Company Registration No. 07003674 (England and Wales)
Halfnote Productions Limited
Unaudited accounts
for the year ended 31 March 2023
Halfnote Productions Limited
Unaudited accounts
Contents
Halfnote Productions Limited
Company Information
for the year ended 31 March 2023
Directors
N R Hagner
L M Cortesao
Company Number
07003674 (England and Wales)
Registered Office
The Gallery
3 New Quay Street
Teignmouth
Devon
TQ14 8DA
Accountants
Yannons Chartered Accountants
The Gallery
New Quay Street
Teignmouth
Devon
TQ14 8DA
Halfnote Productions Limited
Statement of financial position
as at 31 March 2023
Tangible assets
14,736
11,070
Cash at bank and in hand
36,010
50,264
Creditors: amounts falling due within one year
(51,090)
(52,577)
Net current assets
32,205
50,602
Total assets less current liabilities
46,941
61,672
Provisions for liabilities
Deferred tax
(1,823)
(2,103)
Called up share capital
3
3
Profit and loss account
45,115
59,566
Shareholders' funds
45,118
59,569
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2023 and were signed on its behalf by
N R Hagner
Director
Company Registration No. 07003674
Halfnote Productions Limited
Notes to the Accounts
for the year ended 31 March 2023
Halfnote Productions Limited is a private company, limited by shares, registered in England and Wales, registration number 07003674. The registered office is The Gallery, 3 New Quay Street, Teignmouth, Devon, TQ14 8DA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on cost
Fixtures & fittings
25% on cost
Computer equipment
25% on cost
Turnover represents the net sales value of services delivered and expenses recharged during the year excluding any related vat.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Halfnote Productions Limited
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2022
-
-
17,689
17,689
Additions
1,600
411
7,751
9,762
Disposals
-
-
(4,255)
(4,255)
At 31 March 2023
1,600
411
21,185
23,196
At 1 April 2022
-
-
6,619
6,619
Charge for the year
150
56
4,265
4,471
On disposals
-
-
(2,630)
(2,630)
At 31 March 2023
150
56
8,254
8,460
At 31 March 2023
1,450
355
12,931
14,736
At 31 March 2022
-
-
11,070
11,070
Amounts falling due within one year
Trade debtors
40,560
36,120
Accrued income and prepayments
6,725
-
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
26,926
26,931
Loans from directors
535
-
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
1 "A" shares of £1 each
1
1
1 "B" shares of £1 each
1
1
Halfnote Productions Limited
Notes to the Accounts
for the year ended 31 March 2023
8
Operating lease commitments
2023
2022
At 31 March 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
10,206
-
Later than one year and not later than five years
7,654
-
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Amounts advanced
8,631
-
8,631
-
Amounts advanced
8,164
-
8,164
-
10
Average number of employees
During the year the average number of employees was 2 (2022: 2).
