ACCOUNTS - Final Accounts

ACCOUNTS - Final Accounts

DOMMEREN LIMITED - Company Information

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Caseware UK (AP4) 2020.0.247 2020.0.247 2020-12-312020-12-31motion picture and video productionThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2020-01-012falsetruetrue2 SC271928 2020-01-01 2020-12-31 SC271928 2019-01-01 2019-12-31 SC271928 2020-12-31 SC271928 2019-12-31 SC271928 c:Director1 2020-01-01 2020-12-31 SC271928 c:Director4 2020-01-01 2020-12-31 SC271928 c:RegisteredOffice 2020-01-01 2020-12-31 SC271928 d:ShareCapital 2020-12-31 SC271928 d:ShareCapital 2019-12-31 SC271928 d:RetainedEarningsAccumulatedLosses 2020-12-31 SC271928 d:RetainedEarningsAccumulatedLosses 2019-12-31 SC271928 c:FRS102 2020-01-01 2020-12-31 SC271928 c:AuditExempt-NoAccountantsReport 2020-01-01 2020-12-31 SC271928 c:FullAccounts 2020-01-01 2020-12-31 SC271928 c:PrivateLimitedCompanyLtd 2020-01-01 2020-12-31 iso4217:GBP xbrli:pure

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DOMMEREN LIMITED


Company registration number SC271928


FILING FINANCIAL STATEMENTS


FOR THE YEAR ENDED 31 DECEMBER 2020






























 
DOMMEREN LIMITED
 

CONTENTS



Page
Company Information
1
Statement of Financial Position
2
Notes to the Financial Statements
3 - 5


 
DOMMEREN LIMITED
 
 
COMPANY INFORMATION


Directors
Sarah Ann Wells 
Anders Serup Kjaerhauge 




Registered number
SC271928



Registered office
Titanium 1
King's Inch Place

Renfrew

PA4 8WF




Accountants
Azets

Titanium 1

King's Inch Place

Renfrew

PA4 8WF




1
 
DOMMEREN LIMITED
REGISTERED NUMBER:SC271928

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2020

2020
2019
Note
£
£

  

Current assets
  

Cash at bank and in hand
  
54
69

  
54
69

Total assets less current liabilities
  
 
 
54
 
 
69

  

Net assets
  
54
69


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
53
68

  
54
69


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

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 Section 1A 'Small Entities' of Financial Reporting Standard 102.

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

As permitted by Section 444 of the Companies Act 2006, the directors have not delivered to the Registrar a copy of the company’s Statement of Income and Retained Earnings for the year ended 31 December 2020.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Sarah Ann Wells
Director

Date: 29 April 2021


The notes on pages 3 to 5 form part of these financial statements.

2

 
DOMMEREN LIMITED
 
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020

1.


General information

The financial statements are presented in Pounds Sterling (GBP) as that is the currency in which the company's transactions are denominated. They comprise the financial statements of the company drawn up for the year ended 31 December 2020.
The continuing activity of Dommeren Limited ('the company') is motion picture and video production.
The company is a private company limited by shares incorporated in the United Kingdom and registered in Scotland. Details of the registered office can be found on the company information page of these financial statements. The company registration number is SC271928.

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 applicable law and United Kingdom Accounting Standards including Section 1A 'Small Entities' of Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice applicable to Small Entities).
The preparation of financial statements in compliance with Section 1A ‘Small Entities’ of FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company accounting policies.
The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have considered a period of at least twelve months from the date on which these financial statements have been signed and, having considered all relevant information available to them, believe it is appropriate to prepare the financial statements on a going concern basis.
This assessment of going concern includes the expected impact of COVID-19 to the entity in the twelve months following the signing of these financial statements.

 
2.3

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.4

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

3

 
DOMMEREN LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020

2.Accounting policies (continued)

  
2.5

Film sale and leaseback

Where the company has entered into a sale and leaseback arrangement for the rights to a film or television series, the finance lease is matched by a pledged deposit account such that the principal on deposit and interest earned will be sufficient to cover the rental obligations on the finance lease until the end of the lease. The deposit account can only be used to settle the finance lease liabilities and therefore these do not represent separate assets and liabilities of the company. Consequently the deposit account has been netted off with the finance lease creditor. Interest arising on the pledged deposit account has been similarly matched against the finance lease interest charges.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2019 - 2).


4.


Taxation

There is no charge for corporation tax in the current or prior year.

4

 
DOMMEREN LIMITED
 
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020

5.


Contingent liabilities

In July 2006 the company entered into a sale and leaseback transaction for the master copy of the film 'Dommeren' with The Zentropa Film Partnership. Amounts held in deposit account as a result of this transaction comprise of monies to provide for the discharge of future leasing liabilities. The bank with which these sums are deposited has given guarantees to the lessors in respect of the lease liabilities. The contingent liability would only crystallise upon the failure of the bank holding the deposit. The amounts involved are as follows:

2020
2019
£
£


Amounts held on deposit
-
168,489

Less: Lease liabilities outstanding

-
(168,489)

-
-


The maturity of the above amounts is as follows:

2020
2019
£
£

Expiry date:

Within one year
-
(168,489)

Between two and five years
-
-

-
(168,489)


 
5