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Sage Accounts Production Advanced 2023 - FRS102_2023
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COMPANY REGISTRATION NUMBER:
15224567
Filleted Unaudited Financial Statements |
|
Period from 20 October 2023 to 31 October 2024
Report to the director on the preparation of the unaudited statutory financial statements |
2 |
|
|
Statement of financial position |
3 |
|
|
Notes to the financial statements |
4 |
|
|
Period from 20 October 2023 to 31 October 2024
The director presents his report and the unaudited financial statements of the company for the period ended
31 October 2024
.
Principal activities
The principal activity of the company during the year was that of theatrical productions.
Directors
The directors who served the company during the period were as follows:
D M Stone |
(Appointed
7 May 2024) |
N Salmon |
(Served from
20 October 2023 to 8 May 2024)
|
|
|
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
2 April 2025
and signed on behalf of the board by:
Registered office: |
39 Charing Cross Road |
London |
WC2H 0AR |
|
Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of
NTN Productions Limited |
|
Period from 20 October 2023 to 31 October 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of NTN Productions Limited for the period ended 31 October 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
BAILHACHE LINTON LLP
Accountants
Bourne House
475 Godstone Road
Whyteleafe
Surrey
CR3 0BL
2 April 2025
Statement of Financial Position |
|
31 October 2024
Current assets
Debtors |
5 |
444,304 |
Cash at bank and in hand |
790,629 |
|
------------ |
|
1,234,933 |
|
|
|
Creditors: amounts falling due within one year |
6 |
2,546,457 |
|
------------ |
Net current liabilities |
1,311,524 |
|
------------ |
Total assets less current liabilities |
(
1,311,524) |
|
------------ |
Net liabilities |
(
1,311,524) |
|
------------ |
|
|
|
Capital and reserves
Called up share capital |
7 |
100 |
Profit and loss account |
(
1,311,624) |
|
------------ |
Shareholder deficit |
(
1,311,524) |
|
------------ |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
2 April 2025
, and are signed on behalf of the board by:
Company registration number:
15224567
Notes to the Financial Statements |
|
Period from 20 October 2023 to 31 October 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 39 Charing Cross Road, London, WC2H 0AR.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company's production of Next to Normal closed on 21 September 2024. Since the closure of the production, the company has ceased to actively trade and the directors intend to liquidate the company and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern. No adjustments are required to the financial statements as a result of them being prepared on a basis other than that of a going concern.
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 current liabilities
.
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from theatrical productions is recognised by reference to the date the performance took place.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Financial instruments
The company has only basic financial instruments measured at amortised cost, with no financial instruments classified as other, or basic instruments measured at fair value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
2
.
5.
Debtors
|
31 Oct 24 |
|
£ |
Trade debtors |
41,335 |
Other debtors |
402,969 |
|
--------- |
|
444,304 |
|
--------- |
|
|
6.
Creditors:
amounts falling due within one year
|
31 Oct 24 |
|
£ |
Trade creditors |
5,107 |
Social security and other taxes |
30,760 |
Other creditors |
2,510,590 |
|
------------ |
|
2,546,457 |
|
------------ |
|
|
7.
Called up share capital
Issued, called up and fully paid
|
31 Oct 24 |
|
No. |
£ |
Ordinary shares of £ 1 each |
100 |
100 |
|
---- |
---- |
|
|
|
8.
Controlling party
The immediate parent company is Gabe Gabriel Inc, a company incorporated in the USA, by virtue of its ownership of 100% of the issued share capital of the company. The ultimate controlling party is D M Stone.