PAUL HOLLYWOOD LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2017
PAGES FOR FILING WITH REGISTRAR
Company Registration No. 05174570 (England and Wales)
PAUL HOLLYWOOD LIMITED
COMPANY INFORMATION
Directors
P J Hollywood
A K Hollywood
Secretary
A K Hollywood
Company number
05174570
Registered office
Clarendon House
20/22 Aylesbury End
Beaconsfield
Buckinghamshire
HP9 1LW
Accountants
Charterhouse (Accountants) Limited
Clarendon House
20/22 Aylesbury End
Beaconsfield
Buckinghamshire
HP9 1LW
PAUL HOLLYWOOD LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
PAUL HOLLYWOOD LIMITED
BALANCE SHEET
AS AT
30 JUNE 2017
30 June 2017
- 1 -
2017
2016
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
38
Investments
4
1,842,523
1,139,617
1,842,523
1,139,655
Current assets
Debtors
5
-
132,110
Cash at bank and in hand
575
429
575
132,539
Creditors: amounts falling due within one year
6
(341,456)
(110,550)
Net current (liabilities)/assets
(340,881)
21,989
Total assets less current liabilities
1,501,642
1,161,644
Capital and reserves
Called up share capital
7
2
2
Profit and loss reserves
1,501,640
1,161,642
Total equity
1,501,642
1,161,644
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 30 June 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he member has 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 3 April 2018 and are signed on its behalf by:
P J Hollywood
Director
Company Registration No. 05174570
PAUL HOLLYWOOD LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2017
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 July 2015
2
1,392,040
1,392,042
Year ended 30 June 2016:
Loss and total comprehensive income for the year
-
(230,398)
(230,398)
Balance at 30 June 2016
2
1,161,642
1,161,644
Year ended 30 June 2017:
Profit and total comprehensive income for the year
-
339,998
339,998
Balance at 30 June 2017
2
1,501,640
1,501,642
PAUL HOLLYWOOD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2017
- 3 -
1
Accounting policies
Company information
Paul Hollywood Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Clarendon House, 20/22 Aylesbury End, Beaconsfield, Buckinghamshire, HP9 1LW.
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 £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
These financial statements for the year ended 30 June 2017
are the
first
financial statements of Paul Hollywood Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 July 2015. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
1.3
Tangible fixed assets
Tangible fixed assets
are measured at cost, net of depreciation.
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:
Computer equipment
33% straight line
1.4
Fixed asset investments
Investments in trading LLPs are measured at cost.
1.5
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand
.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally 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.
PAUL HOLLYWOOD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2017
1
Accounting policies
(Continued)
- 4 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.
Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, are
recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities
.
1.7
Taxation
The tax expense represents the sum of the tax currently payable.
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 3 (2016 - 3).
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2016 and 30 June 2017
5,038
Depreciation and impairment
At 1 July 2016
5,000
Depreciation charged in the year
38
At 30 June 2017
5,038
Carrying amount
At 30 June 2017
-
At 30 June 2016
38
PAUL HOLLYWOOD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2017
- 5 -
4
Fixed asset investments
2017
2016
£
£
Investments
1,842,523
1,139,617
The investments represent the company's capital account in HJP Media LLP as at the balance sheet date.
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 July 2016
1,139,617
Movements
702,906
At 30 June 2017
1,842,523
Carrying amount
At 30 June 2017
1,842,523
At 30 June 2016
1,139,617
5
Debtors
2017
2016
Amounts falling due within one year:
£
£
Corporation tax recoverable
-
36,163
Other debtors
-
95,947
-
132,110
6
Creditors: amounts falling due within one year
2017
2016
£
£
Trade creditors
-
2,971
Corporation tax
246,176
-
Other taxation and social security
75,633
76,069
Other creditors
19,647
31,510
341,456
110,550
PAUL HOLLYWOOD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2017
- 6 -
7
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
2 Ordinary shares of £1 each
2
2
2
2
8
Related party transactions
Included within other creditors is an amount of £16,834 (2016: £20,197) owed to P J Hollywood as at the balance sheet date.
During the year the company charged agency and licence fees totalling £171,450 and £41,160 (2016: £204,422 and £32,381) respectively to HJP Media LLP, a limited liability partnership in which the company is a member. During the year the company also received a share of loss of £307,462 (2016: £483,961) from the LLP.