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Registration number: 04059355

Neil Corbould Special Effects Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 August 2024

 

Neil Corbould Special Effects Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

Neil Corbould Special Effects Limited

Company Information

Directors

G Corbould

N Corbould

Company secretary

G Corbould

Registered office

Suite 1B1 Argyle House
Northside
Joel Street
Northwood Hills
HA6 1NW

 

Neil Corbould Special Effects Limited

(Registration number: 04059355)
Abridged Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

389,117

314,512

Current assets

 

Debtors

346,315

236,521

Cash at bank and in hand

 

319,703

544,020

 

666,018

780,541

Creditors: Amounts falling due within one year

(497,695)

(624,564)

Net current assets

 

168,323

155,977

Total assets less current liabilities

 

557,440

470,489

Creditors: Amounts falling due after more than one year

(162,059)

(171,583)

Provisions for liabilities

(96,389)

(58,932)

Net assets

 

298,992

239,974

Capital and reserves

 

Called up share capital

200

200

Retained earnings

298,792

239,774

Shareholders' funds

 

298,992

239,974

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 28 May 2025 and signed on its behalf by:
 

 

Neil Corbould Special Effects Limited

(Registration number: 04059355)
Abridged Balance Sheet as at 31 August 2024

.........................................
G Corbould
Company secretary and director

   
     
 

Neil Corbould Special Effects Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

1

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 abridged 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 abridged 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 sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, 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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change 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.

 

Neil Corbould Special Effects Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

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

Leasehold property

over the period of the lease

Motor vehicles

25% reducing balance

Other fixed assets

12.5% - 33.3% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

 

Neil Corbould Special Effects Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

3

Intangible assets

Total
£

Cost or valuation

At 1 September 2023

145,000

At 31 August 2024

145,000

Amortisation

At 1 September 2023

145,000

At 31 August 2024

145,000

Carrying amount

At 31 August 2024

-

4

Tangible assets

Land and buildings
£

Short leasehold land and buildings
£

Plant and machinery
£

Motor vehicles
 £

Cost or valuation

At 1 September 2023

-

222,582

1,522,155

97,918

Additions

106,505

22,040

11,790

61,504

At 31 August 2024

106,505

244,622

1,533,945

159,422

Depreciation

At 1 September 2023

-

141,510

1,308,394

78,239

Charge for the year

-

43,651

63,288

20,295

At 31 August 2024

-

185,161

1,371,682

98,534

Carrying amount

At 31 August 2024

106,505

59,461

162,263

60,888

At 31 August 2023

-

81,072

213,761

19,679

 

Neil Corbould Special Effects Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

Total
£

Cost or valuation

At 1 September 2023

1,842,655

Additions

201,839

At 31 August 2024

2,044,494

Depreciation

At 1 September 2023

1,528,143

Charge for the year

127,234

At 31 August 2024

1,655,377

Carrying amount

At 31 August 2024

389,117

At 31 August 2023

314,512

 

Neil Corbould Special Effects Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

5

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

200

200

200

200