ACCOUNTS - Final Accounts

DLT ENTERTAINMENT DEVELOPMENT LIMITED - Company Information

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Registered number: 09613505

DLT ENTERTAINMENT DEVELOPMENT LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2019

DLT ENTERTAINMENT DEVELOPMENT LIMITED

REGISTERED NUMBER: 09613505

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2019

		2019		2018
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	45,331		38,254
Cash at bank and in hand	5	142,064		225,139
		187,395		263,393
Creditors: amounts falling due within one year	6	(20,934)		(37,641)
Net current assets			166,461		225,752
Total assets less current liabilities			166,461		225,752

Net assets			166,461		225,752

Capital and reserves
Called up share capital	3,000	3,000
Share premium account	297,000	297,000
Profit and loss account	(133,539)	(74,248)
	166,461	225,752

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 January 2021.

J Cotugno

Director

The notes on pages 2 to 4 form part of these financial statements.

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DLT ENTERTAINMENT DEVELOPMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

1.	General information

DLT Entertainment Development Limited is a private company limited by shares and is incorporated in England and Wales. The address of its registered office is 10 Bedford Square, London WC1B 3RA.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

The company meets its day to day working capital requirements through equity investments.
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors therefore continue to adopt the going concern basis in preparing the financial statements.

2.3

Revenue

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. Format fees and developers share of net profits of the production are recognised on delivery.

2.4

Debtors

Short term debtors are measured at transaction price, less any impairment.

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.6

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from related parties.

2.7

Creditors

Short term creditors are measured at the transaction price.

Employees

The average monthly number of employees, including directors, during the year was 3 (2018 - 3).

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DLT ENTERTAINMENT DEVELOPMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

Debtors

					2019	2017
					£	£


Other debtors	45,331	38,254
	45,331	38,254

5.	Cash and cash equivalents
		2019	2017
		£	£

Cash at bank and in hand	142,064	225,139
	142,064	225,139

6.	Creditors: Amounts falling due within one year
		2019	2018
		£	£

Amounts owed to group undertakings	13,314	32,871
Other creditors	7,620	4,770
	20,934	37,641

7.	Related party transactions
	During the year the company received loan funding of £nil (2018: £10,514) from DLT Entertainment UK Limited, a company in which D L Taffner Jnr and J Cotugno are also directors. At the balance sheet date £13,314 (2018: £32,871) was due to DLT Entertainment UK Limited.

8.	Post balance sheet events

On 3 April 2017 the company issued 620 'A' shares of £1 each at a premium of £99, for a total cash consideration of £62,000.

9.	Controlling party

The ultimate controlling party is D L Taffner Jnr.

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DLT ENTERTAINMENT DEVELOPMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

10.	Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2019 was unqualified.

The audit report was signed on 29 January 2021 by Jennifer Pope (Senior Statutory Auditor) on behalf of Nyman Libson Paul LLP.

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