Registered number
11400360
Morecambe Productions Limited
Filleted Accounts
30 June 2023
Morecambe Productions Limited
Registered number: 11400360
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,489,455 1,504,500
Current assets
Cash at bank and in hand 5,862 483
Creditors: amounts falling due within one year 4 (90,354) (80,208)
Net current liabilities (84,492) (79,725)
Total assets less current liabilities 1,404,963 1,424,775
Creditors: amounts falling due after more than one year 5 (1,371,528) (1,395,240)
Net assets 33,435 29,535
Capital and reserves
Called up share capital 1 1
Profit and loss account 33,434 29,534
Shareholder's funds 33,435 29,535
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
A. Luck
Director
Approved by the board on 14 November 2023
Morecambe Productions Limited
Notes to the Accounts
for the year ended 30 June 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 is measured at the fair value of the rents receivable in the year.
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 over its expected useful life, as follows:
Freehold buildings over 50 years
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 July 2022 1,566,216
At 30 June 2023 1,566,216
Depreciation
At 1 July 2022 61,716
Charge for the year 15,045
At 30 June 2023 76,761
Net book value
At 30 June 2023 1,489,455
At 30 June 2022 1,504,500
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 84,000 64,737
Trade creditors 1,910 1,293
Taxation and social security costs 4,444 8,195
Other creditors - 5,983
90,354 80,208
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 751,781 801,476
Other creditors 619,747 593,764
1,371,528 1,395,240
6 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years 639,930 681,020
Secured bank loans 835,781 866,213
The company's bankers hold a fixed charge over the freehold property of the company and a floating charge over all its undertakings.
7 Loans from directors
Description and conditions B/fwd Introduced Withdrawn C/fwd
£ £ £ £
A. Luck
Amount due to the director at the balance sheet date 493,764 25,983 - 519,747
493,764 25,983 - 519,747
8 Related party transactions
At the balance sheet date there was £100,000 (2022 £100,000) due to Alex Luck Limited, a company in which the director has an interest. No date has been fixed for its repayment and no interest has been charged thereon.
9 Controlling party
The company is controlled by the director and shareholder A. Luck.
10 Other information
Morecambe Productions Limited is a private company limited by shares and incorporated in England. Its registered office is:
2 Accommodation Road
London
NW11 8ED
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