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

REGISTERED NUMBER: 06760335 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2019

FOR

POSSUM PRODUCTIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Ms C J Davy

SECRETARY:

Ms A J Davy

REGISTERED OFFICE:

Larch House

Parklands Business Park

Denmead

Hampshire

PO7 6XP

REGISTERED NUMBER:

06760335 (England and Wales)

ACCOUNTANTS:

Gibson Whitter

Chartered Accountants

and Chartered Tax Advisers

Larch House

Parklands Business Park

Denmead

Hampshire

PO7 6XP

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

403

539

403

539

CURRENT ASSETS

Debtors

6

15,548

3,950

Cash at bank

71,070

69,496

86,618

73,446

CREDITORS

Amounts falling due within one year

7

43,531

49,878

NET CURRENT ASSETS

43,087

23,568

TOTAL ASSETS LESS CURRENT LIABILITIES

43,490

24,107

PROVISIONS FOR LIABILITIES

8

77

103

NET ASSETS

43,413

24,004

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

43,313

23,904

SHAREHOLDERS' FUNDS

43,413

24,004

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 and authorised for issue by the director and authorised for issue on 3 June 2020 and were signed by:

Ms C J Davy - Director

1.	STATUTORY INFORMATION

Possum 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.

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.

The financial statements show a net current liability at the balance sheet date. This position is due to

amounts owed to the director. The director has agreed not to seek repayment of the money owed to

her unless the company has sufficient funds to do so. The director, on this basis, has prepared the

financial statements on the 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 25% on reducing balance

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.

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 1 (2018 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2018

and 30 November 2019

20,000

AMORTISATION

At 1 December 2018

and 30 November 2019

20,000

NET BOOK VALUE

At 30 November 2019

-

At 30 November 2018

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2018

and 30 November 2019

5,296

DEPRECIATION

At 1 December 2018

4,757

Charge for year

136

At 30 November 2019

4,893

NET BOOK VALUE

At 30 November 2019

403

At 30 November 2018

539

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.19

30.11.18

£

£

Trade debtors

15,548

3,950

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.19

30.11.18

£

£

Taxation and social security

8,257

7,449

Other creditors

35,274

42,429

43,531

49,878

8.	PROVISIONS FOR LIABILITIES

30.11.19

30.11.18

£

£

Deferred tax

77

103

Deferred

tax

£

Balance at 1 December 2018

103

Utilised during year

(26

)

Balance at 30 November 2019

77

9.	RELATED PARTY DISCLOSURES

The aggregate amount owed by the director at the balance sheet date is £30,872 (30.11.18: £39,247).

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Ms C J Davy.