ACCOUNTS - Final Accounts
ACCOUNTS - Final Accounts
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Registered number:
Unaudited
For the year ended
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Low Phat Films Limited
Company Information
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Low Phat Films Limited
Contents
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Low Phat Films Limited
Director's report
For the year ended 31 December 2016
The director presents her report and the financial statements for the year ended 31 December 2016.
The director who served during the year was:
This report was approved by the board on
Page 1
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Low Phat Films Limited
Chartered accountants' report to the director on the preparation of the unaudited statutory financial statements of Low Phat Films Limited for the year ended 31 December 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Low Phat Films Limited for the year ended 31 December 2016 which comprise the Statement of income and retained earnings, the Balance sheet and the related notes from the Company accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/ members/regulations-standards-and-guidance/.
This report is made solely to the director of Low Phat Films Limited in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Low Phat Films Limited and state those matters that we have agreed to state to the director of Low Phat Films Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Low Phat Films Limited and its director for our work or for this report.
It is your duty to ensure that Low Phat Films Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit or loss of Low Phat Films Limited. You consider that Low Phat Films Limited is exempt from the statutory audit requirement for the year.
Chartered Accountants
Montague Place
Quayside
Chatham Maritime
Kent
ME4 4QU
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Low Phat Films Limited
Statement of income and retained earnings
For the year ended 31 December 2016
Page 3
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Low Phat Films Limited
Registered number: 03452128
Balance sheet
As at
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 5 to 6 form part of these financial statements.
Page 4
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Low Phat Films Limited
Notes to the financial statements
For the year ended 31 December 2016
Low Phat Films Limited is a private company limited by shares incorporated in England & Wales. The registered office is at Montague Place Quayside, Chatham Maritime, Chatham, Kent, ME4 4QU.
2.Accounting policies
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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
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.
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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Low Phat Films Limited
Notes to the financial statements
For the year ended 31 December 2016
The controlling party is Great Guns Limited.
Page 6
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