Brian Morris Productions Ltd 30/06/2018 iXBRL

Brian Morris Productions Ltd 30/06/2018 iXBRL

BRIAN MORRIS PRODUCTIONS LTD - Company Information

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30/06/2018 2018-06-30 false false false false false false false false false false true false false true false false false false true true true false No description of principal activities is disclosed 2017-07-01 Sage Accounts Production 18.30 - FRS xbrli:pure xbrli:shares iso4217:GBP 09084597 2017-07-01 2018-06-30 09084597 2018-06-30 09084597 2017-06-30 09084597 2016-07-01 2017-06-30 09084597 2017-06-30 09084597 core:NetGoodwill 2017-07-01 2018-06-30 09084597 core:FurnitureFittingsToolsEquipment 2017-07-01 2018-06-30 09084597 bus:RegisteredOffice 2017-07-01 2018-06-30 09084597 bus:LeadAgentIfApplicable 2017-07-01 2018-06-30 09084597 bus:Director1 2017-07-01 2018-06-30 09084597 core:NetGoodwill 2017-06-30 09084597 core:NetGoodwill 2018-06-30 09084597 core:FurnitureFittingsToolsEquipment 2017-06-30 09084597 core:FurnitureFittingsToolsEquipment 2018-06-30 09084597 core:WithinOneYear 2018-06-30 09084597 core:WithinOneYear 2017-06-30 09084597 core:RetainedEarningsAccumulatedLosses 2017-06-30 09084597 core:RetainedEarningsAccumulatedLosses 2016-06-30 09084597 core:RetainedEarningsAccumulatedLosses 2018-06-30 09084597 core:RetainedEarningsAccumulatedLosses 2017-06-30 09084597 core:ShareCapital 2018-06-30 09084597 core:ShareCapital 2017-06-30 09084597 core:NetGoodwill 2017-06-30 09084597 core:FurnitureFittingsToolsEquipment 2017-06-30 09084597 bus:SmallEntities 2017-07-01 2018-06-30 09084597 bus:AuditExemptWithAccountantsReport 2017-07-01 2018-06-30 09084597 bus:FullAccounts 2017-07-01 2018-06-30 09084597 bus:SmallCompaniesRegimeForAccounts 2017-07-01 2018-06-30 09084597 bus:PrivateLimitedCompanyLtd 2017-07-01 2018-06-30
Company registration number: 09084597
Brian Morris Productions Ltd
Trading as Brian Morris Productions Ltd
Unaudited financial statements
30 June 2018
Brian Morris Productions Ltd
Contents
Directors and other information
Director's report
Accountant's report
Statement of income and retained earnings
Statement of financial position
Notes to the financial statements
Brian Morris Productions Ltd
Directors and other information
Director Mr Brian Morris
Company number 09084597
Registered office 19 St Michaels Avenue
Aylsham
Norwich
Norfolk
NR11 6YA
Business address 19 St Michaels Avenue
Aylsham
Norwich
Norfolk
NR11 6YA
Accountant Make It Count (Accountancy Services) Ltd
3 Malleson Place
East Carleton
Norwich
Norfolk
NR14 8JA
Brian Morris Productions Ltd
Director's report
Year ended 30 June 2018
The director presents his report and the unaudited financial statements of the company for the year ended 30 June 2018.
Director
The director who served the company during the year was as follows:
Mr Brian Morris
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 19 July 2018 and signed on behalf of the board by:
Mr Brian Morris
Director
Brian Morris Productions Ltd
Report to the director on the preparation of the
unaudited statutory financial statements of Brian Morris Productions Ltd
Year ended 30 June 2018
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Brian Morris Productions Ltd for the year ended 30 June 2018 which comprise the statement of income and retained earnings, statement of financial position and related notes from the company's accounting records and from information and explanations you have given me.
As a practising member of Association of Accounting Technicians, I am subject to its ethical and other professional requirements which are detailed at www.aat.org.uk.
My work has been undertaken in accordance with the requirements of Association of Accounting Technicians as detailed at www.aat.org.uk
Make It Count (Accountancy Services) Ltd
MAAT
3 Malleson Place
East Carleton
Norwich
Norfolk
NR14 8JA
19 July 2018
Brian Morris Productions Ltd
Statement of income and retained earnings
Year ended 30 June 2018
2018 2017
Note £ £
Turnover 50,200 44,356
Cost of sales ( 3,692) ( 5,323)
_______ _______
Gross profit 46,508 39,033
Administrative expenses ( 21,549) ( 20,967)
_______ _______
Operating profit 24,959 18,066
_______ _______
Profit before taxation 5 24,959 18,066
Tax on profit ( 4,799) ( 3,575)
_______ _______
Profit for the financial year and total comprehensive income 20,160 14,491
_______ _______
Dividends declared and paid or payable during the year ( 16,000) ( 14,000)
Retained earnings at the start of the year 810 319
_______ _______
Retained earnings at the end of the year 4,970 810
_______ _______
All the activities of the company are from continuing operations.
Brian Morris Productions Ltd
Statement of financial position
30 June 2018
2018 2017
Note £ £ £ £
Fixed assets
Intangible assets 6 4,000 8,000
Tangible assets 7 10,818 5,138
_______ _______
14,818 13,138
Current assets
Debtors 8 4,948 4,162
Cash at bank and in hand 8,246 9,181
_______ _______
13,194 13,343
Creditors: amounts falling due
within one year 9 ( 20,877) ( 24,642)
_______ _______
Net current liabilities ( 7,683) ( 11,299)
_______ _______
Total assets less current liabilities 7,135 1,839
Provisions for liabilities ( 2,164) ( 1,028)
_______ _______
Net assets 4,971 811
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 4,970 810
_______ _______
Shareholder funds 4,971 811
_______ _______
For the year ending 30 June 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements were approved by the board of directors and authorised for issue on 19 July 2018 , and are signed on behalf of the board by:
Mr Brian Morris
Director
Company registration number: 09084597
Brian Morris Productions Ltd
Notes to the financial statements
Year ended 30 June 2018
1. General information
The company is a private company limited by shares, registered in . The address of the registered office is 19 St Michaels Avenue, Aylsham, Norwich, Norfolk, NR11 6YA.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 20 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 20 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2017: Nil).
5. Profit before taxation
Profit before taxation is stated after charging/(crediting):
2018 2017
£ £
Amortisation of intangible assets 4,000 4,000
Depreciation of tangible assets 2,705 1,284
_______ _______
6. Intangible assets
Goodwill Total
£ £
Cost
At 1 July 2017 and 30 June 2018 20,000 20,000
_______ _______
Amortisation
At 1 July 2017 12,000 12,000
Charge for the year 4,000 4,000
_______ _______
At 30 June 2018 16,000 16,000
_______ _______
Carrying amount
At 30 June 2018 4,000 4,000
_______ _______
At 30 June 2017 8,000 8,000
_______ _______
7. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 July 2017 7,650 7,650
Additions 8,385 8,385
_______ _______
At 30 June 2018 16,035 16,035
_______ _______
Depreciation
At 1 July 2017 2,512 2,512
Charge for the year 2,705 2,705
_______ _______
At 30 June 2018 5,217 5,217
_______ _______
Carrying amount
At 30 June 2018 10,818 10,818
_______ _______
At 30 June 2017 5,138 5,138
_______ _______
8. Debtors
2018 2017
£ £
Trade debtors 4,948 4,162
_______ _______
9. Creditors: amounts falling due within one year
2018 2017
£ £
Corporation tax 3,663 3,029
Other creditors 17,214 21,613
_______ _______
20,877 24,642
_______ _______
10. Directors advances, credits and guarantees