Registered number
08397819
Forsyth Productions Limited
Unaudited Filleted Accounts
29 February 2024
Forsyth Productions Limited
Registered number: 08397819
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 12,965 14,557
Current assets
Debtors 4 10,847 2,732
Cash at bank and in hand 891,372 1,030,141
902,219 1,032,873
Creditors: amounts falling due within one year 5 (189,347) (330,171)
Net current assets 712,872 702,702
Net assets 725,837 717,259
Capital and reserves
Called up share capital 100 100
Profit and loss account 725,737 717,159
Shareholders' funds 725,837 717,259
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs R. Forsyth
Director
Approved by the board on 16 August 2024
Forsyth Productions Limited
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 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.
Going concern
The directors have assessed the company's ability to continue as a going concern and have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. In doing this, they have considered the level of reserves held, the results for the period, expectations of future trading as a result of trading relationships with key customers. On the basis of this information the directors are satisfied that the company will continue as a going concern and so the financial statements have been prepared on this basis.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 March 2023 16,986 3,578 20,564
Additions - 2,796 2,796
Disposals - (2,438) (2,438)
At 29 February 2024 16,986 3,936 20,922
Depreciation
At 1 March 2023 3,397 2,610 6,007
Charge for the year 3,397 791 4,188
On disposals - (2,238) (2,238)
At 29 February 2024 6,794 1,163 7,957
Net book value
At 29 February 2024 10,192 2,773 12,965
At 28 February 2023 13,589 968 14,557
4 Debtors 2024 2023
£ £
Trade debtors 54 1,443
Directors' loan account 7,793 -
Other debtors 3,000 1,289
10,847 2,732
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 375
Directors' loan account - 915
Taxation and social security costs 187,730 325,860
Other creditors 1,617 3,021
189,347 330,171
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mrs R. Forsyth
Unsecured, interest free, repayable on demand - 3,896 - 3,896
Mr N. Forsyth
Unsecured, interest free, repayable on demand - 3,897 - 3,897
- 7,793 - 7,793
7 Other information
Forsyth Productions Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit T13 Tideway Yard
125 Mortlake High Street
London
SW14 8SN
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