Company registration number 4113164 (England and Wales)
LA PRODUCTIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
LA PRODUCTIONS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
LA PRODUCTIONS LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
206,225
187,474
Investments
5
707,630
707,630
913,855
895,104
Current assets
Debtors
6
1,641,339
1,333,502
Cash at bank and in hand
63
79,985
1,641,402
1,413,487
Creditors: amounts falling due within one year
7
(265,460)
(160,878)
Net current assets
1,375,942
1,252,609
Total assets less current liabilities
2,289,797
2,147,713
Creditors: amounts falling due after more than one year
8
(5,216)
Provisions for liabilities
(539)
(539)
Net assets
2,284,042
2,147,174
Capital and reserves
Called up share capital
204
204
Profit and loss reserves
2,283,838
2,146,970
Total equity
2,284,042
2,147,174
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
LA PRODUCTIONS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 26 March 2025
Mr CJ P McKeown
Director
Company registration number 4113164 (England and Wales)
LA PRODUCTIONS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024
30 September 2024
- 3 -
1
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
2
Accounting policies
Company information
LA Productions Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5th Floor, Walker House, Exchange Flags, Liverpool, Merseyside, United Kingdom, L2 3YL.
2.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
2.2
Turnover
Turnover represents net invoiced sales of services, excluding value added tax, adjusted for contracts for services that are accounted for as long-term contracts.
Production turnover is recognised gradually over time, as production activity progresses to reflect the Company's partial performance of its contractual obligations by reference to the value of work actually performed.
2.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Improvements to property
10% on cost
Office equipment
25% on cost
Website development
25% on cost
Motor vehicles
25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
2.4
Fixed asset investments
Investments in subsidiary undertakings are recognised at cost.
LA PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2
Accounting policies
(Continued)
- 4 -
2.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2.6
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2.7
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2.8
Contracts for production services are accounted for as long-term contracts.
Long-term contracts are assessed on a contract-by-contract basis and reflected in the profit and loss account by recording turnover and related costs as contract activity progresses.
Where it is considered that the outcome of a long-term contract can be assessed with reasonable certainty before its conclusion, the attributable profit or loss shall be recognised immediately.
LA PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
19
17
4
Tangible fixed assets
Improvements to property
Office equipment
Website development
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 October 2023
118,265
426,646
8,500
91,075
644,486
Additions
30,858
36,180
13,375
80,413
At 30 September 2024
149,123
462,826
8,500
104,450
724,899
Depreciation and impairment
At 1 October 2023
54,110
313,774
8,500
80,628
457,012
Depreciation charged in the year
19,558
37,263
4,841
61,662
At 30 September 2024
73,668
351,037
8,500
85,469
518,674
Carrying amount
At 30 September 2024
75,455
111,789
18,981
206,225
At 30 September 2023
64,155
112,872
10,447
187,474
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
707,630
707,630
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
120,241
27,132
Other debtors
1,356,937
1,306,370
Prepayments and accrued income
164,161
1,641,339
1,333,502
LA PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
74,530
Obligations under finance leases
3,145
Trade creditors
90,531
87,875
Taxation and social security
61,461
26,093
Other creditors
27,573
37,960
Accruals and deferred income
8,220
8,950
265,460
160,878
8
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Obligations under finance leases
5,216