Registered number
07596302
Burning Bright Productions Limited
Filleted Accounts
31 March 2023
Burning Bright Productions Limited
Registered number: 07596302
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,943 2,263
Current assets
Debtors 4 273,742 72,794
Cash at bank and in hand 1,449,301 1,477,593
1,723,043 1,550,387
Creditors: amounts falling due within one year 5 (904,138) (533,096)
Net current assets 818,905 1,017,291
Total assets less current liabilities 821,848 1,019,554
Provisions for liabilities (559) -
Net assets 821,289 1,019,554
Capital and reserves
Called up share capital 178 200
Share premium 447,972 799,950
Profit and loss account 373,139 219,404
Shareholders' funds 821,289 1,019,554
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Clive Tulloh
Director
Approved by the board on 28 June 2023
Burning Bright Productions Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover and attributable profit are recognised in accordance with the company's right to receive revenue based on the contracted position, mainly on the delivery of completed programmes. Provision is made for overspends/losses as soon as they are identified. Revenues on programmes distributed to third parties and other ancillary revenues are recognised once the company has been notified of such sums due to it.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 33% straight line
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 8 5
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 7,717
Additions 15,637
Disposals (11,912)
At 31 March 2023 11,442
Depreciation
At 1 April 2022 5,454
Charge for the year 14,957
On disposals (11,912)
At 31 March 2023 8,499
Net book value
At 31 March 2023 2,943
At 31 March 2022 2,263
4 Debtors 2023 2022
£ £
Trade debtors 117,238 36,000
Other debtors 156,504 36,794
273,742 72,794
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 44,322 3,647
Corporation tax 8,947 -
Other taxes and social security costs 357,613 250,545
Other creditors 493,256 278,904
904,138 533,096
6 Related party transactions
PBJ Management Ltd (a 25% shareholder with board representation) charged for services of Peter Bennett-Jones amounting to £15,000 (Prev Yr: £15,000) and for the talent it manages an amount of £158,500 (Prev Yr: £95,500)
7 Other information
Burning Bright Productions Limited is a private company limited by shares and incorporated in England. Its registered office is:
22 Rathbone Street
London
W1T 1LG
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