Animal Productions Limited Small abbreviated accounts
Animal Productions Limited Small abbreviated accounts
COMPANY REGISTRATION NUMBER
05055504
ABBREVIATED BALANCE SHEET
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2016 |
2015 |
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Note |
£ |
£ |
£ |
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FIXED ASSETS |
2 |
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Tangible assets |
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CURRENT ASSETS
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Cash at bank and in hand |
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CREDITORS: Amounts falling due within one year |
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---- |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CAPITAL AND RESERVES
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Called up equity share capital |
3 |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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Director's responsibilities:
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The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts were approved and signed by the director and authorised for issue on
13 January 2017
.
Company Registration Number:
05055504
NOTES TO THE ABBREVIATED ACCOUNTS
YEAR ENDED 30 APRIL 2016
1.
ACCOUNTING POLICIES
Basis of accounting
Finance lease agreements
Where the company enters into a lease, which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. The asset is recorded in the balance sheet as a film asset investment and is amortised in accordance with the accounting policy below. Future instalments under such leases, net of finance charges, are included with creditors. Rentals payable are apportioned between the finance element, which is charged to the Profit and Loss Account on a a straight-line basis, and the capital element, which reduces the outstanding obligation for future instalments.
Where the company has entered into a sale and leaseback agreement, the finance lease is matched by secured deposit such that interest earned on the deposit will cover the interest charge on the finance lease over the term of the lease. The deposit is only to be used to settle the finance lease liability and therefore it has been offset with the finance lease creditor to show the net unmatched liability at the year end. Similarly, the interest earned on the deposit is offset against the interest charges within the lease payment.
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided on the film asset in accordance with the cost recovery method whereby depreciation is taken to the profit and loss account on the same as the income received in the accounting period.
2.
FIXED ASSETS
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Tangible Assets |
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£ |
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COST
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At 1 May 2015 and 30 April 2016 |
8,066,066 |
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DEPRECIATION
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At 1 May 2015 |
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At 30 April 2016 |
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NET BOOK VALUE
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At 30 April 2016 |
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At 30 April 2015 |
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The film asset is held under a finance lease.
3.
SHARE CAPITAL
Allotted, called up and fully paid:
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2016 |
2015 |
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No. |
£ |
No. |
£ |
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CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF ANIMAL PRODUCTIONS LIMITED
YEAR ENDED 30 APRIL 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Animal Productions Limited for the year ended 30 April 2016 which comprise 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
Our work has been undertaken in accordance with the requirements of Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.