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Registration number: 08978313

Squirrel Productions Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Squirrel Productions Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Squirrel Productions Limited

Company Information

Directors

Mrs Alison Fairhurst

Mr Paul Michael Fairhurst

Company secretary

Mr Paul Michael Fairhurst

Registered office

59 Abbeygate Street
Bury St Edmunds
Suffolk
IP33 1LB

Accountants

Jacobs Allen Limited
Chartered Accountants & Chartered Tax Advisers59 Abbeygate Street
Bury St Edmunds
Suffolk
IP33 1LB

 

Squirrel Productions Limited

(Registration number: 08978313)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

56,309

72,495

Current assets

 

Debtors

5

10,386

16,977

Cash at bank and in hand

 

48,507

62,624

 

58,893

79,601

Creditors: Amounts falling due within one year

6

(27,352)

(9,120)

Net current assets

 

31,541

70,481

Total assets less current liabilities

 

87,850

142,976

Creditors: Amounts falling due after more than one year

6

(35,743)

(41,282)

Provisions for liabilities

(10,698)

(13,482)

Net assets

 

41,409

88,212

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

41,309

88,112

Shareholders' funds

 

41,409

88,212

For the financial year ending 30 April 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 and 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 Board on 22 January 2025 and signed on its behalf by:
 

.........................................
Mrs Alison Fairhurst
Director

.........................................
Mr Paul Michael Fairhurst
Company secretary and director

 
     
 

Squirrel Productions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:
59 Abbeygate Street
Bury St Edmunds
Suffolk
IP33 1LB
England

These financial statements were authorised for issue by the Board on 22 January 2025.

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.

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 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Squirrel Productions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tax

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 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

15% per year on the reducing balance

Computer equipment

33.33% per year on cost

Motor Vehicles

20% per year on the reducing balance

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 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.

 

Squirrel Productions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Borrowings

Borrowings are recognised initially at the transaction amount and subsequently measured at amortised cost using the effective interest method.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

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 3 (2023 - 3).

 

Squirrel Productions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Office equipment
 £

Motor vehicles
 £

Computer equipment
£

Total
£

Cost or valuation

At 1 May 2023

25,054

60,090

71,923

157,067

Additions

509

-

3,203

3,712

Disposals

-

-

(2,568)

(2,568)

At 30 April 2024

25,563

60,090

72,558

158,211

Depreciation

At 1 May 2023

8,307

12,018

64,247

84,572

Charge for the year

2,591

9,614

7,280

19,485

Eliminated on disposal

-

-

(2,155)

(2,155)

At 30 April 2024

10,898

21,632

69,372

101,902

Carrying amount

At 30 April 2024

14,665

38,458

3,186

56,309

At 30 April 2023

16,747

48,072

7,676

72,495

5

Debtors

Current

2024
£

2023
£

Trade debtors

-

150

Prepayments

801

598

Other debtors

9,585

16,229

 

10,386

16,977

 

Squirrel Productions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

5,538

5,287

Taxation and social security

 

6,118

-

Accruals and deferred income

 

3,050

2,754

Other creditors

 

12,646

1,079

 

27,352

9,120


Creditors include net obligations under hire purchase contracts of £5,538 (2023 £5,287) which are secured on the asset concerned.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

35,743

41,282


Creditors include net obligations under hire purchase contracts of £35,743 (2023 £41,282) which are secured on the asset concerned.

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

8

Related party transactions

Transactions with directors

2024

At 1 May 2023
£

Repayments by director
£

At 30 April 2024
£

Interest free advances to the directors

277

(277)

-

 

 

Squirrel Productions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

2023

At 1 May 2022
£

Advances to director
£

At 30 April 2023
£

Interest free advances to the directors

-

277

277

 

Summary of transactions with other related parties

The directors provided loans to the company which at the year-end amounted to £11,764 (2023 - nil). During the year, interest totalling £1,749 (2023 £1,495) was charged.

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Hire purchase contracts

35,743

41,282

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

5,538

5,287