BLACK HANGAR STUDIOS LIMITED - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07009416 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2017

for

BLACK HANGAR STUDIOS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N Brouet

J G Seal

A Worrall

REGISTERED OFFICE:

The Black Hangar

Lasham Airfield

Lasham

Alton

GU34 5SG

REGISTERED NUMBER:

07009416 (England and Wales)

ACCOUNTANTS:

B20 Limited

Chartered Certified Accountants

Charwell House

Wilsom Road

Alton

Hampshire

GU34 2PP

FIXED ASSETS

Tangible assets

3

1,143,097

1,389,893

CURRENT ASSETS

Debtors

4

76,143

234,997

Cash at bank and in hand

43,974

1,216

120,117

236,213

CREDITORS

Amounts falling due within one year

5

(79,887

)

(181,825

)

NET CURRENT ASSETS

40,230

54,388

TOTAL ASSETS LESS CURRENT LIABILITIES

1,183,327

1,444,281

CREDITORS

Amounts falling due after more than one year

6

(1,925,900

)

(1,825,161

)

NET LIABILITIES

(742,573

)

(380,880

)

CAPITAL AND RESERVES

Called up share capital

4,362,929

4,281,929

Share premium

162,888

162,888

Other reserves

448,838

448,838

Retained earnings

(5,717,228

)

(5,274,535

)

SHAREHOLDERS' FUNDS

(742,573

)

(380,880

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 20 March 2018 and were signed on its behalf by:

J G Seal - Director

1.	STATUTORY INFORMATION

BLACK HANGAR STUDIOS LIMITED 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.

Studio facilities & water tank

-

10% on cost

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

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

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	TANGIBLE FIXED ASSETS

Studio

facilities

Fixtures

& water

and

Computer

tank

fittings

equipment

Totals

£

£

£

£

COST

At 1 October 2016

and 30 September 2017

2,181,789

109,572

92,497

2,383,858

DEPRECIATION

At 1 October 2016

867,530

87,185

39,250

993,965

Charge for year

218,179

5,597

23,020

246,796

At 30 September 2017

1,085,709

92,782

62,270

1,240,761

NET BOOK VALUE

At 30 September 2017

1,096,080

16,790

30,227

1,143,097

At 30 September 2016

1,314,259

22,387

53,247

1,389,893

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Trade debtors

16,810

187,997

Other debtors

59,333

47,000

76,143

234,997

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Trade creditors

40,645

50,420

Taxation and social security

38,741

113,021

Other creditors

501

18,384

79,887

181,825

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.17

30.9.16

£

£

Other creditors

1,925,900

1,825,161