Registration number:
|
Square Pencil Productions Limited
|
|
|
Square Pencil Productions Limited
Contents
|
Company Information |
|
|
Statement of Financial Position |
|
|
Notes to the Unaudited Financial Statements |
Square Pencil Productions Limited
Company Information
|
Director |
M Rice |
|
Registered office |
|
|
Accountants |
|
Square Pencil Productions Limited
Statement of Financial Position as at 31 October 2024
|
Note |
2024 |
2023 |
|
|
Fixed assets |
|||
|
Tangible assets |
|
|
|
|
Current assets |
|||
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Total assets less current liabilities |
|
|
|
|
Provisions for liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
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 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’.
Square Pencil Productions Limited
Statement of Financial Position as at 31 October 2024
Approved and authorised by the
.........................................
M Rice
Director
Company registration number: 12974550
Square Pencil Productions Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 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 provisions of services to the entertainment industry.
|
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
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
|
Staff numbers |
The average number of persons employed by the company during the year, was
|
Tangible assets |
|
Furniture, fittings and equipment |
Total |
|
|
Cost or valuation |
||
|
At 1 November 2023 |
|
|
|
At 31 October 2024 |
|
|
|
Depreciation |
||
|
At 1 November 2023 |
|
|
|
Charge for the year |
|
|
|
At 31 October 2024 |
|
|
|
Carrying amount |
||
|
At 31 October 2024 |
|
|
|
At 31 October 2023 |
|
|
|
Debtors |
|
2024 |
2023 |
|
|
Other debtors |
|
|
|
|
|
Square Pencil Productions Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
|
Creditors |
Creditors: amounts falling due within one year
|
2024 |
2023 |
|
|
Taxation and social security |
|
|
|
Accruals and deferred income |
|
|
|
|
|
|
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.
|
Non adjusting events after the financial period |
Subsequent to 31 October 2024 dividends amounting to £10,000 were declared and paid.