Johnny Green Productions Ltd
Unaudited Financial Statements
For the year ended 31 March 2024
Pages for Filing with Registrar
Company Registration No. 07175719 (England and Wales)
Johnny Green Productions Ltd
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 6
Johnny Green Productions Ltd
Balance Sheet
As at 31 March 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
4
232,383
877,432
Current assets
Debtors
5
821
18,056
Cash at bank and in hand
1,245,749
1,254,735
1,246,570
1,272,791
Creditors: amounts falling due within one year
6
(493,579)
(1,223,490)
Net current assets
752,991
49,301
Net assets
985,374
926,733
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
985,373
926,732
Total equity
985,374
926,733

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 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 and signed by the director and authorised for issue on 30 July 2024
J Green
Director
Company Registration No. 07175719
Johnny Green Productions Ltd
Notes to the Financial Statements
For the year ended 31 March 2024
Page 2
1
Accounting policies
Company information

Johnny Green Productions Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor, 9 Appold Street, London, EC2A 2AP.

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
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

Johnny Green Productions Ltd
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
1
Accounting policies
(Continued)
Page 3
1.5
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.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
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.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Johnny Green Productions Ltd
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
1
Accounting policies
(Continued)
Page 4
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.

1.9
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.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
9,291
Disposals
(9,291)
At 31 March 2024
-
0
Depreciation and impairment
At 1 April 2023
9,291
Eliminated in respect of disposals
(9,291)
At 31 March 2024
-
0
Carrying amount
At 31 March 2024
-
0
At 31 March 2023
-
0
Johnny Green Productions Ltd
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
Page 5
4
Fixed asset investments
2024
2023
£
£
Other investments other than loans
232,383
877,432
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 April 2023
877,432
Valuation changes
(34,886)
Disposals
(610,163)
At 31 March 2024
232,383
Carrying amount
At 31 March 2024
232,383
At 31 March 2023
877,432
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
-
0
6,880
Other debtors
821
11,176
821
18,056
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
4,800
4,800
Corporation tax
11,761
-
0
Other creditors
473,018
1,208,355
Accruals and deferred income
4,000
10,335
493,579
1,223,490
Johnny Green Productions Ltd
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
Page 6
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
of £1 each
1
1
1
1
8
Related party transactions

At the year end, other creditors includes a balance of £8,240 (2023: £185,908 ) due to the director of the company.

 

At the year end, other creditors includes a balance of £464,778 (2023: £1,002,447) due to Ventcrest Limited, a company related by virtue of common shareholding.

9
Parent company

J Green is the ultimate controlling party by virtue of his majority shareholding.

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