Profile Films Ltd - Period Ending 2016-02-29

Registration number: 08899248

Profile Films Ltd

Unaudited Abbreviated Accounts

for the Year Ended 29 February 2016
 

Profile Films Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Profile Films Ltd
for the Year Ended 29 February 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Profile Films Ltd for the year ended 29 February 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Profile Films Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Profile Films Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Profile Films Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Profile Films Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Profile Films Ltd. You consider that Profile Films Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Profile Films Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Lewis & Co Chartered Accountants
75 Kenton Street
London
WC1N 1NN

28 November 2016

Page 1

Profile Films Ltd
(Registration number: 08899248)
Abbreviated Balance Sheet at 29 February 2016

		Note			29 February 2016 £			28 February 2015 £
Fixed assets
Tangible fixed assets					4,084			6,127
Current assets
Debtors					-			3,695
Cash at bank and in hand					4,814			2,141
					4,814			5,836
Creditors: Amounts falling due within one year					(7,344)			(10,452)
Net current liabilities					(2,530)			(4,616)
Net assets					1,554			1,511
Capital and reserves
Called up share capital		4			1,000			1,000
Profit and loss account					554			511
Shareholders' funds					1,554			1,511

For the year ending 29 February 2016 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 director acknowledges his 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 .

Approved by the director on 28 November 2016

.........................................
L R Mendham
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Profile Films Ltd
Notes to the Abbreviated Accounts for the Year Ended 29 February 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Asset class	Depreciation method and rate
Plant and machinery etc -	25% on straight line

VAT accounting

The company is registered under the flat rate scheme for VAT. Turnover is recorded net of VAT in the Financial Statements and purchases are recorded gross of VAT. The VAT recoverable in respect of expenses is shown separately in the Trading Profit and Loss account.

3	Fixed assets

		Tangible assets £			Total £
Cost
At 1 March 2015		8,170			8,170
At 29 February 2016		8,170			8,170
Depreciation
At 1 March 2015		2,043			2,043
Charge for the year		2,043			2,043
At 29 February 2016		4,086			4,086
Net book value
At 29 February 2016		4,084			4,084
At 28 February 2015		6,127			6,127

Page 3

Profile Films Ltd
Notes to the Abbreviated Accounts for the Year Ended 29 February 2016
......... continued

4	Share capital

Allotted, called up and fully paid shares

	29 February 2016						28 February 2015
		No.			£			No.			£
Ordinary share capital of £1 each		1,000			1,000			1,000			1,000

Page 4