Taboo Productions Limited
Unaudited Financial Statements
For the year ended 24 April 2023
Pages for Filing with Registrar
Company Registration No. 08968727 (England and Wales)
Taboo Productions Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 3
Taboo Productions Limited
Balance Sheet
As at 24 April 2023
Page 1
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
2
2
Cash at bank and in hand
26,985
27,689
26,987
27,691
Creditors: amounts falling due within one year
4
(32,609)
(30,586)
Net current liabilities
(5,622)
(2,895)
Capital and reserves
Called up share capital
5
2
2
Profit and loss reserves
(5,624)
(2,897)
Total equity
(5,622)
(2,895)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 24 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 23 April 2024 and are signed on its behalf by:
R Nicholas
Director
Company Registration No. 08968727
Taboo Productions Limited
Notes to the Financial Statements
For the year ended 24 April 2023
Page 2
1
Accounting policies
Company information
Taboo Productions Limited is a private company limited by shares incorporated in England and Wales. The registered office is Scott Free Films, 42-44 BEAK STREET, LONDON, United Kingdom, W1F 9RH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised by reference to the stage of completion of the service transaction at the end of the reporting period provided and the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses are recoverable.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The company only has basic financial instruments measured at amortised cost with no financial
instruments classified as other or basic instruments measured at fair value.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.7
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
Taboo Productions Limited
Notes to the Financial Statements (Continued)
For the year ended 24 April 2023
Page 3
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
4
4
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
2
2
4
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
7,861
4,849
Taxation and social security
989
Other creditors
19,248
19,248
Accruals and deferred income
5,500
5,500
32,609
30,586
5
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
2 shares of £1 each
2
2
2
2
6
Related party transactions
Included in other creditors is a balance of £7,861 (2022: £4,849) due to Scott Free films Limited, a company with directors in common.
7
Parent company
There is no ultimate controlling party.