4th Wall Productions Limited Company Accounts

4TH WALL PRODUCTIONS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09216999

4th Wall Productions Limited

Filleted Unaudited Financial Statements

31 August 2017

4th Wall Productions Limited

Financial Statements

Year ended 31 August 2017

Contents	Page

Officers and professional advisers	1

Balance sheet	2

Notes to the financial statements	4

4th Wall Productions Limited

Officers and Professional Advisers

The board of directors	Mr B Archard
	Mrs C Archard

Registered office	Skyview House
	10 St Neots Road
	Sandy
	Bedfordshire
	England
	SG19 1LB

Accountants	The Blue Skies Partnership
	Chartered Management Accountants
	Skyview House
	10 St Neots Road
	Sandy
	Bedfordshire
	SG19 1LB

Bankers	HSBC (Midland)
	105 Mount Pleasant
	Tunbridge Wells
	Kent
	England
	TN1 1QP

4th Wall Productions Limited

Balance Sheet

31 August 2017

	2017		2016
Note	£	£	£

Fixed assets

Tangible assets	5		17,243	24,351

Current assets

Debtors	6	9,089	7,724
Cash at bank and in hand		14,639	14,409
		--------	--------
		23,728	22,133

Creditors: amounts falling due within one year	7	37,301		23,668
		--------		--------
Net current liabilities			13,573	1,535
			--------	--------
Total assets less current liabilities			3,670	22,816

Creditors: amounts falling due after more than one year	8		–	17,584

Provisions

Taxation including deferred tax	3,449	4,870
	-------	--------
Net assets	221	362
	-------	--------

Capital and reserves

Called up share capital	10	10
Profit and loss account	211	352
	----	----
Members funds	221	362
	----	----

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 profit and loss account has not been delivered.

For the year ending 31 August 2017 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 .

4th Wall Productions Limited

Balance Sheet (continued)

31 August 2017

These financial statements were approved by the board of directors and authorised for issue on 31 January 2018 , and are signed on behalf of the board by:

Mr B Archard	Mrs C Archard
Director	Director

Company registration number: 09216999

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

4th Wall Productions Limited

Notes to the Financial Statements

Year ended 31 August 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Skyview House, 10 St Neots Road, Sandy, Bedfordshire, England, SG19 1LB.

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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102 and as such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) Disclosures in respect of share-based payments have not been presented. (e) No disclosure has been given for the aggregate remuneration of key management personnel.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. During the period in questions, apart from those involving estimations, the management has made no judgements or uncertain policy, within the process of applying the entity's accounting policies.

Revenue recognition

Turnover represents fees received for work done during the year, excluding value added tax. Fee income represents revenue earned under a wide variety of contracts to provide television and media services. Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to customers, including expenses and disbursements but excluding value added tax. Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors. Payments on account in excess of the relevant amount of revenue are included in creditors. Fee income that is contingent on events outside the control of the firm is recognised when the contingent event occurs.

Taxation

Taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. During the period in review, no assets were revalued, meaning no change in the carrying amount of an asset.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Bicycle	-	25% straight line
Motor vehicles	-	25% straight line
Office equipment	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing within these accounts, there have been no impairments in this period.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2016: 2 ).

5. Tangible assets

	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 September 2016	970	31,670	2,124	34,764
Additions	–	–	2,968	2,968
Disposals	–	–	( 1,200)	( 1,200)
	----	--------	-------	--------
At 31 August 2017	970	31,670	3,892	36,532
	----	--------	-------	--------
Depreciation
At 1 September 2016	40	9,897	476	10,413
Charge for the year	243	7,917	550	8,710
Disposals	–	–	166	166
	----	--------	-------	--------
At 31 August 2017	283	17,814	1,192	19,289
	----	--------	-------	--------
Carrying amount
At 31 August 2017	687	13,856	2,700	17,243
	----	--------	-------	--------
At 31 August 2016	930	21,773	1,648	24,351
	----	--------	-------	--------

6. Debtors

	2017	2016
	£	£
Trade debtors	–	5,088
Other debtors	9,089	2,636
	-------	-------
	9,089	7,724
	-------	-------

7. Creditors: amounts falling due within one year

	2017	2016
	£	£
Trade creditors	( 54)	–
Corporation tax	10,879	10,186
Social security and other taxes	5,490	5,925
Other creditors	20,986	7,557
	--------	--------
	37,301	23,668
	--------	--------

8. Creditors: amounts falling due after more than one year

	2017	2016
	£	£
Other creditors	–	17,584
	----	--------

9. Directors' advances, credits and guarantees

Amounts of £33,605 (2016: £30,713) were advanced interest free, and repayable on demand, by the directors during the year. At the year end, £9,089 (2016: £1,840) was owed to the company by the directors.