Dovecheck Productions Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 09414777 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2019

FOR

DOVECHECK PRODUCTIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Ingenious Media Director Limited

Mr R D Mansell

SECRETARY:

FLB Company Secretarial Services Ltd

REGISTERED OFFICE:

150 Wharfedale Road

Winnersh Triangle

Wokingham

Berkshire

RG41 5RB

REGISTERED NUMBER:

09414777 (England and Wales)

INDEPENDENT AUDITORS:

Shipleys LLP, Statutory Auditor

10 Orange Street

Haymarket

London

WC2H 7DQ

FIXED ASSETS

Investments

5

72

CURRENT ASSETS

Stocks

2,620,294

2,625,604

Debtors

6

3,827,789

1,490,726

Cash at bank

986,679

3,215,181

7,434,762

7,331,511

CREDITORS

Amounts falling due within one year

7

(3,250,053

)

(2,763,348

)

NET CURRENT ASSETS

4,184,709

4,568,163

TOTAL ASSETS LESS CURRENT
LIABILITIES

4,184,781

4,568,235

CAPITAL AND RESERVES

Called up share capital

8

46,783

Share premium

9

4,828,565

Retained earnings

9

(690,567

)

(307,113

)

SHAREHOLDERS' FUNDS

4,184,781

4,568,235

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 Board of Directors on 10 December 2019 and were signed on
its behalf by:

Ingenious Media Director Limited - Director

1.	STATUTORY INFORMATION

Dovecheck 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 principal activity of the Company is to conduct a film and television development and production

business.

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.

Preparation of consolidated financial statements

The financial statements contain information about Dovecheck Productions Limited as an individual

company and do not contain consolidated financial information as the parent of a group. The company

is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare

consolidated financial statements.

Significant judgements and estimates

In the application of the Company's accounting policies, the directors are required to make judgments,

estimates and assumptions about the carrying amounts of assets and liabilities that are not readily

apparent from other sources. The estimates and associated assumptions are based on historical

experience and other factors that are considered to be relevant. Actual results may differ from these

estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting

estimates are recognised in the period in which the estimate is revised if the revision affects only that

period or in the period of the revision and future periods if the revision affects both current and future

periods. No significant judgements and estimates have been made in the year.

Turnover

Turnover is derived from the development and/or production of film and/or television projects, and is

stated net of value added tax. Turnover is recognised at the fair value of the right to consideration and

is not recoginsed until there is certainty over the right to consideration. Turnover which has been

recognised but not invoiced by the balance sheet date is included in debtors. Amounts invoiced in

advance are included in deferred income.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stock and work in progress other than long term contracts, are stated at the lower of cost and net

realisable value. Cost comprises contractual expenditure in respect of the film and/or television

projects being developed and/or produced. Net realisable value is based on estimated selling price

less all further costs to completion and all relevant marketing, selling and distribution costs.

Financial instruments

The Company enters into basic financial instruments transactions that result in the recognition of

financial assets and liabilities like trade and other debtors and creditors, loans from banks and other

third parties, loans to related parties and investments in non-puttable ordinary shares.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic

financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract

is entered into and are subsequently re-measured at their fair value. Changes in the fair value of

derivatives are recognised in profit or loss in finance costs or income as appropriate. The company

does not currently apply hedge accounting for interest rate and foreign exchange derivatives.

Short term debtors are measured at transaction price, less any impairment.

Short term creditors are measured at the transaction price. Other financial liabilities, including bank

loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at

amortised cost using the effective interest method.

Taxation

Tax is recognised in the Income Statement, except that a charge attributable to an item of income and

expense recognised as other comprehensive income or to an item recognised directly in equity is also

recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted

or substantively enacted by the balance sheet date in the countries where the Company operates and

generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not

reversed by the Balance sheet date, except that:

The recognition of deferred tax assets is limited to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits; and

Any deferred tax balances are reversed if and when all conditions for retaining associated tax

allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of

business combinations, when deferred tax is recognised on the differences between the fair values of

assets acquired and the future tax deductions available for them and the differences between the fair

values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined

using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates

at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non

monetary items measured at historical cost are translated using the exchange rate at the date of the

transaction and non-monetary items measured at fair value are measured using the exchange rate

when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the

translation at period-end exchange rates of monetary assets and liabilities denominated in foreign

currencies are recognised in the Profit and loss account except when deferred in other comprehensive

income as qualifying cash flow hedges.

Loans

Non-derivative financial liabilities with fixed or determinable repayments that are not quoted in an active

market are classified as loans. Loans are initially recognised at fair value of the consideration received

plus directly related transaction costs. They are subsequently measured at amortised cost using the

effective interest method. Arrangement fees and interest payable on financial liabilities that are

classified as loans, are charged to the profit and loss account.

The effective interest method is a method of calculating the amortised cost of a financial liability and of

allocating the interest payable over the expected life of the liability. The effective interest rate is the rate

that exactly discounts estimated future cashflows to the instrument's initial carrying amount.

Calculation of the effective interest rate takes into account fees payable, that are an integral part of the

instrument yield and transaction costs. All contractual terms of a financial instrument are considered

when estimating future cash flows.

A financial liability is removed from the balance sheet when the obligation is discharged, or cancelled,

or expires.

3.	EMPLOYEES AND DIRECTORS

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

4.	AUDITORS' REMUNERATION

2019

2018

£

Fees payable to the company's auditors for the audit of the
company's financial statements

2,650

2,000

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakin

£

COST

At 6 April 2018

and 5 April 2019

72

NET BOOK VALUE

At 5 April 2019

72

At 5 April 2018

72

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

Trade debtors

2,860,437

753,459

Other debtors

967,352

737,267

3,827,789

1,490,726

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

Trade creditors

132,698

166,439

Other creditors

3,117,355

2,596,909

3,250,053

2,763,348

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

4,678,321

Ordinary

£0.01

46,783

9.

RESERVES

Retained

Share

earnings

premium

Totals

£

At 6 April 2018

(307,113

)

4,828,565

4,521,452

Deficit for the year

(383,454

)

(383,454

)

At 5 April 2019

(690,567

)

4,828,565

4,137,998

Share premium account

The Share Premium reserve records the amount above the nominal value received for shares issued.

Profit and loss account

The Profit and Loss Account represents the cumulative profits or losses, net of dividends paid and

other adjustments.

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen Joberns (Senior Statutory Auditor)

for and on behalf of Shipleys LLP, Statutory Auditor

Dovecheck Productions Limited - Accounts to registrar (filleted) - small 18.2

Dovecheck Productions Limited - Accounts to registrar (filleted) - small 18.2