Dominic Tolfts Production Design Limited 07528841 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is the provision of production design services. Digita Accounts Production Advanced 6.30.9574.0 true true 07528841 2022-03-01 2023-02-28 07528841 2023-02-28 07528841 core:CurrentFinancialInstruments 2023-02-28 07528841 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 07528841 core:FurnitureFittingsToolsEquipment 2023-02-28 07528841 bus:SmallEntities 2022-03-01 2023-02-28 07528841 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 07528841 bus:FullAccounts 2022-03-01 2023-02-28 07528841 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 07528841 bus:RegisteredOffice 2022-03-01 2023-02-28 07528841 bus:Director2 2022-03-01 2023-02-28 07528841 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 07528841 core:FurnitureFittingsToolsEquipment 2022-03-01 2023-02-28 07528841 core:OfficeEquipment 2022-03-01 2023-02-28 07528841 countries:EnglandWales 2022-03-01 2023-02-28 07528841 2022-02-28 07528841 core:FurnitureFittingsToolsEquipment 2022-02-28 07528841 2021-03-01 2022-02-28 07528841 2022-02-28 07528841 core:CurrentFinancialInstruments 2022-02-28 07528841 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 07528841 core:FurnitureFittingsToolsEquipment 2022-02-28 iso4217:GBP xbrli:pure

Registration number: 07528841

Dominic Tolfts Production Design Limited

Unaudited Financial Statements

for the Year Ended 28 February 2023

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Dominic Tolfts Production Design Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Dominic Tolfts Production Design Limited

Company Information

Director

D R Tolfts

Registered office

Mayfield Blind Lane
Barton St. David
Somerset
TA11 6BW

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Dominic Tolfts Production Design Limited

Statement of Financial Position as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

3,765

2,631

Current assets

 

Debtors

5

117,365

62,596

Cash at bank and in hand

 

47,710

95,173

 

165,075

157,769

Creditors: Amounts falling due within one year

6

(79,021)

(85,243)

Net current assets

 

86,054

72,526

Total assets less current liabilities

 

89,819

75,157

Provisions for liabilities

(941)

(359)

Net assets

 

88,878

74,798

Capital and reserves

 

Called up share capital

100

100

Retained earnings

88,778

74,698

Shareholders' funds

 

88,878

74,798

For the financial year ending 28 February 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 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.

 

Dominic Tolfts Production Design Limited

Statement of Financial Position as at 28 February 2023

Approved and authorised by the director on 13 November 2023
 

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

D R Tolfts

Director

Company registration number: 07528841

 

Dominic Tolfts Production Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 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:
Mayfield Blind Lane
Barton St. David
Somerset
TA11 6BW

The principal activity of the company is that of the provision of production design services.

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.

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.

Going concern

The company made a profit for the year ended 28 February 2023 and had net assets of £88,878 at that date including cash at bank of £47,710.

The company's customers in the film and TV industry have continued to commission work, productions operate as normal and the company's services remain in demand.

On the basis of the above, and after making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the director 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 production design services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue based on the contractual completion of contracted design services.

 

Dominic Tolfts Production Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Government grants

Government grants are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met, usually on submission of a valid claim for payment.

Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

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

Furniture, fittings and equipment

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.

 

Dominic Tolfts Production Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 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.

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 3 (2022 - 3).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2022

16,938

16,938

Additions

2,774

2,774

Disposals

(778)

(778)

At 28 February 2023

18,934

18,934

Depreciation

At 1 March 2022

14,307

14,307

Charge for the year

1,640

1,640

Eliminated on disposal

(778)

(778)

At 28 February 2023

15,169

15,169

Carrying amount

At 28 February 2023

3,765

3,765

At 28 February 2022

2,631

2,631

 

Dominic Tolfts Production Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

5

Debtors

2023
£

2022
£

Trade debtors

72,748

17,674

Other debtors

44,617

44,922

117,365

62,596

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Trade creditors

2,414

8,963

Taxation and social security

66,187

70,225

Accruals and deferred income

8,056

4,000

Other creditors

2,364

2,055

79,021

85,243

7

Transactions with Directors

At 28 February 2023 an amount of £11,087 (2022: £13,228) was due to the company from the director. During the year advances of £11,074 and repayments of £13,465 were made. Interest of £250 (2022: £156) was payable to the company at 2% per annum and there were no agreed terms.