FROM A JACK TO A KING LIMITED - Period Ending 2016-02-29

Registration number: 08395798

FROM A JACK TO A KING LIMITED

 trading as From A Jack To A King Limited
 
  Annual Report and Unaudited Abbreviated Accounts
 
  for the Year Ended 29 February 2016
 

DRP + Co Accountants Limited
Upper Floor
6 St John's Court
Swansea Enterprise Park
Swansea
C & C Of Swansea
SA6 8QQ

FROM A JACK TO A KING LIMITED
trading as From A Jack To A King Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

FROM A JACK TO A KING LIMITED
trading as From A Jack To A King Limited
(Registration number: 08395798)
Abbreviated Balance Sheet at 29 February 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					400			600
Current assets
Debtors					52,802			264,894
Cash at bank and in hand					71,515			24,666
					124,317			289,560
Creditors: Amounts falling due within one year					(952,511)			(12,517)
Net current (liabilities)/assets					(828,194)			277,043
Total assets less current liabilities					(827,794)			277,643
Creditors: Amounts falling due after more than one year					-			(1,161,151)
Provisions for liabilities					(120)			(120)
Net liabilities					(827,914)			(883,628)
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					(828,014)			(883,728)
Shareholders' deficit					(827,914)			(883,628)

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 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 .

Approved by the Board on 29 November 2016 and signed on its behalf by:

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

FROM A JACK TO A KING LIMITED
trading as From A Jack To A King Limited
(Registration number: 08395798)
Abbreviated Balance Sheet at 29 February 2016
......... continued

.........................................
Mr Leigh Andrew John DINEEN
Director

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

FROM A JACK TO A KING LIMITED
trading as From A Jack To A King Limited
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).

Going concern

To finance the production of the film From a Jack to a King, Swansea City Association Football Club Limited made unsecured interest free advances to the company totaling £1,200,000, of which £891,702 remains outstanding as at 29th February 2016.

The directors of Swansea City Association Football Club Limited have agreed that repayment will be limited to the future profits arising from the exploitation of the rights to From a Jack to a King.

As a consequence of the above agreement the directors are confident that the company will be able to meet it's other liabilities as and when they fall due. Accordingly the dircetors have adopted the going concern basis for preparing these financial statements.

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 on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	20% straightline method

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Page 3

FROM A JACK TO A KING LIMITED
trading as From A Jack To A King Limited
Notes to the Abbreviated Accounts for the Year Ended 29 February 2016
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 March 2015		1,000			1,000
At 29 February 2016		1,000			1,000
Depreciation
At 1 March 2015		400			400
Charge for the year		200			200
At 29 February 2016		600			600
Net book value
At 29 February 2016		400			400
At 28 February 2015		600			600

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

4

Control

The company is controlled by YJB Films Limited.

Page 4