Fresh Cut Video Ltd - Accounts

Fresh Cut Video Ltd - Accounts

FRESH CUT VIDEO LTD - Company Information

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Logo On Report
Registered Number: 10380906
England and Wales

 

 

 

FRESH CUT VIDEO LTD


Abridged Accounts
 


Period of accounts

Start date: 01 October 2020

End date: 30 September 2021

Fresh Cut Video Ltd
Contents Page
For the year ended 30 September 2021
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Fresh Cut Video Ltd for the year ended 30 September 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Fresh Cut Video Ltd for the year ended 30 September 2021 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the 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, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of Fresh Cut Video Ltd , as a body, in accordance with the terms of our engagement letter dated 17 November 2021. Our work has been undertaken solely to prepare for your approval the accounts of Fresh Cut Video Ltd and state those matters that we have agreed to state to the Board of Directors of Fresh Cut Video Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fresh Cut Video Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Fresh Cut Video Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Fresh Cut Video Ltd . You consider that Fresh Cut Video 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 accounts of Fresh Cut Video 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 accounts
30 September 2021



....................................................
Boffix & Co Accountancy Limited
St Alban Tower
Wood Street
London
EC2V 7AF
17 November 2021
1
 
 		 Notes
 		 2021
£		   2020
£
Fixed assets      
Tangible fixed assets 65,107    67,784 
65,107    67,784 
Current assets      
Stocks 11,340    0 
Debtors 105,957    0 
Cash at bank and in hand 1,106    9,581 
118,403    9,581 
Creditors: amount falling due within one year (182,592)   (97,242)
Net current liabilities (64,189)   (87,661)
 
Total assets less current liabilities 918    (19,877)
Provisions for liabilities (317)   0 
Net assets 601    (19,877)
 

Capital and reserves 		     
Called up share capital 4    4 
Profit and loss account 597    (19,881)
Shareholder's funds 601    (19,877)
 


For the year ended 30 September 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 17 November 2021 and were signed by:


--------------------------------
Harry John Pill
Director
2
General Information
Fresh Cut Video Ltd is a private company, limited by shares, registered in England and Wales, registration number 10380906, registration address 74-77 Magdalen Road, Oxford, Oxfordshire, OX4 1RE

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Reducing Balance
Fixtures and Fittings 20% Reducing Balance
Computer Equipment 20% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2020 : 0).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 October 2020 42,595    5,477    36,658    84,730 
Additions -    -    6,971    6,971 
Disposals -    -    -    - 
At 30 September 2021 42,595    5,477    43,629    91,701 
Depreciation
At 01 October 2020 8,519    1,095    7,332    16,946 
Charge for year 4,654    877    4,117    9,648 
On disposals -    -    -    - 
At 30 September 2021 13,173    1,972    11,449    26,594 
Net book values
Closing balance as at 30 September 2021 29,422    3,505    32,180    65,107 
Opening balance as at 01 October 2020 34,076    4,382    29,326    67,784 


4.

Share Capital

Allotted, called up and fully paid
2021
£		   2020
£
4 Class A shares of £1.00 each 4    4 
4    4 

3