Registration number:
Businesswoman Special Productions Limited
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Businesswoman Special Productions Limited
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Businesswoman Special Productions Limited
Company Information
Director |
N M Coughlan |
Registered office |
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Accountants |
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Businesswoman Special Productions Limited
Statement of Financial Position as at 31 May 2024
Note |
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 (liabilities)/assets |
( |
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Net (liabilities)/assets |
( |
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Capital and reserves |
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Called up share capital |
1 |
1 |
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Retained earnings |
(179,448) |
507 |
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Shareholders' (deficit)/funds |
(179,447) |
508 |
For the financial year ending 31 May 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.
Approved and authorised by the
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N M Coughlan
Director
Company registration number: 14127337
Businesswoman Special Productions Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 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 performing arts services.
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' Section 1A 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.
Disclosure of long or short period
Going concern
The company made a loss for the year ended 31 May 2024 and had net liabilities at that date amounting to £179,447.
The director believes that the company's services will remain in demand and that it will return to profitability for the forthcoming year.
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.
Businesswoman Special Productions Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024
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.
The company recognises revenue when it has fulfilled the contractual obligation under its service contracts, based on the stage of completion and is shown net of sales/value added tax, rebates and discounts. Income from royalties is recognised over the period to which the royalties arise.
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.
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 |
Office equipment |
33% straight line |
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.
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 during the year, was
Businesswoman Special Productions Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024
Tangible assets |
Office equipment |
Total |
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Cost or valuation |
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At 1 June 2023 |
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Additions |
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At 31 May 2024 |
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Depreciation |
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At 1 June 2023 |
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Charge for the year |
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At 31 May 2024 |
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Carrying amount |
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At 31 May 2024 |
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At 31 May 2023 |
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Debtors |
2024 |
2023 |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Taxation and social security |
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Accruals and deferred income |
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Related party transactions |
At 31 May 2024 an amount of £88,612 (2023: £297,240) was due from the director. During the year advances of £274,147 and repayments of £192,097 were made. During the year an amount of £297,240 due to the company was received. Interest of £6,562 (2023: £6,626) is payable to the company at 2.25% p.a. There were no set terms in place.