Company Registration No. SC127480 (Scotland)
20/20 PRODUCTIONS EUROPE LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2014
20/20 PRODUCTIONS EUROPE LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
20/20 PRODUCTIONS EUROPE LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 SEPTEMBER 2014
30 September 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
164,692
149,216
Current assets
Stocks
1,014
1,014
Debtors
208,342
190,028
Cash at bank and in hand
266,875
94,535
476,231
285,577
Creditors: amounts falling due within one year
(160,488)
(76,284)
Net current assets
315,743
209,293
Total assets less current liabilities
480,435
358,509
Creditors: amounts falling due after more than one year
(20,807)
(3,468)
Provisions for liabilities
(16,063)
(9,300)
443,565
345,741
Capital and reserves
Called up share capital
3
10,000
10,000
Profit and loss account
433,565
335,741
Shareholders' funds
443,565
345,741
20/20 PRODUCTIONS EUROPE LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2014
30 September 2014
- 2 -
For the financial year ended 30 September 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
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;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board and authorised for issue on 13 May 2015
Mr Alastair Scott
Director
Company Registration No. SC127480
20/20 PRODUCTIONS EUROPE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2014
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently.
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Leasehold
10% Straight Line
Fixtures, fittings & equipment
20% Reducing Balance
1.5
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.6
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
20/20 PRODUCTIONS EUROPE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2014
- 4 -
2
Fixed assets
Tangible assets
£
Cost
At 1 October 2013
519,657
Additions
53,156
At 30 September 2014
572,813
Depreciation
At 1 October 2013
370,441
Charge for the year
37,680
At 30 September 2014
408,121
Net book value
At 30 September 2014
164,692
At 30 September 2013
149,216
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
10,000 Ordinary of £1 each
10,000
10,000