Ind Dvd Limited - Limited company accounts 20.1

REGISTERED NUMBER: 04913508 (England and Wales)

Report of the Director and

Unaudited Financial Statements

for the Year Ended 31 March 2021

for

Ind Dvd Limited

Page

Company Information

1

Report of the Director

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

D Saville

SECRETARY:

REGISTERED OFFICE:

Suite 3.20 344-354 Gray's Inn Road

London

WC1X 8BP

REGISTERED NUMBER:

04913508 (England and Wales)

ACCOUNTANTS:

SKS Business Services Ltd

3 Sheen Road

Richmond Upon Thames

Surrey

TW9 1AD

The director presents his report with the financial statements of the company for the year ended 31 March 2021.

REVIEW OF BUSINESS

There was no profit/loss during the year (2020; NIL). The director cannot recommend the payment of a dividend.

DIRECTOR

D Saville held office during the whole of the period from 1 April 2020 to the date of this report.

FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

The company uses various financial instruments which include cash, trade debtors, trade creditors and amounts due to group undertakings that arise directly from its operations. The main purpose of these financial instruments is to raise finance for the company's operations. The existence of these financial instruments exposes the company to a number of financial risks, which are described in more detail below.

The main risks arising from the company's financial instruments are currency risk, interest rate risk, credit risk and liquidity risk. The directors review and agree policies for managing each of these risks and they are summarised below. These policies have remained unchanged from previous years.

Liquidity risk

The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably.

The company's policy throughout the year has been to achieve this objective through management's day to day involvement in business decisions rather than through setting maximum or minimum liquidity ratios.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

D Saville - Director

23 December 2021

TURNOVER

-

OPERATING PROFIT and

PROFIT BEFORE TAXATION

-

Tax on profit

3

-

PROFIT FOR THE FINANCIAL YEAR

-

CURRENT ASSETS

Debtors

4

30,126

CREDITORS

Amounts falling due within one year

5

(149,983

)

(149,983

)

NET CURRENT LIABILITIES

(119,857

)

(119,857

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(119,857

)

(119,857

)

CAPITAL AND RESERVES

Called up share capital

6

100

Retained earnings

(119,957

)

(119,957

)

SHAREHOLDERS' FUNDS

(119,857

)

(119,857

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 23 December 2021 and were signed by:

D Saville - Director

1.	ACCOUNTING POLICIES

BASIS OF PREPARATION

The financial statements have been prepared under the historical cost convention and in accordance with applicable accounting standards.

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 on all timing differences where the transactions or events that give the group an obligation to pay more tax in the future, or a right to pay less tax in the future, have occurred by the balance sheet date. Deferred tax assets are recognised when it is more likely than not that they will be recovered. Deferred tax is measured using rates of tax that have been enacted or substantively enacted by the balance sheet date.

FOREIGN CURRENCY

Transactions in foreign currencies are translated at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities in foreign currencies are translated at the rates of exchange ruling at the balance sheet date. Any gain or loss arising from a change in exchange rates subsequent to the date of the transaction is included as an exchange gain or loss in the profit and loss account.

ADVANCES

Advances represent amounts paid to third parties for the licence to distribute motion films and related costs. These amounts are recognised in the balance sheet where it is estimated that sufficient future royalties will be earned to enable recoupment to take place.

GOING CONCERN

The director has reviewed the company's ability to continue in business and believes that it will continue in operational existence for the foreseeable future with the financial support of the group undertakings. The financial statements have therefore been prepared on the going concern basis and do not include any adjustments that would result from the company not being able to continue in business, should the above basis prove to be inappropriate.

The principal accounting policies of the company have remained unchanged from the previous year and are set out below.

RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption available in FRS 8 from disclosing transactions with entities that are part of the 3DD Holdings Limited group of companies.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

3.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose for the year ended 31 March 2021 nor for the year ended 31 March 2020.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

Trade debtors

27,669

Other debtors

2,457

30,126

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

Amounts owed to group undertakings

149,983

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

100

Ordinary

1

100

7.	FINANCIAL COMMITMENTS TO PARENT COMPANY AND FELLOW SUBSIDIARIES

The company has entered into an agreement with four other group companies, respectively 3DD Entertainment Limited, 3DD Holdings Ltd, 3DD Productions Ltd to support each other financially if the need arises.

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

No management expenses were charged by 3DD Entertainment Limited during the year. The amount due to 3DD Entertainment Limited at the year-end was £149,983

There were no other related party transactions.

9.	ULTIMATE CONTROLLING PARTY

The director considers that the ultimate parent undertaking of this company is 3DD Holdings Limited (registration number 05102800), incorporated in England and Wales. Copies of the parent undertakings' accounts are available from the company from the company's registered offices. The company is controlled by D T Saville by virtue of his majority shareholding in the ultimate parent company.