Registration number:
Hero Post Production Limited
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Hero Post Production Limited
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Hero Post Production Limited
Company Information
Director |
R Lawrence |
Registered office |
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Accountants |
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Hero Post Production Limited
Statement of Financial Position as at 30 April 2022
Note |
2022 |
2021 |
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Fixed assets |
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Tangible assets |
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Current assets |
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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 |
1 |
1 |
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Retained earnings |
20,783 |
14,530 |
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Shareholders' funds |
20,784 |
14,531 |
For the financial year ending 30 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.
Company registration number: 08502497
Hero Post Production Limited
Statement of Financial Position as at 30 April 2022
Approved and authorised by the
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Hero Post Production Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company is the provision of post production services to the entertainment industry.
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
Going concern
The company made a profit for the year ended 30 April 2022 and had net assets at that date amounting to £20,784, including cash at bank of £12,370.
The company has traded profitably during the Covid-19 pandemic, and with the lifting of all restrictions in the UK, the company's turnover has returned to pre-pandemic levels.
Based on the above, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, he continues to adopt the going concern basis in preparing the financial statements.
Revenue recognition
The turnover shown in the profit and loss account represents amounts receivable for services in the normal course of the company's activities provided during the year, net of VAT and trade discounts.
Turnover from post production services is recognised over the period to which the services were provided.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Hero Post Production Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant & Machinery |
25% per annum straight line |
Fixtures & Fittings |
25% per annum straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company during the year, was
Hero Post Production Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022
Tangible assets |
Fixtures & Fittings |
Plant & Machinery |
Total |
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Cost or valuation |
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At 1 May 2021 |
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Additions |
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Disposals |
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At 30 April 2022 |
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Depreciation |
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At 1 May 2021 |
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Charge for the year |
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Eliminated on disposal |
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At 30 April 2022 |
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Carrying amount |
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At 30 April 2022 |
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At 30 April 2021 |
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Debtors |
2022 |
2021 |
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Trade debtors |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2022 |
2021 |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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