Abbreviated Company Accounts - 10 THINGS FILMS LIMITED

Abbreviated Company Accounts - 10 THINGS FILMS LIMITED

Registered Number 08136318


Abbreviated Accounts

30 July 2014

10 THINGS FILMS LIMITED Registered Number 08136318

Abbreviated Balance Sheet as at 30 July 2014

Notes 2014 2013
£ £
Fixed assets
Investments 2 1 1
1 1
Current assets
Debtors 3,438,289 3,069,781
Cash at bank and in hand 1,778 335
3,440,067 3,070,116
Creditors: amounts falling due within one year (29,009) (73,039)
Net current assets (liabilities) 3,411,058 2,997,077
Total assets less current liabilities 3,411,059 2,997,078
Total net assets (liabilities) 3,411,059 2,997,078
Capital and reserves
Called up share capital 3 13,913 11,747
Share premium account 3,557,522 3,101,888
Profit and loss account (160,376) (116,557)
Shareholders' funds 3,411,059 2,997,078
  • For the year ending 30 July 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 26 November 2015

And signed on their behalf by:
Mr G Smith, Director

10 THINGS FILMS LIMITED Registered Number 08136318

Notes to the Abbreviated Accounts for the period ended 30 July 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

At 30 July 2014 the company's balance sheet showed a negative profit and loss account. The directors have pledged their continued support to provide financial assistance to the company as required and as such believe it is appropriate to prepare the accounts on a going concern basis, which assumes that the company will continue in operational existence for the forseeable future. If the company was unable to continue in operational existence for the forseeable future, adjustments would have to be made to reduce the balance sheet values of assets to their recoverable amounts and to provide any further liabilities that might arise, and to reclassify assets and long term liabilities as current assets and liabilities.

Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

Other accounting policies
Revenue Recognition
Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for its services of film production.

Deferred Taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

2Fixed assets Investments
Fixed asset investments are stated at cost less provision for diminution in value.

3Called Up Share Capital
Allotted, called up and fully paid:
13,913 Ordinary shares of £1 each (11,747 shares for 2013) 13,913 11,747

During the year the company issued 1,200 ordinary £1 shares at par. The company issued a further 966 shares at a premium of £499 per share.

The total consideration received by the company during the period for all share issues was £483,000, giving a share premium of £482,034. Costs pertaining to the share allotment and related transactions amounting to £26,400 have been deducted from the total which leaves a balance of £3,557,522 (2013; £3,101,888) for share premium at the balance sheet date.