Vinyl Factory Productions Limited - Accounts to registrar (filleted) - small 18.2
Vinyl Factory Productions Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 28 February 2019 |
| for |
| Vinyl Factory Productions Limited |
| Vinyl Factory Productions Limited (Registered number: 04786139) |
| Contents of the Financial Statements |
| for the Year Ended 28 February 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Vinyl Factory Productions Limited |
| Company Information |
| for the Year Ended 28 February 2019 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Statutory Auditors |
| Chartered Accountants & Business Advisers |
| 15 Newland |
| Lincoln |
| Lincolnshire |
| LN1 1XG |
| Vinyl Factory Productions Limited (Registered number: 04786139) |
| Balance Sheet |
| 28 February 2019 |
| 2019 | 2018 |
| as restated |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks | 6 |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings | 10 | ( |
) | (1,366,274 | ) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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 |
| Vinyl Factory Productions Limited (Registered number: 04786139) |
| Notes to the Financial Statements |
| for the Year Ended 28 February 2019 |
| 1. | STATUTORY INFORMATION |
| Vinyl Factory Productions Limited is a |
| The company's registered number and registered office address can be found on the Company Information |
| page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| At the year end liabilities exceeded assets by £1,446,230 (2018: £1,366,273). Included within creditors are |
| amounts owing to related parties of £2,306,661 (2018: £2,084,390), and the company receives the financial |
| support of its parent company. On this basis the directors consider it appropriate to prepare the financial |
| statements on a going concern basis. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Revenue is recognised on the completion of an order. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
| less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Stocks |
| Stocks and work in progress are valued at the lower of cost and net realisable value, after making due |
| allowance for obsolete and slow moving items. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in |
| bringing stocks to their present location and condition. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's |
| pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Vinyl Factory Productions Limited (Registered number: 04786139) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2019 |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 March 2018 |
| and 28 February 2019 |
| AMORTISATION |
| At 1 March 2018 |
| and 28 February 2019 |
| NET BOOK VALUE |
| At 28 February 2019 |
| At 28 February 2018 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and |
| machinery | fittings | Totals |
| £ | £ | £ |
| COST |
| At 1 March 2018 |
| and 28 February 2019 |
| DEPRECIATION |
| At 1 March 2018 |
| Charge for year |
| At 28 February 2019 |
| NET BOOK VALUE |
| At 28 February 2019 |
| At 28 February 2018 |
| 6. | STOCKS |
| 2019 | 2018 |
| as restated |
| £ | £ |
| Work-in-progress |
| Finished goods |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| as restated |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Amounts owed by joint ventures |
| Other debtors |
| Vinyl Factory Productions Limited (Registered number: 04786139) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2019 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| as restated |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2019 | 2018 |
| value: | as restated |
| £ | £ |
| Ordinary | £1 | 1 | 1 |
| 10. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 March 2018 | ( |
) |
| Prior year adjustment |
| ( |
) |
| Deficit for the year | ( |
) |
| At 28 February 2019 | ( |
) |
| 11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 12. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
| Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
| transactions with wholly owned subsidiaries within the group. |
| 13. | CONTROLLING PARTY |
| The company's parent undertaking is The Vinyl Factory Limited. The registered office of the parent undertaking |
| is 15 Newland, Lincoln, Lincolnshire, LN1 1XG. The principle place of business is 16-18 Marshall Street, |
| London, W1F 7BE. |
| 14. | PRIOR YEAR ADJUSTMENT |
| Following a review of the stock lines at the year end it became apparent from that a number of items were |
| omitted from stock in the previous year. Further review found that there was a separate unit that was not |
| included in the count and following a reorganisation of the storage of stock, this had now been brought into the |
| current year. The amount omitted was quantified as £88,312 from opening stock and £10,593 from opening |
| work in progress. A prior year adjustment was therefore made to recognise these amounts. |