Company Registration No. 05174570 (England and Wales)
PAUL HOLLYWOOD LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016
PAUL HOLLYWOOD LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
PAUL HOLLYWOOD LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 JUNE 2016
30 June 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
38
1,287
Investments
2
1,139,617
883,245
1,139,655
884,532
Current assets
Debtors
132,110
747,021
Cash at bank and in hand
429
-
132,539
747,021
Creditors: amounts falling due within one year
(110,550)
(239,511)
Net current assets
21,989
507,510
Total assets less current liabilities
1,161,644
1,392,042
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
1,161,642
1,392,040
Shareholders' funds
1,161,644
1,392,042
For the financial year ended 30 June 2016 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.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 23 February 2017
P J Hollywood
Director
Company Registration No. 05174570
PAUL HOLLYWOOD LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for services provided, net of VAT and trade discounts. Income is recognised in the period to which it relates.
Income is recognised in the period to which it relates.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
33% straight line
1.5
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
PAUL HOLLYWOOD LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2016
- 3 -
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 July 2015
5,038
883,245
888,283
Additions
-
256,372
256,372
At 30 June 2016
5,038
1,139,617
1,144,655
Depreciation
At 1 July 2015
3,751
-
3,751
Charge for the year
1,249
-
1,249
At 30 June 2016
5,000
-
5,000
Net book value
At 30 June 2016
38
1,139,617
1,139,655
At 30 June 2015
1,287
883,245
884,532
The company is a member of HJP Media LLP, a limited liability partnership registered in the United Kingdom. The above investment represents the company's share of the partners' capital accounts in HJP Media LLP and includes the company's share of losses for the current period of £483,961 (2015: profit of £73,911) from the LLP.
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2
4
Related party relationships and transactions
Included within other creditors is £20,197 (2015: debtor of £643,789) owed to P J Hollywood as at the balance sheet date. During the year the maximum balance outstanding on a loan to the director was £645,299 (2015: £658,885), and interest of £9,759 (2015: £34,268) was charged on the loan at the HM Revenue and Customs rate for beneficial loans. The loan was fully repaid to the company during the year. During the year agency and licence fees totalling £204,422 and £32,381 respectively (2015: nil and £7,285) were due to the company from HJP Media LLP.
During the year the maximum balance outstanding on a loan to the director was £645,299 (2015: £658,885), and interest of £9,759 (2015: £34,268) was charged on the loan at the HM Revenue and Customs rate for beneficial loans. The loan was fully repaid to the company during the year.
During the year agency and licence fees totalling £204,422 and £32,381 respectively (2015: nil and £7,285) were due to the company from HJP Media LLP.