place, Pritchard Street, Bristol, BS2 8RH.

The presentation currency is £ sterling
1.

Accounting Policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
2.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 April 2018 9,832    9,832 
Additions -    - 
Disposals -    - 
At 31 March 2019 9,832    9,832 
Amortisation
At 01 April 2018 1,966    1,966 
Charge for year 1,968    1,968 
On disposals -    - 
At 31 March 2019 3,934    3,934 
Net book values
At 31 March 2019 5,898    5,898 
At 31 March 2018 7,866    7,866 


3.

Tangible fixed assets

Cost Plant and Machinery   Fixtures and Fittings   Total
  £   £   £
At 01 April 2018 82,016    2,546    84,562 
Additions 5,675    700    6,375 
Disposals -    -    - 
At 31 March 2019 87,691    3,246    90,937 
Depreciation
At 01 April 2018 41,418    509    41,927 
Charge for year 27,502    543    28,045 
On disposals -    -    - 
At 31 March 2019 68,920    1,052    69,972 
Net book values
Closing balance as at 31 March 2019 18,771    2,194    20,965 
Opening balance as at 01 April 2018 40,089    2,546    42,635 


4.

Debtors: amounts falling due within one year

2019
£		   2018
£
Trade Debtors 35,280    6,900 
Prepayments & Accrued Income 11,668    13,505 
Other Debtors 0    10,788 
46,948    31,193 

4.

Debtors: amounts falling due after one year

2019
£		   2018
£
Deposits paid 10,788    0 
10,788    0 

5.

Creditors: amount falling due within one year

2019
£		   2018
£
Trade Creditors 1,473    13,260 
Corporation Tax 14,706    23,031 
PAYE & Social Security 5,173    5,265 
Accrued Expenses 3,704    1,800 
Other Creditors 7,050    15,087 
Directors' Current Accounts 41,583    10,200 
VAT 2,551    1,777 
76,240    70,420 

6.

Creditors: amount falling due after more than one year

2019
£		   2018
£
Bank Loans & Overdrafts 4,833    7,365 
4,833    7,365 

6