Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Abigail Maree Doyle 21/11/2016 Elliot Doyle 21/11/2016 Fionnuala Ann Doyle 21/11/2016 Lesley Doyle 25/03/2013 Patrick Doyle 15/12/2008 Patrick Neil Doyle 21/11/2016 08 August 2024 The principal activity of the company is the composition and production of music 06773337 2024-04-30 06773337 bus:Director1 2024-04-30 06773337 bus:Director2 2024-04-30 06773337 bus:Director3 2024-04-30 06773337 bus:Director4 2024-04-30 06773337 bus:Director5 2024-04-30 06773337 bus:Director6 2024-04-30 06773337 2023-04-30 06773337 core:CurrentFinancialInstruments 2024-04-30 06773337 core:CurrentFinancialInstruments 2023-04-30 06773337 core:ShareCapital 2024-04-30 06773337 core:ShareCapital 2023-04-30 06773337 core:RetainedEarningsAccumulatedLosses 2024-04-30 06773337 core:RetainedEarningsAccumulatedLosses 2023-04-30 06773337 core:Vehicles 2023-04-30 06773337 core:OtherPropertyPlantEquipment 2023-04-30 06773337 core:Vehicles 2024-04-30 06773337 core:OtherPropertyPlantEquipment 2024-04-30 06773337 core:RemainingRelatedParties core:CurrentFinancialInstruments 2024-04-30 06773337 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-04-30 06773337 bus:OrdinaryShareClass1 2024-04-30 06773337 2023-05-01 2024-04-30 06773337 bus:FilletedAccounts 2023-05-01 2024-04-30 06773337 bus:SmallEntities 2023-05-01 2024-04-30 06773337 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 06773337 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 06773337 bus:Director1 2023-05-01 2024-04-30 06773337 bus:Director2 2023-05-01 2024-04-30 06773337 bus:Director3 2023-05-01 2024-04-30 06773337 bus:Director4 2023-05-01 2024-04-30 06773337 bus:Director5 2023-05-01 2024-04-30 06773337 bus:Director6 2023-05-01 2024-04-30 06773337 core:Vehicles 2023-05-01 2024-04-30 06773337 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-05-01 2024-04-30 06773337 2022-05-01 2023-04-30 06773337 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 06773337 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 06773337 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 06773337 (England and Wales)

PENLAP PRODUCTIONS LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

PENLAP PRODUCTIONS LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

PENLAP PRODUCTIONS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 April 2024
PENLAP PRODUCTIONS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 5 63,553 13,375
63,553 13,375
Current assets
Debtors 6 530,001 530,000
Cash at bank and in hand 7 1,611,886 1,709,612
2,141,887 2,239,612
Creditors: amounts falling due within one year 8 ( 322,245) ( 416,797)
Net current assets 1,819,642 1,822,815
Total assets less current liabilities 1,883,195 1,836,190
Net assets 1,883,195 1,836,190
Capital and reserves
Called-up share capital 9 1 1
Profit and loss account 1,883,194 1,836,189
Total shareholders' funds 1,883,195 1,836,190

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Penlap Productions Limited (registered number: 06773337) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Patrick Doyle
Director

08 August 2024

PENLAP PRODUCTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
PENLAP PRODUCTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Penlap Productions Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 25 % reducing balance
Other property, plant and equipment 3 years straight line
Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 6 6

4. Dividends on equity shares

2024 2023
£ £
Amounts recognised as distributions to equity holders in the financial year:
Interim dividends for the financial year ended 30 April 2024 of £740,000 (2023: £685,000) per ordinary share 740,000 685,000

5. Tangible assets

Vehicles Other property, plant
and equipment
Total
£ £ £
Cost
At 01 May 2023 0 65,247 65,247
Additions 64,778 1,516 66,294
At 30 April 2024 64,778 66,763 131,541
Accumulated depreciation
At 01 May 2023 0 51,872 51,872
Charge for the financial year 4,049 12,067 16,116
At 30 April 2024 4,049 63,939 67,988
Net book value
At 30 April 2024 60,729 2,824 63,553
At 30 April 2023 0 13,375 13,375

6. Debtors

2024 2023
£ £
Amounts owed by related parties 530,000 530,000
Other debtors 1 0
530,001 530,000

7. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 1,611,886 1,709,612

8. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 0 20,213
Taxation and social security 306,055 345,611
Other creditors 16,190 50,973
322,245 416,797

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 0.001 each 1 1