REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
It's All Sorted Productions Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
It's All Sorted Productions Limited |
It's All Sorted Productions Limited (Registered number: 07450706) |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
It's All Sorted Productions Limited |
Company Information |
for the Year Ended 31 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
1,733 Coventry Road |
South Yardley |
Birmingham |
West Midlands |
B26 1DT |
BANKERS: |
193 Camden High Street |
London |
NW1 7PJ |
It's All Sorted Productions Limited (Registered number: 07450706) |
Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
Property, plant and equipment | 6 |
CURRENT ASSETS |
Inventories | 7 |
Debtors | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
9 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
10 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET (LIABILITIES)/ASSETS | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 13 |
Revaluation reserve | 14 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
It's All Sorted Productions Limited (Registered number: 07450706) |
Balance Sheet - continued |
31 December 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
It's All Sorted Productions Limited (Registered number: 07450706) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
It's All Sorted Productions Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
At 31 December 2023, the company had net current liabilities of £260,336 however the directors are confident that the company will be able to operate within its agreed banking facilities in the forthcoming year. |
Turnover |
Turnover represents net invoiced sales of photographic services provided and image sales, excluding value added tax. |
Tangible fixed assets |
Long leasehold | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
It's All Sorted Productions Limited (Registered number: 07450706) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Loans from directors |
As a small entity the company measures a basic financial liability that are loans from directors at transaction price. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
AMORTISATION |
At 1 January 2023 |
and 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
It's All Sorted Productions Limited (Registered number: 07450706) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
6. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
Long | Plant and | and |
leasehold | machinery | fittings |
£ | £ | £ |
COST OR VALUATION |
At 1 January 2023 |
Additions |
Disposals | ( |
) | ( |
) |
Impairments | (107,106 | ) | - | - |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
Impairments | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 January 2023 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
Impairments | - | - | (107,106 | ) |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
Impairments | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Cost or valuation at 31 December 2023 is represented by: |
Long | Plant and | Computer |
leasehold | machinery | equipment | Totals |
£ | £ | £ | £ |
Valuation in 2016 | 72,927 | - | - | 72,927 |
Valuation in 2023 | (107,106 | ) | - | - | (107,106 | ) |
Cost | 346,593 | 9,782 | 17,067 | 373,442 |
312,414 | 9,782 | 17,067 | 339,263 |
It's All Sorted Productions Limited (Registered number: 07450706) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
6. | PROPERTY, PLANT AND EQUIPMENT - continued |
The company's leasehold property has been revalued by Currell Group, Chartered Surveyors at 26 May 2017 at fair value and this asset has been adopted in the previous years accounts under FRS 102 transitional provisions. |
If leasehold property had not been revalued independently on an open market value basis it would have been included at the following historical cost: |
31.12.23 | 31.12.22 |
£ | £ |
Cost | 346,593 | 346,593 |
======= | ====== |
Aggregate depreciation | 55,761 | 48,829 |
======= | ====== |
Deferred taxation which would arise if assets were disposed of at their revalued amounts has been provided for in these financial statements. |
7. | INVENTORIES |
31.12.23 | 31.12.22 |
£ | £ |
Stocks |
8. | DEBTORS |
31.12.23 | 31.12.22 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Prepayments and accrued income |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Tax |
Social security and other taxes |
Other creditors |
Directors' current accounts | 16,572 | 4,928 |
Accruals and deferred income |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Bank loans |
It's All Sorted Productions Limited (Registered number: 07450706) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
11. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.12.23 | 31.12.22 |
£ | £ |
Within one year |
Between one and five years |
12. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.12.23 | 31.12.22 |
£ | £ |
Bank loans |
Barclays Bank plc hold a legal charge over the company's property at Unit 2A, Singer Mews, 4-14 Union Road, London dated 1 December 2015. |
The bank loans are repayable by instalments and the amount falling due after five years totals £41,355 (2022 - £55,088). |
13. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.23 | 31.12.22 |
value: | £ | £ |
Ordinary | 1 | 100 | 100 |
14. | RESERVES |
Revaluation |
reserve |
£ |
At 1 January 2023 |
Transfer | (50,550 | ) |
At 31 December 2023 |
15. | CAPITAL COMMITMENTS |
31.12.23 | 31.12.22 |
£ | £ |
Contracted but not provided for in the |
financial statements |
It's All Sorted Productions Limited (Registered number: 07450706) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
16. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022: |
31.12.23 | 31.12.22 |
£ | £ |
Balance outstanding at start of year |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
17. | RELATED PARTY DISCLOSURES |
Loans regarding group undertakings are interest free with no specific repayment terms. |
Loans with key management personnel are unsecured and interest free with no specific repayment terms. |