Boundary Pictures Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09011131 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

BOUNDARY PICTURES LTD

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

Ms S Mitford-Barberton

Mr S Radnor

REGISTERED OFFICE:

Sterling

505 Pinner Road

Harrow

Middlesex

HA2 6EH

REGISTERED NUMBER:

09011131 (England and Wales)

ACCOUNTANTS:

STGCA LLP t/a Sterling

Chartered Accountants

505 Pinner Road

Harrow

Middlesex

HA2 6EH

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Boundary Pictures Ltd for the year ended 31 March 2021 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Boundary Pictures Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Boundary Pictures Ltd and state those matters that we have agreed to state to the Board of Directors of Boundary Pictures Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Boundary Pictures Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Boundary Pictures Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Boundary Pictures Ltd. You consider that Boundary Pictures Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Boundary Pictures Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

STGCA LLP t/a Sterling

Chartered Accountants

505 Pinner Road

Harrow

Middlesex

HA2 6EH

22 November 2021

FIXED ASSETS

Tangible assets

4

1,478

782

CURRENT ASSETS

Debtors

5

-

1,786

Cash at bank

36,789

8,490

36,789

10,276

CREDITORS

Amounts falling due within one year

6

31,015

10,698

NET CURRENT ASSETS/(LIABILITIES)

5,774

(422

)

TOTAL ASSETS LESS CURRENT LIABILITIES

7,252

360

PROVISIONS FOR LIABILITIES

7

281

149

NET ASSETS

6,971

211

CAPITAL AND RESERVES

Called up share capital

8

200

200

Retained earnings

9

6,771

11

SHAREHOLDERS' FUNDS

6,971

211

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 November 2021 and were signed on its behalf by:

Mr S Radnor - Director

1.	STATUTORY INFORMATION

Boundary Pictures Ltd 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 the Financial Reporting Standard 102 Section 1A 2 " The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under he historical cost convention as modified by revaluation of certain assets.

Turnover

Turnover represents fees receivable from video and television programme post production activities.

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

-

20% on reducing balance

Computer equipment

-

33% 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 April 2020

2,087

1,776

3,863

Additions

-

1,304

1,304

At 31 March 2021

2,087

3,080

5,167

DEPRECIATION

At 1 April 2020

1,465

1,616

3,081

Charge for year

125

483

608

At 31 March 2021

1,590

2,099

3,689

NET BOOK VALUE

At 31 March 2021

497

981

1,478

At 31 March 2020

622

160

782

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/21

31/3/20

£

£

Directors' current accounts

-

1,786

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/21

31/3/20

£

£

Bank loans and overdrafts

1,957

-

Tax

10,836

7,202

VAT

5,236

1,696

Directors' current accounts

11,186

-

Accrued expenses

1,800

1,800

31,015

10,698

7.	PROVISIONS FOR LIABILITIES

31/3/21

31/3/20

£

£

Deferred tax

281

149

Deferred tax

£

Balance at 1 April 2020

149

Provided during year

132

Balance at 31 March 2021

281

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/21

31/3/20

value:

£

£

200

Ordinary Shares

£1

200

200

9.

RESERVES

Retained

earnings

£

At 1 April 2020

11

Profit for the year

46,760

Dividends

(40,000

)

At 31 March 2021

6,771

10.	RELATED PARTY DISCLOSURES

The company paid dividend of £40,000.00 (2020:£30,550) to the directors of the company.

11.	ULTIMATE CONTROLLING PARTY

The directors are the ultimate controlling party by virtue of their shareholdings.