Enemy Lines Films Limited - Period Ending 2020-03-31
Enemy Lines Films Limited - Period Ending 2020-03-31
Registration number:
Enemy Lines Films Limited
for the Year Ended 31 March 2020
Enemy Lines Films Limited
Contents
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Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Enemy Lines Films Limited
Company Information
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Directors |
Mr T C George Mr A Thompson |
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Registered office |
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Accountants |
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Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Enemy Lines 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 accounts of Enemy Lines Films Limited for the year ended 31 March 2020 as set out on pages 3 to 6 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/regulation.
This report is made solely to the Board of Directors of Enemy Lines 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 accounts of Enemy Lines Films Limited and state those matters that we have agreed to state to the Board of Directors of Enemy Lines Films Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Enemy Lines Films Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Enemy Lines Films Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Enemy Lines Films Limited. You consider that Enemy Lines Films Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Enemy Lines 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 accounts.
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Quays Office Park
Conference Avenue
Portishead
Bristol
BS20 7LZ
Enemy Lines Films Limited
(Registration number: 11232734)
Balance Sheet as at 31 March 2020
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Note |
2020 |
2019 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
2 |
2 |
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Share premium reserve |
36,382 |
36,382 |
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Profit and loss account |
(375,257) |
(264,450) |
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Shareholders' deficit |
(338,873) |
(228,066) |
For the financial year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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 accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Director
Enemy Lines Films Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis. The going concern basis is based upon continued support of Happy Hour Productions Limited, which is a company owned and operated by the principal shareholders of Enemy Lines Films Limited.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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 taxable income.
Enemy Lines Films Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Enemy Lines Films Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
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Debtors |
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2020 |
2019 |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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2020 |
2019 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
- |
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Taxation and social security |
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- |
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Accruals and deferred income |
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Loans and borrowings |
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2020 |
2019 |
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Current loans and borrowings |
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Other borrowings |
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Other borrowings
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The loan from Happy Hour Productions Limited is denominated in sterling with a nominal interest rate of 7.5%. The carrying amount at year end is £395,145 (2019 - £270,861). The loan is secured against the retail film rights. |
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Related party transactions |
Summary of transactions with other related parties