VERVE PICTURES LIMITED Accounts filed on 31-12-2013

VERVE PICTURES LIMITED Accounts filed on 31-12-2013

VERVE PICTURES LIMITED - Company Information

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VERVE PICTURES LIMITED




Company Registration Number:
04696505 (England and Wales)



Report of the Directors and Unaudited Financial Statements



Period of accounts


Start date: 01st January 2013

End date: 31st December 2013

SUBMITTED

VERVE PICTURES LIMITED

Contents of the Financial Statements
for the Period Ended 31st December 2013

Company Information
Report of the Directors
Profit and Loss Account
Gains and Losses
Balance sheet
Notes to the Financial Statements

VERVE PICTURES LIMITED

Company Information
for the Period Ended 31st December 2013




Director: Colin Burch
Company secretary: Colin Burch
Registered office: Kenilworth House
79-80 Margaret Street
London
W1W 8TA
Company Registration Number: 04696505 (England and Wales)

VERVE PICTURES LIMITED

Directors' Report Period Ended 31st December 2013

The directors present their report with the financial statements of the company for the period ended 31st December 2013

Principal activities
The principal activity of the company in the period under review was:
Film distribution.

Directors
The directors shown below have held office during the whole of the period from
01st January 2013 to 31st December 2013
Colin Burch

Political and charitable donations
Charitable donations during the year amounted to £3600 (2012: £2137) to support The Forgiveness Project. No contributions to political organisations were made during the year.

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on 09 September 2014
And Signed On Behalf Of The Board By:

Name: Colin Burch
Status: Director

VERVE PICTURES LIMITED

Profit and Loss Account

for the Period Ended 31st December 2013

Notes 2013
£		 2012
£
Turnover: 2 432,676 586,131
Cost of sales: 389,567 485,190
Gross profit or (loss): 43,109 100,941
Distribution costs: 0 0
Administrative expenses: , 4 201,075 167,613
Other operating income: 4,970 0
Operating profit or (loss): 3 ( 152,996 ) ( 66,672 )
Interest receivable and similar income: 0 0
Interest payable and similar charges: 1,907 2,041
Profit or (loss) on ordinary activities before taxation: ( 154,903 ) ( 68,713 )
Tax on profit or (loss) on ordinary activities: 0 0
Profit or (loss) for the financial year: ( 154,903 ) ( 68,713 )

The notes form part of these financial statements

VERVE PICTURES LIMITED

Statement of total recognised gains and losses
31st December 2013

Statement of total recognised gains and losses

The company does not have any gains and losses other than Profit and Loss for the period to report.

The notes form part of these financial statements

VERVE PICTURES LIMITED

Balance sheet
As at 31st December 2013

Notes 2013
£		 2012
£
Fixed assets
Intangible assets: 0 0
Tangible assets: 5 1,001 1,326
Total fixed assets: 1,001 1,326
Current assets
Stocks: 6 22,810 19,336
Debtors: 7 140,743 307,055
Cash at bank and in hand: 4,123 2,096
Total current assets: 167,676 328,487
Creditors: amounts falling due within one year 8 481,229 489,770
Net current assets (liabilities): ( 313,553 ) ( 161,283 )
Total assets less current liabilities: ( 312,552 ) ( 159,957 )
Creditors: amounts falling due after more than one year: 0 0
Provision for liabilities: 0 0
Total net assets (liabilities): ( 312,552 ) ( 159,957 )

The notes form part of these financial statements

VERVE PICTURES LIMITED

Balance sheet
As at 31st December 2013
continued

Notes 2013
£		 2012
£
Capital and reserves
Called up share capital: 9 90 90
Revaluation reserve: 0 0
Profit and Loss account: ( 312,642 ) ( 160,047 )
Total shareholders funds: ( 312,552 ) ( 159,957 )

For the year ending 31 December 2013 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

The financial statements were approved by the Board of Directors on 09 September 2014

SIGNED ON BEHALF OF THE BOARD BY:

Name: Colin Burch
Status: Director

The notes form part of these financial statements

VERVE PICTURES LIMITED

Notes to the Financial Statements
for the Period Ended 31st December 2013

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The accounts have been prepared under the historical cost convention an din accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

    Turnover policy

    Turnover compromises of revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

    Tangible fixed assets depreciation policy

    All assets are initially recorded at cost. Depreciation is calculated as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset. Depreciation is charged at 20% reducing balance.

