Company registration number:
for the Year Ended
Hot Patootie TV Limited
Contents
Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Hot Patootie TV Limited
(Registration number: 06394090)
Balance Sheet as at 31 October 2016
Note |
2016 |
2015 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Deferred tax liabilities |
(292) |
(389) |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss reserve |
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Total equity |
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For the financial year ending 31 October 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The option not to file the profit and loss account and directors’ report has been taken.
Approved and authorised by the
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Page 1
Hot Patootie TV Limited
Statement of Changes in Equity
for the Year Ended 31 October 2016
Share capital |
Profit and loss reserve |
Total |
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At 1 November 2015 |
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Movement in year : |
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Profit for the year |
- |
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Total comprehensive income |
- |
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Dividends |
- |
( |
( |
Total movement for the year |
- |
(5,571) |
(5,571) |
At 31 October 2016 |
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|
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Share capital |
Profit and loss reserve |
Total |
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At 1 November 2014 |
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Movement in year : |
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Profit for the year |
- |
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Total comprehensive income |
- |
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Dividends |
- |
( |
( |
Total movement for the year |
- |
(60,426) |
(60,426) |
At 31 October 2015 |
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Page 2
Hot Patootie TV Limited
Notes to the Financial Statements
for the Year Ended 31 October 2016
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 place of business is:
46 Boulevard
Weston-super-Mare
North Somerset
BS23 1NF
Accounting policies |
Summary of significant accounting policies and key accounting estimates
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.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements are presented in Sterling (£) and have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Turnover recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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 when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tangible assets
Tangible assets are stated at cost, less accumulated depreciation and accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Page 3
Hot Patootie TV Limited
Notes to the Financial Statements
for the Year Ended 31 October 2016
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 |
Computer equipment |
25% on reducing balance |
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.
Debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Reserves
Called up share capital represents the nominal value of shares that have been issued.
Profit and loss account includes all current and prior period profits and losses.
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.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Page 4
Hot Patootie TV Limited
Notes to the Financial Statements
for the Year Ended 31 October 2016
Tangible assets |
Computer equipment |
Total |
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Cost or valuation |
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At 1 November 2015 |
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At 31 October 2016 |
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Depreciation |
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At 1 November 2015 |
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Charge for the year |
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At 31 October 2016 |
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Carrying amount |
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At 31 October 2016 |
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At 31 October 2015 |
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Debtors |
Note |
2016 |
2015 |
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Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Other debtors |
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Total current trade and other debtors |
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Creditors |
Note |
2016 |
2015 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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- |
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Corporation tax |
4,508 |
15,884 |
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Other creditors |
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Page 5
Hot Patootie TV Limited
Notes to the Financial Statements
for the Year Ended 31 October 2016
Dividends |
2016 |
2015 |
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£ |
£ |
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Interim dividend of £
|
23,000 |
131,600 |
Related party transactions |
Transactions with directors |
2016 |
At 1 November 2015 |
Advances to directors |
Re- payments by director |
Other payments made to company by director |
Written off |
Waived |
At 31 October 2016 |
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Mrs Dawn O'Porter |
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Interest free loan with no fixed terms for repayment |
22,549 |
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( |
- |
- |
- |
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2015 |
At 1 November 2014 |
Advances to directors |
Re- payments by director |
Other payments made to company by director |
Written off |
Waived |
At 31 October 2015 |
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Mrs Dawn O'Porter |
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Interest free loan with no fixed terms for repayment |
131,527 |
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( |
- |
- |
- |
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Page 6
Hot Patootie TV Limited
Notes to the Financial Statements
for the Year Ended 31 October 2016
Directors' remuneration
The director's remuneration for the year was as follows:
2016 |
2015 |
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Remuneration |
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Summary of transactions with other related parties
As at 31 October 2016 an amount of £100,000 was owed to Hot Cod Productions Limited, a company in which the directors husband is a shareholder.
Page 7