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Company Registration number: 05226014

Explosive Productions Limited

Annual Report and Unaudited
Financial Statements


for the Year Ended
31 December 2024

 

Explosive Productions Limited

Contents

Pages

Balance sheet

1 to 2

Notes to the financial statements

3 to 9

 

Explosive Productions Limited

Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

195,241

157,461

Current assets

 

Debtors

6

219,875

183,359

Cash at bank and in hand

 

482,206

491,152

 

702,081

674,511

Creditors: Amounts falling due within one year

7

(339,918)

(352,142)

Net current assets

 

362,163

322,369

Total assets less current liabilities

 

557,404

479,830

Creditors: Amounts falling due after more than one year

7

(54,638)

(145,790)

Provisions for liabilities

(12,212)

(6,343)

Net assets

 

490,554

327,697

Capital and reserves

 

Called up share capital

10

10

Retained earnings

490,544

327,687

Shareholders' funds

 

490,554

327,697

 

Explosive Productions Limited

Balance Sheet as at 31 December 2024 (continued)

For the financial year ending 31 December 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Company registration number: 05226014

Approved and authorised by the Board on 19 May 2025 and signed on its behalf by:
 

.........................................
Mr A P Sims
Director

 

Explosive Productions Limited

Notes to the financial statements for the Year Ended 31 December 2024

1

GENERAL INFORMATION

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Units P7 & P8
Kingmoor Park Central
Kingmoor Business Park
Carlisle
CA6 4SD
 

These financial statements were authorised for issue by the Board on 19 May 2025.

2

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 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 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.

The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.

 

Explosive Productions Limited

Notes to the financial statements for the Year Ended 31 December 2024 (continued)

2

ACCOUNTING POLICIES (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.

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 corporation 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 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

Property improvements

10% Straight line

Motor vehicles

25% Reducing balance

 

Explosive Productions Limited

Notes to the financial statements for the Year Ended 31 December 2024 (continued)

2

ACCOUNTING POLICIES (continued)

Equipment

25% Straight line

Fixtures and fittings

25% Straight line

Computer equipment

25% Straight line

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
 

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Explosive Productions Limited

Notes to the financial statements for the Year Ended 31 December 2024 (continued)

2

ACCOUNTING POLICIES (continued)

Financial instruments

Classification
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
 Recognition and measurement
Basic financial instruments are initially recognised at the transaction price.
 Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

3

STAFF NUMBERS

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

4

PROFIT BEFORE TAX

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

50,436

31,768

 

Explosive Productions Limited

Notes to the financial statements for the Year Ended 31 December 2024 (continued)

5

TANGIBLE ASSETS

Property Improvements
£

Fixtures and Fittings
£

Motor Vehicles
£

Computer Equipment
£

Equipment
£

Total
£

Cost or valuation

At 1 January 2024

53,338

9,810

188,200

45,890

345,669

642,907

Additions

-

-

59,346

2,625

48,743

110,714

Disposals

-

-

(56,812)

-

(42,987)

(99,799)

At 31 December 2024

53,338

9,810

190,734

48,515

351,425

653,822

Depreciation

At 1 January 2024

53,338

9,810

77,145

42,656

302,498

485,447

Charge for the year

-

-

31,161

1,885

17,390

50,436

Eliminated on disposal

-

-

(34,314)

-

(42,988)

(77,302)

At 31 December 2024

53,338

9,810

73,992

44,541

276,900

458,581

Carrying amount

At 31 December 2024

-

-

116,742

3,974

74,525

195,241

At 31 December 2023

-

-

111,055

3,234

43,172

157,461

 

Explosive Productions Limited

Notes to the financial statements for the Year Ended 31 December 2024 (continued)

6

DEBTORS

Current

2024
£

2023
£

Trade debtors

197,671

174,860

Prepayments

22,204

8,499

 

219,875

183,359

7

CREDITORS

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

69,853

31,218

Trade creditors

 

18,205

42,629

Taxation and social security

 

106,889

120,729

Accruals and deferred income

 

144,695

129,075

Other creditors

 

276

28,491

 

339,918

352,142


Creditors include bank loans and hire purchase contracts which are secured of £69,853 (2023 - £31,218).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

54,638

145,790

Creditors include bank loans and hire purchase contracts which are secured of £54,638 (2023 - £145,790)

 

Explosive Productions Limited

Notes to the financial statements for the Year Ended 31 December 2024 (continued)

8

LOANS AND BORROWINGS

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

25,000

47,269

Hire purchase contracts

29,638

98,521

54,638

145,790

Current loans and borrowings

2024
£

2023
£

Bank borrowings

20,000

17,731

Hire purchase contracts

49,853

13,487

69,853

31,218