Registered number
04354796
Norwell Lapley Productions Limited
Filleted Accounts
30 September 2023
Norwell Lapley Productions Limited
Registered number: 04354796
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 2 124,464 110,442
Current assets
Work in progress 148,518 81,062
Debtors 3 169,175 29,599
Cash at bank and in hand 447,908 745,502
765,601 856,163
Creditors: amounts falling due within one year 4 (217,205) (437,622)
Net current assets 548,396 418,541
Total assets less current liabilities 672,860 528,983
Creditors: amounts falling due after more than one year 5 (19,803) (31,054)
Provisions for liabilities (22,998) -
Net assets 630,059 497,929
Capital and reserves
Called up share capital 105 105
Profit and loss account 629,954 497,824
Shareholders' funds 630,059 497,929
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.
C B Davis
Director
Approved by the board on 31 March 2024
Norwell Lapley Productions Limited
Notes to the Accounts
for the year ended 30 September 2023
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 consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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 between 5 to 20 years
Motor Vehicles over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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.
1 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 4
2 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2022 129,038 - 129,038
Additions 9,314 14,890 24,204
At 30 September 2023 138,352 14,890 153,242
Depreciation
At 1 October 2022 18,596 - 18,596
Charge for the year 7,204 2,978 10,182
At 30 September 2023 25,800 2,978 28,778
Net book value
At 30 September 2023 112,552 11,912 124,464
At 30 September 2022 110,442 - 110,442
3 Debtors 2023 2022
£ £
Trade debtors 40,400 -
Other debtors 128,775 29,599
169,175 29,599
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,200 10,200
Trade creditors 61,904 66,256
Taxation and social security costs 11,193 -
Other creditors 133,908 361,166
217,205 437,622
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 19,803 31,054
6 Related party transactions
At the balance sheet date the company owed £108,058 (2022: £356,221) to CDM (Entertainment) Limited.
7 Controlling party
The company is under the control of Mr C B Davis.
8 Other information
Norwell Lapley Productions Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 4 Brindley Close, Tollgate Industrial Estate, Stafford, ST16 3SU.
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