The Choir That Rocks Limited
The Choir That Rocks Limited
Registered number: 10183606
Unaudited Financial Statements
For The Year Ended
31 August 2021
The Choir That Rocks Limited
Unaudited Financial Statements
For The Year Ended
31 August 2021
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—4 |
The Choir That Rocks Limited
Balance Sheet
As at
31 August 2021
Balance Sheet
Registered number:
10183606
For the year ending 31 August 2021 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 3 |
|
|
||
|
|
|
||||
| CURRENT ASSETS | |||||
| Cash at bank and in hand |
|
|
|||
|
|
|
||||
| Creditors: Amounts Falling Due Within One Year | 4 |
( |
( |
||
| NET CURRENT ASSETS (LIABILITIES) |
( |
( |
|||
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
( |
|||
| NET LIABILITIES |
( |
( |
|||
| CAPITAL AND RESERVES | |||||
| Called up share capital | 5 |
|
|
||
| Profit and Loss Account |
( |
( |
|||
| SHAREHOLDERS' FUNDS | (38,937) | (37,268) | |||
The Choir That Rocks Limited
Balance Sheet (continued)
As at
31 August 2021
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
|
Director
|
|
|
The notes on pages 3 to 4 form part of these financial statements.
The Choir That Rocks Limited
Notes to the Financial Statements
For The Year Ended
31 August 2021
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Going Concern Disclosure
At the balance sheet date the company had net liabilities. The company's major creditor is a company under common control and that company has confirmed that it will not withdraw its financial support to the detriment of the company or its other creditors. Until the company is in a position to generate income, it is dependent upon financial support from its shareholder and associated companies to meet its liabilities as they fall due. The directors are satisifed that financial support will not be withdrawn for the foreseeable future. Accordingly, the accounts have been prepared on a going concern basis.
1.3.
Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are film development costs. Film development costs relate to the development of a film based on the story of the founder of Rock Choir Limited, the rights to which the company owns. Costs capitalised in prior years relate to script writing and script development. In the year to 31/8/2017, no costs were capitalised as they were considered to be investigatory only. On completion, the film is expected to generate revenues. There is no date for when the film will be finished at this stage, and for this reason no amortisation policy has been determined or applied. At the year end, the company undertook an impairment review on the intangible asset and concluded that all monies spent on scriptwriting and story development to date still have ongoing value and are worth at least the cost, and therefore there was no impairment of the intangible at the year end.
2.
Average Number of Employees
Average number of employees during the year was as follows: NIL (2020: NIL)
3.
Intangible Assets
| Development Costs | |||
|---|---|---|---|
| £ | |||
| Cost | |||
| As at
|
|
||
| As at
|
|
||
| Net Book Value | |||
| As at
|
|
||
| As at
|
|
||
The project is on hold and therefore amortisation has not yet started. The first version of the script produced was considered to be not quite right and further work would be needed. Work already undertaken is deemed to be of value and therefore remains in the balance sheet, unimpaired.
The Choir That Rocks Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 August 2021
4.
Creditors: Amounts Falling Due Within One Year
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Amounts owed to participating interests | 111,824 | 116,155 | |
| Other creditors | 1,617 | 1,380 | |
|
|
|
||
The amount owed to an associated company is interest free and repayable upon demand, though the directors of the associate have confirmed that the loan will not be withdrawn in detriment to the company or its other creditors.
6.
General Information
The Choir That Rocks Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
10183606
. The registered office is Unit 7 Hurlands Business Centre, Farnham, Surrey, GU9 9JE.