Registration number:
Tiny Whisper Productions Limited
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Tiny Whisper Productions Limited
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Tiny Whisper Productions Limited
Company Information
Director |
N L Park |
Registered office |
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Accountants |
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Tiny Whisper Productions Limited
Statement of Financial Position as at 29 February 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Other financial assets |
356,646 |
326,903 |
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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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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
956,480 |
1,007,238 |
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Shareholders' funds |
956,580 |
1,007,338 |
For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges her 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.
Tiny Whisper Productions Limited
Statement of Financial Position as at 29 February 2024
Approved and authorised by the
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N L Park
Director
Company registration number: 06811303
Tiny Whisper Productions Limited
Notes to the Unaudited Financial Statements for the Year Ended 29 February 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:
The principal activity of the company is that of the provision of services to the film and television industry.
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
Summary of significant accounting policies
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.
Going concern
The company made a profit for the year ended 29 February 2024 and had net assets of £956,580 at that date including cash at bank of £281,327.
The director has considered the current economic conditions and believes the company is well placed to deal with them. Turnover from royalties of past productions has allowed the company to continue to trade profitably.
On the basis of the above, and after making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.
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 sales/value added tax, rebates and discounts.
The company recognises revenue from services based upon the stage of contractual completion. Royalty income is recognised in the period in which it is earned.
Tiny Whisper Productions Limited
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge 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.
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 |
Freehold buildings |
2% straight line |
Furniture, fittings and equipment |
25% straight line |
Motor vehicles |
20% straight line |
Investments
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Dividends on equity securities are recognised in income when receivable.
Tiny Whisper Productions Limited
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024
Staff numbers |
The average number of persons employed by the company during the year, was
Tangible assets |
Freehold land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 March 2023 |
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Additions |
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At 29 February 2024 |
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Depreciation |
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At 1 March 2023 |
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Charge for the year |
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At 29 February 2024 |
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Carrying amount |
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At 29 February 2024 |
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At 28 February 2023 |
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Tiny Whisper Productions Limited
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024
Other financial assets |
Financial assets at fair value through profit and loss |
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Non-current financial assets |
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Cost or valuation |
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At 1 March 2023 |
326,903 |
Fair value adjustments |
16,637 |
Additions |
144,253 |
Disposals |
(131,147) |
At 29 February 2024 |
356,646 |
Carrying amount |
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At 29 February 2024 |
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At 28 February 2023 |
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Debtors |
2024 |
2023 |
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Trade debtors |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Tiny Whisper Productions Limited
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024
Transactions with Directors |
At 29 February 2024 an amount of £143,630 (2023 - £220,684) was due from the director. During the year there were advances of £136,479 and repayments of £223,971. Interest of £5,991 (2023 - £6,250) has been charged at 2% p.a. to 5 April 2023 and at £2.25% p.a. thereafter. There are no set terms in place.
Profit and loss reserve |
The profit and loss account includes all current and prior year retained earnings and accumulated losses. Of the amount standing to the credit of the profit and loss account an amount of £18,749 (2023 - £15,412) is not distributable in accordance with the Companies Act 2006.