Company Registration No. 05174570 (England and Wales)
PAUL HOLLYWOOD LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
PAGES FOR FILING WITH REGISTRAR
PAUL HOLLYWOOD LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
PAUL HOLLYWOOD LIMITED
BALANCE SHEET
AS AT
30 JUNE 2021
30 June 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Investments
4
3,193,695
2,743,175
Current assets
Cash at bank and in hand
501
3,022
Creditors: amounts falling due within one year
5
(196,090)
(288,525)
Net current liabilities
(195,589)
(285,503)
Net assets
2,998,106
2,457,672
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
2,998,104
2,457,670
Total equity
2,998,106
2,457,672
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 June 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 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 22 March 2022 and are signed on its behalf by:
P J Hollywood
Director
Company Registration No. 05174570
PAUL HOLLYWOOD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
- 2 -
1
Accounting policies
Company information
Paul Hollywood Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
166 College Road, Harrow, Middlesex, HA1 1RA.
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.
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 of assets less their residual values over their useful lives on the following bases:
Computer equipment
33% straight line
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
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in
profit
or
loss
.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities
.
Investments in trading LLPs are measured at cost.
PAUL HOLLYWOOD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2021
1
Accounting policies
(Continued)
- 3 -
1.5
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.
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.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
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.
1.8
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
in the period
are included in profit or loss.
1.9
Other operating income represents agency commission and licence fees receivable. This also includes the share of profit receivable from the limited liability partnership in which Paul Hollywood Limited is a member.
PAUL HOLLYWOOD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2021
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
2
3
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2020
3,756
Disposals
(3,756)
At 30 June 2021
Depreciation and impairment
At 1 July 2020
3,756
Eliminated in respect of disposals
(3,756)
At 30 June 2021
Carrying amount
At 30 June 2021
At 30 June 2020
4
Fixed asset investments
2021
2020
£
£
Other investments other than loans
3,193,695
2,743,175
Fixed asset investments not carried at market value
The fixed asset investments represent the company's capital account in HJP Media LLP as at the balance sheet date.
PAUL HOLLYWOOD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2021
4
Fixed asset investments
(Continued)
- 5 -
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 July 2020
2,743,175
Movements
450,520
At 30 June 2021
3,193,695
Carrying amount
At 30 June 2021
3,193,695
At 30 June 2020
2,743,175
5
Creditors: amounts falling due within one year
2021
2020
£
£
Corporation tax
115,842
208,878
Other taxation and social security
75,368
75,342
Other creditors
4,880
4,305
196,090
288,525
6
Called up share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
7
Related party transactions
Dur
ing the year the company charged agency and licence fees totalling £2
28,467
and £
86,774
(20
20
: £
218,133
and £
7
8,
507
) 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 profit of £
1
61,650 (20
20
: £
65,125
) from the LLP.