Registered Number 01818476
EYEPLUGIN PRODUCTIONS LIMITED
Abbreviated Accounts
31 March 2016
Notes | 2016 | 2015 | |
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£ | £ | ||
Called up share capital not paid |
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Fixed assets | |||
Intangible assets |
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Tangible assets | 2 |
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Investments |
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Current assets | |||
Stocks |
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Debtors |
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Investments |
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Cash at bank and in hand |
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Prepayments and accrued income |
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Creditors: amounts falling due within one year |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
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( |
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Provisions for liabilities |
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Accruals and deferred income |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 3 |
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Share premium account |
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Revaluation reserve |
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Other reserves |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Fixtures, fittings and equipment - 15% reducing balance
Motor vehicles - 20% straight line
Computer equipment - 33% straight line
Other accounting policies
All fixed assets are initially recorded at cost.
Work in progress
Work in progress is valued on the basis of direct costs plus attributable overheads
based on normal level of activity. Provision is made for any foreseeable losses where
appropriate. No element of profit is included in the valuation of work in progress.
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under
tangible fixed assets at their fair value. The capital element of the future payments is
treated as a liability and the interest is charged to the profit and loss account on a
straight line basis.
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of
ownership remain with the lessor are charged against profits on a straight line basis
over the period of the lease.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of
exchange ruling at the balance sheet date. Transactions in foreign currencies are
translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of
the contractual arrangements entered into. An equity instrument is any contract that
evidences a residual interest in the assets of the entity after deducting all of its financial
liabilities.
Where the contractual obligations of financial instruments (including share capital) are
equivalent to a similar debt instrument, those financial instruments are classed as
financial liabilities. Financial liabilities are presented as such in the balance sheet.
Finance costs and gains or losses relating to financial liabilities are included in the profit
and loss account. Finance costs are calculated so as to produce a constant rate of
return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the
definition of a financial liability then this is classed as an equity instrument. Dividends
and distributions relating to equity instruments are debited direct to equity.
PRIOR YEAR ADJUSTMENT
During the year the company was made aware that a previously recorded creditor
arising in 2009 for the lending of monies in relation to the production of films and
repayable out of profits from the said films was not considered repayable and as a
result has been released to Income. As the films for which the loans received never
went into production it was considered prudent to recognise the income in the earliest
year available. An amount of £2,098,283 has hence been recorded as a prior year
adjustment. This includes £1,509,585 adjustment to Income and £588,698 adjustment
to Foreign Currency Gains, the comparative figures have been restated accordingly.
£ | |
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Cost | |
At 1 April 2015 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 March 2016 |
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Depreciation | |
At 1 April 2015 |
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Charge for the year |
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On disposals |
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At 31 March 2016 |
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Net book values | |
At 31 March 2016 | 15,645 |
At 31 March 2015 | 29,019 |
4 Transactions with directors
Name of director receiving advance or credit: |
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Description of the transaction: |
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Balance at 1 April 2015: | £ |
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Advances or credits made: | £ |
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Advances or credits repaid: | £ |
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Balance at 31 March 2016: | £ |