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T L Productions Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2017

T L Productions Limited

Contents

Company Information	1
Accountants' Report	2
Statement of Comprehensive Income	3
Balance Sheet	4 to 5
Statement of Changes in Equity	6
Notes to the Financial Statements	7 to 11

T L Productions Limited

Company Information

Directors

Mrs L J Larkins Mr P W J Larkins

Company secretary

Mrs L J Larkins

Registered office

Spalding Business Centre Church Street Spalding Lincolnshire PE11 2PB

Accountants

Candour Accounts Limited Chartered Accountants and Business Advisers Spalding Business Centre Church Street Spalding Lincolnshire PE11 2PB

Page 1

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
T L Productions Limited
for the Year Ended 30 September 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of T L Productions Limited for the year ended 30 September 2017 as set out on pages 3 to 11 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of T L Productions Limited, as a body, in accordance with the terms of our engagement letter dated 17 January 2017. Our work has been undertaken solely to prepare for your approval the accounts of T L Productions Limited and state those matters that we have agreed to state to the Board of Directors of T L Productions Limited, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than T L Productions Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that T L Productions Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of T L Productions Limited. You consider that T L Productions Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of T L Productions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Candour Accounts Limited
Chartered Accountants and Business Advisers
Spalding Business Centre
Church Street
Spalding
Lincolnshire
PE11 2PB

22 December 2017

Page 2

T L Productions Limited

Statement of Comprehensive Income for the Year Ended 30 September 2017

	Note	2017 £	2016 £
Loss for the year		(12,503)	(4,567)
Total comprehensive income for the year		(12,503)	(4,567)

The notes on pages 7 to 11 form an integral part of these financial statements.

Page 3

T L Productions Limited

(Registration number: 06375810)
Balance Sheet as at 30 September 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	4	37,154	34,061
Current assets
Stocks	5	6,593	6,682
Debtors	6	13,856	7,771
Cash at bank and in hand		4,435	12,923
		24,884	27,376
Creditors: Amounts falling due within one year	7	(14,644)	(58,092)
Net current assets/(liabilities)		10,240	(30,716)
Total assets less current liabilities		47,394	3,345
Creditors: Amounts falling due after more than one year	7	(56,552)	-
Net (liabilities)/assets		(9,158)	3,345
Capital and reserves
Called up share capital		100	100
Profit and loss account		(9,258)	3,245
Total equity		(9,158)	3,345

For the financial year ending 30 September 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

The notes on pages 7 to 11 form an integral part of these financial statements.

Page 4

T L Productions Limited

(Registration number: 06375810)
Balance Sheet as at 30 September 2017

Approved and authorised by the Board on 22 December 2017 and signed on its behalf by:
 

.........................................

Mrs L J Larkins

Company secretary and director

.........................................

Mr P W J Larkins

Director

The notes on pages 7 to 11 form an integral part of these financial statements.

Page 5

T L Productions Limited

Statement of Changes in Equity for the Year Ended 30 September 2017

	Share capital £	Profit and loss account £	Total £
At 1 October 2016	100	3,245	3,345
Loss for the year	-	(12,503)	(12,503)
Total comprehensive income	-	(12,503)	(12,503)
At 30 September 2017	100	(9,258)	(9,158)

	Share capital £	Profit and loss account £	Total £
At 1 October 2015	100	7,812	7,912
Loss for the year	-	(4,567)	(4,567)
Total comprehensive income	-	(4,567)	(4,567)
At 30 September 2016	100	3,245	3,345

The notes on pages 7 to 11 form an integral part of these financial statements.

Page 6

T L Productions Limited

Notes to the Financial Statements for the Year Ended 30 September 2017

1	General information

The company is a private company limited by share capital incorporated in England.

The address of its registered office is:
Spalding Business Centre
Church Street
Spalding
Lincolnshire
PE11 2PB
England

The principal place of business is:
6 Well Creek Road
Outwell
Wisbech
Cambs
PE14 8PA
England

These financial statements were authorised for issue by the Board on 22 December 2017.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% Reducing balance
Office equipment	15% Reducing balance
Fixtures and fittings	15% Reducing balance
Motor vehicles	25% Reducing balance

Page 7

T L Productions Limited

Notes to the Financial Statements for the Year Ended 30 September 2017

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Page 8

T L Productions Limited

Notes to the Financial Statements for the Year Ended 30 September 2017

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2016 - 3).

Page 9

T L Productions Limited

Notes to the Financial Statements for the Year Ended 30 September 2017

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 October 2016	12,975	14,000	44,907	71,882
Additions	480	-	13,266	13,746
Disposals	-	-	(10,500)	(10,500)
At 30 September 2017	13,455	14,000	47,673	75,128
Depreciation
At 1 October 2016	8,406	3,500	25,914	37,820
Charge for the year	758	2,625	4,410	7,793
Eliminated on disposal	-	-	(7,639)	(7,639)
At 30 September 2017	9,164	6,125	22,685	37,974
Carrying amount
At 30 September 2017	4,291	7,875	24,988	37,154
At 30 September 2016	4,569	10,500	18,992	34,061

5

Stocks

	2017 £	2016 £
Other inventories	6,593	6,682

6

Debtors

	2017 £	2016 £
Trade debtors	6,026	2,537
Other debtors	7,830	5,234
Total current trade and other debtors	13,856	7,771

Page 10

T L Productions Limited

Notes to the Financial Statements for the Year Ended 30 September 2017

7

Creditors

	Note	2017 £	2016 £
Due within one year
Bank loans and overdrafts	8	2,526	-
Trade creditors		5,303	1,223
Taxation and social security		633	2,708
Other creditors		6,182	54,161
		14,644	58,092
Due after one year
Loans and borrowings	8	6,042	-
Other non-current financial liabilities		50,510	-
		56,552	-