Ballet Shorts Limited - Period Ending 2020-09-30

Ballet Shorts Limited

Contents

Company Information	1
Statement of Financial Position	2
Notes to the Unaudited Financial Statements	3 to 4

Ballet Shorts Limited

Company Information

Director

C C M Haswell

Registered office

130 Shaftesbury Avenue 2nd Floor London W1D 5EU

Accountants

Brebners Chartered Accountants 130 Shaftesbury Avenue London W1D 5AR

Ballet Shorts Limited

Statement of Financial Position as at 30 September 2020

	Note	2020 £	2019 £
Current assets
Debtors	4	7,946	7,819
Cash at bank and in hand		3,167	4,570
		11,113	12,389
Creditors: Amounts falling due within one year	5	(52,069)	(51,919)
Net liabilities		(40,956)	(39,530)
Capital and reserves
Called up share capital		1	1
Profit and loss account		(40,957)	(39,531)
Shareholders' deficit		(40,956)	(39,530)

For the financial year ending 30 September 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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 Statement of Income and Retained Earnings has been taken.

Approved and authorised by the director on 30 June 2021
 

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

C C M Haswell

Director

Company registration number: 11568108

Ballet Shorts Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2020

1	General information

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

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of the production of short films

2	Accounting policies

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 any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Going concern

The company had net liabilities of £40,956 at 30 September 2020 and at that date an amount of £45,569 was due to the director and another individual who have pledged not to call on these amounts until such time as the company has sufficient working capital, and to support the company with working capital if necessary.

The director has considered the potential effect of the COVID-19 pandemic and although there is no certainty when this will end, the director believes the effect will be manageable. The company completed its first short film last year and is actively marketing it with a view to receiving future income from its exploitation. In the meantime the company has limited overheads that the director is able to control.

On the basis of the above, and after making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the
director continues to adopt the going concern basis in preparing the financial statements.

Revenue recognition

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

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge 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.

Ballet Shorts Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2020

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.

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 during the year, was 0 (2019 - 0).

4

Debtors

	2020 £	2019 £
Other debtors	7,946	7,819
	7,946	7,819

5

Creditors

Creditors: amounts falling due within one year

	2020 £	2019 £
Other creditors	52,069	51,919