Abbreviated Company Accounts - PANIC HOUSE FILMS LIMITED

Abbreviated Company Accounts - PANIC HOUSE FILMS LIMITED


Registered Number 09138175

PANIC HOUSE FILMS LIMITED

Abbreviated Accounts

31 July 2015

PANIC HOUSE FILMS LIMITED Registered Number 09138175

Abbreviated Balance Sheet as at 31 July 2015

Notes 2015
£
Current assets
Debtors 38,023
Cash at bank and in hand 43,633
81,656
Creditors: amounts falling due within one year (26,751)
Net current assets (liabilities) 54,905
Total assets less current liabilities 54,905
Total net assets (liabilities) 54,905
Capital and reserves
Called up share capital 2 3,735
Share premium account 120,665
Profit and loss account (69,495)
Shareholders' funds 54,905
  • For the year ending 31 July 2015 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 18 April 2016

And signed on their behalf by:
P Kirtley, Director

PANIC HOUSE FILMS LIMITED Registered Number 09138175

Notes to the Abbreviated Accounts for the period ended 31 July 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008. As at 31 July 2015, the company's balance sheet showed a negative profit and loss account. The company is expected to generate a profit within the next 12 months of the signing of the financial statements, and therefore the director considers it appropriate to prepare financial statements on a going concern basis.

Other accounting policies
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.

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).

2Called Up Share Capital
Allotted, called up and fully paid:
2015
£
3,735Ordinary shares of £1 each 3,735

On incorporation the company issued 3,600 ordinary £1 shares at par. During the period, a further 135 ordinary £1 shares were issued at a premium of £999 per share. Financing fees of £14,200 were deducted from the share premium total of £134,865 to leave a balance of £120,665 as at the balance sheet date.