Topham Productions Limited
Unaudited Financial Statements
For Filing with Registrar
For the year ended 31 December 2019
Company Registration No. 08729089 (England and Wales)
Topham Productions Limited
Company Information
Directors
J Topham
A Topham
Secretary
J Davey
Company number
08729089
Registered office
1st, 2nd & 3rd Floors
37 Shelton Street
London
United Kingdom
WC2H 9HN
Accountants
Moore Kingston Smith LLP
Charlotte Building
17 Gresse Street
London
W1T 1QL
Topham Productions Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Topham Productions Limited
Balance Sheet
As at 31 December 2019
Page 1
2019
2018
Notes
£
£
£
£
Fixed assets
Goodwill
3
-
26,500
Current assets
Debtors
4
100
100
Creditors: amounts falling due within one year
5
(30,000)
(30,000)
Net current liabilities
(29,900)
(29,900)
Total assets less current liabilities
(29,900)
(3,400)
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
(30,000)
(3,500)
Total equity
(29,900)
(3,400)
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 31 December 2019 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 members have 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
23 December 2020 and are signed on its behalf by:
2020-12-23
J Topham
Director
Company Registration No. 08729089
Topham Productions Limited
Notes to the Financial Statements
For the year ended 31 December 2019
Page 2
1
Accounting policies
Company information
Topham Productions Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
1st, 2nd & 3rd Floors, 37 Shelton Street, London, United Kingdom, WC2H 9HN.
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.
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 pound.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
In March 2020, the World Health Organisation declared a novel Coronavirus, Covid-19, a global pandemic. As a result, a number of events scheduled in 2020 were cancelled across the group.
true
The directors have considered the potential impact of Covid-19, and the various measures taken to contain it, on the operations of the business in the near future. The directors have prepared cash flow forecasts for a period of 12 months from the date of approval of these financial statements which indicate that, taking account of reasonably possible downsides, the company will have sufficient funds which includes a group bank overdraft facility of £250,000, to meet its liabilities as they fall due for that period.
The directors will continue to monitor the government announcements, and in the event income is impacted more significantly than expected in 2021 as a result of the ongoing Covid-19 pandemic they will consider cost cutting measures in order to ensure the long term viability of the business.
To help ensure the business can meet further unforeseen negative impacts from Covid-19 the parent company secured a new loan of £900,000, and the directors have the option to secure further financing facilities and/or consider cost cutting measures if needed.
Consequently, the directors are confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated
amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years.
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
Topham Productions Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2019
1
Accounting policies
(Continued)
Page 3
1.4
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2019
2018
2
2
3
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2019
30,000
Disposals
(30,000)
At 31 December 2019
-
Amortisation and impairment
At 1 January 2019
3,500
Amortisation charged for the year
6,000
Disposals
(9,500)
At 31 December 2019
-
Carrying amount
At 31 December 2019
-
At 31 December 2018
26,500
Topham Productions Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2019
Page 4
4
Debtors
2019
2018
Amounts falling due within one year:
£
£
Unpaid share capital
100
100
5
Creditors: amounts falling due within one year
2019
2018
£
£
Other creditors
30,000
30,000
6
Share capital
2019
2018
£
£
Ordinary share capital
Issued and not fully paid
100 Ordinary Shares of £1 each
100
100
100
100
7
Related party transactions
At the year end there was an amount of £30,000 (2018: £30,000) owed to the director, J Topham.
8
Controlling party
The directors consider that there is no single ultimate controlling party.