ACCOUNTS - Final Accounts

Creditors: Amounts falling due within one year

Caseware UK (AP4) 2016.0.181 2016.0.181 2018-03-312018-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalseNo description of principal activityfalse2017-08-01 09552294 2017-08-01 2018-03-31 09552294 2018-03-31 09552294 2017-07-31 09552294 c:Director1 2017-08-01 2018-03-31 09552294 d:CurrentFinancialInstruments 2018-03-31 09552294 d:CurrentFinancialInstruments 2017-07-31 09552294 d:CurrentFinancialInstruments d:WithinOneYear 2018-03-31 09552294 d:CurrentFinancialInstruments d:WithinOneYear 2017-07-31 09552294 d:ShareCapital 2018-03-31 09552294 d:ShareCapital 2017-07-31 09552294 c:FRS102 2017-08-01 2018-03-31 09552294 c:AuditExempt-NoAccountantsReport 2017-08-01 2018-03-31 09552294 c:FullAccounts 2017-08-01 2018-03-31 09552294 c:PrivateLimitedCompanyLtd 2017-08-01 2018-03-31 iso4217:GBP

Registered number: 09552294

EXODUS FILMS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2018

EXODUS FILMS LIMITED

REGISTERED NUMBER: 09552294

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2018

	31 March	31 March	31 July	31 July
	2018	2018	2017	2017
Note	£	£	£	£


Current assets
Debtors: amounts falling due within one year	4	31,663		1,648
Cash at bank and in hand		20,707		27,152
		52,370		28,800
Creditors: amounts falling due within one year	5	(52,368)		(28,798)
Net current assets			2		2
Total assets less current liabilities			2		2

Net assets			2		2

Capital and reserves
Called up share capital	2	2
	2	2

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the period in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

J S Battsek

Director

Date: 27 June 2018

The notes on pages 2 to 4 form part of these financial statements.

Page 1

EXODUS FILMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2018

1.	General information

Exodus Films Limited is a private company limited by shares, incorporated in the United Kingdom and registered in England & Wales. The address of the registered office is 33-34 Rathbone Place, London, United Kingdom, W1T 1JN and its principal place of business 3rd Floor, Kirkman House, 12-14 Whitfield Street, London, W1T 2RF.

2.Accounting policies

2.1

Basis of preparation of financial statements

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:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding rebates, value added tax and other sales taxes.

Turnover in the statement of comprehensive income relates to amounts earned in relation to film production. Production funding is recognised in the statement of comprehensive income over the period of the production. Where production funds received exceed costs incurred to date, the balance is treated as deferred income and held on the balance sheet until further costs are incurred. At this point the deferred income is released to the statement of comprehensive income as turnover.

2.3

Cost of sales

Film production costs incurred in producing a film are recognised in the statement of comprehensive income as cost of sales in the period in which they are incurred.

2.4

Debtors

Short term debtors are measured at transaction price, less any impairment.

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.6

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

Page 2

EXODUS FILMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2018

2.Accounting policies (continued)

2.7

Creditors

Short term creditors are measured at the transaction price.

2.8

Functional and presentational currency

The company's functional and presentational currency is GBP.

2.9

Taxation

Tax is recognised in the Statement of comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

2.10

Change in accounting period

The financial reporting date has been changed from 31 July to 31 March and so the current and prior period figures shown within the financial statements are not entirely comparable. The financial reporting date was shortened as the film being produced had been completed.

2.11

Comparative figures

The comparative figures represent the year ended 31 July 2017.

Employees

The average monthly number of employees, including directors, during the period was 2 (2017 - 2).

Debtors

					31 March	31 July
					2018	2017
					£	£


Other debtors	31,663	1,648

Page 3

EXODUS FILMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2018

Trade creditors	30,712	7,385
Accruals and deferred income	21,656	21,413
	52,368	28,798

6.	Related party transactions
	Mr J Battsek and Mr A Ruhemann are directors and shareholders of the company's parent company, Passion Pictures (Films) Limited. During the period, Passion Pictures (Films) Limited charged the company £21,807 (2017: £35,270) in respect of production fees and recharged costs. At the year end the company owed £21,621 (2017: £nil) to Passion Pictures (Films) Limited.

Page 4