Company registration number 02657044 (England and Wales)
MCSHANE PRODUCTIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
MCSHANE PRODUCTIONS LIMITED
COMPANY INFORMATION
Directors
G Humble McShane
I McShane
MA Coward
James Midgley
Secretary
G Humble McShane
Company number
02657044
Registered office
c/o Two Matts LLP
151 Wardour Street
London
W1F 8WE
Accountants
Two Matts LLP
151 Wardour Street
London
W1F 8WE
MCSHANE PRODUCTIONS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
MCSHANE PRODUCTIONS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
4
1
1
Current assets
Debtors
5
2,140
11,801
Cash at bank and in hand
964
962
3,104
12,763
Creditors: amounts falling due within one year
6
(13,524)
(4,951)
Net current (liabilities)/assets
(10,420)
7,812
Net (liabilities)/assets
(10,419)
7,813
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
(11,419)
6,813
Total equity
(10,419)
7,813

The directors of the company have elected not to include a copy of the profit and loss account 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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 by the board of directors and authorised for issue on 27 November 2023 and are signed on its behalf by:
MA Coward
Director
Company registration number 02657044 (England and Wales)
MCSHANE PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information

McShane Productions Limited is a private company limited by shares incorporated in England and Wales. The registered office is c/o Two Matts LLP, 151 Wardour Street, London, W1F 8WE.

1.1
Accounting convention

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 

1.2
Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the

Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

 

Revenue from a contract to provide services is recognised in the period in which the services are

provided in accordance with the stage of completion of the contract when all of the following

conditions are satisfied:

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:

Computers
33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Fixed asset investments

Investments in unlisted Company shares, whose market value can be reliably determined, are

remeasured to market value at each balance sheet date. Gains and losses on remeasurement are

recognised in the Statement of income and retained earnings for the period. Where market value

cannot be reliably determined, such investments are stated at historic cost less impairment.

1.5
Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that

mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

MCSHANE PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

 

Financial assets that are measured at cost and amortised cost are assessed at the end of each

reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings.

 

1.7
Employee benefits

There were no employee benefits in the period.

2
Employees
2023
2022
Number
Number
Total
-
0
-
0
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 and 31 March 2023
2,349
Depreciation and impairment
At 1 April 2022 and 31 March 2023
2,349
Carrying amount
At 31 March 2023
-
0
At 31 March 2022
-
0
MCSHANE PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
4
Fixed asset investments
2023
2022
£
£
Other investments other than loans
1
1
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
53
-
0
Other debtors
2,087
11,801
2,140
11,801
6
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
-
0
1
Other creditors
13,524
4,950
13,524
4,951
7
Directors' transactions

As at the balance sheet date, included within other creditors was an amount of £8,574 (2022: DR £10,739) owing to the directors of the company, Mr I D McShane and Mrs G McShane.

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