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Unaudited Financial Statements for the Year Ended 30 September 2019 |
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Sanctuary Management Productions Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 30 September 2019 |
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for |
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Sanctuary Management Productions Limited |
Sanctuary Management Productions Limited (Registered number: 01588892) |
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Contents of the Financial Statements |
for the Year Ended 30 September 2019 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Sanctuary Management Productions Limited |
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Company Information |
for the Year Ended 30 September 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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Sanctuary Management Productions Limited (Registered number: 01588892) |
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Balance Sheet |
30 September 2019 |
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30.9.19 | 30.9.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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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. |
Sanctuary Management Productions Limited (Registered number: 01588892) |
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Balance Sheet - continued |
30 September 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Sanctuary Management Productions Limited (Registered number: 01588892) |
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Notes to the Financial Statements |
for the Year Ended 30 September 2019 |
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1. | STATUTORY INFORMATION |
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Sanctuary Management Productions Limited is a
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registered in England and Wales. The company's registered number and registered office |
address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable and |
represents amounts receivable for goods and services rendered, stated net of discounts and |
of Value Added Tax. |
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When cash inflows are deferred and represent a financing arrangement, the fair value of the |
consideration is the present value of the future receipts. The difference between the fair |
value of the consideration and the normal amount received is recognised as interest |
income. |
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Turnover comprises income from copyright royalties recognised when received or when |
contractually receivable when the quantum of the receipt is known and there is a reasonable |
expectation that payment will be received. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Sanctuary Management Productions Limited (Registered number: 01588892) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
The company only enters into basic financial instruments transactions that result in the |
recognition of financial assets and liabilities like trade and other accounts receivable and |
payable, loans from banks and other third parties, loans to related parties and other third |
parties and investments in non-puttable ordinary shares. |
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Financial assets that are measured at cost and amortised cost are assessed at the end of |
each reporting period for objective evidence of impairment. If objective evidence of |
impairment is found, an impairment loss is recognised in profit or loss. |
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For financial assets measured at amortised cost, the impairment loss is measured as the |
difference between an asset's carrying amount and the present value of estimated cash |
flows discounted at the asset's original effective interest rate. If a financial asset has a |
variable interest rate, the discount rate for measuring any impairment loss is the current |
effective interest rate determined under the contract. |
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For financial assets measured at cost less impairment, the impairment loss is measured as |
the difference between an asset's carrying amount and the best estimate, which is an |
approximation, of the amount that the company would receive for the asset if it were to be |
sold at the reporting date. |
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Financial assets and liabilities are offset and the net amount reported in the statement of |
financial position when there is an enforceable right to set off the recognised amounts and |
there is an intention to settle on a net basis or to realise the asset and settle the liability |
simultaneously. |
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Debtors: |
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Short term debtors, classified as receivable in one year, are measured at transaction price, |
less any impairment. |
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Creditors: |
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Short term trade creditors, classified as payable in one year, are measured at the |
transaction price. |
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Cash at bank and in hand: |
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Cash at bank and in hand are basic financial assets and include cash in hand, despoils held |
at call with banks, other short-term liquid investments with original maturities of three months |
or less, and bank overdrafts. Bank overdrafts are shown within borrowings under current |
liabilities. |
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Sanctuary Management Productions Limited (Registered number: 01588892) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2019 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not |
reversed at the balance sheet date. |
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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. |
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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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of |
exchange ruling at the balance sheet date. Transactions in foreign currencies are translated |
into sterling at the rate of exchange ruling at the date of transaction. Exchange differences |
are taken into account in arriving at the operating result. |
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Impairement of fixed assets |
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, |
property and equipment, are reviewed to determine whether there is an indication that an |
asset may be impaired. If there is an indication of possible impairment, the recoverable |
amount of any asset or group of related assets, which is the higher of value in use and the |
fair value less cost to sell, is estimated and compared with its carrying amount. If the |
recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable |
amount and an impairment loss is recognised immediately in profit or loss. |
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Inventories are also assessed for impairment at each reporting date. The carrying amount of |
each item of inventory, or group of similar items, is compared with its selling price less costs |
to complete and sell. If an item of inventory or group of similar items is impaired, its carrying |
amount is reduced to selling price less costs to complete and sell, and an impairment loss is |
recognised immediately in profit or loss. |
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If an impairment loss is subsequently reversed, the carrying amount of the asset or group of |
elated assets is increased to the revised estimate of its recoverable amount, but not to |
exceed the amount that would have been determined had no impairment loss been |
recognised for the asset or group of related assets in prior periods. A reversal of an |
impairment loss is recognised immediately in profit or loss. |
Sanctuary Management Productions Limited (Registered number: 01588892) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Cash flow statement |
The directors have taken advantage of the exemption from including a cash flow statement |
in the financial statements on the grounds that the company is small. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2018 - NIL). |
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4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 October 2018 |
and 30 September 2019 |
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NET BOOK VALUE |
At 30 September 2019 |
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At 30 September 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.19 | 30.9.18 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Amounts owed by associates |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.19 | 30.9.18 |
£ | £ |
Trade creditors |
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Amounts owed to associates | 10,149 | 8,146 |
Taxation and social security |
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Other creditors |
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7. | RELATED PARTY DISCLOSURES |
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The company has taken advantage of exemption, under the terms of Financial Reporting |
Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of |
Ireland', not to disclose related party transactions with wholly owned subsidiaries within the |
group. |
Sanctuary Management Productions Limited (Registered number: 01588892) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2019 |
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7. | RELATED PARTY DISCLOSURES - continued |
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Phantom Music Management Ltd |
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An associated company. |
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At the balance sheet date Phantom Music Management Ltd owes the company £626,399 |
(2018: £459,412). £39,000 (2018: £39,000) of this amount relates to a loan which is |
classified as a current debtor and is repayable on demand, no interest is charged on the |
amount. The remaining balance is classified as trade debtors, and are conducted under |
normal market conditions. |
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Geales Restaurant Ltd |
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A company in which AJ Taylor and R C Smallwood have significant control. |
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As at the balance sheet date there is a loan balance of £200,000 due from Geales |
Restaurant Ltd (2018: £200,000). The amount is classified as a current debtor and is |
repayable on demand, no interest is charged on the amount. |
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8. | ULTIMATE CONTROLLING PARTY |
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Control is shared equally between R C Smallwood and A J Taylor by way of share |
ownership. |