Company Registration No. 02695415 (England and Wales)
HARDCASH PRODUCTIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2018
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 2018
31 August 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
3
9,885
10,826
Current assets
Stocks
355,782
147,741
Debtors
4
41,891
54,089
Cash at bank and in hand
54,665
176,044
452,338
377,874
Creditors: amounts falling due within one year
5
(417,227)
(370,654)
Net current assets
35,111
7,220
Total assets less current liabilities
44,996
18,046
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
44,896
17,946
Total equity
44,996
18,046
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 2018 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 29 May 2019 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 2018
- 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 2018
1
Accounting policies
(Continued)
- 3 -
1.6
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(2017 - 3).
3
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 September 2017
4,720
34,169
21,660
60,549
Additions
405
3,311
-
3,716
At 31 August 2018
5,125
37,480
21,660
64,265
Depreciation and impairment
At 1 September 2017
1,952
28,278
19,492
49,722
Depreciation charged in the year
743
3,373
542
4,658
At 31 August 2018
2,695
31,651
20,034
54,380
Carrying amount
At 31 August 2018
2,430
5,829
1,626
9,885
At 31 August 2017
2,767
5,891
2,168
10,826
4
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
28,970
28,391
Corporation tax recoverable
-
6,391
Other debtors
12,921
19,307
41,891
54,089
HARDCASH PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2018
- 4 -
5
Creditors: amounts falling due within one year
2018
2017
£
£
Bank loans and overdrafts
326,046
266,007
Trade creditors
8,028
18,464
Amounts owed to group undertakings
38,236
-
Corporation tax
17,248
23,533
Other taxation and social security
20,424
16,028
Other creditors
7,245
46,622
417,227
370,654
6
Called up share capital
2018
2017
£
£
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 £38,236 to the parent company During the year the company purchased services totalling £49,100 from the parent company.
8
Parent company
The parent company is Hardcash Holdings Ltd. A company registered in England and Wales.