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Registered number: 06313711














NEIL LAIDLAW PRODUCTIONS LTD

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

 
NEIL LAIDLAW PRODUCTIONS LTD
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 9


 
NEIL LAIDLAW PRODUCTIONS LTD
REGISTERED NUMBER:06313711

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,920
5,841

  
4,920
5,841

Current assets
  

Debtors: amounts falling due within one year
 5 
138,712
191,179

Cash at bank and in hand
 6 
2,710
6,940

  
141,422
198,119

Creditors: amounts falling due within one year
 7 
(119,251)
(137,642)

Net current assets
  
 
 
22,171
 
 
60,477

Total assets less current liabilities
  
27,091
66,318

Creditors: amounts falling due after more than one year
 8 
(25,674)
(45,389)

Provisions for liabilities
  

Deferred tax
 10 
(1,178)
(1,110)

  
 
 
(1,178)
 
 
(1,110)

Net assets
  
239
19,819


Capital and reserves
  

Called up share capital 
 11 
1
1

Profit and loss account
  
238
19,818

  
239
19,819


1

 
NEIL LAIDLAW PRODUCTIONS LTD
REGISTERED NUMBER:06313711
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




N M Laidlaw
Director

Date: 30 July 2024

The notes on pages 3 to 9 form part of these financial statements.

2

 
NEIL LAIDLAW PRODUCTIONS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

Neil Laidlaw Productions Ltd is a private company, limited by shares, registered in England and Wales, registration number 06313711. The registered office address is 187 Drury Lane, London, WC2B 5QD.
The principal activity of the company is providing consultancy and management of theatrical production services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The company's functional and presentational currency is pound sterling.

The following principal accounting policies have been applied:

  
2.2

Turnover

Turnover comprises solely of fees for services and royalties and other income arising from the company's participation in theatrical productions.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures & fittings
-
33%
Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

3

 
NEIL LAIDLAW PRODUCTIONS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.6

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors.

 
2.7

Creditors

Short term creditors are measured at the transaction price.

 
2.8

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the profit and loss account in the same period as the related expenditure. Grants received in respect of Covid Job Retention Scheme, interest on Bounce Back Loan and grants from Art Council are included in other operating income.

 
2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.10

 Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

  
2.11

 Pensions

Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in profit and loss account when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.12

 Interest income

Interest income is recognised in the statement of income and retained earnings in the period in which the interest is earned.

 
2.13

 Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

4

 
NEIL LAIDLAW PRODUCTIONS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.14

 Taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including the director, during the year was 4 (2022 - 6).

5

 
NEIL LAIDLAW PRODUCTIONS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

4.


Tangible fixed assets





Fixtures & fittings
Computer equipment
Total

£
£
£



Cost


At 1 August 2022
6,786
-
6,786


Additions
-
1,533
1,533



At 31 July 2023

6,786
1,533
8,319



Depreciation


At 1 August 2022
945
-
945


Charge for the year on owned assets
2,262
192
2,454



At 31 July 2023

3,207
192
3,399



Net book value



At 31 July 2023
3,579
1,341
4,920



At 31 July 2022
5,841
-
5,841


5.


Debtors

2023
2022
£
£


Trade debtors
3,600
10,816

Other debtors
106,953
174,124

Prepayments and accrued income
800
-

Tax recoverable
27,359
6,239

138,712
191,179



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
2,710
6,940


6

 
NEIL LAIDLAW PRODUCTIONS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
11,111
11,111

Other loans
12,819
16,351

Trade creditors
3,753
2,632

Corporation tax
41,267
16,723

Other taxation and social security
9,529
29,891

Other creditors
31,027
56,934

Accruals and deferred income
9,745
4,000

119,251
137,642


The bank loan of £11,111 (2022 - £11,111) included in creditors due within one year is a COVID Bounce Back Loan, 100% guaranteed by the government.
The repayment of other loan of £12,819 (2022 - £16,351) has been guaranteed by the director.


8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
25,674
31,204

Other loans
-
14,185

25,674
45,389


The bank loan of £25,674 (2022 - £31,204) included in creditors due after more than one year is a COVID Bounce Back Loan, 100% guaranteed by the government.
The repayment of other loan of £Nil (2022 - £14,185) has been guaranteed by the director.

7

 
NEIL LAIDLAW PRODUCTIONS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
11,111
11,111

Other loans
12,819
16,351


23,930
27,462

Amounts falling due 1-2 years

Bank loans
11,111
11,111

Other loans
-
14,185


11,111
25,296

Amounts falling due 2-5 years

Bank loans
14,563
20,093


14,563
20,093


49,604
72,851



10.


Deferred taxation




2023
2022


£

£






At beginning of year
(1,110)
-


Charged to profit or loss
(68)
(1,110)



At end of year
(1,178)
(1,110)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
1,230
1,110

Short term timing differences
52
-

(1,178)
(1,110)

8

 
NEIL LAIDLAW PRODUCTIONS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1
1
1



12.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £1,080 (2022 - £2,716). Contributions totalling £210 (2022 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.


13.


Related party transactions

During the year, the director of the company received dividends of £45,000 (2022 - £40,000).
At the balance sheet date other debtors include £81,177 (2022 - £77,943) due from the director of the company. The loan is repayable on demand and interest of £1,581 (2022 - £1,029) is charged at the official rate.
Included within other creditors at the year end is an aggregated amount due to companies under common control £23,374 (2022 - £53,840). The loan is interest free and payable on demand.
Included within other debtors at the year end is an amount due from company under common control £Nil (2022 - £7,500). The loan is interest free and payable on demand.

 
9