ACCOUNTS - Final Accounts

DUNLOP FILMS LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2022-06-302022-06-302021-07-01falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.11truetrue 07179634 2021-07-01 2022-06-30 07179634 2020-07-01 2021-06-30 07179634 2022-06-30 07179634 2021-06-30 07179634 c:Director1 2021-07-01 2022-06-30 07179634 d:FurnitureFittings 2021-07-01 2022-06-30 07179634 d:FurnitureFittings 2022-06-30 07179634 d:FurnitureFittings 2021-06-30 07179634 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-07-01 2022-06-30 07179634 d:OfficeEquipment 2021-07-01 2022-06-30 07179634 d:OfficeEquipment 2022-06-30 07179634 d:OfficeEquipment 2021-06-30 07179634 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-07-01 2022-06-30 07179634 d:OwnedOrFreeholdAssets 2021-07-01 2022-06-30 07179634 d:CurrentFinancialInstruments 2022-06-30 07179634 d:CurrentFinancialInstruments 2021-06-30 07179634 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 07179634 d:CurrentFinancialInstruments d:WithinOneYear 2021-06-30 07179634 d:ShareCapital 2022-06-30 07179634 d:ShareCapital 2021-06-30 07179634 d:RetainedEarningsAccumulatedLosses 2022-06-30 07179634 d:RetainedEarningsAccumulatedLosses 2021-06-30 07179634 c:OrdinaryShareClass1 2021-07-01 2022-06-30 07179634 c:OrdinaryShareClass1 2022-06-30 07179634 c:OrdinaryShareClass1 2021-06-30 07179634 c:FRS102 2021-07-01 2022-06-30 07179634 c:AuditExempt-NoAccountantsReport 2021-07-01 2022-06-30 07179634 c:FullAccounts 2021-07-01 2022-06-30 07179634 c:CompanyLimitedByGuarantee 2021-07-01 2022-06-30 07179634 2 2021-07-01 2022-06-30 07179634 d:ShareCapitalOtherShareTypes 2022-06-30 07179634 d:ShareCapitalOtherShareTypes 2021-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07179634

DUNLOP FILMS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022


DUNLOP FILMS LIMITED REGISTERED NUMBER:07179634

BALANCE SHEET

AS AT 30 JUNE 2022

		2022		2021
Note		£		£

Fixed assets
Tangible assets	4		4,206		4,658
			4,206		4,658
Current assets
Debtors: amounts falling due within one year	5	143,747		28,913
Cash at bank	6	999,914		850,957
		1,143,661		879,870
Creditors: amounts falling due within one year	7	(77,604)		(59,763)
Net current assets			1,066,057		820,107
Total assets less current liabilities			1,070,263		824,765
Provisions for liabilities
Deferred tax		(881)		(1,165)
			(881)		(1,165)
Net assets			1,069,382		823,600

Capital and reserves
Called up share capital	8	1	1
Profit and loss account		1,069,381	823,599
		1,069,382	823,600

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DUNLOP FILMS LIMITED REGISTERED NUMBER:07179634

BALANCE SHEET (CONTINUED)

AS AT 30 JUNE 2022

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

S M Dunlop

Director

Date: 13 March 2023

The notes on pages 3 to 7 form part of these financial statements.

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DUNLOP FILMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

1.	General information

Dunlop Films Limited is a private company, limited by shares, registered in England and Wales, registration number 07179634. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.
The principal activity of the company continued to be that of advertisement and short-film production.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of the Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from advertisement and short-film production is recognised when it is probable the company will receive the rights to the consideration due under the contract.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

				Fixtures and fittings	-	25%	reducing balance
				Camera equipment	-	25%	reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.5

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

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DUNLOP FILMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

2.Accounting policies (continued)

2.6

Financial instruments

The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors, trade and other creditors, and loans with related parties.

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is pound sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each year end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and loss account within 'administration expenses'. All other foreign exchange gains and losses are presented in profit or loss.

2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2.10

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

2.11

Interest income

Interest income is recognised in profit or loss using the effective interest method.

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DUNLOP FILMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

2.Accounting policies (continued)

2.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Employees

The average monthly number of employees, including the director, during the year was 1 (2021 - 1).

4.	Tangible fixed assets

	Fixtures and fittings	Camera equipment	Total
	£	£	£
Cost
At 1 July 2021	6,913	16,512	23,425
Additions	900	-	900
At 30 June 2022	7,813	16,512	24,325
Depreciation
At 1 July 2021	4,861	13,906	18,767
Charge for the year	700	652	1,352
At 30 June 2022	5,561	14,558	20,119
Net book value
At 30 June 2022	2,252	1,954	4,206
At 30 June 2021	2,052	2,606	4,658

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DUNLOP FILMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

Debtors

					2022	2021
					£	£


Trade debtors	99,506	-
Other debtors	43,491	28,713
Prepayments	750	200
	143,747	28,913

6.	Cash
		2022	2021
		£	£

	Cash at bank	999,914	850,957

7.	Creditors: amounts falling due within one year
		2022	2021
		£	£

Trade creditors	-	750
Corporation tax	72,337	55,148
Other taxation and social security	285	-
Other creditors	1,032	515
Accruals	3,950	3,350
	77,604	59,763

8.	Share capital
		2022	2021
		£	£

Authorised, allotted, called up and fully paid

1 (2021 - 1) Ordinary share of £1.00	1	1

The ordinary share has attached to it full voting, dividend and capital distribution (including on winding up) rights. It does not confer any rights of redemption.

9.	Transactions with the director

During the year, the company advanced £96,986 (2021 - £87,913) to the director of which £87,078 (2021 - £50,215) was repaid to the company. As at the year end, the director owed £38,086 (2021 - £28,178) to the company. The loan is unsecured, repayable on demand and interest has been charged.

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DUNLOP FILMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

10.	Pension commitments

The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company amounted to £40,000 (2021 - £NIL).

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