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Registration number: 03562345

Inca Productions Limited

Unaudited Filleted Financial Statements

for the Period from 1 April 2023 to 31 December 2023

 

Inca Productions Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Inca Productions Limited

Company Information

Director

Ms I M Chouvet

Registered office

2nd Floor,
99 Charterhouse Street
London
EC1M 6HR

Accountants

Cameron Alexander Accountants Ltd
Chartered Certified Accountants
2 Western Street
Barnsley
South Yorkshire
S70 2BP

 

Inca Productions Limited

(Registration number: 03562345)
Balance Sheet as at 31 December 2023

Note

2023
£

2023
£

Fixed assets

 

Tangible assets

4

37,354

25,925

Investments

5

167

167

 

37,521

26,092

Current assets

 

Debtors

6

4,914,698

2,121,736

Cash at bank and in hand

 

2,550,628

2,202,018

 

7,465,326

4,323,754

Creditors: Amounts falling due within one year

7

(3,432,460)

(2,176,229)

Net current assets

 

4,032,866

2,147,525

Total assets less current liabilities

 

4,070,387

2,173,617

Provisions for liabilities

(8,205)

(4,926)

Net assets

 

4,062,182

2,168,691

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

4,062,082

2,168,591

Shareholders' funds

 

4,062,182

2,168,691

For the financial period ending 31 December 2023 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 period in question in accordance with section 476; and

The director acknowledges her 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.

Approved and authorised by the director on 11 November 2024
 

 

Inca Productions Limited

(Registration number: 03562345)
Balance Sheet as at 31 December 2023

.........................................
Ms I M Chouvet
Director

 

Inca Productions Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 31 December 2023

1

General information

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

The address of its registered office is:
2nd Floor,
99 Charterhouse Street
London
EC1M 6HR

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 and deferred 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.

 

Inca Productions Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 31 December 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Fixtures, fittings & equipment

25% on reducing balance

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.

 

Inca Productions Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 31 December 2023

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.

Leasing and hire purchase contracts

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account on a straight line basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 17 (2023 - 15).

 

Inca Productions Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 31 December 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

-

62,120

62,120

Additions

5,669

12,875

18,544

At 31 December 2023

5,669

74,995

80,664

Depreciation

At 1 April 2023

-

36,195

36,195

Charge for the period

1,260

5,855

7,115

At 31 December 2023

1,260

42,050

43,310

Carrying amount

At 31 December 2023

4,409

32,945

37,354

At 31 March 2023

25,925

25,925

5

Investments

2023
£

2023
£

Investments in subsidiaries

167

167

Subsidiaries

£

Cost or valuation

At 1 April 2023

167

Provision

Carrying amount

At 31 December 2023

167

At 31 March 2023

167

 

Inca Productions Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 31 December 2023

6

Debtors

Current

Note

2023
£

2023
£

Trade debtors

 

4,119,293

1,218,431

Amounts owed by related parties

9

234,037

96,663

Prepayments

 

472,955

752,174

Other debtors

 

88,413

54,468

   

4,914,698

2,121,736

7

Creditors

Creditors: amounts falling due within one year

2023
£

2023
£

Due within one year

Trade creditors

1,252,703

215,499

Taxation and social security

126,644

135,738

Accruals and deferred income

1,341,029

1,530,439

Other creditors

712,084

294,553

3,432,460

2,176,229

 

Inca Productions Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 31 December 2023

8

Share capital

Allotted, called up and fully paid shares

2023

2023

No.

£

No.

£

Ordinary of £1 each

90

90

90

90

Ordinary A of £1 each

10

10

10

10

100

100

100

100

9

Related party transactions

Summary of transactions with subsidiaries

As at 31 December 2023 the company was owed £234,037 (31 March 2023 - £96,663) from its subsidary Inca International Productions INC.