L & G Productions Limited Company Accounts

L & G Productions Limited Company Accounts

L & G PRODUCTIONS LIMITED - Company Information

Print Friendly Version

false false false false false false false false false true false false false false false false false No description of principal activity 2016-01-01 Sage Accounts Production Advanced 2017 Update 2 - FRS 11,854,865 11,854,864 1 xbrli:pure xbrli:shares iso4217:GBP 03897273 2016-01-01 2016-12-31 03897273 2016-12-31 03897273 2015-12-31 03897273 bus:LeadAgentIfApplicable 2016-01-01 2016-12-31 03897273 bus:Director3 2016-01-01 2016-12-31 03897273 core:LandBuildings 2016-12-31 03897273 core:WithinOneYear 2016-12-31 03897273 core:WithinOneYear 2015-12-31 03897273 core:ShareCapital 2016-12-31 03897273 core:ShareCapital 2015-12-31 03897273 core:RetainedEarningsAccumulatedLosses 2016-12-31 03897273 core:RetainedEarningsAccumulatedLosses 2015-12-31 03897273 bus:FRS102 2016-01-01 2016-12-31 03897273 bus:AuditExemptWithAccountantsReport 2016-01-01 2016-12-31 03897273 bus:FullAccounts 2016-01-01 2016-12-31 03897273 bus:SmallCompaniesRegimeForAccounts 2016-01-01 2016-12-31 03897273 bus:PrivateLimitedCompanyLtd 2016-01-01 2016-12-31
COMPANY REGISTRATION NUMBER: 03897273
L & G Productions Limited
Filleted Unaudited Financial Statements
31 December 2016
L & G Productions Limited
Financial Statements
Year ended 31 December 2016
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
The following pages do not form part of the financial statements
Report to the board of directors on the preparation of the unaudited statutory financial statements
5
L & G Productions Limited
Statement of Financial Position
31 December 2016
2016
2015
Note
£
£
£
Fixed assets
Tangible assets
4
1
1
Current assets
Cash at bank and in hand
3,165
4,850
Creditors: amounts falling due within one year
6
22,790
24,403
--------
--------
Net current liabilities
19,625
19,553
--------
--------
Total assets less current liabilities
( 19,624)
( 19,552)
--------
--------
Net liabilities
( 19,624)
( 19,552)
--------
--------
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 19,626)
( 19,554)
--------
--------
Members deficit
( 19,624)
( 19,552)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2016 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 financial statements were approved by the board of directors and authorised for issue on 31 August 2017 , and are signed on behalf of the board by:
Mr. E. H. Senat
Director
Company registration number: 03897273
L & G Productions Limited
Notes to the Financial Statements
Year ended 31 December 2016
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 99 Kenton Road, Kenton, Harrow, Middlesex, HA3 0AN.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 January 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.
Depreciation
Tangible fixed asset is stated at cost less depreciation. Depreciation is provided in accordance with the cost recovery method whereby depreciation is taken to the profit and loss account on the same basis as the income receivable in the accounting period.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Tangible assets
Land and buildings
£
Cost
At 1 January 2016 and 31 December 2016
11,854,865
-------------
Depreciation
At 1 January 2016 and 31 December 2016
11,854,864
-------------
Carrying amount
At 31 December 2016
1
-------------
The film assets are held under finance leases.
5. Lease agreement
A secured bank deposit has been held and ring fenced to cover lease payments, such that the principal on deposit will be sufficient to cover the repayment and interest obligations of the lease agreement.
The bank deposit is only to be used to settle the lease liability and cannot be accessed by the company, therefore, neither the deposit nor the lease obligations represent a separate asset or liability of the company and have been excluded from the accounts.
6. Creditors: amounts falling due within one year
2016
2015
£
£
Other creditors
22,790
24,403
--------
--------
Other creditors are repayable only from the income derived from the feature film "And Now...Ladies and Gentlemen". These creditors do not have any recourse to any other assets of the company.
7. Related party transactions
The company was under the control of Mr E. H. Senat during the year. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard for Smaller Entities.
8. Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 January 2015.
No transitional adjustments were required in equity or profit or loss for the year.
L & G Productions Limited
Management Information
Year ended 31 December 2016
The following pages do not form part of the financial statements.
L & G Productions Limited
Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of L & G Productions Limited
Year ended 31 December 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of L & G Productions Limited for the year ended 31 December 2016, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
MALDE & CO Chartered Certified Accountants
99 Kenton Road Kenton Harrow Middlesex HA3 0AN
31 August 2017