Poisson Rouge Pictures Ltd Filleted accounts for Companies House (small and micro)

POISSON ROUGE PICTURES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 3615293

Poisson Rouge Pictures Ltd

Filleted Unaudited Accounts

30 April 2020

Poisson Rouge Pictures Ltd

Statement of Financial Position

30 April 2020

	2020		2019
Note	£	£	£

Fixed assets

Tangible assets	5		722	277

Current assets

Stocks		63,516	70,606
Debtors	6	3,925	4,659
Cash at bank and in hand		79,368	136,650
		---------	---------
		146,809	211,915

Creditors: amounts falling due within one year	7	( 67,863)		( 112,293)
		---------		---------
Net current assets			78,946	99,622
			--------	--------
Total assets less current liabilities			79,668	99,899
			--------	--------
Net assets			79,668	99,899
			--------	--------

Capital and reserves

Called up share capital	1,500	1,500
Share premium account	119,500	119,500
Profit and loss account	( 41,332)	( 21,101)
	---------	---------
Shareholders funds	79,668	99,899
	---------	---------

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with 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 income and retained earnings has not been delivered.

For the year ending 30 April 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts .

Poisson Rouge Pictures Ltd

Statement of Financial Position (continued)

30 April 2020

These accounts were approved by the board of directors and authorised for issue on 9 October 2020 , and are signed on behalf of the board by:

C P Granier-Deferre
Director

Company registration number: 3615293

Poisson Rouge Pictures Ltd

Notes to the Accounts

Year ended 30 April 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hurlingham Studios, Ranelagh Gardens, London, SW6 3PA.

2. Statement of compliance

These accounts 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 accounts have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The accounts are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying small entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under section 1A of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is derived from a development and production of theatrical feature films and is stated net of Value Added Tax. Turnover is not recognised until there is certainty over the right to consideration.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Fixtures and Fittings	-	33% straight line
Computer Equipment	-	33% straight line

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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2019: 2 ).

5. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 May 2019	2,863	11,095	13,958
Additions	–	1,083	1,083
	-------	--------	--------
At 30 April 2020	2,863	12,178	15,041
	-------	--------	--------
Depreciation
At 1 May 2019	2,863	10,818	13,681
Charge for the year	–	638	638
	-------	--------	--------
At 30 April 2020	2,863	11,456	14,319
	-------	--------	--------
Carrying amount
At 30 April 2020	–	722	722
	-------	--------	--------
At 30 April 2019	–	277	277
	-------	--------	--------

6. Debtors

	2020	2019
	£	£
Trade debtors	400	–
Other debtors	3,525	4,659
	-------	-------
	3,925	4,659
	-------	-------

7. Creditors: amounts falling due within one year

	2020	2019
	£	£
Trade creditors	2,250	4,668
Other creditors	65,613	107,625
	--------	---------
	67,863	112,293
	--------	---------

8. Related party transactions

The ultimate controlling party is C P Granier-Deferre , a director. During the year C P Granier-Deferre , the director, incurred various expenses to the value of £21,889 (2019: £30,180) on behalf of the company, and also, was paid a salary of £5,500 (2019: £5,000). The amount due to the director at the year end was £Nil (2019: £139). No further transactions were undertaken as are required to be disclosed under FRS 102 Section 1A.