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Registered number: 07555868
Standby Productions Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
MAP ACCOUNTANTS LTD
16 Blackfriars Street
Manchester
M3 5BQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07555868
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 45,966 47,544
45,966 47,544
CURRENT ASSETS
Debtors 5 16,709 41,875
Cash at bank and in hand 49,811 43,407
66,520 85,282
Creditors: Amounts Falling Due Within One Year 6 (78,572 ) (68,902 )
NET CURRENT ASSETS (LIABILITIES) (12,052 ) 16,380
TOTAL ASSETS LESS CURRENT LIABILITIES 33,914 63,924
Creditors: Amounts Falling Due After More Than One Year 7 (41,271 ) (53,878 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (9,500 ) (9,033 )
NET (LIABILITIES)/ASSETS (16,857 ) 1,013
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (16,957 ) 913
SHAREHOLDERS' FUNDS (16,857) 1,013
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Peter Owen
Director
31st July 2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Standby Productions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07555868 . The registered office is Haven House 11 Highcrest Avenue, Gatley, Cheshire, SK8 4HD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Straight Line
Motor Vehicles 10% Straight Line
Fixtures & Fittings 25% Straight Line
Computer Equipment 25% Straight Line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.5. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 5)
6 5
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 7,678 46,998 2,950 37,250 94,876
Additions - - - 5,308 5,308
Disposals - - (435 ) (1,812 ) (2,247 )
As at 31 March 2024 7,678 46,998 2,515 40,746 97,937
Depreciation
As at 1 April 2023 7,593 1,958 2,756 35,025 47,332
Provided during the period 85 4,700 194 1,907 6,886
Disposals - - (435 ) (1,812 ) (2,247 )
As at 31 March 2024 7,678 6,658 2,515 35,120 51,971
Net Book Value
As at 31 March 2024 - 40,340 - 5,626 45,966
As at 1 April 2023 85 45,040 194 2,225 47,544
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 9,208 15,766
Prepayments and accrued income 4,977 3,785
Other debtors 2,524 870
Directors' loan accounts - 21,454
16,709 41,875
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 5,926 9,194
Trade creditors 10,366 4,106
Bank loans and overdrafts 10,648 10,648
Corporation tax 13,446 -
Other taxes and social security 2,691 1,726
VAT 11,309 14,268
Other creditors 2,332 1,249
Other creditors (1) - 275
Accruals and deferred income 19 4,322
Directors' loan accounts 21,835 23,114
78,572 68,902
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 29,512 32,171
Bank loans 11,759 21,707
41,271 53,878
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 5,926 9,194
Later than one year and not later than five years 29,512 32,171
35,438 41,365
35,438 41,365
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 8,121 8,121
Later than one year and not later than five years 6,260 14,381
14,381 22,502
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11. Related Party Transactions
Peter OwenShareholder and a Director of Standby Productions LtdAs at the Year End March 2024, Standby Production Ltd owes an amount of £21,835 to Peter Owen

Peter Owen

Shareholder and a Director of Standby Productions Ltd

As at the Year End March 2024, Standby Production Ltd owes an amount of £21,835 to Peter Owen

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