YOUNG FILM ACADEMY LIMITED

YOUNG FILM ACADEMY LIMITED

YOUNG FILM ACADEMY LIMITED - Company Information

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YOUNG FILM ACADEMY LIMITED

Company Registration Number:
06506509 (England and Wales)

Unaudited abridged accounts for the year ended 31 January 2020

Period of accounts

Start date: 01 February 2019

End date: 31 January 2020

YOUNG FILM ACADEMY LIMITED

Contents of the Financial Statements

for the Period Ended 31 January 2020

Balance sheet
Notes

YOUNG FILM ACADEMY LIMITED

Balance sheet

As at 31 January 2020


Notes
2020
2019


£
£
Fixed assets
Tangible assets: 3 0 368
Total fixed assets: 0 368
Current assets
Debtors:   58,880 101,007
Cash at bank and in hand: 52,003 69,654
Total current assets: 110,883 170,661
Creditors: amounts falling due within one year:   (72,803) (68,857)
Net current assets (liabilities): 38,080 101,804
Total assets less current liabilities: 38,080 102,172
Total net assets (liabilities): 38,080 102,172
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 38,078 102,170
Shareholders funds: 38,080 102,172

The notes form part of these financial statements

YOUNG FILM ACADEMY LIMITED

Balance sheet statements

For the year ending 31 January 2020 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 25 January 2021
and signed on behalf of the board by:

Name: J Walker
Status: Director

The notes form part of these financial statements

YOUNG FILM ACADEMY LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2020

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

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.

Tangible fixed assets and depreciation policy

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:Fixtures, fittings & equipment - 25%

YOUNG FILM ACADEMY LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2020

2. Employees

2020 2019
Average number of employees during the period 2 2

YOUNG FILM ACADEMY LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2020

3. Tangible Assets

Total
Cost £
At 01 February 2019 1,475
At 31 January 2020 1,475
Depreciation
At 01 February 2019 1,107
Charge for year 368
At 31 January 2020 1,475
Net book value
At 31 January 2020 0
At 31 January 2019 368

YOUNG FILM ACADEMY LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2020

4. Related party transactions

Name of the related party: Magma Pictures Limited
Relationship:
The directors of Magma Pictures Limited are also the directors of this company.
Description of the Transaction: Loan to company
£
Balance at 01 February 2019 101,007
Balance at 31 January 2020 58,880
Name of the related party: Genie Film Limited
Relationship:
The directors of Genie Film Limited are also directors of the company.
Description of the Transaction: Loan from company.
£
Balance at 01 February 2019 52,123
Balance at 31 January 2020 52,123