ACCOUNTS - Final Accounts preparation

LOKA PRODUCTIONS LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31false2022-01-01No description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09899211 2022-01-01 2022-12-31 09899211 2021-01-01 2021-12-31 09899211 2022-12-31 09899211 2021-12-31 09899211 c:Director1 2022-01-01 2022-12-31 09899211 d:FurnitureFittings 2022-01-01 2022-12-31 09899211 d:FurnitureFittings 2022-12-31 09899211 d:FurnitureFittings 2021-12-31 09899211 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 09899211 d:CurrentFinancialInstruments 2022-12-31 09899211 d:CurrentFinancialInstruments 2021-12-31 09899211 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09899211 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 09899211 d:ShareCapital 2022-12-31 09899211 d:ShareCapital 2021-12-31 09899211 d:RetainedEarningsAccumulatedLosses 2022-12-31 09899211 d:RetainedEarningsAccumulatedLosses 2021-12-31 09899211 c:FRS102 2022-01-01 2022-12-31 09899211 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 09899211 c:FullAccounts 2022-01-01 2022-12-31 09899211 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 09899211

LOKA PRODUCTIONS LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

LOKA PRODUCTIONS LIMITED

REGISTERED NUMBER: 09899211

BALANCE SHEET

AS AT 31 DECEMBER 2022

		2022		2021
Note		£		£

Fixed assets
Tangible assets	4		5,655		3,856
			5,655		3,856
Current assets
Debtors: amounts falling due within one year	5	3,437		1,069
Cash at bank and in hand	6	18,086		46,953
		21,523		48,022
Creditors: amounts falling due within one year	7	(26,245)		(51,448)
Net current liabilities			(4,722)		(3,426)
Total assets less current liabilities			933		430

Net assets			933		430

Capital and reserves
Called up share capital	1	1
Profit and loss account	932	429
	933	430

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LOKA PRODUCTIONS LIMITED

REGISTERED NUMBER: 09899211

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2022

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

E Dolman

Director

Date: 28 September 2023

The notes on pages 3 to 6 form part of these financial statements.

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LOKA PRODUCTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

1.	General information

Loka Productions Limited is a private company limited by shares. The company is incorporated in England and Wales and the address of the registered office is Aston House, Cornwall Anenue, London N3 1LF. The company registration number is 09899211.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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LOKA PRODUCTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

2.3

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures, fittings & equipment

25%

reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).

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LOKA PRODUCTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

4.	Tangible fixed assets

		Fixtures and fittings
		£
	Cost or valuation
	At 1 January 2022	8,502
	Additions	3,392
	At 31 December 2022	11,894
	Depreciation
	At 1 January 2022	4,646
	Charge for the year on owned assets	1,593
	At 31 December 2022	6,239
	Net book value
	At 31 December 2022	5,655
	At 31 December 2021	3,856

Debtors

					2022	2021
					£	£


Trade debtors	848	-
Other debtors	2,589	1,069
	3,437	1,069

6.	Cash and cash equivalents
		2022	2021
		£	£

Cash at bank and in hand	18,086	46,952
	18,086	46,952

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LOKA PRODUCTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

7.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Corporation tax	630	-
Other taxation and social security	846	280
Other creditors	24,269	50,668
Accruals and deferred income	500	500
	26,245	51,448

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