Absolutely Productions Limited - Accounts to registrar

REGISTERED NUMBER: 02300461 (England and Wales)

Financial Statements for the Year Ended 31 December 2016

for

Absolutely Productions Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G Kennedy

C B Pye

SECRETARY:

G Kennedy

REGISTERED OFFICE:

18 The Glasshouse Studios

Fryern Court Road

Fordingbridge

Hampshire

SP6 1QX

REGISTERED NUMBER:

02300461 (England and Wales)

ACCOUNTANTS:

Saltrick & Saltrick Ltd.

Chartered Accountants

18 The Glasshouse Studios

Fryern Court Road

Fordingbridge

Hampshire

SP6 1QX

BANKERS:

Barclays Bank PLC

Media Banking Centre

P O Box 4 WA

27 Soho Square

London

W1D 3QR

SOLICITORS:

Harbottle & Lewis

14 Hanover Square

London

W1R 0BE

FIXED ASSETS

Tangible assets

4

1,995

1,353

Investments

5

80

2,075

1,433

CURRENT ASSETS

Stocks

204,094

141,755

Debtors

6

43,949

40,600

Cash at bank

230,974

164,360

479,017

346,715

CREDITORS

Amounts falling due within one year

7

393,560

267,248

NET CURRENT ASSETS

85,457

79,467

TOTAL ASSETS LESS CURRENT
LIABILITIES

87,532

80,900

CAPITAL AND RESERVES

Called up share capital

360

Share premium

150,000

Retained earnings

(62,828

)

(69,460

)

SHAREHOLDERS' FUNDS

87,532

80,900

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 25 September 2017 and were signed on its behalf
by:

C B Pye - Director

1.	STATUTORY INFORMATION

Absolutely Productions Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 January 2016

4,184

Additions

1,000

At 31 December 2016

5,184

DEPRECIATION

At 1 January 2016

2,831

Charge for year

358

At 31 December 2016

3,189

NET BOOK VALUE

At 31 December 2016

1,995

At 31 December 2015

1,353

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2016

and 31 December 2016

80

NET BOOK VALUE

At 31 December 2016

80

At 31 December 2015

80

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

Trade debtors

6,050

508

Other debtors

37,899

40,092

43,949

40,600

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

Trade creditors

33,647

34,810

Taxation and social security

50,622

-

Other creditors

309,291

232,438

393,560

267,248

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Some of the directors receive freelance fees on normal commercial terms in relation to their duties as personnel

working within the television industry.

9.	RELATED PARTY DISCLOSURES

The company earned management fees of £Nil (2015 - £Nil) from Absolutely Rights Limited.