Company Registration No. 9540236 (England and Wales)
LIKELY LAD FILMS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
PAGES FOR FILING WITH REGISTRAR
LIKELY LAD FILMS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
LIKELY LAD FILMS LIMITED
ENTERTAINMENT ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LIKELY LAD FILMS LIMITED FOR THE YEAR ENDED 30 APRIL 2023
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Likely Lad Films Limited for the year ended 30 April 2023 which comprise, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
It is your duty to ensure that Likely Lad Films Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Likely Lad Films Limited. You consider that Likely Lad Films Limited is exempt from the statutory audit requirement for the year.
Theataccounts Limited
8 June 2023
Entertainment Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
LIKELY LAD FILMS LIMITED
BALANCE SHEET
AS AT 30 APRIL 2023
30 April 2023
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2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,989
3,011
Current assets
Debtors
4
647
1,347
Cash at bank and in hand
325,909
233,304
326,556
234,651
Creditors: amounts falling due within one year
5
(245,709)
(124,042)
Net current assets
80,847
110,609
Total assets less current liabilities
82,836
113,620
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
82,736
113,520
Total equity
82,836
113,620
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 April 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 Act with respect to accounting records and the preparation of financial statements.
The members have 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 8 June 2023
Mr T Marshall
Director
Company Registration No. 9540236
LIKELY LAD FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
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1
Accounting policies
Company information
Likely Lad Films Limited is a private company limited by shares incorporated in England and Wales. The registered office is Flat 23 Gaumont House, Marmont Road, London, SE15 5TL.
1.1
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.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of services is recognised by reference to the stage of completion and where the amount of revenue can be measured reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computer equipment
33% on cost
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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 liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
LIKELY LAD FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
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2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2022 - 1).
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2022
8,679
Additions
1,005
At 30 April 2023
9,684
Depreciation and impairment
At 1 May 2022
5,668
Depreciation charged in the year
2,027
At 30 April 2023
7,695
Carrying amount
At 30 April 2023
1,989
At 30 April 2022
3,011
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
57
Other debtors
590
1,347
647
1,347
5
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
31,338
22,774
Other taxation and social security
4,100
Other creditors
210,271
101,268
245,709
124,042
LIKELY LAD FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
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6
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary A of £1 each
100
100