Registered number
09445533
Fab Productions Management Limited
Filleted Accounts
29 February 2024
Fab Productions Management Limited
Registered number: 09445533
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 1,000 2,000
Tangible assets 4 3,104 466
4,104 2,466
Current assets
Debtors 5 1,500 1,500
Cash at bank and in hand 45,595 14,488
47,095 15,988
Creditors: amounts falling due within one year 6 (14,138) (10,614)
#NAME? 32,957 5,374
#NAME? 37,061 7,840
Capital and reserves
Called up share capital 2 2
Profit and loss account 37,059 7,838
Shareholders' funds 37,061 7,840
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.
Maria Blasbery
Director
Approved by the board on 3 September 2024
Fab Productions Management 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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Motor vehicles over 4 years
Musical instruments over 5 years
Fixtures, fittings over 5 years
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 March 2023 10,000
At 29 February 2024 10,000
Amortisation
At 1 March 2023 8,000
Provided during the year 1,000
At 29 February 2024 9,000
Net book value
At 29 February 2024 1,000
At 28 February 2023 2,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 March 2023 6,450 7,557 18,499 32,506
Additions 799 2,949 - 3,748
At 29 February 2024 7,249 10,506 18,499 36,254
Depreciation
At 1 March 2023 6,074 7,467 18,499 32,040
Charge for the year 446 664 - 1,110
At 29 February 2024 6,520 8,131 18,499 33,150
Net book value
At 29 February 2024 729 2,375 - 3,104
At 28 February 2023 376 90 - 466
5 Debtors 2024 2023
£ £
Trade debtors 1,500 1,500
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 78 3,979
Taxation and social security costs 12,338 5,760
Other creditors 1,722 875
14,138 10,614
7 Other information
Fab Productions Management Limited is a private company limited by shares and incorporated in England. Its registered office is:
255 Poulton Road
Wallasey
Merseyside
CH44 4BT
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