Accounts filed on 30-09-2015

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			Company registration number:02643675
		PILOT FILM AND TELEVISION PRODUCTIONS LIMITED
			ABBREVIATED FINANCIAL STATEMENTS
			FOR THE PERIOD ENDED 30 September 2015

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PILOT FILM AND TELEVISION PRODUCTIONS LIMITED
BALANCE SHEET
AS AT 30 September 2015
			2015				2014
		Notes	£		£		£		£
FIXED ASSETS
Tangible assets		2			772,527				786,893
					772,527				786,893
CURRENT ASSETS
Stocks			367,701				251,652
Debtors			591,417				726,644
Cash at bank and in hand			49,215				48,936
			1,008,333				1,027,232
CREDITORS
Amounts falling due within one year			(487,069)				(579,167)
NET CURRENT ASSETS					521,264				448,065
TOTAL ASSETS LESS
CURRENT LIABILITIES					1,293,791				1,234,958
Creditors falling due after one year					(623,556)				(695,504)
NET ASSETS					670,235				539,454
CAPITAL AND RESERVES
Called-up equity share capital		3			820				820
Share Premium Account					180				180
Revaluation Reserve					437,944				437,944
Profit and loss account					231,291				100,510
SHAREHOLDERS FUNDS					670,235				539,454
For the period ending 30 September 2015 the company was entitled to exempt 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts.
These financial statements have been prepared in accordance with the special provisions relating to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). Approved by the board of directors on 3 June 2016 and signed on its behalf.
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I.R.CROSS
3 June 2016
The annexed notes form part of these financial statements.

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PILOT FILM AND TELEVISION PRODUCTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2015

1.

Accounting policies

Basis of preparing the financial statements

The accounts 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 amounts invoiced in respect of programmes completed, royalties receivable for the year for sale of broadcasting rights, ancillary rights and sale of videos and other merchandise. In the case of long term contracts, turnover reflects the contract activity during the year. This represents the stage payments due, subject to them not being in excess of the proportion of total contract costs incurred to date and the total expected contract costs.

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

Foreign currency

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

Fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is calculated so as to write off the cost of an asset over th useful economic life of that asset as follows:

Fixtures and Fittings - 20 % per annum reducing balance

Freehold Property - 25% per annum of cost

Stocks and work In progress

Stocks are stated at the lower of cost and net realisable value.

Leasing

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Deferred taxation

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.

Long Term Contracts

The attributable profit on long term contracts is recognised once their outcome can be assessed with reasonable certainty. The profit recognised reflects the proportion of work completed to date on the project. Reasonable certainty is considered to exist only where expected income and sales to date exceed total expected costs.

Group Accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small sized group. The company has therefore taken advantage of the exemption provided by Companies Act 2006 not to prepare group accounts.

Financial Instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

2.	Tangible fixed assets
				Total
	Cost
	At start of period			1,043,497
	At end of period			1,043,497
	Depreciation
	At start of period			256,604
	Provided during the period			14,367
	At end of period			270,971
	Net Book Value
	At start of period			786,893
	At end of period			772,527

3.	Share capital				Allotted, issued and fully paid
					2015	2014
					£	£
	Ordinary shares of £1 each				820	820
	Total issued share capital				820	820
4.	Ultimate controlling party
	The ultimate controlling party is I R Cross, the director of the company.