Company Registration No. 10103416 (England and Wales)
SCHOFIELD PRODUCTIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2018
PAGES FOR FILING WITH REGISTRAR
SCHOFIELD PRODUCTIONS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 4
SCHOFIELD PRODUCTIONS LIMITED
ENTERTAINMENT ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SCHOFIELD PRODUCTIONS LIMITED FOR THE YEAR ENDED 30 APRIL 2018
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Schofield Productions Limited for the period ended 30 April 201
8
which comprise and the related notes from the company’s accounting records and from information and explanations you have given us.
It is your duty to ensure that Schofield Productions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets,
liabilities, financial position and profit of Schofield Productions Limited. You consider that Schofield Productions Limited is exempt from the statutory audit
requirement for the year.
Theataccounts Limited
17 January 2019
Entertainment Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
SCHOFIELD PRODUCTIONS LIMITED
BALANCE SHEET
AS AT
30 APRIL 2018
30 April 2018
- 2 -
2018
2017
Notes
£
£
£
£
Current assets
Debtors
1,876
638
Cash at bank and in hand
43,316
39,607
45,192
40,245
Creditors: amounts falling due within one year
2
(26,854)
(24,338)
Net current assets
18,338
15,907
Capital and reserves
Called up share capital
3
100
100
Profit and loss reserves
18,238
15,807
Total equity
18,338
15,907
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 April 2018 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 and signed by the director and authorised for issue on 17 January 2019
Mr S Schofield
Director
Company Registration No. 10103416
SCHOFIELD PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2018
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1
Accounting policies
Company information
Schofield Productions Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
35 Lyon Court, Walsworth Road, Hitchin, Hertfordshire, SG4 9SX.
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.
1.2
Turnover
Turnover represents net invoiced sales of services, excluding value added tax.
1.3
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
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.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Creditors: amounts falling due within one year
2018
2017
£
£
Corporation tax
7,418
5,675
Other creditors
19,436
18,663
26,854
24,338
SCHOFIELD PRODUCTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2018
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3
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary A of £1 each
100
100
100
100