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Registration number: 09942185

Wilburr Productions Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2023
























 

 

Wilburr Productions Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Wilburr Productions Ltd

Company Information

Director

Mr A W Watson

Registered office

92 Lea Bridge Road
London
E5 9QD

 

Wilburr Productions Ltd

(Registration number: 09942185)
Balance Sheet as at 31 January 2023

Note

2023
£

2021
£

Fixed assets

 

Tangible assets

4

3,936

5,220

Current assets

 

Debtors

5

15,182

16,160

Cash at bank and in hand

 

3,679

3,839

 

18,861

19,999

Creditors: Amounts falling due within one year

6

(13,170)

(12,600)

Net current assets

 

5,691

7,399

Total assets less current liabilities

 

9,627

12,619

Creditors: Amounts falling due after more than one year

6

(8,654)

(11,569)

Provisions for liabilities

(748)

(992)

Net assets

 

225

58

Capital and reserves

 

Called up share capital

7

1

1

Profit and loss account

224

57

Total equity

 

225

58

For the financial year ending 31 January 2023 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 August 2023
 

.........................................
Mr A W Watson
Director

 

Wilburr Productions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

1

General information

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

The address of its registered office is:
92 Lea Bridge Road
London
E5 9QD

These financial statements were authorised for issue by the director on 30 August 2023.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Revenue is recognised when the work is completed.

Tax

The tax expense for the period comprises of 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.

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.

 

Wilburr Productions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

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

Computer equipment

50% reducing balance

Digital equipment

25% reducing balance

Plant and equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise of 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.

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. 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Wilburr Productions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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 (2022 - 1).

 

Wilburr Productions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2022

9,121

4,705

13,826

Additions

283

-

283

Disposals

(902)

-

(902)

At 31 January 2023

8,502

4,705

13,207

Depreciation

At 1 February 2022

5,331

3,275

8,606

Charge for the year

1,066

358

1,424

Eliminated on disposal

(759)

-

(759)

At 31 January 2023

5,638

3,633

9,271

Carrying amount

At 31 January 2023

2,864

1,072

3,936

At 31 January 2022

3,790

1,430

5,220

5

Debtors

Current

2023
£

2021
£

Trade debtors

-

4,762

Prepayments

353

316

Other debtors

14,829

11,082

 

15,182

16,160

 

Wilburr Productions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2021
£

Due within one year

 

Bank loans and overdrafts

8

3,359

3,287

Trade creditors

 

424

-

Taxation and social security

 

2,276

3,242

Other creditors

 

7,111

6,071

 

13,170

12,600

Due after one year

 

Loans and borrowings

8

8,654

11,569

7

Share capital

Allotted, called up and fully paid shares

 

2023

2020

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

         

8

Loans and borrowings

2023
£

2020
£

Non-current loans and borrowings

Bank borrowings

8,654

11,569

2023
£

2020
£

Current loans and borrowings

Bank borrowings

3,359

3,287

 

Wilburr Productions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

9

Related party transactions

Transactions with the director

2023

At 1 February 2022
£

Advances to director
£

Repayments by director
£

At 31 January 2023
£

Mr A W Watson

2021/22 advances

9,962

-

(9,962)

-

2022/23 advances

-

14,545

-

14,545

 

9,962

14,545

(9,962)

14,545

       

 

2022

At 1 February 2021
£

Advances to director
£

Repayments by director
£

At 31 January 2022
£

Mr A W Watson

2020/21 advances

11,819

-

(11,819)

-

2021/22 advances

-

9,962

-

9,962

 

11,819

9,962

(11,819)

9,962

       

 

10

Controlling party

The ultimate controlling party is Mr A W Watson.