Registration number:
for the Year Ended
Richard Smith Video Productions Limited
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Richard Smith Video Productions Limited
Company Information
Director |
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Registered office |
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Accountants |
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Richard Smith Video Productions Limited
Director's Report for the Year Ended 31 March 2015
The director presents his report and the unaudited financial statements for the year ended 31 March 2015.
Director of the company
The
director
who held office during the
year
was
as follows:
Mr R Smith
Change of name of the Company
With effect from 19 June 2014, the name of the Company was changed from Take 3 Productions Ltd to Richard Smith Video Productions Limited.
Small company provisions
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
Approved by the Board on
.........................................
Mr Richard Smith
Director
Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Richard Smith Video Productions Limited
for the Year Ended 31 March 2015
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Richard Smith Video Productions Limited for the year ended 31 March 2015 set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW) , we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook .
This report is made solely to the Board of Directors of Richard Smith Video Productions Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Richard Smith Video Productions Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Richard Smith Video Productions Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Richard Smith Video Productions Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Richard Smith Video Productions Limited. You consider that Richard Smith Video Productions Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Richard Smith Video Productions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Metric Accountants Ltd
The Media Village
131-151 Great Titchfield Street
London
W1W 5BB
18 December 2015
Richard Smith Video Productions Limited
Profit and Loss Account for the Year Ended 31 March 2015
Note |
2015
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2014
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Operating loss |
( |
( |
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Loss on disposal of fixed assets |
( |
- |
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Profit on sale or termination of operations |
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- |
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Non-operating exceptional items |
( |
- |
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Other interest receivable and similar income |
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- |
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Loss on ordinary activities before taxation |
( |
( |
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Tax on loss on ordinary activities |
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Loss for the financial year |
( |
( |
4
Richard Smith Video Productions Limited
(Registration number: 02732223)
Balance Sheet at 31 March 2015
Note |
2015
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2014
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Fixed assets |
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Tangible fixed assets |
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Current assets |
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Stocks |
- |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
- |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Capital redemption reserve |
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Profit and loss account |
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Shareholders' funds |
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Approved and authorised for issue by the director on
5
Richard Smith Video Productions Limited
(Registration number: 02732223)
Balance Sheet at 31 March 2015
......... continued
.........................................
Mr Richard Smith
Director
6
Richard Smith Video Productions Limited
Notes to the Financial Statements for the Year Ended 31 March 2015
......... continued
Accounting policies |
Basis of preparation
Turnover
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
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Leasehold improvements |
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Deferred tax
Operating loss |
Operating loss is stated after charging:
2015
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2014
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Depreciation of tangible fixed assets |
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Richard Smith Video Productions Limited
Notes to the Financial Statements for the Year Ended 31 March 2015
......... continued
Exceptional items |
2015
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2014
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(Profit) / loss on sale of fixed assets |
10,086 |
- |
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(Profit) / loss on termination of operation |
(9,708) |
- |
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- |
On the 18th of June 2014 the Company sold: goodwill, fixed assets, contracts, intellectual property and work in progress for the total value of £31,557.80, representing the majority of the Company's trade.
Director's remuneration |
The director's remuneration for the year was as follows:
2015
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2014
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Remuneration |
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Taxation |
Tax on loss on ordinary activities
2015
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2014
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Current tax |
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Corporation tax credit |
( |
( |
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Deferred tax |
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Origination and reversal of timing differences |
( |
( |
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Total tax on loss on ordinary activities |
( |
( |
Richard Smith Video Productions Limited
Notes to the Financial Statements for the Year Ended 31 March 2015
......... continued
Tangible fixed assets |
Plant and machinery
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Total
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Cost or valuation |
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At 1 April 2014 |
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Additions |
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Disposals |
( |
( |
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At 31 March 2015 |
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Depreciation |
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At 1 April 2014 |
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Charge for the year |
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Eliminated on disposals |
( |
( |
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At 31 March 2015 |
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Net book value |
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At 31 March 2015 |
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At 31 March 2014 |
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Debtors |
2015
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2014
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Trade debtors |
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Other debtors |
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Creditors: Amounts falling due within one year |
2015
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2014
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Trade creditors |
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Other taxes and social security |
- |
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Other creditors |
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Richard Smith Video Productions Limited
Notes to the Financial Statements for the Year Ended 31 March 2015
......... continued
Share capital |
Allotted, called up and fully paid shares
2015 |
2014 |
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No. |
£ |
No. |
£ |
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Dividends |
2015
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2014
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Dividends paid |
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Current year interim dividend paid |
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Recommended final dividend proposed for approval by shareholders |
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Reserves |
Capital redemption reserve
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Profit and loss account
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Total
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At 1 April 2014 |
- |
181,148 |
181,148 |
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Loss for the year |
- |
(37,649) |
( |
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Dividends |
- |
(21,853) |
( |
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Purchase of own shares |
122 |
- |
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At 31 March 2015 |
122 |
121,646 |
121,768 |
Related party transactions |
During the year, total dividends of £21,852.15 (2014 - £40,000 ) were paid to the director.
Control |
The company is controlled by Mr R. Smith , who own s 90% of the called up share capital .
Richard Smith Video Productions Limited
Notes to the Financial Statements for the Year Ended 31 March 2015
......... continued
The director is deemed to be the ultimate controlling party.