Company registration number 05368556 (England and Wales)
Dragonshead Productions Limited
Unaudited
Financial Statements
for the year ended 31 March 2023
PAGES FOR FILING WITH REGISTRAR
Dragonshead Productions Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
Dragonshead Productions Limited
Statement of financial position
as at 31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
6
1,995
1,474
Current assets
Debtors
7
726
3,110
Cash at bank and in hand
24,087
126
24,813
3,236
Creditors: amounts falling due within one year
8
(11,919)
(14,726)
Net current assets/(liabilities)
12,894
(11,490)
Total assets less current liabilities
14,889
(10,016)
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
14,789
(10,116)
Total equity
14,889
(10,016)

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 10 October 2023
J Freeston
Director
Company Registration No. 05368556
Dragonshead Productions Limited
Notes to the financial statements
for the year ended 31 March 2023
- 2 -
1
Accounting policies
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The financial statements are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover represents the fair value of the consideration receivable for goods provided in the normal course of business, and is shown net of VAT. Turnover is recognised upon the performance of service obligations where a right to consideration is due.

Tangible fixed assets

Tangible fixed assets are initially measured at cost less depreciation.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% reducing balance
Fixtures, fittings & equipment
25% reducing balance
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax is recognised on all timing differences between the carrying amount of of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is then settled or the asset realised, based on the tax rates that have been enacted or substantively enacted by the end of the reporting period.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Dragonshead Productions Limited
Notes to the financial statements (continued)
for the year ended 31 March 2023
- 3 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was 1 (2022 - 1).

2023
2022
Number
Number
Total
1
1
4
Taxation
2023
2022
£
£
Current tax
UK corporation tax on profits for the current period
3,046
-
0
Deferred tax
Origination and reversal of timing differences
-
0
(374)
Total tax charge/(credit)
3,046
(374)
5
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2022 and 31 March 2023
45,000
Amortisation and impairment
At 1 April 2022 and 31 March 2023
45,000
Carrying amount
At 31 March 2023
-
0
At 31 March 2022
-
0
Dragonshead Productions Limited
Notes to the financial statements (continued)
for the year ended 31 March 2023
- 4 -
6
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Total
£
£
£
Cost
At 1 April 2022
20,209
6,010
26,219
Additions
1,095
-
0
1,095
At 31 March 2023
21,304
6,010
27,314
Depreciation and impairment
At 1 April 2022
19,439
5,306
24,745
Depreciation charged in the year
398
176
574
At 31 March 2023
19,837
5,482
25,319
Carrying amount
At 31 March 2023
1,467
528
1,995
At 31 March 2022
770
704
1,474
7
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
726
3,110
8
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,632
2,078
Corporation tax
3,046
-
0
Other taxation and social security
1,293
-
0
Director's loan account
4,448
11,148
Accruals and deferred income
1,500
1,500
11,919
14,726
9
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
Dragonshead Productions Limited
Notes to the financial statements (continued)
for the year ended 31 March 2023
- 5 -
10
Company information

Dragonshead Productions Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2 Surprise Villas, Sheffield Road, Hathersage, Hope Valley, S32 1DA.

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