Company Registration No. 02226367 (England and Wales)
I Q STUDIO PRODUCTIONS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
I Q STUDIO PRODUCTIONS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
I Q STUDIO PRODUCTIONS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
766
1,618
Current assets
Debtors
19,723
35,430
Cash at bank and in hand
159,988
89,562
179,711
124,992
Creditors: amounts falling due within one year
(97,649)
(34,056)
Net current assets
82,062
90,936
Total assets less current liabilities
82,828
92,554
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
82,826
92,552
Shareholders' funds
82,828
92,554
For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his 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 for issue on 30 October 2015
S N Jolley
Director
Company Registration No. 02226367
I Q STUDIO PRODUCTIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 2 -
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 (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for royalties net of VAT.
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:
Fixtures, fittings & equipment
25% straight line
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2014 & at 31 March 2015
149,793
Depreciation
At 1 April 2014
148,175
Charge for the year
852
At 31 March 2015
149,027
Net book value
At 31 March 2015
766
At 31 March 2014
1,618
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2
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