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Registered number: 07748508
PENGUIN PRODUCTIONS LIMITED
Unaudited Financial Statements
For The Year Ended 31 August 2024
Garveys Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07748508
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,183 2,616
3,183 2,616
CURRENT ASSETS
Stocks 5 1,500 1,400
Debtors 6 13,086 13,489
Cash at bank and in hand 75,581 57,739
90,167 72,628
Creditors: Amounts Falling Due Within One Year 7 (38,448 ) (38,005 )
NET CURRENT ASSETS (LIABILITIES) 51,719 34,623
TOTAL ASSETS LESS CURRENT LIABILITIES 54,902 37,239
NET ASSETS 54,902 37,239
CAPITAL AND RESERVES
Called up share capital 8 200 200
Profit and Loss Account 54,702 37,039
SHAREHOLDERS' FUNDS 54,902 37,239
Page 1
Page 2
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs JANE ALWAY
Director
19/09/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
PENGUIN PRODUCTIONS LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 07748508 . The registered office is 84 HIGH STREET, HARLESDEN, LONDON, NW10 4SJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0%
Leasehold 0%
Plant & Machinery 25%
Motor Vehicles 25%
Fixtures & Fittings 25%
Computer Equipment 25%
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.6. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 5 5
5 5
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4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 September 2023 18,986
Additions 1,629
As at 31 August 2024 20,615
Depreciation
As at 1 September 2023 16,370
Provided during the period 1,062
As at 31 August 2024 17,432
Net Book Value
As at 31 August 2024 3,183
As at 1 September 2023 2,616
5. Stocks
2024 2023
£ £
Materials 1,500 1,400
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 13,086 13,489
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,709 4,024
Corporation tax 11,862 10,489
Other creditors 3,880 3,979
Director's loan account 18,997 19,513
38,448 38,005
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
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