back to PETER EVANS STUDIOS LIMITED detail PETER EVANS STUDIOS LIMITED - Period Ending 2018-03-31
PETER EVANS STUDIOS LIMITED 01252798 false 2017-04-01 2018-03-31 2018-03-31 The principal activity of the company is vacuum forming,scenic embellishment and property making for the entertainment industry,pubs,hotels and shops Digita Accounts Production Advanced 6.21.8540.0 Software true 01252798 2017-04-01 2018-03-31 01252798 2018-03-31 01252798 bus:OrdinaryShareClass1 2018-03-31 01252798 core:RetainedEarningsAccumulatedLosses 2018-03-31 01252798 core:ShareCapital 2018-03-31 01252798 core:CurrentFinancialInstruments core:WithinOneYear 2018-03-31 01252798 core:LandBuildings 2018-03-31 01252798 bus:SmallEntities 2017-04-01 2018-03-31 01252798 bus:AuditExemptWithAccountantsReport 2017-04-01 2018-03-31 01252798 bus:AbridgedAccounts 2017-04-01 2018-03-31 01252798 bus:SmallCompaniesRegimeForAccounts 2017-04-01 2018-03-31 01252798 bus:RegisteredOffice 2017-04-01 2018-03-31 01252798 bus:CompanySecretary1 2017-04-01 2018-03-31 01252798 bus:Director1 2017-04-01 2018-03-31 01252798 bus:Director3 2017-04-01 2018-03-31 01252798 bus:Director4 2017-04-01 2018-03-31 01252798 bus:OrdinaryShareClass1 2017-04-01 2018-03-31 01252798 bus:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31 01252798 core:Goodwill 2017-04-01 2018-03-31 01252798 core:LandBuildings 2017-04-01 2018-03-31 01252798 core:MotorVehicles 2017-04-01 2018-03-31 01252798 core:OfficeEquipment 2017-04-01 2018-03-31 01252798 core:PlantMachinery 2017-04-01 2018-03-31 01252798 countries:UnitedKingdom 2017-04-01 2018-03-31 01252798 2017-03-31 01252798 core:LandBuildings 2017-03-31 01252798 2016-04-01 2017-03-31 01252798 2017-03-31 01252798 bus:OrdinaryShareClass1 2017-03-31 01252798 core:RetainedEarningsAccumulatedLosses 2017-03-31 01252798 core:ShareCapital 2017-03-31 01252798 core:CurrentFinancialInstruments core:WithinOneYear 2017-03-31 01252798 core:LandBuildings 2017-03-31 01252798 bus:OrdinaryShareClass1 2016-04-01 2017-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 01252798

PETER EVANS STUDIOS LIMITED

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2018

Minney & Company Limited
Chartered Accountants
59 Union Street
Dunstable
Beds
LU6 1EX

 

PETER EVANS STUDIOS LIMITED

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Abridged Financial Statements

4 to 7

 

PETER EVANS STUDIOS LIMITED

Company Information

Directors

Mr Peter Evans

Mrs Rowena Margaret Evans

Mr Phillip Stanford Peter Evans

Company secretary

Mrs Virginia Brisco

Registered office

12-14 Tavistock Street
Dunstable
Bedfordshire
LU6 1NE

Accountants

Minney & Company Limited
Chartered Accountants
59 Union Street
Dunstable
Beds
LU6 1EX

 

PETER EVANS STUDIOS LIMITED

(Registration number: 01252798)
Abridged Balance Sheet as at 31 March 2018

Note

2018
£

2017
£

Fixed assets

 

Tangible assets

4

1,050,353

1,075,060

Current assets

 

Debtors

144,848

42,263

Cash at bank and in hand

 

158,638

231,101

 

303,486

273,364

Creditors: Amounts falling due within one year

(8,329)

(4,364)

Net current assets

 

295,157

269,000

Total assets less current liabilities

 

1,345,510

1,344,060

Accruals and deferred income

 

(1,510)

(1,500)

Net assets

 

1,344,000

1,342,560

Capital and reserves

 

Called up share capital

5

1,000

1,000

Profit and loss account

1,343,000

1,341,560

Total equity

 

1,344,000

1,342,560

For the financial year ending 31 March 2018 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

PETER EVANS STUDIOS LIMITED

(Registration number: 01252798)
Abridged Balance Sheet as at 31 March 2018

Approved and authorised by the Board on 23 October 2018 and signed on its behalf by:
 

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

Mr Peter Evans
Director

 

PETER EVANS STUDIOS LIMITED

Notes to the Abridged Financial Statements for the Year Ended 31 March 2018

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
12-14 Tavistock Street
Dunstable
Bedfordshire
LU6 1NE
United Kingdom

These financial statements were authorised for issue by the Board on 23 October 2018.

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 abridged 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 abridged 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

PETER EVANS STUDIOS LIMITED

Notes to the Abridged Financial Statements for the Year Ended 31 March 2018

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Land and buildings

2% straight line

Motor vehicles

25% straight line

Office equipment

25% straight line

Plant and machinery

25% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Positive goodwill

over its estimated life

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.

 

PETER EVANS STUDIOS LIMITED

Notes to the Abridged Financial Statements for the Year Ended 31 March 2018

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.

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.

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

Intangible assets

Cost or valuation

Amortisation

Carrying amount

At 31 March 2018

The aggregate amount of research and development expenditure recognised as an expense during the period is £Nil (2017 - £Nil).
 

 

PETER EVANS STUDIOS LIMITED

Notes to the Abridged Financial Statements for the Year Ended 31 March 2018

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 April 2017

1,235,326

1,235,326

At 31 March 2018

1,235,326

1,235,326

Depreciation

At 1 April 2017

160,266

160,266

Charge for the year

24,707

24,707

At 31 March 2018

184,973

184,973

Carrying amount

At 31 March 2018

1,050,353

1,050,353

At 31 March 2017

1,075,060

1,075,060

Included within the net book value of land and buildings above is £1,050,354 (2017 - £1,075,060) in respect of freehold land and buildings.
 

5

Share capital

Allotted, called up and fully paid shares

 

2018

2017

 

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

         

6

Dividends

Final dividends paid

   

2018
£

 

2017
£

Final dividend of £Nil per each Ordinary shares

 

-

 

-