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Registration number: 04647547

Satusfaction Post Production Limited

Unaudited Financial Statements

for the Year Ended 31 January 2023

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Satusfaction Post Production Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Satusfaction Post Production Limited

Company Information

Directors

S M Lawrence

L A A Lloyd

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Satusfaction Post Production Limited

Statement of Financial Position as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

4,476

6,591

Current assets

 

Debtors

5

52,393

36,107

Cash at bank and in hand

 

234,546

218,151

 

286,939

254,258

Creditors: Amounts falling due within one year

6

(125,480)

(109,195)

Net current assets

 

161,459

145,063

Total assets less current liabilities

 

165,935

151,654

Provisions for liabilities

(558)

(1,651)

Net assets

 

165,377

150,003

Capital and reserves

 

Called up share capital

100

100

Retained earnings

165,277

149,903

Shareholders' funds

 

165,377

150,003

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.

Directors' 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 directors acknowledge their 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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 Statement of Income and Retained Earnings has been taken.

 

Satusfaction Post Production Limited

Statement of Financial Position as at 31 January 2023

Approved and authorised by the Board on 24 October 2023 and signed on its behalf by:
 

.........................................

S M Lawrence

Director

.........................................

L A A Lloyd

Director

Company registration number: 04647547

 

Satusfaction Post Production Limited

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 and Wales.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of the promotion and introduction of specialists to the media industry.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Going concern

The company made a profit for the year ended 31 January 2023 and had net assets at that date of £165,377 including cash at bank of £234,546.

On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the company had adequate resource to continue in operational existence for the foreseeable future. Accordingly, the directors continues to adopt the going concern basis in preparing the financial statements.

Revenue recognition

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

The company recognises revenue when the media services are supplied to the principals.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge 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.

 

Satusfaction Post Production Limited

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

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 statement of financial position 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

Office Equipment

20% and 25% straight line

Fixtures and fittings

25% straight line

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.

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 as a finance cost in profit or loss in the period it arises.

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.

 

Satusfaction Post Production Limited

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

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company during the year, was 7 (2022 - 6).

4

Tangible assets

Fixtures and fittings
£

Office Equipment
£

Total
£

Cost or valuation

At 1 February 2022

3,871

24,359

28,230

Disposals

-

(149)

(149)

At 31 January 2023

3,871

24,210

28,081

Depreciation

At 1 February 2022

2,907

18,732

21,639

Charge for the year

267

1,848

2,115

Eliminated on disposal

-

(149)

(149)

At 31 January 2023

3,174

20,431

23,605

Carrying amount

At 31 January 2023

697

3,779

4,476

At 31 January 2022

964

5,627

6,591

5

Debtors

2023
£

2022
£

Trade debtors

22,930

15,608

Other debtors

29,463

20,499

52,393

36,107

Other debtors includes an amount of £9,600 (2022: £nil) recoverable in greater than one year.

 

Satusfaction Post Production Limited

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

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Trade creditors

4,461

14,608

Taxation and social security

105,967

84,518

Other creditors

15,052

10,069

125,480

109,195

7

Commitments and Guarantees

The total of future minimum lease payments not reflected in the statement of financial position amounts to £139,200 (2022: £nil).

8

Non adjusting events after the financial period

Subsequent to 31 January 2023 dividends amounting to £115,000 were declared and paid.