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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2019 |
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MWS PRODUCTIONS LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2019 |
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FOR |
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MWS PRODUCTIONS LIMITED |
MWS PRODUCTIONS LIMITED (REGISTERED NUMBER: 10549007) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31st March 2019 |
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Page |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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MWS PRODUCTIONS LIMITED |
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COMPANY INFORMATION |
for the Year Ended 31st March 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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103 Newland Road |
Worthing |
West Sussex |
BN11 1LB |
MWS PRODUCTIONS LIMITED (REGISTERED NUMBER: 10549007) |
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ABRIDGED BALANCE SHEET |
31st March 2019 |
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31.3.19 | 31.3.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
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 LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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CREDITORS |
Amounts falling due after more than one
year |
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NET (LIABILITIES)/ASSETS | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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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. |
MWS PRODUCTIONS LIMITED (REGISTERED NUMBER: 10549007) |
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ABRIDGED BALANCE SHEET - continued |
31st March 2019 |
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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 on
by: |
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MWS PRODUCTIONS LIMITED (REGISTERED NUMBER: 10549007) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31st March 2019 |
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1. | STATUTORY INFORMATION |
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MWS Productions Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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As shown by other notes attached the Directors have decided that the company will cease to trade at the end of |
the current financial year when their lease on current premises expires. The company will then dispose of |
remaining assets and settle outstanding debts. Therefore due to these circumstances the accounts as presented are |
not considered prepared on a going concern basis but reflect the position/value as at the Balance Sheet date. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery | - |
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Motor vehicles | - |
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Computer equipment | - |
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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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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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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
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MWS PRODUCTIONS LIMITED (REGISTERED NUMBER: 10549007) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st March 2019 |
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4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1st April 2018 |
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Additions |
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Disposals | ( |
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At 31st March 2019 |
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DEPRECIATION |
At 1st April 2018 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31st March 2019 |
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NET BOOK VALUE |
At 31st March 2019 |
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At 31st March 2018 |
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5. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.3.19 | 31.3.18 |
£ | £ |
Bank loans |
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Loans are secured by guarantees from a company director. |
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6. | POST BALANCE SHEET EVENTS |
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It has been decided since the Balance Sheet Date but before the signing of these reports that the future |
profitability of the company was questionable. The Directors have therefore decided to continue the business |
until the end of the current financial year (31st March 2020) where their lease on the current premises ends. They |
company will then cease trading and remaining assets disposed of and liabilities settled. |
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7. | ULTIMATE CONTROLLING PARTY |
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The company is controlled by its two directors who are equal shareholders. |