Company registration number 03660011 (England and Wales)
ELBOW PRODUCTIONS LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
ELBOW PRODUCTIONS LTD
CONTENTS
Page
Directors' report
1
Accountants' report
2
Balance sheet
3 - 4
Notes to the financial statements
5 - 7
ELBOW PRODUCTIONS LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 OCTOBER 2024
- 1 -

The directors present their annual report and financial statements for the year ended 30 October 2024.

Principal activities

The principal activity of the company continued to be that of film and video production and related activity.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

J Lower
L Reed
Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
J Lower
L Reed
Director
Director
28 July 2025
ELBOW PRODUCTIONS LTD
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ELBOW PRODUCTIONS LTD FOR THE YEAR ENDED 30 OCTOBER 2024
- 2 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Elbow Productions Ltd for the year ended 30 October 2024 set out on pages 3 to 7 from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Elbow Productions Ltd, as a body, in accordance with the terms of our engagement letter dated 15 July 2025. Our work has been undertaken solely to prepare for your approval the financial statements of Elbow Productions Ltd and state those matters that we have agreed to state to the board of directors of Elbow Productions Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Elbow Productions Ltd and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Elbow Productions Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Elbow Productions Ltd. You consider that Elbow Productions Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Elbow Productions Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Goldblatts
Chartered Accountants
4th Floor
4 Tabernacle Street
London
EC2A 4LU
28 July 2025
ELBOW PRODUCTIONS LTD
BALANCE SHEET
AS AT 30 OCTOBER 2024
30 October 2024
- 3 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
16,002
18,843
Current assets
Stocks
45,250
-
Debtors
4
9,758
23,000
Cash at bank and in hand
30,619
42,272
85,627
65,272
Creditors: amounts falling due within one year
5
(70,240)
(50,552)
Net current assets
15,387
14,720
Total assets less current liabilities
31,389
33,563
Creditors: amounts falling due after more than one year
6
(5,833)
(15,833)
Provisions for liabilities
(4,001)
(4,757)
Net assets
21,555
12,973
Capital and reserves
Called up share capital
100
100
Share premium account
960
960
Profit and loss reserves
20,495
11,913
Total equity
21,555
12,973
ELBOW PRODUCTIONS LTD
BALANCE SHEET (CONTINUED)
AS AT 30 OCTOBER 2024
30 October 2024
- 4 -

For the financial year ended 30 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 28 July 2025 and are signed on its behalf by:
J Lower
L Reed
Director
Director
Company registration number 03660011 (England and Wales)
ELBOW PRODUCTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 OCTOBER 2024
- 5 -
1
Accounting policies
Company information

Elbow Productions Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 4th Floor, 4 Tabernacle Street, London, EC2A 4LU.

1.1
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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for services in the film and video industry, and is shown net of VAT and other sales related taxes.

1.3
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:

Plant and machinery
25% reducing balance method
Computer equipment
20% straight line
Motor vehicles
25% reducing balance method

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.

1.4
Stocks

Stocks and work in progress are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

ELBOW PRODUCTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 OCTOBER 2024
1
Accounting policies
(Continued)
- 6 -
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.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
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
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
ELBOW PRODUCTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 OCTOBER 2024
- 7 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 31 October 2023 and 30 October 2024
220,063
Depreciation and impairment
At 31 October 2023
201,220
Depreciation charged in the year
2,841
At 30 October 2024
204,061
Carrying amount
At 30 October 2024
16,002
At 30 October 2023
18,843
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
7,288
20,187
Other debtors
2,470
2,813
9,758
23,000
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,000
10,000
Trade creditors
10,890
4,345
Taxation and social security
12,107
5,991
Other creditors
37,243
30,216
70,240
50,552
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
5,833
15,833
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