Company Registration No. NI057924 (Northern Ireland)
Peter Corry Productions Limited
Unaudited accounts
for the year ended 31 January 2024
Peter Corry Productions Limited
Statement of financial position
as at 31 January 2024
Intangible assets
8,015
6,882
Tangible assets
14,895
12,777
Cash at bank and in hand
22,915
53,499
Creditors: amounts falling due within one year
(59,013)
(78,615)
Net current (liabilities)/assets
(6,612)
9,539
Total assets less current liabilities
16,298
29,198
Creditors: amounts falling due after more than one year
(16,198)
(26,450)
Called up share capital
100
100
Profit and loss account
-
2,648
Shareholders' funds
100
2,748
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 October 2024 and were signed on its behalf by
Peter Corry
Director
Company Registration No. NI057924
Peter Corry Productions Limited
Notes to the Accounts
for the year ended 31 January 2024
Peter Corry Productions Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI057924. The registered office is Unit 2 Channel Wharf , 21 Old Channel Road, Belfast, Antrim, BT3 9DE, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in sterling.
The director believes that Peter Corry Productions Limited has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least a period of 12 months from the date of approval of the financial statements. Accordingly, the company continues to adopt the going concern basis in preparation of its financial statements.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Straight Line
Computer equipment
33.33% Straight Line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
Peter Corry Productions Limited
Notes to the Accounts
for the year ended 31 January 2024
Government grants are credited to the Profit and Loss Account when receivable. Government grants receivable were £1,063.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from performing arts is recognised when all of the following criteria are satisfied:
- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the amount of turnover can be measured reliably;
- it is probable that the Company will receive the consideration due under the transaction; and
- the costs incurred in respect of the transaction can be measured reliably.
4
Intangible fixed assets
Other
5
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 February 2023
10,742
15,928
26,670
At 31 January 2024
20,805
15,928
36,733
At 1 February 2023
2,686
11,207
13,893
Charge for the year
5,143
2,802
7,945
At 31 January 2024
7,829
14,009
21,838
At 31 January 2024
12,976
1,919
14,895
At 31 January 2023
8,056
4,721
12,777
Peter Corry Productions Limited
Notes to the Accounts
for the year ended 31 January 2024
Amounts falling due within one year
Accrued income and prepayments
1,858
1,536
Other debtors
20,862
32,580
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
7,968
7,715
Trade creditors
7,525
11,277
Taxes and social security
13,590
4,333
Other creditors
2,689
12,855
8
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
16,198
26,450
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).