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STATEMENT OF CONSENT TO PREPARE ABRIDGED FINANCIAL STATEMENTS
All of the members of Skydrones Productions Ltd have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 30 November 2023 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER: 09864901
SKYDRONES PRODUCTIONS LTD
FILLETED UNAUDITED ABRIDGED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 November 2023
SKYDRONES PRODUCTIONS LTD
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY ABRIDGED FINANCIAL STATEMENTS OF SKYDRONES PRODUCTIONS LTD
YEAR ENDED 30 NOVEMBER 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of Skydrones Productions Ltd for the year ended 30 November 2023, which comprise the abridged statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
LANGARD LIFFORD HALL LIMITED Accountants and Registered Auditors
Lifford Hall Lifford Lane Kings Norton Birmingham B30 3JN
7 August 2024
SKYDRONES PRODUCTIONS LTD
ABRIDGED STATEMENT OF FINANCIAL POSITION
30 November 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
37,660
42,021
Current assets
Stocks
850
2,750
Debtors
1,022
2,075
Cash at bank and in hand
1,305
6,861
------------
------------
3,177
11,686
Creditors: amounts falling due within one year
28,829
30,964
------------
------------
Net current liabilities
25,652
19,278
------------
------------
Total assets less current liabilities
12,008
22,743
Creditors: amounts falling due after more than one year
4,168
6,586
------------
------------
Net assets
7,840
16,157
------------
------------
Capital and reserves
Called up share capital
1
1
Profit and loss account
7,839
16,156
------------
------------
Shareholders funds
7,840
16,157
------------
------------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
SKYDRONES PRODUCTIONS LTD
ABRIDGED STATEMENT OF FINANCIAL POSITION (continued)
30 November 2023
These abridged financial statements were approved by the board of directors and authorised for issue on 7 August 2024 , and are signed on behalf of the board by:
J Sales
Director
Company registration number: 09864901
SKYDRONES PRODUCTIONS LTD
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 2023
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lifford Hall, Lifford Lane, Kings Norton, Birmingham, B30 3JN, West Midlands.
2. Statement of Compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% reducing balance
Equipment
-
10% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible Assets
£
Cost
At 1 December 2022
65,036
Additions
2,378
------------
At 30 November 2023
67,414
------------
Depreciation
At 1 December 2022
23,015
Charge for the year
6,739
------------
At 30 November 2023
29,754
------------
Carrying amount
At 30 November 2023
37,660
------------
At 30 November 2022
42,021
------------
6. Director's Advances, Credits and Guarantees
Amounts owed to the Director at the balance sheet date are included in creditors and totalled £18,148 (2022: 21,297).