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Company No: 12639651 (England and Wales)

SHIPYARD PRODUCTIONS LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

SHIPYARD PRODUCTIONS LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

SHIPYARD PRODUCTIONS LIMITED

COMPANY INFORMATION

For the financial year ended 30 June 2024
SHIPYARD PRODUCTIONS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 June 2024
DIRECTOR G Sheppard
REGISTERED OFFICE 2 Leman Street
London
E1W 9US
United Kingdom
COMPANY NUMBER 12639651 (England and Wales)
ACCOUNTANT Gravita II LLP
Aldgate Tower
2 Leman Street
London
E1 8FA
United Kingdom
SHIPYARD PRODUCTIONS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 June 2024
SHIPYARD PRODUCTIONS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 4,724 6,526
4,724 6,526
Current assets
Debtors 5 110,302 95,719
Cash at bank and in hand 4,730 23,205
115,032 118,924
Creditors: amounts falling due within one year 6 ( 31,231) ( 39,901)
Net current assets 83,801 79,023
Total assets less current liabilities 88,525 85,549
Net assets 88,525 85,549
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 88,425 85,449
Total shareholder's funds 88,525 85,549

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Shipyard Productions Limited (registered number: 12639651) were approved and authorised for issue by the Director on 29 January 2025. They were signed on its behalf by:

G Sheppard
Director
SHIPYARD PRODUCTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
SHIPYARD PRODUCTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Shipyard Productions Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2 Leman Street, London, E1W 9US, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the director is required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the director has made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 July 2023 9,012 9,012
At 30 June 2024 9,012 9,012
Accumulated depreciation
At 01 July 2023 2,486 2,486
Charge for the financial year 1,802 1,802
At 30 June 2024 4,288 4,288
Net book value
At 30 June 2024 4,724 4,724
At 30 June 2023 6,526 6,526

5. Debtors

2024 2023
£ £
Trade debtors 0 390
Corporation tax 19,729 19,729
Other debtors 90,573 75,600
110,302 95,719

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 168 0
Taxation and social security 27,616 37,435
Other creditors 3,447 2,466
31,231 39,901

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

Transactions with the entity's director

2024 2023
£ £
**Directors' transactions** 0 0
Opening balance 58,456 (55,867)
Amounts advanced 23,523 195,893
Interest charged at a rate 2.25% 1,664 628
Amounts repaid (10,295) (82,198)
Closing balance 73,329 58,456