Picture Farm Studios Ltd - Accounts to registrar - small 16.3

REGISTERED NUMBER: 09444429 (England and Wales)

Unaudited Financial Statements

for the Period

17 February 2015 to 29 February 2016

for

Picture Farm Studios Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

D G Walker

REGISTERED OFFICE:

49 Front Street

Framwellgate Moor

Co. Durham

DH1 5BL

REGISTERED NUMBER:

09444429 (England and Wales)

ACCOUNTANTS:

Pullan Barnes

Chartered Accountants

Stephenson House

Richard Street

Hetton-le-Hole

Tyne and Wear

DH5 9HW

FIXED ASSETS

Tangible assets

4

51,647

CURRENT ASSETS

Debtors

5

2,125

Cash at bank

1,402

3,527

CREDITORS

Amounts falling due within one year

6

35,014

NET CURRENT LIABILITIES

(31,487

)

TOTAL ASSETS LESS CURRENT LIABILITIES

20,160

PROVISIONS FOR LIABILITIES

7

7,094

NET ASSETS

13,066

CAPITAL AND RESERVES

Called up share capital

30

Retained earnings

13,036

SHAREHOLDERS' FUNDS

13,066

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 February 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 February 2016 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 17 November 2016 and were signed by:

D G Walker - Director

1.	STATUTORY INFORMATION

Picture Farm Studios Ltd 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added

tax and other sales taxes.

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 etc

-

33% on reducing balance and 20% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of

financial position date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

63,972

At 29 February 2016

63,972

DEPRECIATION

Charge for period

12,325

At 29 February 2016

12,325

NET BOOK VALUE

At 29 February 2016

51,647

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

2,125

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Payments on account

3,250

Trade creditors

1,749

Taxation and social security

27,547

Other creditors

2,468

35,014

7.	PROVISIONS FOR LIABILITIES

£

Deferred tax

7,094

Deferred

tax

£

Provided during period

7,094

Balance at 29 February 2016

7,094

8.	ULTIMATE CONTROLLING PARTY

In the period ended 29th February 2016, the controlling parties were Mr D Walker & Mrs K Walker by virtue of their

shareholdings in the company.