2023-01-012023-12-312023-12-31false07689404FRIEND PRODUCTIONS 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FRIEND PRODUCTIONS LIMITED

Registered Number
07689404
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

FRIEND PRODUCTIONS LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

JACOBS, Luke William Michael

Registered Address

71-75 Shelton Street
Covent Garden
London
WC2H 9JQ

Registered Number

07689404 (England and Wales)
FRIEND PRODUCTIONS LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets43,4683,419
3,4683,419
Current assets
Debtors1,895,2051,172,331
Cash at bank and on hand831,8861,105,201
2,727,0912,277,532
Creditors amounts falling due within one year5(1,274,519)(1,023,245)
Net current assets (liabilities)1,452,5721,254,287
Total assets less current liabilities1,456,0401,257,706
Provisions for liabilities(659)-
Net assets1,455,3811,257,706
Capital and reserves
Called up share capital9595
Other reserves55
Profit and loss account1,455,2811,257,606
Shareholders' funds1,455,3811,257,706
The financial statements were approved and authorised for issue by the Director on 23 September 2024, and are signed on its behalf by:
JACOBS, Luke William Michael
Director
Registered Company No. 07689404
FRIEND PRODUCTIONS LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Fixtures and fittings5
Office Equipment5
2.Average number of employees

20232022
Average number of employees during the year45
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 January 239,05923,35232,411
Additions-1,7901,790
At 31 December 239,05925,14234,201
Depreciation and impairment
At 01 January 238,93120,06128,992
Charge for year641,6771,741
At 31 December 238,99521,73830,733
Net book value
At 31 December 23643,4043,468
At 31 December 221283,2913,419
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables504,753238,187
Bank borrowings and overdrafts5,719-
Taxation and social security67,17534,011
Other creditors7881,073
Accrued liabilities and deferred income696,084749,974
Total1,274,5191,023,245
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.