Generation Films Limited - Abbreviated accounts 16.1
Generation Films Limited - Abbreviated accounts 16.1
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts |
| for the Year Ended 31 January 2016 |
| for |
| Generation Films Limited |
| Generation Films Limited (Registered number: 07119282) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 31 January 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| Generation Films Limited |
| Company Information |
| for the Year Ended 31 January 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| Generation Films Limited (Registered number: 07119282) |
| Abbreviated Balance Sheet |
| 31 January 2016 |
| 31.1.16 | 31.1.15 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 3 |
| Profit and loss account | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The directors acknowledge their 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 were approved by the Board of Directors on |
| Generation Films Limited (Registered number: 07119282) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31 January 2016 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared on the going concern basis, the validity of which depends upon the ability of the |
| company to meet its obligations as they fall due. At 31 January 2016 the company's total liabilities exceeded total assets by |
| £39,855. Due to the nature of the business, the company is dependent on the financial support of its investors of £126,163 |
| that are included in long term liabilities. The directors believe this financial support will continue to be available for the |
| foreseeable future. The financial statements do not include any adjustments that would result from a withdrawal of this |
| support. |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention and in accordance with the Financial |
| Reporting Standard for Smaller Entities (effective January 2015). |
| The company was dormant throughout the current year and previous year. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Intangible fixed assets |
| The company has deferred production costs to future periods. The directors consider that there is a defined project that is |
| technically feasible and is commercially viable.The aggregate of the deferred costs and further development costs and related |
| production, selling and administration costs are reasonably expected to be exceeded by related future income. The costs will |
| be amortised when the commercial production has commence to generate income.This will be on a systematic basis to the |
| accounting period by reference to the expected sales. The deferred costs will be reviewed at the end of each accounting |
| period and if the justification is considered doubtful the expenditure will be written off immediately. |
| 2. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 February 2015 |
| and 31 January 2016 |
| NET BOOK VALUE |
| At 31 January 2016 |
| At 31 January 2015 |
| 3. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.1.16 | 31.1.15 |
| value: | £ | £ |
| Ordinary | £1 |