Patagonia Films Ltd Company Accounts
Patagonia Films Ltd Company Accounts
COMPANY REGISTRATION NUMBER
03749016
DIRECTOR'S REPORT
YEAR ENDED 30 APRIL 2015
The director presents his report and the unaudited financial statements of the company for the year ended 30 April 2015.
PRINCIPAL ACTIVITIES
DIRECTORS
The directors who served the company during the year were as follows:
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Mr. M. Craddock passed away on 15 August 2015.
SMALL COMPANY PROVISIONS
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
Registered office:
Signed by
Mr M Foster
Director
Approved by the director on
13 January 2016
PROFIT AND LOSS ACCOUNT
YEAR ENDED 30 APRIL 2015
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2015 |
2014 |
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Note |
£ |
£ |
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TURNOVER |
– |
– |
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Administrative expenses |
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---- |
---- |
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LOSS ON ORDINARY ACTIVITIES BEFORE TAXATION |
(
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(
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Tax on loss on ordinary activities |
– |
– |
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---- |
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LOSS FOR THE FINANCIAL YEAR |
(
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(
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Balance brought forward |
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Balance carried forward |
175 |
428 |
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BALANCE SHEET
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2015 |
2014 |
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Note |
£ |
£ |
£ |
FIXED ASSETS
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Investments |
3 |
– |
– |
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CURRENT ASSETS
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Cash at bank |
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CREDITORS: Amounts falling due within one year |
4 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CAPITAL AND RESERVES
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Called up equity share capital |
6 |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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Director's responsibilities:
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The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts were approved and signed by the director and authorised for issue on
13 January 2016
.
Company Registration Number:
03749016
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2015
1.
ACCOUNTING POLICIES
Basis of accounting
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Film asset investment
Film investment comprises: production costs including financing costs, legal fees and sales commission and expenses payable; and development costs. Film costs are capitalised up to the date of first release.
Film investment is amortised on a pound for pound basis.
2.
INTEREST RECEIVABLE
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2015 |
2014 |
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£ |
£ |
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Secured bank deposit interest |
– |
13,257 |
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Finance lease charge |
– |
(13,257) |
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– |
– |
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3.
INVESTMENTS
Film Asset Investment
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£ |
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COST
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At 1 May 2014 and 30 April 2015 |
2,999,405 |
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AMOUNTS WRITTEN OFF
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At 1 May 2014 and 30 April 2015 |
2,999,405 |
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NET BOOK VALUE
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At 30 April 2015 and 30 April 2014 |
- |
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4.
CREDITORS:
Amounts falling due within one year
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2015 |
2014 |
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£ |
£ |
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Accruals and deferred income |
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5.
RELATED PARTY TRANSACTIONS
The company was under the control of the directors throughout the current and previous year. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard for Smaller Entities (effective April 2008).
6.
SHARE CAPITAL
Allotted, called up and fully paid:
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2015 |
2014 |
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No |
£ |
No |
£ |
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MANAGEMENT INFORMATION
YEAR ENDED 30 APRIL 2015
The following page does not form part of the statutory financial statements
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CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF
PATAGONIA FILMS LTD
YEAR ENDED 30 APRIL 2015
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Patagonia Films Ltd for the year ended 30 April 2015 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
Our work has been undertaken in accordance with the requirements of Association of Chartered Certified Accountants as detailed at www2.accaglobal.com/pubs/members/publications/technical_factsheets/downloads/163.doc.
15 January 2016