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Registered number: 14946252
Clay Productions Live Limited
Unaudited Financial Statements
For The Year Ended 30 June 2025
TAB Accountancy Limited
1 Hardy Close
Felpham
Bognor Regis
West Sussex
PO22 6QX
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—4
Page 1
Statement of Financial Position
Registered number: 14946252
30 June 2025 30 June 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,000 4,000
Tangible Assets 5 6,239 4,689
9,239 8,689
CURRENT ASSETS
Debtors 6 8,590 2,948
Cash at bank and in hand 11,324 85,252
19,914 88,200
Creditors: Amounts Falling Due Within One Year 7 (20,012 ) (86,981 )
NET CURRENT ASSETS (LIABILITIES) (98 ) 1,219
TOTAL ASSETS LESS CURRENT LIABILITIES 9,141 9,908
NET ASSETS 9,141 9,908
CAPITAL AND RESERVES
Called up share capital 8 101 101
Income Statement 9,040 9,807
SHAREHOLDERS' FUNDS 9,141 9,908
For the year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr David Gregory
Director
25/07/2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Clay Productions Live Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14946252 . The registered office is 101 Bathurst Gardens, London, NW10 5JJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income statement over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing balance
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
Page 2
Page 3
4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2024 5,000
As at 30 June 2025 5,000
Amortisation
As at 1 July 2024 1,000
Provided during the period 1,000
As at 30 June 2025 2,000
Net Book Value
As at 30 June 2025 3,000
As at 1 July 2024 4,000
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 July 2024 6,252
Additions 3,630
As at 30 June 2025 9,882
Depreciation
As at 1 July 2024 1,563
Provided during the period 2,080
As at 30 June 2025 3,643
Net Book Value
As at 30 June 2025 6,239
As at 1 July 2024 4,689
6. Debtors
30 June 2025 30 June 2024
£ £
Due within one year
Trade debtors 6,856 2,286
Other debtors 1,734 662
8,590 2,948
7. Creditors: Amounts Falling Due Within One Year
30 June 2025 30 June 2024
£ £
Other creditors 15,727 52,876
Taxation and social security 4,285 34,105
20,012 86,981
Page 3
Page 4
8. Share Capital
30 June 2025 30 June 2024
£ £
Allotted, Called up and fully paid 101 101
Page 4