Whitehall Films Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02065630 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2020

for

WHITEHALL FILMS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M J Whitehall

Mrs H Whitehall

SECRETARY:

Mrs H Whitehall

REGISTERED OFFICE:

6 Embankment

Putney

London

SW15 1LB

REGISTERED NUMBER:

02065630 (England and Wales)

ACCOUNTANTS:

Thorne Lancaster Parker

Chartered Accountants

4th Floor

Venture House

27-29 Glasshouse Street

London

W1B 5DF

BANKERS:

Coutts & Co

440 Strand

London

WC2R 0QS

FIXED ASSETS

Property, plant and equipment

5

64,698

70,869

CURRENT ASSETS

Debtors

6

333,988

466,667

Investments

7

20,000

20,000

Cash at bank

1,089,431

452,067

1,443,419

938,734

CREDITORS

Amounts falling due within one year

8

357,992

402,648

NET CURRENT ASSETS

1,085,427

536,086

TOTAL ASSETS LESS CURRENT LIABILITIES

1,150,125

606,955

PROVISIONS FOR LIABILITIES

10

13,000

13,000

NET ASSETS

1,137,125

593,955

CAPITAL AND RESERVES

Called up share capital

11

2

2

Retained earnings

1,137,123

593,953

SHAREHOLDERS' FUNDS

1,137,125

593,955

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 July 2021 and were signed on its behalf by:

Mr M J Whitehall - Director

1.	STATUTORY INFORMATION

Whitehall Films 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the total amount receivable, net of value added tax, for services provided in the ordinary course of business during the period.

Property, plant and equipment

Property, plant and equipment are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all property, plant and equipment, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:-

Fixtures and fittings - 15% on reducing balance

Motor vehicles - 25% on reducing balance

Office equipment - 25% on reducing balance

The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Financial instruments

Basic financial assets

Trade debtors and cash and bank balances are initially recognised at transaction price and subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period basic financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Basic financial assets are derecognised when (a) the contractual rights to the cash flows from the assets expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Basic financial liabilities

Trade creditors, accruals and directors' current accounts are initially recognised at transaction price and subsequently carried at amortised cost, using the effective interest rate method.

Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

Motor

Office

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 November 2019

171,479

2,500

49,670

223,649

Additions

475

-

5,459

5,934

At 31 October 2020

171,954

2,500

55,129

229,583

DEPRECIATION

At 1 November 2019

109,280

1,563

41,937

152,780

Charge for year

8,573

234

3,298

12,105

At 31 October 2020

117,853

1,797

45,235

164,885

NET BOOK VALUE

At 31 October 2020

54,101

703

9,894

64,698

At 31 October 2019

62,199

937

7,733

70,869

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

-

143,459

Other debtors

330,988

320,208

Prepayments and accrued income

3,000

3,000

333,988

466,667

7.	CURRENT ASSET INVESTMENTS

2020

2019

£

£

Other investment

20,000

20,000

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

57,971

48,676

Corporation tax

143,707

101,111

Social security & other taxes

9,682

76,485

Other creditors

88,162

84,562

Directors' current accounts

48,920

82,164

Accruals

9,550

9,650

357,992

402,648

9.	FINANCIAL INSTRUMENTS

The company has the following financial instruments:-

2020

2019

£

£

Financial assets that are debt instruments measured

at amortised cost:-

- Trade debtors

-

143,459

- Other debtors

330,988

320,208

- Prepayment and accrued income

3,000

3,000

333,988

466,667

- Other investment

20,000

20,000

2020

2019

£

£

Financial liabilities measured at amortised cost:-

- Trade creditors

57,972

48,676

- Corporation tax

143,707

101,111

- Social security & other taxes

9,682

76,485

- Other creditors

88,162

84,562

- Directors' current account

48,920

82,164

- Accruals

9,550

9,650

357,993

402,648

10.	PROVISIONS FOR LIABILITIES

2020

2019

£

£

Deferred tax

13,000

13,000

Deferred

tax

£

Balance at 1 November 2019

13,000

Charge for the year

Balance at 31 October 2020

13,000

The provision for deferred taxation is made up of accelerated capital allowances.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

2

Ordinary

1

2

2

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Loan from director

At the balance sheet date, the company owed £48,920 (2019: £82,164) to Mr M J Whitehall. The loan is unsecured, interest-free and repayable on demand.

13.	ULTIMATE CONTROLLING PARTY

Mr M Whitehall, a director, together with members of his close family, control the company by virtue of controlling interest (directly or indirectly) of 100% of the issued ordinary share capital.