1 January 2022 false No description of principal activity Taxfiler 2023.9 10405582business:PrivateLimitedCompanyLtd2022-01-012022-12-31 104055822021-12-31 104055822022-01-012022-12-31 10405582business:AuditExemptWithAccountantsReport2022-01-012022-12-31 10405582business:FilletedAccounts2022-01-012022-12-31 104055822022-12-31 10405582business:Director12022-01-012022-12-31 10405582business:RegisteredOffice2022-01-012022-12-31 104055822021-12-31 10405582core:WithinOneYear2022-12-31 10405582core:WithinOneYear2021-12-31 10405582core:AfterOneYear2022-12-31 10405582core:AfterOneYear2021-12-31 10405582core:ShareCapitalcore:PreviouslyStatedAmount2022-12-31 10405582core:ShareCapitalcore:PreviouslyStatedAmount2021-12-31 10405582core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-12-31 10405582core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2021-12-31 10405582core:PreviouslyStatedAmount2022-12-31 10405582core:PreviouslyStatedAmount2021-12-31 10405582business:SmallEntities2022-01-012022-12-31 10405582countries:EnglandWales2022-01-012022-12-31 10405582core:FurnitureFittings2022-01-012022-12-31 10405582core:FurnitureFittings2021-12-31 10405582core:FurnitureFittings2022-12-31 10405582business:Director112022-01-012022-12-31 10405582business:Director112021-12-31 10405582business:Director112022-12-31 104055822021-01-012021-12-31 iso4217:GBP xbrli:pure
Company Registration No. 10405582 (England and Wales)
Distinct Productions Limited Unaudited accounts for the year ended 31 December 2022
Distinct Productions Limited Unaudited accounts Contents
Page
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Distinct Productions Limited Company Information for the year ended 31 December 2022
Director
Mr E D Palladino
Company Number
10405582 (England and Wales)
Registered Office
Windmill Farm Business Hub Bowstridge Lane Chalfont St Giles Buckinghamshire HP8 4RG
Accountants
Baker Accountancy Services Windmill Farm Business Hub Bowstridge Lane Chalfont St. Giles Bucks HP8 4RG
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Distinct Productions Limited for the year ended 31 December 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Distinct Productions Limited for the year ended 31 December 2022 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Distinct Productions Limited, as a body, in accordance with the terms of our engagement letter dated 20 July 2023. Our work has been undertaken solely to prepare for your approval the accounts of Distinct Productions Limited and state those matters that we have agreed to state to the Board of Directors of Distinct Productions Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Distinct Productions Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Distinct Productions Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Distinct Productions Limited. You consider that Distinct Productions Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Distinct Productions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Baker Accountancy Services Chartered Accountants Windmill Farm Business Hub Bowstridge Lane Chalfont St. Giles Bucks HP8 4RG 29 September 2023
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Distinct Productions Limited Statement of financial position as at 31 December 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,832 
1,548 
Current assets
Debtors
122,271 
75,728 
Cash at bank and in hand
122,994 
142,575 
245,265 
218,303 
Creditors: amounts falling due within one year
(217,517)
(164,918)
Net current assets
27,748 
53,385 
Total assets less current liabilities
30,580 
54,933 
Creditors: amounts falling due after more than one year
(23,250)
- 
Net assets
7,330 
54,933 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
7,230 
54,833 
Shareholders' funds
7,330 
54,933 
For the year ending 31 December 2022 the company was entitled to exemption from audit 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 accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 September 2023 and were signed on its behalf by
Mr E D Palladino Director Company Registration No. 10405582
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Distinct Productions Limited Notes to the Accounts for the year ended 31 December 2022
1
Statutory information
Distinct Productions Limited is a private company, limited by shares, registered in England and Wales, registration number 10405582. The registered office is Windmill Farm Business Hub, Bowstridge Lane, Chalfont St Giles, Buckinghamshire, HP8 4RG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25%
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Distinct Productions Limited Notes to the Accounts for the year ended 31 December 2022
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Foreign exchange
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 January 2022
2,064 
Additions
2,228 
At 31 December 2022
4,292 
Depreciation
At 1 January 2022
516 
Charge for the year
944 
At 31 December 2022
1,460 
Net book value
At 31 December 2022
2,832 
At 31 December 2021
1,548 
5
Debtors
2022 
2021 
£ 
£ 
Amounts falling due within one year
Trade debtors
22,949 
52,710 
Accrued income and prepayments
38,704 
- 
Other debtors
60,618 
23,018 
122,271 
75,728 
6
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Bank loans and overdrafts
1,550 
31,000 
VAT
19,144 
4,214 
Trade creditors
141,254 
71,216 
Taxes and social security
30,019 
27,808 
Other creditors
13,579 
16,565 
Accruals
11,971 
14,115 
217,517 
164,918 
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Distinct Productions Limited Notes to the Accounts for the year ended 31 December 2022
7
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Bank loans
23,250 
- 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Director's loan
23,018 
- 
9,300 
13,718 
23,018 
- 
9,300 
13,718 
This amount represents a loan to the directors from the company. The loan is subject to interest at the HMRC official rate, it is unsecured and repayable on demand.
9
Transactions with related parties
During the year, the company made loans amounting to £41,522 (2021 – £nil) to Yellow Days Limited, a company in which Mr E D Palladino has a controlling interest.
10
Average number of employees
During the year the average number of employees was 1 (2021: 1).
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