Principal Film Finance Limited - Period Ending 2016-03-31

Registration number: 09562871

Principal Film Finance Limited

Unaudited Abbreviated Accounts

for the Period from 27 April 2015 to 31 March 2016

 

Leslie Dark & Co
Chartered Accountants
Dynamic House
2 Serbert Road
PORTISHEAD
Bristol
BS20 7GF

Principal Film Finance Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

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 3) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Principal Film Finance Limited
for the Period Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Principal Film Finance Limited for the period ended 31 March 2016 set out on pages 4 tp 8 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 http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Principal Film Finance Limited, 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 Principal Film Finance Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Principal Film Finance Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Principal Film Finance Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Principal Film Finance Limited. You consider that Principal Film Finance Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Principal Film Finance Limited. 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.

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

Leslie Dark & Co
Chartered Accountants
Dynamic House
2 Serbert Road
PORTISHEAD
Bristol
BS20 7GF

14 December 2016

Page 1

Principal Film Finance Limited
(Registration number: 09562871 )
Abbreviated Balance Sheet at 31 March 2016

		Note			31 March 2016 £
Current assets
Debtors					8,965
Cash at bank and in hand					47,342
					56,307
Creditors: Amounts falling due within one year					(6,407)
Total assets less current liabilities					49,900
Creditors: Amounts falling due after more than one year					(50,000)
Net liabilities					(100)
Capital and reserves
Called up share capital		2			2
Profit and loss account					(102)
Shareholders' deficit					(100)

For the year ending 31 March 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 14 December 2016 and signed on its behalf by:

.........................................
T C George
Director

The notes on page 3 form an integral part of these financial statements.
Page 2

Principal Film Finance Limited
Notes to the Abbreviated Accounts for the Period from 27 April 2015 to 31 March 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.

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.

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	Share capital

Allotted, called up and fully paid shares

	31 March 2016
		No.			£
Ordinary Shares of £1 each		2			2

Page 3