First Take Video Limited - Accounts to registrar (filleted) - small 18.2

First Take Video Limited - Accounts to registrar (filleted) - small 18.2

FIRST TAKE VIDEO LIMITED - Company Information

Print Friendly Version

IRIS Accounts Production v20.3.4.1 02016815 Board of Directors Board of Directors 1.4.19 31.3.20 31.3.20 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure020168152019-03-31020168152020-03-31020168152019-04-012020-03-31020168152018-03-31020168152018-04-012019-03-31020168152019-03-3102016815ns15:PoundSterling2019-04-012020-03-3102016815ns11:Director12019-04-012020-03-3102016815ns11:Director22019-04-012020-03-3102016815ns11:CompanyLimitedByGuarantee2019-04-012020-03-3102016815ns11:SmallEntities2019-04-012020-03-3102016815ns11:AuditExempt-NoAccountantsReport2019-04-012020-03-3102016815ns11:SmallCompaniesRegimeForDirectorsReport2019-04-012020-03-3102016815ns11:SmallCompaniesRegimeForAccounts2019-04-012020-03-3102016815ns11:FullAccounts2019-04-012020-03-3102016815ns11:Director32019-04-012020-03-3102016815ns11:CompanySecretary12019-04-012020-03-3102016815ns11:RegisteredOffice2019-04-012020-03-3102016815ns6:CurrentFinancialInstruments2020-03-3102016815ns6:CurrentFinancialInstruments2019-03-3102016815ns6:RetainedEarningsAccumulatedLosses2020-03-3102016815ns6:RetainedEarningsAccumulatedLosses2019-03-3102016815ns6:PlantMachinery2019-04-012020-03-3102016815ns6:PlantMachinery2019-03-3102016815ns6:PlantMachinery2020-03-3102016815ns6:PlantMachinery2019-03-3102016815ns6:CurrentFinancialInstrumentsns6:WithinOneYear2020-03-3102016815ns6:CurrentFinancialInstrumentsns6:WithinOneYear2019-03-31
REGISTERED NUMBER: 02016815















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020

FOR

FIRST TAKE VIDEO LIMITED
Malthouse & Company Chartered Accountants
America House, Rumford Court
Rumford Place
Liverpool
Merseyside
L3 9DD








FIRST TAKE VIDEO LIMITED (REGISTERED NUMBER: 02016815)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FIRST TAKE VIDEO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2020







DIRECTORS: L Harwood
J Farley
N J Mitchell



SECRETARY: J Farley



REGISTERED OFFICE: 1 Maryland Street
Liverpool
Merseyside
L1 9DE



REGISTERED NUMBER: 02016815



ACCOUNTANTS: Malthouse & Company Chartered Accountants
America House, Rumford Court
Rumford Place
Liverpool
Merseyside
L3 9DD



BANKERS: Lloyds TSB Bank plc
Charlotte Row
53 Great Charlotte Street
Liverpool
Merseyside
L1 1QY
Page 1
FIRST TAKE VIDEO LIMITED (REGISTERED NUMBER: 02016815)

BALANCE SHEET
31 MARCH 2020

31.3.20 31.3.19
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,204 20,363

CURRENT ASSETS
Debtors 5 42,961 7,588
Cash at bank 5,117 19,628
48,078 27,216
CREDITORS
Amounts falling due within one year 6 21,475 26,371
NET CURRENT ASSETS 26,603 845
TOTAL ASSETS LESS CURRENT
LIABILITIES
44,807
21,208

RESERVES
Income and expenditure account 44,807 21,208
44,807 21,208

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 directors acknowledge their 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 surplus or deficit 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 notes form part of these financial statements

Page 2 continued...
FIRST TAKE VIDEO LIMITED (REGISTERED NUMBER: 02016815)

BALANCE SHEET - continued
31 MARCH 2020


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 and authorised for issue on 26 February 2021 and were signed on its behalf by:




J Farley - Director



L Harwood - Director


The notes form part of these financial statements

Page 3
FIRST TAKE VIDEO LIMITED (REGISTERED NUMBER: 02016815)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020


1. STATUTORY INFORMATION

First Take Video Limited is a private company, limited by guarantee , registered in Not specified/Other. 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.

TURNOVER
Turnover represents grants, income generated from productions, workshops and training, and other income.

Grants
Revenue grants are included in the income and expenditure account in the period which they are receivable. Grants for capital expenditure are credited to a capital grant reserve and transferred to the income and expenditure account on the same basis as the depreciation of the associated assets.

Other Income
Income other than grant income is accounted for when the event for which income is received takes place.

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 - 25% on reducing balance

Fixed assets are included at cost.

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.


Page 4 continued...
FIRST TAKE VIDEO LIMITED (REGISTERED NUMBER: 02016815)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2020


2. ACCOUNTING POLICIES - continued
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 stakeholder pension scheme with the CIS. Employees can choose to contribute to the scheme. The company has no liabilities other than the contributions to the scheme.

PENSIONS
The company operates a defined contribution stakeholder pension scheme with the CIS. Employees can choose to contribute to the scheme. The company has no liabilities other than the contributions to the scheme.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Profit and Loss Account on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - NIL ) .

Page 5 continued...
FIRST TAKE VIDEO LIMITED (REGISTERED NUMBER: 02016815)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2020


4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2019 105,444
Additions 3,908
At 31 March 2020 109,352
DEPRECIATION
At 1 April 2019 85,081
Charge for year 6,067
At 31 March 2020 91,148
NET BOOK VALUE
At 31 March 2020 18,204
At 31 March 2019 20,363

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.20 31.3.19
£    £   
Trade debtors 21,624 5,916
Tax 21,165 -
Prepayments & other debtors 172 1,672
42,961 7,588

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.20 31.3.19
£    £   
Grants in Advance 13,033 18,680
Other creditors 6,944 6,192
Accruals and deferred income 1,498 1,499
21,475 26,371

7. ULTIMATE CONTROLLING PARTY

The company was under the control of the directors for the period under review.

Page 6 continued...
FIRST TAKE VIDEO LIMITED (REGISTERED NUMBER: 02016815)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2020


8. LIMITED BY GUARANTEE

The company is limited by guarantee and as such has no share capital.

9. CAPITAL GRANT RESERVE

31.3.20
£   
Capital grant brought forward at 1.4.19 18,680
Capital grants received in year -
Transfered to Profit and Loss Account (5,647 )
Balance at 31.3.20 13,033

The balance of £13,033 is included in creditors.

Page 7