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Unaudited Financial Statements |
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for the Year Ended 31 December 2021 |
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for |
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Various Productions Ltd |
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Unaudited Financial Statements |
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for the Year Ended 31 December 2021 |
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for |
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Various Productions Ltd |
Various Productions Ltd (Registered number: 07985307) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Various Productions Ltd |
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Company Information |
for the Year Ended 31 December 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Sterling House |
7 Ashford Road |
Maidstone |
Kent |
ME14 5BJ |
Various Productions Ltd (Registered number: 07985307) |
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Balance Sheet |
31 December 2021 |
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2021 | 2020 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Various Productions Ltd (Registered number: 07985307) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2021 |
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1. | STATUTORY INFORMATION |
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Various Productions Ltd is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The company is reliant on the financial support of the director R A Lord who has advanced the company £7,590 by way of a director's loan, and Macnaughton Lord 2000 Ltd, a company owned and controlled by R A Lord which is owed debts totalling £144,610 by Various Productions Ltd. R A Lord has stated that these debts will only be called up for repayment when the company has sufficient future operating reserves and cashflow from which to repay these debts and to meet all other debts as they fall due and for this reason the directors have prepared the company adopting the Going Concern principle despite liabilities exceeding net assets by £149,952. |
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Financial instruments |
The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties. |
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Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2020 - NIL). |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Other debtors |
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Various Productions Ltd (Registered number: 07985307) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
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Other creditors |
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6. | RELATED PARTY DISCLOSURES |
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Macnaughton Lord 2000 Ltd (03877666) |
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Included within other creditors are the following amounts owed to Macnaughton Lord 2000 Ltd, a company in which the director, R A Lord, has a significant control. |
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Intercompany loan (within Other creditors) | 2021 | 2020 |
£ | £ |
Balance at 1 January | 116,095 | 115,774 |
Expenses paid on behalf of Various Productions Ltd | 315 | 321 |
Balance at 31 December | 116,410 | 116,095 |
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The director, R A Lord, has stated that the intercompany loan has been given free of interest and is repayable on demand. |
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Trade account (within Trade creditors) | 2021 | 2020 |
£ | £ |
Balance at 1 January | - | - |
Recharges invoiced (gross of VAT) in respect of overheads | 12,000 | - |
Invoices settled | (10,000 | ) | - |
Balance at 31 December | 2,000 | - |
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Included within accruals, At the Balance Sheet date, is the sum of £26,200 (2020: £26,200) relating to rent and service charges payable to Macnaughton Lord 2000 Ltd. |
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7. | ULTIMATE CONTROLLING PARTY |
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The controlling party is R A Lord. |