Company Registration No. 02695415 (England and Wales)
HARDCASH PRODUCTIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2019
PAGES FOR FILING WITH REGISTRAR
HARDCASH PRODUCTIONS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
HARDCASH PRODUCTIONS LIMITED (REGISTERED NUMBER: 02695415)
BALANCE SHEET
AS AT
31 AUGUST 2019
31 August 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,110
9,885
Current assets
Stocks
253,463
355,782
Debtors
4
24,033
41,891
Cash at bank and in hand
91,119
54,665
368,615
452,338
Creditors: amounts falling due within one year
5
(306,172)
(417,227)
Net current assets
62,443
35,111
Total assets less current liabilities
66,553
44,996
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
66,453
44,896
Total equity
66,553
44,996
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 August 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 18 May 2020 and are signed on its behalf by:
Ms L S Bonner
Director
HARDCASH PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2019
- 2 -
1
Accounting policies
Company information
Hardcash Productions Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
5th Floor, 34 Threadneedle Street, London, EC2R 8AY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £
1
.
1.2
Turnover
Turnover represents net invoiced sales of good and services, excluding value added tax.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
25% reducing balance
Fixtures, fittings & equipment
25% on cost
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
HARDCASH PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2019
1
Accounting policies
(Continued)
- 3 -
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.7
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 3(2018 - 3).
3
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 September 2018
5,125
37,480
21,660
64,265
Disposals
-
-
(21,660)
(21,660)
At 31 August 2019
5,125
37,480
-
42,605
Depreciation and impairment
At 1 September 2018
2,695
31,651
20,034
54,380
Depreciation charged in the year
608
3,541
-
4,149
Eliminated in respect of disposals
-
-
(20,034)
(20,034)
At 31 August 2019
3,303
35,192
-
38,495
Carrying amount
At 31 August 2019
1,822
2,288
-
4,110
At 31 August 2018
2,430
5,829
1,626
9,885
HARDCASH PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2019
- 4 -
4
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
11,614
28,970
Other debtors
12,419
12,921
24,033
41,891
5
Creditors: amounts falling due within one year
2019
2018
£
£
Bank loans
-
326,046
Trade creditors
96,267
8,028
Amounts owed to group undertakings
95,988
38,236
Taxation and social security
109,341
37,672
Other creditors
4,576
7,245
306,172
417,227
6
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
98 Ordinary of £1 each
98
98
1 Ordinary A of £1 each
1
1
1 Ordinary B of £1 each
1
1
100
100
7
Related party transactions
At the year end the company owed £95,988 to the parent company During the year the company purchased services totalling £168,000 from the parent company.