Herradura Media Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08881929 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

HERRADURA MEDIA LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

K J Yau

SECRETARY:

L K Macara

REGISTERED OFFICE:

3rd Floor

14 Floral Street

London

WC2E 9DH

REGISTERED NUMBER:

08881929 (England and Wales)

ACCOUNTANTS:

Shipleys LLP

Chartered Accountants

5 Godalming Business Centre

Woolsack Way

Godalming

Surrey

GU7 1XW

CURRENT ASSETS

Stocks

101,180

46,398

Debtors

4

2

2

Cash at bank

-

2

101,182

46,402

CREDITORS

Amounts falling due within one year

5

102,060

46,742

NET CURRENT LIABILITIES

(878

)

(340

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(878

)

(340

)

CAPITAL AND RESERVES

Called up share capital

6

1

1

Capital redemption reserve

150,000

150,000

Retained earnings

(150,879

)

(150,341

)

SHAREHOLDERS' FUNDS

(878

)

(340

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 and authorised for issue on 30 November 2020 and were signed by:

K J Yau - Director

1.	STATUTORY INFORMATION

Herradura Media 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 accounts are prepared in Sterling, which is the functional and presentational currency of the entity.

Going concern

The directors have considered and will continue to monitor the threat and implications of the COVID-19 pandemic, but it is too early to fully understand the impact that the virus will have on our business sector and the wider macro-economic environment. Although the company has net liabilities of £878 at 31 March 2020 (2019: £340), based on a review of the activities of the Company, the current working capital position and the ability to reduce certain costs in the short term, the members currently believe that this risk can be managed for the year ahead. The Company therefore continues to adopt the going concern basis in preparing its financial statements.

Stocks

Stock is stated at the lower of cost and net realisable value. Cost comprises expenditure in respect of the

development and production of television programmes or films. Net realisable value is the expected selling price or other cumulative income stream that is prudently anticipated from a programme after taking account of costs of completion and bringing it to market.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

2

2

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other creditors

102,060

46,742

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

1

Ordinary Shares

£1.00

1

1

Details of the various share rights attached to each type of share capital is included in the Articles of Association.

7.	OTHER FINANCIAL COMMITMENTS

As at the reporting date, the company had no financial or other commitments or contracts for capital expenditure in place (2019: £nil).

8.	RELATED PARTY DISCLOSURES

During the period, Pandoro Productions Limited, the company's immediate and ultimate parent company, paid for expenses on behalf of the company of £34,035 (2019: £46,742). As at the reporting date, £102,060 (2019: £46,742) was due to Pandoro Productions Limited.

No further transactions were undertaken with related parties as such that are required to be disclosed under FRS 102.