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Registration number: 10587579 (England and Wales)

Nick Patrick Productions Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Nick Patrick Productions Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

Nick Patrick Productions Limited

Company Information

Director

N Patrick

Registered office

1A Knowland Drive
Milford on Sea
Lymington
Hampshire
SO41 0RH

Accountants

Howells & Co
Chartered Accountants
1A Knowland Drive
Milford on Sea
Lymington
SO41 0RH

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Nick Patrick Productions Limited
for the Year Ended 31 January 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Nick Patrick Productions Limited for the year ended 31 January 2024 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Nick Patrick Productions Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Nick Patrick Productions Limited and state those matters that we have agreed to state to the Board of Directors of Nick Patrick Productions Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nick Patrick Productions Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Nick Patrick Productions Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Nick Patrick Productions Limited. You consider that Nick Patrick Productions Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Nick Patrick Productions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Howells & Co
Chartered Accountants
1A Knowland Drive
Milford on Sea
Lymington
SO41 0RH

29 October 2024

 

Nick Patrick Productions Limited

(Registration number: 10587579)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,418

3,378

Current assets

 

Debtors

6

15,571

31,980

Investments

7

1,172

1,172

Other financial assets

5

150,000

-

Cash at bank and in hand

 

142,197

254,490

 

308,940

287,642

Creditors: Amounts falling due within one year

8

(34,484)

(17,520)

Net current assets

 

274,456

270,122

Net assets

 

275,874

273,500

Capital and reserves

 

Called up share capital

100

100

Retained earnings

275,774

273,400

Shareholders' funds

 

275,874

273,500

For the financial year ending 31 January 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 October 2024
 

 

Nick Patrick Productions Limited

(Registration number: 10587579)
Balance Sheet as at 31 January 2024

.........................................
N Patrick
Director

 

Nick Patrick Productions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England .

The address of its registered office is:
1A Knowland Drive
Milford on Sea
Lymington
Hampshire
SO41 0RH

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Nick Patrick Productions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% straight line basis

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Nick Patrick Productions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Nick Patrick Productions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

20,257

20,257

Additions

1,890

1,890

At 31 January 2024

22,147

22,147

Depreciation

At 1 February 2023

16,879

16,879

Charge for the year

3,850

3,850

At 31 January 2024

20,729

20,729

Carrying amount

At 31 January 2024

1,418

1,418

At 31 January 2023

3,378

3,378

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Current financial assets

Cost or valuation

At 1 February 2023

150,000

150,000

At 31 January 2024

150,000

150,000

Impairment

Carrying amount

At 31 January 2024

150,000

150,000

 

Nick Patrick Productions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

6

debtors

Current

2024
£

2023
£

Other debtors

15,571

31,980

 

15,571

31,980

7

Current asset investments

2024
£

2023
£

Other investments

1,172

1,172

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

32,984

15,694

Accruals and deferred income

1,500

1,500

Other creditors

-

326

34,484

17,520

9

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of 1,056 (2023 - 705) per each Ordinary

105,592

70,500