Pasa Entertainment Ltd - Limited company accounts 11.7

REGISTERED NUMBER: 08392025 (England and Wales)

PASA ENTERTAINMENT LTD

REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2015

Page

Company Information

1

Report of the Director

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

P Mustafa

REGISTERED OFFICE:

Flat 51

Welshpool House

Welshpool Street

LONDON

E8 4PE

REGISTERED NUMBER:

08392025 (England and Wales)

ACCOUNTANTS:

Brinds Limited

9 Highlands Close

CROWBOROUGH

East Sussex

TN6 1BE

The director presents his report with the financial statements of the company for the year ended 28 February 2015.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of TV Production.

DIRECTOR

P Mustafa held office during the whole of the period from 1 March 2014 to the date of this report.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating

to small companies.

ON BEHALF OF THE BOARD:

P Mustafa - Director

13 June 2015

TURNOVER

15,808

144,997

Cost of sales

1,600

12,217

GROSS PROFIT

14,208

132,780

Administrative expenses

17,979

21,378

OPERATING (LOSS)/PROFIT

2

(3,771

)

111,402

Interest receivable and similar income

5

7

(LOSS)/PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION

(3,766

)

111,409

Tax on (loss)/profit on ordinary activities

3

-

21,694

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(3,766

)

89,715

FIXED ASSETS

Tangible assets

5

6,514

6,189

CURRENT ASSETS

Debtors

6

9,863

29,852

Cash at bank

2,400

9,791

12,263

39,643

CREDITORS

Amounts falling due within one year

7

1,327

24,616

NET CURRENT ASSETS

10,936

15,027

TOTAL ASSETS LESS CURRENT LIABILITIES

17,450

21,216

CAPITAL AND RESERVES

Called up share capital

8

1

1

Profit & Loss Account

9

17,449

21,215

SHAREHOLDERS' FUNDS

17,450

21,216

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the director on 13 June 2015 and were signed by:

P Mustafa - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

2.	OPERATING (LOSS)/PROFIT

The operating loss (2014 - operating profit) is stated after charging:

Period

6.2.13

Year Ended

to

28.2.15

28.2.14

£

£

Depreciation - owned assets

1,628

1,390

Director's remuneration and other benefits etc

4,875

8,250

3.

TAXATION

Analysis of the tax charge

The tax charge on the loss on ordinary activities for the year was as follows:

Period

6.2.13

Year Ended

to

28.2.15

28.2.14

£

£

Current tax:

UK corporation tax

-

21,694

Tax on (loss)/profit on ordinary activities

-

21,694

4.

DIVIDENDS

Period

6.2.13

Year Ended

to

28.2.15

28.2.14

£

£

Ordinary share of £1

Final

-

4,000

Interim

-

64,500

-

68,500

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2014

7,579

Additions

1,953

At 28 February 2015

9,532

DEPRECIATION

At 1 March 2014

1,390

Charge for year

1,628

At 28 February 2015

3,018

NET BOOK VALUE

At 28 February 2015

6,514

At 28 February 2014

6,189

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.15

28.2.14

£

£

Trade debtors

-

29,852

Other debtors

9,863

-

9,863

29,852

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.15

28.2.14

£

£

Trade creditors

(1

)

(1

)

Taxation and social security

128

23,069

Other creditors

1,200

1,548

1,327

24,616

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.15

28.2.14

value:

£

£

1

Ordinary

£1

1

1

9.

RESERVES

Profit &

Loss

Account

£

At 1 March 2014

21,215

Deficit for the year

(3,766

)

At 28 February 2015

17,449

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 28 February 2015 and the

period ended 28 February 2014:

28.2.15

28.2.14

£

£

P Mustafa

Balance outstanding at start of year

(348

)

-

Amounts advanced

12,769

3,692

Amounts repaid

(2,558

)

(4,040

)

Balance outstanding at end of year

9,863

(348

)

11.	ULTIMATE CONTROLLING PARTY

The controlling party is P Mustafa.