Accounts filed on 30-09-2017

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			Company registration number:			02643675
PILOT FILM AND TELEVISION PRODUCTIONS LIMITED
REPORT OF THE DIRECTOR'S AND
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 September 2017

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PILOT FILM AND TELEVISION PRODUCTIONS LIMITED
BALANCE SHEET
AS AT 30 September 2017
					2017				2016
				Notes	£		£		£		£
FIXED ASSETS
Tangible assets				3			759,698				761,045
							759,698				761,045
CURRENT ASSETS
Stocks					679,427				530,849
Debtors					558,935				619,284
Cash at bank and in hand					27,666				65,156
					1,266,028				1,215,289
CREDITORS
Amounts falling due within one year					(1,496,103)				(1,188,155)
NET CURRENT ASSETS							(230,075)				27,134
TOTAL ASSETS LESS
CURRENT LIABILITIES							529,623				788,179
NET ASSETS							529,623				788,179
CAPITAL AND RESERVES
Called-up equity share capital							820				820
Share Premium Account							180				180
Revaluation Reserve							437,944				437,944
Profit and loss account							90,679				349,235
SHAREHOLDERS FUNDS							529,623				788,179
For the period ending 30 September 2017 the company was entitled to exemption under 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.
All the members have consented to the preparation of abridged financial statements for the PERIOD ended 30 September 2017 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. Approved by the board of directors on 20 March 2018 and signed on its behalf.
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I.R.CROSS
20 March 2018
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 2017

1.

Accounting policies

Statutory information

Pilot Film and Television Productions 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. The presentation currency of the financial statements is the £ sterling.

Statement of compliance

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. There were no material departures from the standard.

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. 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.

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.

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.

2.

Employees

The average number of persons employed by the company (including directors during the year was 12 (2016: 15).

3.

Tangible fixed assets

Total

Cost

At start of period

1,043,473

Additions

8,423

At end of period

1,051,896

Depreciation

At start of period

282,453

Provided during the period

9,745

At end of period

292,198

Net Book Value

At start of period

761,045

At end of period

759,698

Plant & Machinery represents Website costs.

4.	Contingent liabilties
	There were no contingent liabilities at 30 September 2017 or 2016.

5.

Related Party Transactions

Included within debtors is £254,221 (2016: £276,096) owed from 555 Productions Inc., a company incorporated in the USA. 555 Productions Inc. is a related party by virtue of I.R.Cross holding a controlling interest in the entity. During the year the company invoiced nil (2016: £144,940) fees to 555 Productions Inc. Included within creditors is £ nil (2016: £0) that is owed to Pilot Productions (Asia) PTE Ltd.