Plastic Buddha Productions Limited - Limited company - abbreviated - 11.0.0

Plastic Buddha Productions Limited

Abbreviated Accounts for the Year Ended 31 December 2013

The following reproduces the text of the report prepared for the director in respect of the

company's annual unaudited financial statements, from which the unaudited abbreviated

accounts (set out on pages two to five) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for

your approval the financial statements of Plastic Buddha Productions Limited for the year ended

31 December 2013 which comprise the Profit and Loss Account, the Balance Sheet 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 at

icaew.com/membershandbook.

This report is made solely to the director of Plastic Buddha Productions Limited in accordance with

our terms of engagement. Our work has been undertaken solely to prepare for your approval the

financial statements of Plastic Buddha Productions Limited and state those matters that we have

agreed to state to the director of Plastic Buddha Productions Limited in this report in accordance

with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do

not accept or assume responsibility to anyone other than the company and its director for our work

or for this report.

It is your duty to ensure that Plastic Buddha Productions Limited 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 Plastic Buddha Productions Limited. You consider that

Plastic Buddha Productions Limited 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 Plastic

Buddha Productions Limited. 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.

BPU Limited

Chartered Accountants

24 September 2014

FIXED ASSETS

Intangible assets

2

13,166

13,166

Tangible assets

3

7,584

4,422

20,750

17,588

CURRENT ASSETS

Work in Progress

1,440

100

Debtors

34,931

17,740

Cash at bank

7,724

6,317

44,095

24,157

CREDITORS

Amounts falling due within one year

51,768

39,751

NET CURRENT LIABILITIES

(7,673

)

(15,594

)

TOTAL ASSETS LESS CURRENT LIABILITIES

13,077

1,994

CREDITORS

Amounts falling due after more than one year

13,579

15,854

NET LIABILITIES

(502

)

(13,860

)

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

(504

)

(13,862

)

SHAREHOLDERS' FUNDS

(502

)

(13,860

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2013 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 24 September 2014 and were signed by:

C H George - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in

accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Intangible fixed assets

Film production costs are included as intangible fixed assets when incurred and are

amortised in line with income on a pound for pound basis.

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

-

25% straight line

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable

overheads.

Deferred tax

Full provision is made for deferred taxation resulting from timing differences between the

recognition of gains and losses in the accounts and their recognition for tax purposes.

Deferred taxation is calculated on an un-discounted basis at the tax rates which are

expected to apply in the periods when the timing differences will reverse.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2013

and 31 December 2013

13,166

NET BOOK VALUE

At 31 December 2013

13,166

At 31 December 2012

13,166

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2013

23,956

Additions

6,405

At 31 December 2013

30,361

DEPRECIATION

At 1 January 2013

19,534

Charge for year

3,243

At 31 December 2013

22,777

NET BOOK VALUE

At 31 December 2013

7,584

At 31 December 2012

4,422

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2013

2012

value:

£

£

2

Ordinary

£1

2

2

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended

31 December 2013 and 31 December 2012:

2013

2012

£

£

C H George

Balance outstanding at start of year

11,226

13,932

Amounts advanced

38,955

17,847

Amounts repaid

(18,231

)

(20,553

)

Balance outstanding at end of year

31,950

11,226