1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 5,348 2,413 7,761 1,337 2,561 3,898 3,863 4,011 xbrli:pure xbrli:shares iso4217:GBP 14262949 2023-04-01 2024-03-31 14262949 2024-03-31 14262949 2023-03-31 14262949 2022-07-28 2023-03-31 14262949 2023-03-31 14262949 2022-07-27 14262949 bus:Director1 2023-04-01 2024-03-31 14262949 core:WithinOneYear 2024-03-31 14262949 core:WithinOneYear 2023-03-31 14262949 core:ShareCapital 2024-03-31 14262949 core:ShareCapital 2023-03-31 14262949 core:RetainedEarningsAccumulatedLosses 2024-03-31 14262949 core:RetainedEarningsAccumulatedLosses 2023-03-31 14262949 bus:SmallEntities 2023-04-01 2024-03-31 14262949 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 14262949 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 14262949 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 14262949 bus:FullAccounts 2023-04-01 2024-03-31 14262949 core:ComputerEquipment 2023-04-01 2024-03-31 14262949 core:ComputerEquipment 2023-03-31 14262949 core:ComputerEquipment 2024-03-31
COMPANY REGISTRATION NUMBER: 14262949
R WILLIAMS PRODUCTIONS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 March 2024
R WILLIAMS PRODUCTIONS LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
£
£
Fixed Assets
Tangible assets
5
3,863
4,011
Current Assets
Debtors
6
13,113
15,942
Cash at bank and in hand
2,960
1,299
---------
---------
16,073
17,241
Creditors: amounts falling due within one year
7
7,653
10,032
---------
---------
Net Current Assets
8,420
7,209
---------
---------
Total Assets Less Current Liabilities
12,283
11,220
Provisions
734
1,003
---------
---------
Net Assets
11,549
10,217
---------
---------
R WILLIAMS PRODUCTIONS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
2024
2023
Note
£
£
£
£
Capital and Reserves
Called up share capital
1
1
Profit and loss account
11,548
10,216
---------
---------
Shareholders Funds
11,549
10,217
---------
---------
These 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 statement of comprehensive income has not been delivered.
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.
Director's responsibilities:
- 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 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 29 May 2024 , and are signed on behalf of the board by:
R E Williams
Director
Company registration number: 14262949
R WILLIAMS PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Tower House, Lucy Tower Street, Lincoln, LN1 1XW, England.
2. Statement of Compliance
These 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 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 financial statements are prepared in sterling, which is the functional currency of the entity.
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.
Income Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
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:
Computer equipment
-
33% 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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined Contribution Plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible Assets
Equipment
£
Cost
At 1 April 2023
5,348
Additions
2,413
--------
At 31 March 2024
7,761
--------
Depreciation
At 1 April 2023
1,337
Charge for the year
2,561
--------
At 31 March 2024
3,898
--------
Carrying amount
At 31 March 2024
3,863
--------
At 31 March 2023
4,011
--------
6. Debtors
2024
2023
£
£
Trade debtors
6,311
6,705
Other debtors
6,802
9,237
---------
---------
13,113
15,942
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Social security and other taxes
6,863
9,237
Other creditors
790
795
--------
---------
7,653
10,032
--------
---------
8. Director's Advances, Credits and Guarantees
Included in debtors is £6,341 owed by the director. This is interest free and repayable on demand.