Two Tales Productions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00504466 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2021

for

Two Tales Productions Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Dame H L Mirren

SECRETARY:

Mr J Ward

REGISTERED OFFICE:

Lewis House

Great Chesterford Court

Great Chesterford

Essex

CB10 1PF

REGISTERED NUMBER:

00504466 (England and Wales)

FIXED ASSETS

Investments

5

-

1,130,295

CURRENT ASSETS

Debtors

6

-

1,372

Cash at bank

1,264,983

66,358

1,264,983

67,730

CREDITORS

Amounts falling due within one year

7

285,528

249,179

NET CURRENT ASSETS/(LIABILITIES)

979,455

(181,449

)

TOTAL ASSETS LESS CURRENT LIABILITIES

979,455

948,846

PROVISIONS FOR LIABILITIES

-

63,541

NET ASSETS

979,455

885,305

CAPITAL AND RESERVES

Called up share capital

100

100

Other reserves

-

270,885

Retained earnings

979,355

614,320

979,455

885,305

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 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 22 December 2021 and were signed by:

Dame H L Mirren - Director

1.	STATUTORY INFORMATION

Two Tales Productions 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Other financial instruments are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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.

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.

Going concern

The Directors have assessed the current and future effects of COVID-19 on the Company. The Company has been able to continue to operate during the pandemic, on this basis, the Directors consider it appropriate to prepare the financial statements on a going concern basis.

4.	EMPLOYEES AND DIRECTORS

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

5.	FIXED ASSET INVESTMENTS

Listed

investments

£

COST OR VALUATION

At 1 April 2020

1,130,295

Additions

807

Disposals

(796,675

)

Revaluations

(334,427

)

At 31 March 2021

-

NET BOOK VALUE

At 31 March 2021

-

At 31 March 2020

1,130,295

Cost or valuation at 31 March 2021 is represented by:

Listed

investments

£

Valuation in 2019

549,534

Valuation in 2020

(215,107

)

Valuation in 2021

(334,427

)

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other debtors

-

1,372

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Taxation and social security

33,386

-

Other creditors

252,142

249,179

285,528

249,179

Included within other creditors disclosed above is a balance of £4,105 (2020 - £3,400) in relation to accrued expenses and a balance of £248,037 (2020 - £245,779) in relation to the directors loan accounts.