Company Registration No. 09281979 (England and Wales)
NEW REIGN PRODUCTIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
PAGES FOR FILING WITH REGISTRAR
NEW REIGN PRODUCTIONS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
NEW REIGN PRODUCTIONS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2020
31 March 2020
2020
2019
Notes
£
£
£
£
Current assets
Debtors
3
8,554
9,467
Cash at bank and in hand
931
3,213
9,485
12,680
Creditors: amounts falling due within one year
4
(119,747)
(51,801)
Net current liabilities
(110,262)
(39,121)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(110,362)
(39,221)
Total equity
(110,262)
(39,121)
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 31 March 2020 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 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 and signed by the director and authorised for issue on 26 May 2021
Mr Derek Safo
Director
Company Registration No. 09281979
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NEW REIGN PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
1
Accounting policies
Company information
New Reign Productions Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
3rd Floor, 5 Chancery Lane, London, WC2A 1LQ.
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 goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Royalty income is accounted for on a receivable basis to the extent that it can be quantified from amounts received from or declared by licensees and other parties.
1.3
Financial instruments
The company
only has financial instruments which are classified as basic financial instruments.
Short-term debtors and creditors are measured at the settlement value. Any losses from impairment are recognised in profit and loss.
Bank loans are initially recorded at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method.
1.4
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.
1.5
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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NEW REIGN PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
1
Accounting policies
(Continued)
1.7
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2020
2019
Number
Number
Total
2
2
3
Debtors
2020
2019
Amounts falling due within one year:
£
£
Trade debtors
5,479
2,400
Corporation tax recoverable
457
457
Other debtors
2,618
6,610
8,554
9,467
4
Creditors: amounts falling due within one year
2020
2019
£
£
Bank loans
254
2,324
Trade creditors
23,365
27,767
Corporation tax
1,519
457
Other taxation and social security
34,716
3,179
Other creditors
59,893
18,074
119,747
51,801
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NEW REIGN PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
5
Related party transactions
The company director is also a director and shareholder of Dcypha Productions Limited
and
Surveillance Music Publishing Limited.
At the
B
alance
S
heet date
, the amount owed by
Surveillance Music Publishing Limited
to the company
was £2,619
(2019: £2,619
)
.
During the period,
Dcypha Productions
Limited
,
incurred expenses on behalf of the company totalling
£840
and received £
2,953
from the company
. At the
B
alance
S
heet date the
company
owed £12,728 (2019: £14,841
)
.
During the period,
D Safo
, a director of the company,
invested funds totalling £42,312 and withdrew funds totalling £20,490
. At the
B
alance
Sheet date the director was owed £20,415 (2019: £1,407
owed by the director).
No interest has been charged on these balances.
6
Control
The company is controlled by the director, by virtue of his shareholding.
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