Division 19 Ltd
Division 19 Ltd
Registered number: 07986639
Unaudited Financial Statements
For The Year Ended
31 May 2020
Division 19 Ltd
Unaudited Financial Statements
For The Year Ended
31 May 2020
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Division 19 Ltd
Balance Sheet
As at
31 May 2020
Balance Sheet
Registered number:
07986639
For the year ending 31 May 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||||
| Debtors | 4 |
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| Creditors: Amounts Falling Due Within One Year | 5 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 6 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 384,091 | 371,738 | |||
Page 1
Division 19 Ltd
Balance Sheet (continued)
As at
31 May 2020
Director's responsibilities
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The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges her 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. - 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
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Director
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
Division 19 Ltd
Notes to the Financial Statements
For The Year Ended
31 May 2020
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
The director and other participating interests have confirmed that they will continue to give financial support to the company until such time as its position improves. In addition they have confirmed that they will not recall their loans within 12 months. The directors consider that it is appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result if the financial support were withdrawn.
1.3.
Turnover
Turnover relates to the production of a film. It represents the value of work done in the period, including estimates of amounts not invoiced and is stated after trade discounts, other taxes and net of VAT.
The value of work done in relation to long-term contracts and continuing services is determined by reference to the stage of completion of the relevant contract.
1.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Computer Equipment |
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1.5.
Taxation
A deferred tax asset has not been recognised in relation to the losses available as the company cannot be certain that this asset will be used in the future.
2.
Average Number of Employees
Average number of employees, including directors, during the year was 1 (2019: 1)
Page 3
Division 19 Ltd
Notes to the Financial Statements (continued)
For The Year Ended
31 May 2020
3.
Tangible Assets
| Computer Equipment | |
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| £ | |
| Cost | |
| As at
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| As at
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| Depreciation | |
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| Provided during the period |
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| As at
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| Net Book Value | |
| As at
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| As at
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4.
Debtors
| 2020 | 2019 | ||
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| £ | £ | ||
| Due within one year | |||
| Corporation tax recoverable assets |
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| Amounts owed by group undertakings |
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5.
Creditors: Amounts Falling Due Within One Year
| 2020 | 2019 | ||
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| £ | £ | ||
| Trade creditors |
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| Bank loans and overdrafts |
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| Other creditors |
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| Accruals and deferred income |
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| Director's loan account |
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| Amounts owed to other participating interests | 149,970 | 138,510 | |
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Page 4
Division 19 Ltd
Notes to the Financial Statements (continued)
For The Year Ended
31 May 2020
7.
Related Party Transactions
Sales being film finance of £585,638 was received from a related company Division 19 Corporation in USA. Purchases of £585,638 was paid to Division 19 Corporation in USA for services relating to film "Division 19" being made by Division 19 Limited.
8.
General Information
Division 19 Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
07986639
. The registered office is 41 Sheep Street, Winslow, Bucikingamshire, MK18 3HL.
Page 5