Riverstone Pictures (AEG) Limited Filleted accounts for Companies House (small and micro)

Riverstone Pictures (AEG) Limited Filleted accounts for Companies House (small and micro)

RIVERSTONE PICTURES (AEG) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 10890001
Riverstone Pictures (AEG) Limited
Filleted Financial Statements
31 March 2020
Riverstone Pictures (AEG) Limited
Statement of Financial Position
31 March 2020
2020
2019
Note
$
$
Current assets
Debtors
4
24,000
1,113,482
Cash at bank and in hand
1
3,523
--------
------------
24,001
1,117,005
Creditors: amounts falling due within one year
5
23,877
1,116,874
--------
------------
Net current assets
124
131
----
----
Total assets less current liabilities
124
131
----
----
Net assets
124
131
----
----
Capital and reserves
Called up share capital
131
131
Profit and loss account
( 7)
–
----
----
Shareholders funds
124
131
----
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
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.
These financial statements were approved by the board of directors and authorised for issue on 30 September 2020 , and are signed on behalf of the board by:
Mr N Bower
Director
Company registration number: 10890001
Riverstone Pictures (AEG) Limited
Notes to the Financial Statements
Year ended 31 March 2020
1. General information
The company is a private company limited by shares, incorporated in England and Wales. The address of the registered office is 99 Kenton Road, Kenton, Harrow, Middlesex, HA3 0AN and its principal place of business is at 72 Wells Street, London, W1T 3QF. The company's registered number is 10890001 .
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the method used to translate the issued share capital to US Dollars, and in accordance with applicable accounting standards. The financial statements are prepared in US Dollars, which is the functional and presentation currency of the company. The financial statements have been prepared on break-up basis as the directors intend to cease trading after the year end.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of Value Added Tax
Foreign currencies
Assets and liabilities in foreign currencies are translated into US Dollar at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into US Dollar at the average rate of exchange ruling at beginning of the month of the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Foreign currencies
Assets and liabilities in foreign currencies are translated into US Dollar at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into US Dollar at the average rate of exchange ruling at beginning of the month of the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Debtors
2020
2019
$
$
Amounts owed by group undertakings and undertakings in which the company has a participating interest
123
–
Other debtors
23,877
1,113,482
--------
------------
24,000
1,113,482
--------
------------
The amounts owed to group undertakings are unsecured, interest free and repayable on demand.
5. Creditors: amounts falling due within one year
2020
2019
$
$
Trade creditors
23,877
685,505
Amounts owed to group undertakings and undertakings in which the company has a participating interest
–
3,392
Other creditors
–
427,977
--------
------------
23,877
1,116,874
--------
------------
The amounts owed to group undertakings are unsecured, interest free and repayable on demand.
6. Charges
Sinload Productions Limited and Spk Pictures Ag hold a charge on the company over all sums due or to become due which entitles it to the right, title, interest and benefits in and to the company's film.
7. Summary audit opinion
The auditor's report for the year dated 30 September 2020 was unqualified.
The senior statutory auditor was SIRISHKUMAR V MALDE FCCA , for and on behalf of Malde & Co .
8. Related party transactions
The company has taken advantage of the exemption conferred by Financial Reporting Standard 102 from disclosing details of transactions with other wholly owned group companies.
9. Controlling party
The controlling party is Riverstone Pictures Limited . The parent undertaking of the largest and smallest group of undertakings for which group accounts have been prepared is, Riverstone Pictures Limited whose registered office address is, 99 Kenton Road, Kenton, Harrow, Middlesex, HA3 0AN . Copies of the group accounts of Riverstone Pictures Limited are available from Companies House, Crown Way, Cardiff CF14 3UZ.