    Intangible fixed assets amortisation policy

    The company does not hold any intangible assets.

    Valuation information and policy

    Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

VERVE PICTURES LIMITED

Notes to the Financial Statements
for the Period Ended 31st December 2013

  • 3 . Operating profit or (loss)

    Operating profit or (loss) before tax as stated after charging the following.

    2013 2012
    £ £
    Depreciation - owned assets: 325 285
    Depreciation - assets on hire purchase contract: 0 0
    Amortisation of goodwill: 0 0
    Amortisation of other intangible assets: 0 0
    Profit or (loss) on disposal of fixed assets: 0 0
    Operating lease rentals: 0 0
    Bad debts written off: 25,630 325

VERVE PICTURES LIMITED

Notes to the Financial Statements
for the Period Ended 31st December 2013

  • 4. Employees

    2013 2012
    £ £
    Wages and salaries: 107,172 88,265
    Social security costs: 7,114 6,949
    Pension costs: 0 0
    Total staff costs: 114,286 95,214
    Average number of employees including directors during the period: 6 5

VERVE PICTURES LIMITED

Notes to the Financial Statements
for the Period Ended 31st December 2013

  • 5. Tangible assets

    Land and buildings Plant Machinery Fixtures and fittings Office Equipment Motor vehicles Total
    Cost £ £ £ £ £ £
    At 01st January 2013: - - - 1,625 - 1,625
    Additions: - - - 0 - 0
    Disposals: - - - 0 - 0
    Revaluations: - - - 0 - 0
    Transfers: - - - 0 - 0
    At 31st December 2013: - - - 1,625 - 1,625
    Depreciation
    At 01st January 2013: - - - 299 - 299
    Charge for year: - - - 325 - 325
    On disposals: - - - 0 - 0
    Other adjustments - - - 0 - 0
    At 31st December 2013: - - - 624 - 624
    Net book value
    At 31st December 2013: - - - 1,001 - 1,001
    At 31st December 2012: - - - 1,326 - 1,326

VERVE PICTURES LIMITED

Notes to the Financial Statements
for the Period Ended 31st December 2013

  • 6. Stocks

    2013 2012
    £ £
    Stocks of raw materials and consumables: 0 0
    Work in progress: 0 0
    Long term contract balances: 0 0
    Finished goods and goods for resale: 22,810 19,336
    Payments on account: 0 0
    Total: 22,810 19,336

VERVE PICTURES LIMITED

Notes to the Financial Statements
for the Period Ended 31st December 2013

  • 7. Debtors

    2013 2012
    £ £
    Trade debtors: 62,770 153,833
    Other debtors: 61,150 153,222
    Prepayments and accrued income: 16,823 0
    Total: 140,743 307,055

VERVE PICTURES LIMITED

Notes to the Financial Statements
for the Period Ended 31st December 2013

  • 8. Creditors: amounts falling due within one year

    2013 2012
    £ £
    Bank loans and overdrafts: 53,045 31,738
    Amounts due under finance leases and hire purchase contracts: 0 0
    Trade creditors: 182,089 219,625
    Taxation and social security: 3,466 3,540
    Accruals and deferred income: 27,888 27,394
    Other creditors: 214,741 207,473
    Total: 481,229 489,770

VERVE PICTURES LIMITED

Notes to the Financial Statements
for the Period Ended 31st December 2013

  • 9. Called up share capital

    Allotted, called up and paid

    Previous period 2012
    Class Number of shares Nominal value per share Total
    Ordinary shares: 90 1.00
    1.00
    		90
    Preference shares: 0 0.00
    0.00
    		0
    Total share capital: 90
    Current period 2013
    Class Number of shares Nominal value per share Total
    Ordinary shares: 90 1.00
    1.00
    		90
    Preference shares: 0 0.00
    0.00
    		0
    Total share capital: 90