Flying Pictures Limited - Limited company - abbreviated - 11.6
Flying Pictures Limited - Limited company - abbreviated - 11.6
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts |
| For The Year Ended 31 December 2014 |
| for |
| Flying Pictures Limited |
| Flying Pictures Limited (Registered number: 02072298) |
| Contents of the Abbreviated Accounts |
| For The Year Ended 31 December 2014 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| Flying Pictures Limited |
| Company Information |
| For The Year Ended 31 December 2014 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered accountants |
| Flying Pictures Limited (Registered number: 02072298) |
| Abbreviated Balance Sheet |
| 31 December 2014 |
| 31.12.14 | 31.12.13 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| Investments | 3 | 97,644 | 97,644 |
| CURRENT ASSETS |
| Debtors |
| Investments |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Share premium |
| Capital redemption reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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. |
| Flying Pictures Limited (Registered number: 02072298) |
| Abbreviated Balance Sheet - continued |
| 31 December 2014 |
| The financial statements were approved by the Board of Directors on |
| Flying Pictures Limited (Registered number: 02072298) |
| Notes to the Abbreviated Accounts |
| For The Year Ended 31 December 2014 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention and in accordance with the |
| Financial Reporting Standard for Smaller Entities (effective April 2008). |
| Preparation of consolidated financial statements |
| The financial statements contain information about Flying Pictures Limited as an individual company and do not |
| contain consolidated financial information as the parent of a group. The company has taken the option under |
| Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. |
| Turnover |
| Turnover is the amount derived from the provision of goods and services after deduction of value added tax. |
| Amounts invoiced in advance of the relevant costs being incurred at the balance sheet date, are deferred and |
| included in deferred income on the balance sheet. |
| Tangible fixed assets |
| Operating equipment | - |
| Fixtures, fittings and office equipment | - |
| Motor vehicles | - |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
| balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
| the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
| period of the lease. |
| Pension costs and other post-retirement benefits |
| The amounts payable to defined contribution pension schemes on behalf of certain employees are charged to the |
| profit and loss account in the accounting period in which the liability arises. |
| Flying Pictures Limited (Registered number: 02072298) |
| Notes to the Abbreviated Accounts - continued |
| For The Year Ended 31 December 2014 |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 January 2014 |
| Additions |
| Disposals | ( |
) |
| At 31 December 2014 |
| DEPRECIATION |
| At 1 January 2014 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 December 2014 |
| NET BOOK VALUE |
| At 31 December 2014 |
| At 31 December 2013 |
| 3. | FIXED ASSET INVESTMENTS |
| Investments |
| other |
| than |
| loans |
| £ |
| COST |
| At 1 January 2014 |
| and 31 December 2014 | 69,530 |
| PROVISIONS |
| At 1 January 2014 |
| and 31 December 2014 | 8,671 |
| NET BOOK VALUE |
| At 31 December 2014 | 60,859 |
| At 31 December 2013 | 60,859 |
| The company's investments at the balance sheet date in the share capital of companies include the following: |
| Subsidiaries |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary | 100.00 |
| £ | £ |
| Aggregate capital and reserves | 100 | 100 |
| Flying Pictures Limited (Registered number: 02072298) |
| Notes to the Abbreviated Accounts - continued |
| For The Year Ended 31 December 2014 |
| 3. | FIXED ASSET INVESTMENTS - continued |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary | 100.00 |
| £ | £ |
| Aggregate capital and reserves | 58,459 | 58,459 |
| The company also holds 100% of the £111,062 of 3% unsecured loan stock in Stabilization Limited |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary | 100.00 |
| £ | £ |
| Aggregate capital and reserves | 2 | 2 |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary | 100.00 |
| £ | £ |
| Aggregate capital and reserves | 100 | 100 |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary | 100.00 |
| £ | £ |
| Aggregate capital and reserves | 95,286 | 95,286 |
| Flying Pictures Limited (Registered number: 02072298) |
| Notes to the Abbreviated Accounts - continued |
| For The Year Ended 31 December 2014 |
| 3. | FIXED ASSET INVESTMENTS - continued |
| Associated company |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary | 42.90 |
| 31.12.14 | 31.12.13 |
| £ | £ |
| Aggregate capital and reserves | (142,184 | ) | (141,523 | ) |
| Loss for the year | (661 | ) | (662 | ) |
| The interest in associated undertakings comprise a 42.9% share in the ordinary share capital of Flying Pictures |
| Space Limited, a company registered in England & Wales. Flying Pictures Space Limited designs and |
| manufactures high altitude systems. |
| Loans |
| £ |
| At 1 January 2014 |
| and 31 December 2014 | 36,785 |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.12.14 | 31.12.13 |
| value: | £ | £ |
| Ordinary | 10p |
| P | 0.1p |
| 49,166 | 49,166 |