Pan & Tilt Productions Limited 04979194 false 2021-05-01 2022-04-30 2022-04-30 The principal activity of the company is of film production. Digita Accounts Production Advanced 6.30.9574.0 true 04979194 2021-05-01 2022-04-30 04979194 2022-04-30 04979194 bus:Revised 2022-04-30 04979194 core:CurrentFinancialInstruments 2022-04-30 04979194 core:CurrentFinancialInstruments core:WithinOneYear 2022-04-30 04979194 core:Goodwill 2022-04-30 04979194 core:FurnitureFittingsToolsEquipment 2022-04-30 04979194 core:MotorVehicles 2022-04-30 04979194 core:OtherPropertyPlantEquipment 2022-04-30 04979194 bus:SmallEntities 2021-05-01 2022-04-30 04979194 bus:AuditExemptWithAccountantsReport 2021-05-01 2022-04-30 04979194 bus:FullAccounts 2021-05-01 2022-04-30 04979194 bus:SmallCompaniesRegimeForAccounts 2021-05-01 2022-04-30 04979194 bus:RegisteredOffice 2021-05-01 2022-04-30 04979194 bus:CompanySecretary1 2021-05-01 2022-04-30 04979194 bus:Director1 2021-05-01 2022-04-30 04979194 bus:PrivateLimitedCompanyLtd 2021-05-01 2022-04-30 04979194 core:Goodwill 2021-05-01 2022-04-30 04979194 core:ComputerEquipment 2021-05-01 2022-04-30 04979194 core:FurnitureFittingsToolsEquipment 2021-05-01 2022-04-30 04979194 core:MotorVehicles 2021-05-01 2022-04-30 04979194 core:OtherPropertyPlantEquipment 2021-05-01 2022-04-30 04979194 core:PlantMachinery 2021-05-01 2022-04-30 04979194 countries:EnglandWales 2021-05-01 2022-04-30 04979194 2021-04-30 04979194 core:Goodwill 2021-04-30 04979194 core:FurnitureFittingsToolsEquipment 2021-04-30 04979194 core:MotorVehicles 2021-04-30 04979194 core:OtherPropertyPlantEquipment 2021-04-30 04979194 2020-05-01 2021-04-30 04979194 2021-04-30 04979194 core:CurrentFinancialInstruments 2021-04-30 04979194 core:CurrentFinancialInstruments core:WithinOneYear 2021-04-30 04979194 core:FurnitureFittingsToolsEquipment 2021-04-30 04979194 core:MotorVehicles 2021-04-30 04979194 core:OtherPropertyPlantEquipment 2021-04-30 iso4217:GBP xbrli:pure

Registration number: 04979194

Pan & Tilt Productions Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2022

 

Pan & Tilt Productions Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Pan & Tilt Productions Limited

Company Information

Director

Mr GA Spratling

Company secretary

Mrs J Spratling

Registered office

Fawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD

Accountants

Sterling Grove Accountants Limited
Chartered Certified Accountants
Fawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD

 

Pan & Tilt Productions Limited

(Registration number: 04979194)
Balance Sheet as at 30 April 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

5

48,034

14,552

Current assets

 

Debtors

6

3,282

657

Cash at bank and in hand

 

125,460

119,505

 

128,742

120,162

Creditors: Amounts falling due within one year

7

(10,389)

(8,694)

Net current assets

 

118,353

111,468

Total assets less current liabilities

 

166,387

126,020

Provisions for liabilities

(9,100)

(2,765)

Net assets

 

157,287

123,255

Capital and reserves

 

Called up share capital

100

100

Retained earnings

157,187

123,155

Shareholders' funds

 

157,287

123,255

For the financial year ending 30 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 31 August 2022
 

.........................................
Mr GA Spratling
Director

 

Pan & Tilt Productions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Fawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD
United Kingdom

These financial statements were authorised for issue by the director on 31 August 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Government grants

Government grants are recognised under the accrual model of grant recognition. This model requires the grant to be classified as either a revenue-based grant or a capital-based grant.

Government grants are recognised in profit or loss on a systematic basis over the periods in which the entity recognises expenses for the related costs for which the grants are intended to compensate.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Pan & Tilt Productions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% on reducing balance

Motor vehicles

25% on reducing balance

Fixtures, fittings and equipment

20% on reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

over 15 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Pan & Tilt Productions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2021 - 1).

 

Pan & Tilt Productions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2021

62,500

62,500

At 30 April 2022

62,500

62,500

Amortisation

At 1 May 2021

62,500

62,500

At 30 April 2022

62,500

62,500

Carrying amount

At 30 April 2022

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 May 2021

7,398

25,369

28,201

60,968

Additions

655

42,483

1,187

44,325

Disposals

-

(25,369)

-

(25,369)

At 30 April 2022

8,053

42,483

29,388

79,924

Depreciation

At 1 May 2021

6,145

17,487

22,784

46,416

Charge for the year

323

2,598

1,222

4,143

Eliminated on disposal

-

(18,669)

-

(18,669)

At 30 April 2022

6,468

1,416

24,006

31,890

Carrying amount

At 30 April 2022

1,585

41,067

5,382

48,034

At 30 April 2021

1,253

7,882

5,417

14,552

 

Pan & Tilt Productions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

6

Debtors

Current

2022
£

2021
£

Trade debtors

457

312

Prepayments

912

-

Other debtors

1,913

345

 

3,282

657

7

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Amounts owed to related parties

89

592

Taxation and social security

 

-

658

Accruals and deferred income

 

300

300

Corporation tax

 

10,000

7,144

 

10,389

8,694