ACCOUNTS - Final Accounts

ACCOUNTS - Final Accounts

SHOEBOX FILMS LIMITED - Company Information

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Caseware UK (AP4) 2019.0.131 2019.0.131 2020-03-312020-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.3false2019-04-01No description of principal activity3truetrue 06234800 2019-04-01 2020-03-31 06234800 2018-04-01 2019-03-31 06234800 2020-03-31 06234800 2019-03-31 06234800 c:Director1 2019-04-01 2020-03-31 06234800 c:Director2 2019-04-01 2020-03-31 06234800 c:Director3 2019-04-01 2020-03-31 06234800 d:CurrentFinancialInstruments 2020-03-31 06234800 d:CurrentFinancialInstruments 2019-03-31 06234800 d:CurrentFinancialInstruments d:WithinOneYear 2020-03-31 06234800 d:CurrentFinancialInstruments d:WithinOneYear 2019-03-31 06234800 d:ShareCapital 2020-03-31 06234800 d:ShareCapital 2019-03-31 06234800 d:RetainedEarningsAccumulatedLosses 2020-03-31 06234800 d:RetainedEarningsAccumulatedLosses 2019-03-31 06234800 c:FRS102 2019-04-01 2020-03-31 06234800 c:AuditExemptWithAccountantsReport 2019-04-01 2020-03-31 06234800 c:FullAccounts 2019-04-01 2020-03-31 06234800 c:PrivateLimitedCompanyLtd 2019-04-01 2020-03-31 iso4217:GBP xbrli:pure

Registered number: 06234800









SHOEBOX FILMS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2020
 
SHOEBOX FILMS LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SHOEBOX FILMS LIMITED
FOR THE YEAR ENDED 31 MARCH 2020

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Shoebox Films Limited for the year ended 31 March 2020 which comprise  the Statement of financial position  and the related notes from the Company's 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 Board of directors of Shoebox Films Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Shoebox Films Limited and state those matters that we have agreed to state to the Board of directors of Shoebox Films Limited, as a body, 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 Shoebox Films Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Shoebox 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 loss of Shoebox Films Limited. You consider that Shoebox Films Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Shoebox Films Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Harris & Trotter LLP
 
Chartered Accountants
64 New Cavendish Street
London
W1G 8TB
7 July 2020
Page 1
 
SHOEBOX FILMS LIMITED
REGISTERED NUMBER: 06234800

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2020

2020
2019
Note
£
£

Current assets
  

Debtors: amounts falling due within one year
 4 
3,056
12,105

Cash at bank and in hand
 5 
101,962
100,813

  
105,018
112,918

Creditors: amounts falling due within one year
 6 
(34,091)
(34,476)

Net current assets
  
 
 
70,927
 
 
78,442

Total assets less current liabilities
  
70,927
78,442

Net assets
  
70,927
78,442


Capital and reserves
  

Called up share capital 
  
3
3

Profit and loss account
  
70,924
78,439

  
70,927
78,442


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 year in question in accordance with section 476 of the 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 on 7 July 2020.


J M Wright
P Webster
Director
Director

G Heeley
Director


The notes on pages 3 to 5 form part of these financial statements.

Page 2
 
SHOEBOX FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020

1.


General information

Shoebox Films Limited is a private Company limited by shares and incorporated in England and Wales. Its registered office is 6 Palatine Avenue, London, England, N16 8XH. The principal activity of the Company continues to be that of artisitic creation.

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 discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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.

 
2.4

Debtors

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.

Page 3
 
SHOEBOX FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020

2.Accounting policies (continued)

 
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. 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.

 
2.6

Creditors

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2019 - 3).


4.


Debtors

2020
2019
£
£

Trade debtors
2,400
9,000

Prepayments and accrued income
656
3,105

3,056
12,105



5.


Cash and cash equivalents

2020
2019
£
£

Cash at bank and in hand
101,962
100,813

101,962
100,813


Page 4
 
SHOEBOX FILMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020

6.


Creditors: Amounts falling due within one year

2020
2019
£
£

Trade creditors
3,000
64

Amounts owed to group undertakings
19,710
19,710

Corporation tax
-
25

Other taxation and social security
1,185
3,531

Other creditors
8,146
8,146

Accruals and deferred income
2,050
3,000

34,091
34,476


Page 5