Registration number:
Squirrel Productions Limited
for the Year Ended 30 April 2024
Squirrel Productions Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Squirrel Productions Limited
Company Information
Directors |
Mrs Alison Fairhurst Mr Paul Michael Fairhurst |
Company secretary |
Mr Paul Michael Fairhurst |
Registered office |
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Accountants |
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Squirrel Productions Limited
(Registration number: 08978313)
Balance Sheet as at 30 April 2024
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2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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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:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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Squirrel Productions Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Squirrel Productions Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Tangible assets |
Office equipment |
Motor vehicles |
Computer equipment |
Total |
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Cost or valuation |
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At 1 May 2023 |
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Additions |
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- |
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Disposals |
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At 30 April 2024 |
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Depreciation |
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At 1 May 2023 |
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Charge for the year |
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Eliminated on disposal |
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- |
( |
( |
At 30 April 2024 |
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Carrying amount |
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At 30 April 2024 |
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At 30 April 2023 |
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Debtors |
Current |
2024 |
2023 |
Trade debtors |
- |
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Prepayments |
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Other debtors |
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Squirrel Productions Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Taxation and social security |
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- |
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Accruals and deferred income |
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Other creditors |
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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 |
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Due after one year |
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Loans and borrowings |
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Creditors include net obligations under hire purchase contracts of £35,743 (2023 £41,282) which are secured on the asset concerned.
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
Related party transactions |
Transactions with directors |
2024 |
At 1 May 2023 |
Repayments by director |
At 30 April 2024 |
Interest free advances to the directors |
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( |
- |
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 |
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Summary of transactions with other related parties
Loans and borrowings |
2024 |
2023 |
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Non-current loans and borrowings |
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Hire purchase contracts |
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Current loans and borrowings
2024 |
2023 |
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Hire purchase contracts |
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