Gallery Motion Pictures Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03259278 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2020

for

Gallery Motion Pictures Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

E Stroh

Mrs Y Stroh

REGISTERED OFFICE:

9 Acton Hill Mews

Uxbridge Road

London

W3 9QN

REGISTERED NUMBER:

03259278 (England and Wales)

CURRENT ASSETS

Debtors

5

15,680

17,917

Cash at bank

4,797

1,071

20,477

18,988

CREDITORS

Amounts falling due within one year

6

245

1,189

NET CURRENT ASSETS

20,232

17,799

TOTAL ASSETS LESS CURRENT LIABILITIES

20,232

17,799

CREDITORS

Amounts falling due after more than one year

7

185,330

181,683

NET LIABILITIES

(165,098

)

(163,884

)

CAPITAL AND RESERVES

Called up share capital

99

99

Retained earnings

(165,197

)

(163,983

)

SHAREHOLDERS' FUNDS

(165,098

)

(163,884

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 July 2021 and were signed on its behalf by:

E Stroh - Director

1.	STATUTORY INFORMATION

Gallery Motion Pictures Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Going concern

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis. The directors are of the opinion that it is appropriate to adopt the going concern basis in preparing the financial statements. The directors have assured their continued support to the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Film costs are being amortised evenly over their estimated useful life of nil years.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	INTANGIBLE FIXED ASSETS

Film

costs

£

COST

At 1 November 2019

and 31 October 2020

137,832

AMORTISATION

At 1 November 2019

and 31 October 2020

137,832

NET BOOK VALUE

At 31 October 2020

-

At 31 October 2019

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.20

31.10.19

£

£

Expenses advances

11,300

11,300

Other debtors

4,380

3,691

VAT

-

2,926

15,680

17,917

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.20

31.10.19

£

£

VAT

245

-

Accruals and deferred income

-

1,189

245

1,189

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.20

31.10.19

£

£

Other creditors

6,593

6,593

Amounts due to parent company

178,737

175,090

185,330

181,683

8.	RELATED PARTY DISCLOSURES

Included in creditors is a balance of £175,090 (2018: £181,613) owed to the parent company, Moonstone Entertainment Inc.

This balance arose as a result of normal operating transactions, and represents the maximum amount outstanding during the period.

All transactions entered into between the two companies were on an arms length basis and in the ordinary course of business.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the director, Mr E Stroh.