Sentinel Studios Limited - Abbreviated accounts 16.1
Sentinel Studios Limited - Abbreviated accounts 16.1
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts |
| for the Year Ended 31 March 2016 |
| for |
| SENTINEL STUDIOS LIMITED |
| SENTINEL STUDIOS LIMITED (REGISTERED NUMBER: 08781655) |
| Contents of the Abbreviated Accounts |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| SENTINEL STUDIOS LIMITED |
| Company Information |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| SENTINEL STUDIOS LIMITED (REGISTERED NUMBER: 08781655) |
| Abbreviated Balance Sheet |
| 31 MARCH 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| Tangible assets | 3 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Profit and loss account | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the Board of Directors on by: |
| SENTINEL STUDIOS LIMITED (REGISTERED NUMBER: 08781655) |
| Notes to the Abbreviated Accounts |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements 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 net invoiced sales of services, excluding value added tax. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
| period of the lease. |
| Intangible fixed assets |
| Intangible assets represent development costs of video games under development. Costs are only capitalised |
| when the following conditions are met: |
| - Completion of the game is technically feasible so that it will be available for use or sale |
| - The company intends to complete the game and use or sell it |
| - The company has the ability to use or sell the game and the game will generate probable future economic |
| benefits (over and above cost) |
| - There are adequate technical, financial and other resources to complete the game and to use or sell the game, |
| and |
| - The expenditure attributable to the game during its development can be measured reliably. |
| Development costs not meeting the criteria for capitalisation are expensed as incurred. The cost of the asset |
| comprises all directly attributable costs necessary to create, produce and prepare the game to be capable of |
| operating in the manner intended by management. Directly attributable costs include employee costs incurred |
| along with third party costs. Games are only amortised once they are released over their expected useful |
| economic lives. |
| Careful judgement by the directors is applied when deciding whether the recognition requirements for |
| development costs have been met. Judgements are based on the information available at each balance sheet date. |
| In addition, all internal activities related to the research and development of new projects are continuously |
| monitored by the directors. |
| SENTINEL STUDIOS LIMITED (REGISTERED NUMBER: 08781655) |
| Notes to the Abbreviated Accounts - continued |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| 2. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 April 2015 |
| Additions |
| At 31 March 2016 |
| AMORTISATION |
| At 1 April 2015 |
| Amortisation for year |
| At 31 March 2016 |
| NET BOOK VALUE |
| At 31 March 2016 |
| At 31 March 2015 |
| 3. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 April 2015 |
| and 31 March 2016 |
| DEPRECIATION |
| At 1 April 2015 |
| Charge for year |
| At 31 March 2016 |
| NET BOOK VALUE |
| At 31 March 2016 |
| At 31 March 2015 |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| A Ordinary | £0.01 |
| B Ordinary | £5 |
| C Ordinary | £0.01 |
| 150,501 | 150,501 |