Goya Productions Ltd 14717238 false 2023-03-08 2024-03-31 2024-03-31 The principal activity of the company is that of video production and film making. Digita Accounts Production Advanced 6.30.9574.0 true true 14717238 2023-03-08 2024-03-31 14717238 2024-03-31 14717238 core:CurrentFinancialInstruments 2024-03-31 14717238 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 14717238 core:Goodwill 2024-03-31 14717238 core:FurnitureFittings 2024-03-31 14717238 core:MotorVehicles 2024-03-31 14717238 core:OfficeEquipment 2024-03-31 14717238 1 2024-03-31 14717238 bus:SmallEntities 2023-03-08 2024-03-31 14717238 bus:AuditExemptWithAccountantsReport 2023-03-08 2024-03-31 14717238 bus:FilletedAccounts 2023-03-08 2024-03-31 14717238 bus:SmallCompaniesRegimeForAccounts 2023-03-08 2024-03-31 14717238 bus:RegisteredOffice 2023-03-08 2024-03-31 14717238 bus:Director1 2023-03-08 2024-03-31 14717238 bus:PrivateLimitedCompanyLtd 2023-03-08 2024-03-31 14717238 core:Goodwill 2023-03-08 2024-03-31 14717238 core:ComputerEquipment 2023-03-08 2024-03-31 14717238 core:FurnitureFittings 2023-03-08 2024-03-31 14717238 core:FurnitureFittingsToolsEquipment 2023-03-08 2024-03-31 14717238 core:MotorVehicles 2023-03-08 2024-03-31 14717238 core:OfficeEquipment 2023-03-08 2024-03-31 14717238 countries:EnglandWales 2023-03-08 2024-03-31 14717238 1 2023-03-08 2024-03-31 14717238 1 2023-03-07 iso4217:GBP xbrli:pure

Registration number: 14717238

Goya Productions Ltd

Unaudited Filleted Financial Statements

for the Period from 8 March 2023 to 31 March 2024

 

Goya Productions Ltd

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Goya Productions Ltd

(Registration number: 14717238)
Statement of Financial Position as at 31 March 2024

Note

2024
£

Fixed assets

 

Intangible assets

4

10,738

Tangible assets

5

93,474

 

104,212

Current assets

 

Debtors

6

9,543

Cash at bank and in hand

 

29,656

 

39,199

Creditors: Amounts falling due within one year

7

(121,524)

Net current liabilities

 

(82,325)

Total assets less current liabilities

 

21,887

Provisions for liabilities

(17,760)

Net assets

 

4,127

Capital and reserves

 

Called up share capital

1

Profit and loss account

4,126

Shareholders' funds

 

4,127

For the financial period ending 31 March 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 period 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 Statement of Comprehensive Income.

Approved and authorised by the Board on 15 November 2024 and signed on its behalf by:
 

 

Goya Productions Ltd

(Registration number: 14717238)
Statement of Financial Position as at 31 March 2024 (continued)


J Finnis
Director

 

Goya Productions Ltd

Notes to the Unaudited Financial Statements for the Period from 8 March 2023 to 31 March 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:
45 Leys Road
Torquay
Devon
TQ2 6EB
England

Principal activity

The principal activity of the company is that of video production and film making.

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

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

 

Goya Productions Ltd

Notes to the Unaudited Financial Statements for the Period from 8 March 2023 to 31 March 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of 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.

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 statement of financial position 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.

 

Goya Productions Ltd

Notes to the Unaudited Financial Statements for the Period from 8 March 2023 to 31 March 2024 (continued)

2

Accounting policies (continued)

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

25% reducing balance

Computer equipment

20% straight line

Motor vehicles

25% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5 year straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

 

Goya Productions Ltd

Notes to the Unaudited Financial Statements for the Period from 8 March 2023 to 31 March 2024 (continued)

2

Accounting policies (continued)

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

Additions acquired separately

13,149

13,149

At 31 March 2024

13,149

13,149

Amortisation

Amortisation charge

2,411

2,411

At 31 March 2024

2,411

2,411

Carrying amount

At 31 March 2024

10,738

10,738

 

Goya Productions Ltd

Notes to the Unaudited Financial Statements for the Period from 8 March 2023 to 31 March 2024 (continued)

5

Tangible assets

Fixtures and fittings
£

Computer equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

Additions

5,561

89,011

18,000

112,572

At 31 March 2024

5,561

89,011

18,000

112,572

Depreciation

Charge for the period

786

14,187

4,125

19,098

At 31 March 2024

786

14,187

4,125

19,098

Carrying amount

At 31 March 2024

4,775

74,824

13,875

93,474

6

Debtors

2024
£

Trade debtors

8,114

Other debtors

669

Prepayments

760

9,543

7

Creditors

Creditors: amounts falling due within one year

2024
£

Trade creditors

149

Taxation and social security

17,174

Other creditors

104,201

121,524

 

Goya Productions Ltd

Notes to the Unaudited Financial Statements for the Period from 8 March 2023 to 31 March 2024 (continued)

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

9

Related party transactions

Transactions with directors

2024

At 8 March 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Directors

-

31,423

(100,624)

(69,201)