Kent Film Foundation Limited - Limited company accounts 18.2

REGISTERED NUMBER: 07274484 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Kent Film Foundation Limited

Registered Charity No 1138581

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

Ms J Dunn

N Shepherd

SECRETARY:

REGISTERED OFFICE:

10 Cliff Street,

Ramsgate

Kent

CT11 9HS

REGISTERED NUMBER:

07274484 (England and Wales)

ACCOUNTANTS:

Adlam Accountancy Services

22 Grange Road

Ramsgate

Kent

CT11 9LR

The directors present their report with the financial statements of the company for the year ended 31 March 2019.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the provision of Cultural and Artistic

Education to disadvantaged youngsters.

This Limited Company is a Registered Charity (No: 1138581)

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2018 to the date of this report.

Ms J Dunn

N Shepherd

Other changes in directors holding office are as follows:

R Wing - resigned 1 December 2018

DIRECTOR APPOINTED AFTER YEAR END

Mr E Gregory appointed Director on the 1st August 2019.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

E Gregory - Director

16 December 2019

TURNOVER

23,480

41,975

Cost of sales

25,947

28,409

GROSS (DEFICIT)/SURPLUS

(2,467

)

13,566

Administrative expenses

11,764

10,460

OPERATING (DEFICIT)/SURPLUS

4

(14,231

)

3,106

Interest receivable and similar income

4

-

(14,227

)

3,106

Interest payable and similar expenses

157

180

(DEFICIT)/SURPLUS BEFORE TAXATION

(14,384

)

2,926

Tax on (deficit)/surplus

5

-

-

(DEFICIT)/SURPLUS FOR THE FINANCIAL YEAR

(14,384

)

2,926

FIXED ASSETS

Tangible assets

7

3,789

3,631

CURRENT ASSETS

Debtors

8

559

433

Cash at bank and in hand

6,538

21,143

7,097

21,576

CREDITORS

Amounts falling due within one year

9

618

555

NET CURRENT ASSETS

6,479

21,021

TOTAL ASSETS LESS CURRENT LIABILITIES

10,268

24,652

RESERVES

Income and expenditure account

10

10,268

24,652

10,268

24,652

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 surplus or deficit 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 have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 16 December 2019 and were signed on its behalf by:

E Gregory - Director

1.	STATUTORY INFORMATION

Kent Film Foundation Limited is a private company, limited by guarantee , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Equipment

-

15% on reducing balance

Computer equipment

-

15% on reducing balance

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - NIL).

4.	OPERATING (DEFICIT)/SURPLUS

The operating deficit (2018 - operating surplus) is stated after charging:

31.3.19

31.3.18

£

£

Depreciation - owned assets

668

639

5.

TAXATION

This company is a registered charity. It relies entirely on grants and donations etc in order to provide

essential services to disadvantaged young people, to help them to build confidence and self- esteem.

There is therefore no Corporation Tax due.

Some of the funds available at the start of the year have been used in the current year, thereby allowing the

charity to continue at least for a while since insufficient funds were received in the year

A balance on Reserves of £10,268 has been carried forward to be used towards activities in the following year.

6.	RELATED PARTY TRANSACTIONS

Jan Dunn is a trustee and director. She received £16,650 by way of necessary Consultancy Fees in the year.

7.	TANGIBLE FIXED ASSETS

Computer

Equipment

equipment

Totals

£

£

£

COST

At 1 April 2018

10,314

2,016

12,330

Additions

733

93

826

At 31 March 2019

11,047

2,109

13,156

DEPRECIATION

At 1 April 2018

8,397

302

8,699

Charge for year

397

271

668

At 31 March 2019

8,794

573

9,367

NET BOOK VALUE

At 31 March 2019

2,253

1,536

3,789

At 31 March 2018

1,917

1,714

3,631

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Prepayments

559

433

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Other creditors

54

75

Accrued expenses

564

480

618

555

10.

RESERVES

The Accumulated Funds as at 31st March 2019 totalled £10,268 and is represented by:

Restricted Funds - £ 7,495, and

Unrestricted Funds - £ 2,773.