NL Productions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC493943 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2020

for

NL Productions Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

P M O'Halloran

C Cuthbert

REGISTERED OFFICE:

1 Rutland Court

Edinburgh

EH3 8EY

REGISTERED NUMBER:

SC493943 (Scotland)

ACCOUNTANTS:

Anderson Ballantine

Hudson House

8 Albany Street

Edinburgh

EH1 3QB

FIXED ASSETS

Tangible assets

4

110,263

171,355

CURRENT ASSETS

Debtors

5

267,310

112,654

Cash at bank and in hand

10,108

60,132

277,418

172,786

CREDITORS

Amounts falling due within one year

6

228,903

271,523

NET CURRENT ASSETS/(LIABILITIES)

48,515

(98,737

)

TOTAL ASSETS LESS CURRENT LIABILITIES

158,778

72,618

CREDITORS

Amounts falling due after more than one year

7

183,674

70,153

NET (LIABILITIES)/ASSETS

(24,896

)

2,465

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

8

(34,896

)

(7,535

)

SHAREHOLDERS' FUNDS

(24,896

)

2,465

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 June 2021 and were signed on its behalf by:

P M O'Halloran - Director

1.	STATUTORY INFORMATION

NL Productions Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on the going concern basis in light of the assumption explained in note 11.

Turnover

Turnover represents net invoiced sales, excluding Value Added Tax, adjusted to recognise whether or not the company has obtained the right to consideration.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost, 20% on cost and 15% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2019 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2020

378,267

Additions

3,955

At 31 December 2020

382,222

DEPRECIATION

At 1 January 2020

206,912

Charge for year

65,047

At 31 December 2020

271,959

NET BOOK VALUE

At 31 December 2020

110,263

At 31 December 2019

171,355

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade debtors

146,310

85,383

Other debtors

121,000

27,271

267,310

112,654

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Bank loans and overdrafts

19,998

-

Hire purchase contracts

10,039

10,039

Trade creditors

14,353

185,448

Taxation and social security

61,854

48,563

Other creditors

122,659

27,473

228,903

271,523

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.20

31.12.19

£

£

Bank loans

180,002

-

Hire purchase contracts

3,672

10,153

Other creditors

-

60,000

183,674

70,153

8.

RESERVES

Retained

earnings

£

At 1 January 2020

(7,535

)

Deficit for the year

(27,361

)

At 31 December 2020

(34,896

)

9.	OTHER FINANCIAL COMMITMENTS

At 31 December 2020, the company had an annual property rental commitment of £69,470 under a 15 year lease commencing September 2015, with break points after 5 and 10 years, ending September 2030.

10.

COVID 19

As with many companies in Scotland the company faces material uncertainties resulting from the current and future economic impact of the Covid 19 pandemic. These accounts have been prepared on the assumption that the company will overcome these uncertainties and return to profitable operation, with the help and support of its shareholders and lenders.