152 Productions Limited - Period Ending 2020-03-31
152 Productions Limited - Period Ending 2020-03-31
Registration number:
152 Productions Limited
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152 Productions Limited
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
152 Productions Limited
Company Information
Director |
J Chapman |
Company secretary |
C Chapman |
Registered office |
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Accountants |
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152 Productions Limited
Statement of Financial Position as at 31 March 2020
Note |
2020 |
2019 |
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Fixed assets |
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Tangible assets |
- |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
1 |
1 |
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Profit and loss account |
1,317 |
2,261 |
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Shareholders' funds |
1,318 |
2,262 |
For the financial year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.
Approved and authorised by the
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J Chapman
Director
Company registration number: 04619692
152 Productions Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company is that of the provision of services to the entertainment industry.
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
Going concern
At 31 March 2020 the Statement of Financial Position showed net assets of £1,318.
The company has no significant activity currently and no fixed overheads and is therefore unaffected by the COVID-19 pandemic. The director has a reasonable expectation that the company has adequate resources to remain in operational existence for the foreseeable future. Accordingly, he continues to adopt the going concern basis when preparing the financial statements.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities. Turnover arising under contracts are recognised based upon the stage of completion of the project.
Tax
The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
152 Productions Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant & Machinery |
20% straight line |
Fixtures & Fittings |
20% straight line |
Motor Vehicles |
20% straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company during the year, was
152 Productions Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
Tangible assets |
Furniture, fittings and equipment |
Plant & machinery |
Total |
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Cost or valuation |
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At 1 April 2019 |
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At 31 March 2020 |
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Depreciation |
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At 1 April 2019 |
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Charge for the year |
- |
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At 31 March 2020 |
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Carrying amount |
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At 31 March 2020 |
- |
- |
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At 31 March 2019 |
- |
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Debtors |
2020 |
2019 |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2020 |
2019 |
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Trade creditors |
- |
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Taxation and social security |
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Other creditors |
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Transactions with directors |
At 31 March 2020 an amount of £1,589 (2018: £2,984) was due from the director. During the year an amount of £1,305 was repaid. No interest has been charged (2019: £Nil) and there are no set terms in place.