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COMPANY REGISTRATION NUMBER: 11218195
Eventuate Productions Ltd
Unaudited Financial Statements
For the year ended
28 February 2023
Eventuate Productions Ltd
Financial Statements
Year ended 28 February 2023
Contents
Page
Directors' report
1
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements
2
Statement of income and retained earnings
3
Statement of financial position
4
Notes to the financial statements
6
Eventuate Productions Ltd
Directors' Report
Year ended 28 February 2023
The directors present their report and the unaudited financial statements of the company for the year ended 28 February 2023 .
Directors
The directors who served the company during the year were as follows:
Mr M Tooth
Ms J Rohrer
Ms J Rohrer resigned as a director of the company on 20 March 2022 and was re-appointed as a director of the company on 14 April 2023.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 27 November 2023 and signed on behalf of the board by:
Mr M Tooth
Director
Registered office:
6 Northcote Road
Bristol
England
BS5 8EW
Eventuate Productions Ltd
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Eventuate Productions Ltd
Year ended 28 February 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Eventuate Productions Ltd for the year ended 28 February 2023, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Eventuate Productions Ltd, as a body, in accordance with the terms of our engagement letter dated 5 July 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Eventuate Productions Ltd and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Eventuate Productions Ltd and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Eventuate Productions Ltd 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 loss of Eventuate Productions Ltd. You consider that Eventuate Productions Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Eventuate Productions Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
VOGAN ACCOUNTANCY LIMITED Chartered accountants
2 Chancery Lane Wakefield West Yorkshire WF1 2SS
27 November 2023
Eventuate Productions Ltd
Statement of Income and Retained Earnings
Year ended 28 February 2023
2023
2022
Note
£
£
Turnover
4,827
38,340
Cost of sales
2,093
1,683
-------
--------
Gross profit
2,734
36,657
Administrative expenses
9,128
24,150
Other operating income
5,998
-------
--------
Operating (loss)/profit
( 6,394)
18,505
Other interest receivable and similar income
5
-------
--------
(Loss)/profit before taxation
5
( 6,389)
18,505
Tax on (loss)/profit
( 1,191)
3,501
-------
--------
(Loss)/profit for the financial year and total comprehensive income
( 5,198)
15,004
-------
--------
Dividends paid and payable
( 14,000)
Retained earnings at the start of the year
7,052
6,048
-------
--------
Retained earnings at the end of the year
1,854
7,052
-------
--------
All the activities of the company are from continuing operations.
Eventuate Productions Ltd
Statement of Financial Position
28 February 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
6
4,771
5,828
Current assets
Debtors
7
911
1,073
Cash at bank and in hand
257
7,547
-------
-------
1,168
8,620
Creditors: amounts falling due within one year
8
4,083
6,288
-------
-------
Net current (liabilities)/assets
( 2,915)
2,332
-------
-------
Total assets less current liabilities
1,856
8,160
Provisions
1,106
-------
-------
Net assets
1,856
7,054
-------
-------
Capital and reserves
Called up share capital
2
2
Profit and loss account
1,854
7,052
-------
-------
Shareholders funds
1,856
7,054
-------
-------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the 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.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Eventuate Productions Ltd
Statement of Financial Position (continued)
28 February 2023
These financial statements were approved by the board of directors and authorised for issue on 27 November 2023 , and are signed on behalf of the board by:
Mr M Tooth
Director
Company registration number: 11218195
Eventuate Productions Ltd
Notes to the Financial Statements
Year ended 28 February 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Northcote Road, Bristol, BS5 8EW, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and in sterling, which is the functional currency of the entity. Monetary amounts included in the financial statements are rounded to the nearest £.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements under FRS 102 requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts. These estimates and judgements are continually evaluated and are based on historical experience and other factors including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.
Revenue recognition
Turnover comprises the sales value net of attributable VAT of work done in the period under contracts to supply goods and services to third parties.
Income tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% straight line
Motor vehicles
-
15% reducing balance
Equipment
-
15% reducing balance
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Profit before taxation
Profit before taxation is stated after charging:
2023
2022
£
£
Depreciation of tangible assets
1,057
1,329
-------
-------
6. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 March 2022 and 28 February 2023
1,500
4,279
4,032
9,811
-------
-------
-------
-------
Depreciation
At 1 March 2022
1,286
1,246
1,451
3,983
Charge for the year
214
455
388
1,057
-------
-------
-------
-------
At 28 February 2023
1,500
1,701
1,839
5,040
-------
-------
-------
-------
Carrying amount
At 28 February 2023
2,578
2,193
4,771
-------
-------
-------
-------
At 28 February 2022
214
3,033
2,581
5,828
-------
-------
-------
-------
7. Debtors
2023
2022
£
£
Other debtors
911
1,073
----
-------
Included in "Other debtors" is an amount of £85 which the directors do not consider will be recovered within one year of the balance sheet date.
8. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
3,648
Other creditors
4,083
2,640
-------
-------
4,083
6,288
-------
-------
9. Directors' advances, credits and guarantees
There are no transactions with the directors that require disclosure under section 413 of the Companies Act 2006.
10. Related party transactions
Included in 'Other creditors' (note 8) is a balance of £4,083 (2022: £2,640) due to the directors. The balance is unsecured, interest free and repayable on demand.