Company Registration No. 10287949 (England and Wales)
SALON GALAHAD LIMITED
Unaudited accounts
for the year ended 31 December 2020
SALON GALAHAD LIMITED
Unaudited accounts
Contents
SALON GALAHAD LIMITED
Company Information
for the year ended 31 December 2020
Directors
N Taussig
I Bonhote
P Fischer
A Ryder
P Van Carter
Company Number
10287949 (England and Wales)
Registered Office
REGINA HOUSE
124 FINCHLEY ROAD
LONDON
NW3 5JS
ENGLAND
Accountants
Eleve11 Consulting Ltd T/A On The Spot
1 Lyteltane Rd
Lymington
Hampshire
SO41 3Pl
SALON GALAHAD LIMITED
Statement of financial position
as at 31 December 2020
Inventories
342,580
342,580
Cash at bank and in hand
4,074
4,132
Creditors: amounts falling due within one year
(250,444)
(249,444)
Net current assets
100,185
101,243
Net assets
100,185
101,243
Called up share capital
2
2
Profit and loss account
100,183
101,241
Shareholders' funds
100,185
101,243
For the year ending 31 December 2020 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 December 2021 and were signed on its behalf by
N Taussig
Director
Company Registration No. 10287949
SALON GALAHAD LIMITED
Notes to the Accounts
for the year ended 31 December 2020
SALON GALAHAD LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10287949. The registered office is REGINA HOUSE, 124 FINCHLEY ROAD, LONDON, NW3 5JS, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Film Production Costs
Stocks represent film production costs that comprise the cumulative amounts being expended in producing the film; they are recorded as a current asset. This cost is being amortised to the statement of comprehensive income over the period in which the rights to the film are being exploited.
The company meets its day to day working capital requirements through production loan facilities.
Existing funding facilities, forecasts and projections indicate that the company has adequate resources to continue with some level of activity from minimal to full levels. Although the potential effect of the Coronavirus can be modelled, it is very difficult to determine the assumptions that will prove to be most appropriate and therefore there is an element of doubt existing that cannot be quantified.
After reviewing the company's forecasts and projections, the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors therefore continue to adopt the going concern basis in preparing the financial statements, but with the proviso that a material uncertainty exists over the company's future.
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.
4
Debtors: amounts falling due within one year
2020
2019
SALON GALAHAD LIMITED
Notes to the Accounts
for the year ended 31 December 2020
5
Creditors: amounts falling due within one year
2020
2019
Other creditors
247,694
247,694
6
Transactions with related parties
At the balance sheet date, the company was due £xxx (2019: £3975) from Salon Pictures Limited, a company in which N Taussig and P Van Carter are also directors.
As the balance sheet dated, the company owed £xxx (2019: £60) to Misfits Entertainment Limited, a company in which A Ryder and I Bonhote are also directors.
7
Average number of employees
During the year the average number of employees was 0 (2019: 0).
