Velvet Film Production Limited - Abbreviated accounts 16.3

Velvet Film Production Limited - Abbreviated accounts 16.3


061958111.9.1531.8.1631.8.16Company accountsPrivate Limited CompanyFYtruefalsetruefalsetruefalsetruefalseOrdinary A1.00000iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure061958112015-08-31061958112016-08-31061958112015-09-012016-08-31061958112014-08-31061958112014-09-012015-08-31061958112015-08-3106195811ns12:England2015-09-012016-08-3106195811ns14:PoundSterling2015-09-012016-08-3106195811ns7:Director12015-09-012016-08-3106195811ns7:OrdinaryShareClass12015-09-012016-08-3106195811ns7:RegisteredOffice2015-09-012016-08-3106195811ns7:EntityAccountantsOrAuditors2015-09-012016-08-3106195811ns7:OrdinaryShareClass12016-08-3106195811ns7:OrdinaryShareClass12015-08-31
REGISTERED NUMBER: 06195811(England and Wales)


















ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2016

FOR

VELVET FILM PRODUCTION LIMITED

VELVET FILM PRODUCTION LIMITED (REGISTERED NUMBER: 06195811)






CONTENTS OF THE ABBREVIATED ACCOUNTS
for the Year Ended 31 August 2016




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

VELVET FILM PRODUCTION LIMITED

COMPANY INFORMATION
for the Year Ended 31 August 2016







DIRECTOR: G Cowan





REGISTERED OFFICE: 18th Floor
Blue Tower
Media City UK
Salford Quays
Greater Manchester
M50 2ST





REGISTERED NUMBER: 06195811(England and Wales)





ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

VELVET FILM PRODUCTION LIMITED (REGISTERED NUMBER: 06195811)

ABBREVIATED BALANCE SHEET
31 August 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 83,408 106,701

CURRENT ASSETS
Debtors 132,351 141,996
Cash at bank and in hand 236,921 311,022
369,272 453,018
CREDITORS
Amounts falling due within one year 90,788 203,093
NET CURRENT ASSETS 278,484 249,925
TOTAL ASSETS LESS CURRENT
LIABILITIES

361,892

356,626

CREDITORS
Amounts falling due after more than one
year

(3,642

)

(4,856

)

PROVISIONS FOR LIABILITIES (16,700 ) (19,600 )
NET ASSETS 341,550 332,170

CAPITAL AND RESERVES
Called up share capital 3 1 1
Profit and loss account 341,549 332,169
SHAREHOLDERS' FUNDS 341,550 332,170

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2016 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.

VELVET FILM PRODUCTION LIMITED (REGISTERED NUMBER: 06195811)

ABBREVIATED BALANCE SHEET - continued
31 August 2016


The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the director on 18 April 2017and were signed by:





G Cowan- Director


VELVET FILM PRODUCTION LIMITED (REGISTERED NUMBER: 06195811)

NOTES TO THE ABBREVIATED ACCOUNTS
for the Year Ended 31 August 2016

1. ACCOUNTING POLICIES

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).

Turnover
Turnover represents the net invoice value of services provided, excluding value added tax.

Tangible fixed assets
Tangible fixed assets are included at cost less depreciation.

Depreciation is provided at the following rates in order to write off the cost less estimated residual value of each
asset over its estimated useful life.

Fixtures and fittings-15% on reducing balance
Motor vehicles-25% on reducing balance
Computer equipment-33% on cost

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at
the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to the profit and loss account in the period to which they relate.

Government grants
Government grants are credited to the profit and loss account by instalments over the expected useful economic
life of the related asset on a basis consistent with the depreciation policy.

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 September 2015 111,258
Additions 4,083
At 31 August 2016 115,341
DEPRECIATION
At 1 September 2015 4,557
Charge for year 27,376
At 31 August 2016 31,933
NET BOOK VALUE
At 31 August 2016 83,408
At 31 August 2015 106,701

VELVET FILM PRODUCTION LIMITED (REGISTERED NUMBER: 06195811)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
for the Year Ended 31 August 2016

3. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
1 Ordinary A £1 1 1