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Registration number: 12974550

Square Pencil Productions Limited

Unaudited Financial Statements

for the Year Ended 31 October 2024

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Square Pencil Productions Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Square Pencil Productions Limited

Company Information

Director

M Rice

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Square Pencil Productions Limited

Statement of Financial Position as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,197

2,172

Current assets

 

Debtors

5

688

12,881

Cash at bank and in hand

 

24,789

59,946

 

25,477

72,827

Creditors: Amounts falling due within one year

6

(5,545)

(18,587)

Net current assets

 

19,932

54,240

Total assets less current liabilities

 

21,129

56,412

Provisions for liabilities

(543)

(543)

Net assets

 

20,586

55,869

Capital and reserves

 

Called up share capital

100

100

Retained earnings

20,486

55,769

Shareholders' funds

 

20,586

55,869

For the financial year 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 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 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The director has elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, section 444.

 

Square Pencil Productions Limited

Statement of Financial Position as at 31 October 2024

Approved and authorised by the director on 12 June 2025
 

.........................................

M Rice

Director

Company registration number: 12974550

 

Square Pencil Productions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 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:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of the provisions of services to the entertainment industry.

2

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.

Going concern

The company made a profit for the year ended 31 October 2024 and had net assets at that date of £20,586 including cash at bank of £24,879. The company continues to trade profitably and has few fixed overheads.

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, returns, rebates and discounts.

The company recognises revenue from script writing and acting services based upon the contractual stage of completion. Turnover from royalties are recognised in the period in which they are earned.

 

Square Pencil Productions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

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

Furniture, fittings and equipment

25% 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.

 

Square Pencil Productions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

3

Staff numbers

The average number of persons employed by the company during the year, was 1 (2023 - 1).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 November 2023

3,903

3,903

At 31 October 2024

3,903

3,903

Depreciation

At 1 November 2023

1,731

1,731

Charge for the year

975

975

At 31 October 2024

2,706

2,706

Carrying amount

At 31 October 2024

1,197

1,197

At 31 October 2023

2,172

2,172

5

Debtors

2024
£

2023
£

Other debtors

688

12,881

688

12,881

 

Square Pencil Productions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Taxation and social security

1,265

13,900

Accruals and deferred income

4,280

4,687

5,545

18,587

7

TRANSACTIONS WITH DIRECTORS

At 31 October 2024 an amount of £156 (2023: £9,631) was due from the director. During the year advances of £45,319 and repayments of £54,999 were made. Interest is payable to the company at 2.25% per annum amounting to £205 (2023: £151) and there are no set repayment terms.

8

Non adjusting events after the financial period

Subsequent to 31 October 2024 dividends amounting to £10,000 were declared and paid.