Magic Lantern Productions Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 03195619 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2014

FOR

MAGIC LANTERN PRODUCTIONS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

A W Lilley

T K Todd

D R Wolfe

SECRETARY:

Mrs R J Lilley

REGISTERED OFFICE:

90 Long Acre

Covent Garden

London

WC2E 9RZ

REGISTERED NUMBER:

03195619 (England and Wales)

ACCOUNTANTS:

Smith Pearman

Chartered Accountants

Hurst House

High Street

Ripley

Surrey

GU23 6AY

FIXED ASSETS

Tangible assets

2

27,080

31,771

Investments

3

1

1

27,081

31,772

CURRENT ASSETS

Debtors

251

25,462

Cash at bank and in hand

4,057

1,493

4,308

26,955

CREDITORS

Amounts falling due within one year

4

126,122

219,737

NET CURRENT LIABILITIES

(121,814

)

(192,782

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(94,733

)

(161,010

)

CREDITORS

Amounts falling due after more than one year

250

-

NET LIABILITIES

(94,983

)

(161,010

)

CAPITAL AND RESERVES

Called up share capital

5

107,600

80,700

Share premium

527,427

399,650

Profit and loss account

(730,010

)

(641,360

)

SHAREHOLDERS' FUNDS

(94,983

)

(161,010

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2014 in accordance with Section 476 of the Companies Act 2006.

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 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 Board of Directors on 21 January 2015 and were signed on its behalf by:

A W Lilley - Director

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 April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Deferred tax

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

sheet date.

A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable

taxable profits from which the future reversal of the underlying timing differences can be deducted.

Going concern

At 30 April 2014 the company had net liabilities of £95,354 (2013 £161,011). The financial statements have

been prepared on a going concern basis. The directors have considered the future funding requirement of the

business and based on management forecasts have concluded that the company will have sufficient funds to

ensure that it can meet its financial liabilities as and when they fall due, for a period of at least 12 months from

the date of signing these financial statements.

Investments

Investments held as fixed assets are shown at cost less provision for impairment.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2013

349,939

Additions

4,337

At 30 April 2014

354,276

DEPRECIATION

At 1 May 2013

318,168

Charge for year

9,028

At 30 April 2014

327,196

NET BOOK VALUE

At 30 April 2014

27,080

At 30 April 2013

31,771

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 May 2013

and 30 April 2014

1

NET BOOK VALUE

At 30 April 2014

1

At 30 April 2013

1

4.

CREDITORS

Creditors include an amount of £ 15,075 (2013 - £ 50,443 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

107,600

Ordinary

£1

107,600

80,700

During the year the company alloted 26,900 ordinary shares of £1 each for a consideration of £5.75 per share.