SHARPE FILM LIMITED Filleted accounts for Companies House (small and micro)
SHARPE FILM LIMITED Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
02259408
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Statement of Financial Position |
2019 |
2018 |
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Note |
£ |
£ |
£ |
Current assets
Debtors |
5 |
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Cash at bank and in hand |
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------- |
------- |
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Creditors: amounts falling due within one year |
6 |
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Net current liabilities |
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Total assets less current liabilities |
(
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(
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Net liabilities |
(
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(
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Capital and reserves
Called up share capital |
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Profit and loss account |
(
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(
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Shareholders deficit |
(
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(
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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These financial statements were approved by the
board of directors
and authorised for issue on
27 January 2020
, and are signed on behalf of the board by:
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Director |
Company registration number:
02259408
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Notes to the Financial Statements |
Year ended 29 April 2019
1.
General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is 9 Orme Court, London, W2 4RL.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Revenue recognition
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment |
- |
25
% reducing balance |
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4.
Tangible assets
Equipment |
Total |
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£ |
£ |
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Cost |
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At 30 April 2018 and 29 April 2019 |
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Depreciation |
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At 30 April 2018 and 29 April 2019 |
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Carrying amount |
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At 29 April 2019 |
– |
– |
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At 29 April 2018 |
– |
– |
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5.
Debtors
2019 |
2018 |
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£ |
£ |
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Other debtors |
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------- |
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6.
Creditors:
amounts falling due within one year
2019 |
2018 |
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£ |
£ |
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Trade creditors |
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Amounts owed to associated undertakings-CFE |
7,548 |
7,548 |
Other creditors |
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Other creditors include director's loan of £6,389 (2018: £6,389).
7.
Related party transactions
Sharpe Film Limited is jointly owned by Mrs M.Sutherland(50%) and Ms R.G.Glaister(50%). Mrs Sutherland also controls Celtic Films Entertainment Ltd and Ms R.G.Glaister controls Picture Palace Films Ltd. During the year ended 29th April 2019. Sharpe Film Limited has had the following material transactions with its related parties: RELATED PARTIES Picture Celtic Films Palace Entertainment Films Ltd Ltd £ £ Distribution Payments re Sharpe Series 17,970 (2018: 55,563) 17,731 (2018: 55,563)