Chapter One Pictures Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11202905 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2019

for

Chapter One Pictures Limited

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

S J Donald

Ms N C Galloway

R Holroyd

J K Redmon

Ms J A Shields

Ms S M Gardiner

D J Levine

REGISTERED OFFICE:

Second Floor

22 James Street

London

WC2E 8NS

REGISTERED NUMBER:

11202905 (England and Wales)

ACCOUNTANTS:

Clay Knox Ltd

First Floor, St Johns House

16 Church Street

Bromsgrove

Worcestershire

B61 8DN

FIXED ASSETS

Tangible assets

4

12,075

14,849

CURRENT ASSETS

Stocks

290,473

-

Debtors

609,100

83,129

Cash at bank

119,453

140,032

1,019,026

223,161

CREDITORS

Amounts falling due within one year

2,127,375

50,180

NET CURRENT (LIABILITIES)/ASSETS

(1,108,349

)

172,981

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,096,274

)

187,830

CREDITORS

Amounts falling due after more than one year

-

678,753

NET LIABILITIES

(1,096,274

)

(490,923

)

CAPITAL AND RESERVES

Called up share capital

5

16

16

Retained earnings

(1,096,290

)

(490,939

)

SHAREHOLDERS' FUNDS

(1,096,274

)

(490,923

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 December 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 August 2020 and were signed on its behalf by:

Ms S M Gardiner - Director

1.	STATUTORY INFORMATION

Chapter One Pictures Limited is a private company, limited by shares , registered in England and Wales. The company's

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

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

For the year ended 31 December 2019 the company incurred a net loss of £605,351 (2018 - £490,939) and had net

liabilities of £1,096,274 (2018 - £490,923). The accounts have been prepared on a going concern basis as it is the opinion

of the directors that the company will have sufficient resources to continue trading and the main shareholders have

expressed their willingness to continue to support the company for the foreseeable future.

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 is estimated useful life.

Leasehold property improvements - 12.5% on cost

Office equipment - 33% on cost

Fixtures and fittings - 33% on cost

Work in progress

Work in progress is valued at the lower of cost and net realisable value

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained

Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme

are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2018 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2019

16,292

Additions

1,848

At 31 December 2019

18,140

DEPRECIATION

At 1 January 2019

1,443

Charge for year

4,622

At 31 December 2019

6,065

NET BOOK VALUE

At 31 December 2019

12,075

At 31 December 2018

14,849

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

15,879

Ordinary

£0.01

16

16