Two Tales Productions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00504466 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Two Tales Productions Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Dame H L Mirren

SECRETARY:

Mr J Ward

REGISTERED OFFICE:

Lewis House

Great Chesterford Court

Great Chesterford

Essex

CB10 1PF

REGISTERED NUMBER:

00504466 (England and Wales)

FIXED ASSETS

Investments

5

1,297,251

1,216,513

CURRENT ASSETS

Debtors

6

-

1,126

Cash at bank

61,558

21,773

61,558

22,899

CREDITORS

Amounts falling due within one year

7

(246,586

)

(243,328

)

NET CURRENT LIABILITIES

(185,028

)

(220,429

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,112,223

996,084

PROVISIONS FOR LIABILITIES

(104,411

)

(84,055

)

NET ASSETS

1,007,812

912,029

CAPITAL AND RESERVES

Called up share capital

100

100

Other reserves

445,123

358,340

Retained earnings

562,589

553,589

1,007,812

912,029

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 applicable to companies subject to the small companies regime.

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 25 September 2019 and were signed by:

Dame H L Mirren - Director

1.	STATUTORY INFORMATION

Two Tales Productions Limited is a private company, limited by shares , registered in England and Wales. The

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

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual

provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in

effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a

market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Other financial instruments are initially recognised at fair value, unless payment for an asset is deferred beyond

normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is

measured at the present value of the future payments discounted at a market rate of interest for a similar debt

instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at

the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in

profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not

result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the

impairment not previously been recognised.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - NIL).

5.	FIXED ASSET INVESTMENTS

Listed

Unlisted

investments

investments

Totals

£

£

£

COST OR VALUATION

At 1 April 2018

1,211,872

4,641

1,216,513

Additions

4,525

-

4,525

Disposals

(26,285

)

(4,641

)

(30,926

)

Revaluations

107,139

-

107,139

At 31 March 2019

1,297,251

-

1,297,251

NET BOOK VALUE

At 31 March 2019

1,297,251

-

1,297,251

At 31 March 2018

1,211,872

4,641

1,216,513

Cost or valuation at 31 March 2019 is represented by:

Listed

investments

£

Valuation in 2019

549,534

Cost

747,717

1,297,251

Within this years accounts it was noted that the investment portfolios had previously been held at cost and not

market value as required under FRS102, and therefore needed revaluing in the prior year accounts.

The change has resulted in a total of £549,534 of investment market value gain being adjusted to other

non-distributable reserves. Additionally, a total of £104,411 of deferred tax on investment revaluation has been

transferred from other non-distributable reserves to deferred tax. There is no resulting impact on the taxation

payable.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

-

1,126

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other creditors

246,586

243,328

Included within other creditors disclosed above is a balance of £3,375 (2018 - £3,313) in relation to accruals,

and a balance of £243,211 (2018 - £240,015) in relation to the directors loan accounts.