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Registration number: 03862505

E C P Video Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

E C P Video Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

E C P Video Limited

(Registration number: 03862505)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

52,286

55,261

Current assets

 

Stocks

6

6,500

22,430

Debtors

7

31,929

69,962

Cash at bank and in hand

 

206,013

157,443

 

244,442

249,835

Creditors: Amounts falling due within one year

8

(89,237)

(80,732)

Net current assets

 

155,205

169,103

Total assets less current liabilities

 

207,491

224,364

Provisions for liabilities

(13,071)

(13,815)

Net assets

 

194,420

210,549

Capital and reserves

 

Called up share capital

2,500

2,500

Retained earnings

191,920

208,049

Shareholders' funds

 

194,420

210,549

 

E C P Video Limited

(Registration number: 03862505)
Balance Sheet as at 31 October 2023

For the financial year ending 31 October 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 April 2024 and signed on its behalf by:
 

.........................................
ME Paine
Company secretary and director

 

E C P Video Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover represents amounts chargeable, net of value added tax, in respect of the provision of video production specialist services to customers.

Government grants

Government grants are payments under the Coronavirus job retention scheme and are accounted for when receivable.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

E C P Video Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% of net book value

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

E C P Video Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

3

Taxation

2023

2022

£

£

Corporation tax

47,716

51,567

Deferred tax

(744)

4,586

46,972

56,153

4

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

5

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 November 2022

116,424

116,424

Additions

15,225

15,225

Disposals

(21,935)

(21,935)

At 31 October 2023

109,714

109,714

Depreciation

At 1 November 2022

61,163

61,163

Charge for the year

15,726

15,726

Eliminated on disposal

(19,461)

(19,461)

At 31 October 2023

57,428

57,428

Carrying amount

At 31 October 2023

52,286

52,286

At 31 October 2022

55,261

55,261

6

Stocks

2023
£

2022
£

Work in progress

6,500

22,430

 

E C P Video Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

7

Debtors

Current

2023
£

2022
£

Trade debtors

29,403

68,150

Prepayments

2,509

1,652

Other debtors

17

160

 

31,929

69,962

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

190

1,064

Taxation and social security

77,647

65,683

Other creditors

11,400

13,985

89,237

80,732

 

E C P Video Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

9

Related party transactions

Other transactions with directors

During the year, the directors had loans with the company.
At the balance sheet date the amount due from the company to M & T Paine was £86 (2022: £720). The amount due to G Paine £2,363 (2022: £5,442) and J J Paine £1,458 (2022: £1,458).