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Registration number: 13841862

Yellow Lens Productions Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Yellow Lens Productions Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Yellow Lens Productions Ltd

Company Information

Directors

Graham Johnson

Richard James

Registered office

27 King George Street
Greenwich
London
SE10 8QJ

Accountants

Field Sullivan Limited
9 Hare & Billet Road
Blackheath
SE3 0RB

 

Yellow Lens Productions Ltd

(Registration number: 13841862)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

347

597

Current assets

 

Debtors

6

24,449

66,577

Cash at bank and in hand

 

8,582

453

 

33,031

67,030

Creditors: Amounts falling due within one year

7

(32,953)

(44,277)

Net current assets

 

78

22,753

Net assets

 

425

23,350

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

423

23,348

Shareholders' funds

 

425

23,350

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.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Yellow Lens Productions Ltd

(Registration number: 13841862)
Balance Sheet as at 31 January 2024

Approved and authorised by the Board on 30 October 2024 and signed on its behalf by:
 

.........................................
Graham Johnson
Director

 

Yellow Lens Productions Ltd

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 and Wales.

The address of its registered office is:
27 King George Street
Greenwich
London
SE10 8QJ

These financial statements were authorised for issue by the Board on 30 October 2024.

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;
the service is delivered. When the service delivered straddles the accounting period end, the income is approtioned on a pro-rata basis.

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.

 

Yellow Lens Productions Ltd

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

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.

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

33.33% straight line

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.

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.

 

Yellow Lens Productions Ltd

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

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 directors) during the year, was 2 (2023 - 2).

4

Taxation

Tax charged/(credited) in the income statement

2024
£

2023
£

Current taxation

UK corporation tax

9,656

5,285

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

751

751

At 31 January 2024

751

751

Depreciation

At 1 February 2023

154

154

Charge for the year

250

250

At 31 January 2024

404

404

Carrying amount

At 31 January 2024

347

347

At 31 January 2023

597

597

 

Yellow Lens Productions Ltd

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

6

Debtors

Current

2024
£

2023
£

Other debtors

24,449

66,577

 

24,449

66,577

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

431

-

Amounts due to related parties

10

419

-

Social security and other taxes

 

2,071

7,215

Other payables

 

19,800

19,800

Accruals

 

1,650

4,766

Income tax liability

8,582

12,496

 

32,953

44,277

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share A of £1 each

1

1

1

1

Ordinary share B of £1 each

1

1

1

1

2

2

2

2

 

Yellow Lens Productions Ltd

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

9

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £61,000.00 (2023 - £Nil) per each Ordinary share A

61,000

-

Interim dividend of £2,600.00 (2023 - £Nil) per each Ordinary share B

2,600

-

63,600

-

10

Related party transactions

Summary of transactions with directors

Graham Johnson
 In the year the director withdrew £2,631 (2023: £nil) and recieved dividends of £2,600 (2023: £nil). At the year end the company owed the director £419 (2023: £nil).
 

Richard James
In the year the director withdrew £23,077 (2023: £59,593) and recieved dividends of £61,000 (2023: £nil). At the year end the director owed the company £18,280 (2023: £59,366).

Summary of transactions with entities with joint control or significant interest

Yellow Press Limited
 In the year Yellow Lens Production Limited recieved £nil (2023: £19,800) from Yellow Press Limited and paid £nil to (2023: £nil) Yellow Press Limited. At the year end Yellow Press Limited was owed £19,800 (2023: £19,800) by Yellow Lens Productions Limited.