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COMPANY REGISTRATION NUMBER: 11869964
Abbottvision Productions Limited
Filleted Unaudited Accounts
31 March 2024
Abbottvision Productions Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Investments
5
100
100
Current assets
Debtors
6
157,447
144,084
Cash at bank and in hand
1,262,527
1,000,543
------------
------------
1,419,974
1,144,627
Creditors: amounts falling due within one year
7
( 21,101)
( 392,804)
------------
------------
Net current assets
1,398,873
751,823
------------
---------
Total assets less current liabilities
1,398,973
751,923
------------
---------
Net assets
1,398,973
751,923
------------
---------
Capital and reserves
Called up share capital
70
70
Profit and loss account
1,398,903
751,853
------------
---------
Shareholders funds
1,398,973
751,923
------------
---------
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year 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 year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts .
Abbottvision Productions Limited
Statement of Financial Position (continued)
31 March 2024
These accounts were approved by the board of directors and authorised for issue on 20 November 2024 , and are signed on behalf of the board by:
M N Carr
Director
Company registration number: 11869964
Abbottvision Productions Limited
Notes to the Accounts
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Orange Street, Haymarket, London, WC2H 7DQ, UK.
2. Statement of compliance
These accounts have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The accounts have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The accounts are prepared in sterling, which is the functional currency of the entity.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying small entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under section 1A of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover relates to the production of television series. It represents the value of the work done in the period, including estimates of amounts not invoiced and is stated after trade discounts, other taxes and net of VAT. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Financial instruments
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 entity after deducting all of its financial liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Investments
Shares in group undertakings
£
Cost
At 1 April 2023 and 31 March 2024
100
----
Impairment
At 1 April 2023 and 31 March 2024
----
Carrying amount
At 31 March 2024
100
----
At 31 March 2023
100
----
6. Debtors
2024
2023
£
£
Trade debtors
144,071
134,000
Prepayments and accrued income
7,519
9,974
VAT recoverable
5,747
Other debtors
110
110
---------
---------
157,447
144,084
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
3,266
Trade creditors
413
295
Accruals and deferred income
9,863
275,363
Social security and other taxes
10,348
113,403
Other creditors
477
477
--------
---------
21,101
392,804
--------
---------
8. Related party transactions
All related-party transactions that took place in the year were made on terms equivalent to those that prevail in arm's length transactions and therefore are not required to be disclosed under FRS 102 Section 1AC 35.
9. Controlling party
The company is under the control of P Abbott , a director and majority shareholder.