Registered number |
Registered number: | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2024 | 2023 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 3 | ||||||
Current assets | |||||||
Debtors | 4 | ||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 5 | ( |
( |
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Net current assets | |||||||
Net assets | |||||||
Capital and reserves | |||||||
Called up share capital | |||||||
Profit and loss account | |||||||
Shareholders' funds | |||||||
Stuart Jackson | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. |
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Going Concern | ||||||||
The financial statements have been prepared on the going concern basis. The directors have considered a period of twelve months from the date of signature of the accounts and have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. It is therefore considered appropriate to continue to adopt the going concern basis of accounting in preparing the annual financial statements. | ||||||||
Turnover | ||||||||
Tangible fixed assets | ||||||||
Computer Equipment | 25% straight line | |||||||
Office Equipment/ Furniture | 10% straight line | |||||||
Cash and cash equivalents | ||||||||
Financial instruments | ||||||||
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
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Basic financial assets | ||||||||
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. | ||||||||
Classification of financial liabilities | ||||||||
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. | ||||||||
Basic financial liabilities | ||||||||
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
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Equity instruments | ||||||||
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. | ||||||||
Taxation | ||||||||
Foreign currency translation | ||||||||
Leases | ||||||||
Pensions | ||||||||
2 | Employees | 2024 | 2023 | |||||
Number | Number | |||||||
Average number of persons employed by the company | ||||||||
3 | Tangible fixed assets | |||||||
Computer Equipment | Other Equipment/Furniture | Total | ||||||
£ | £ | £ | ||||||
Cost | ||||||||
At 1 March 2023 | ||||||||
At 29 February 2024 | ||||||||
Depreciation | ||||||||
At 1 March 2023 | ||||||||
Charge for the year | ||||||||
At 29 February 2024 | ||||||||
Net book value | ||||||||
At 29 February 2024 | ||||||||
At 28 February 2023 | ||||||||
4 | Debtors | 2024 | 2023 | |||||
£ | £ | |||||||
Trade debtors | ||||||||
Other debtors | ||||||||
5 | Creditors: amounts falling due within one year | 2024 | 2023 | |||||
£ | £ | |||||||
Trade creditors | ||||||||
Amounts owed to group undertakings and undertakings in which the company has a participating interest | ||||||||
Taxation and social security costs | ||||||||
Other creditors | ||||||||
6 | Called up share capital | 2024 | 2023 | |||||
£ | £ | |||||||
Ordinary share capital | ||||||||
Issued and fully paid | ||||||||
120 Ordinary shares of £1 each | 120 | 120 | ||||||
120 | 120 | |||||||
7 | Other financial commitments | 2024 | 2023 | |||||
£ | £ | |||||||
Total future minimum payments under non-cancellable operating leases | ||||||||
8 | Other information | |||||||
JFN Productions Limited is a private company limited by shares and incorporated in Scotland. Its registered office is: | ||||||||
3a Montgomery Street Lane | ||||||||
Edinburgh | ||||||||
EH7 5JT |