THE_SPIRIT_LEVEL_FILM_COM - Accounts

THE SPIRIT LEVEL FILM COMPANY LIMITED - Company Information

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Company Registration No. 07936863 (England and Wales)

THE SPIRIT LEVEL FILM COMPANY LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2016

THE SPIRIT LEVEL FILM COMPANY LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

THE SPIRIT LEVEL FILM COMPANY LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JULY 2016

- 1 -

2016

2015

Notes

Current assets

Debtors

37,282

22,743

Cash at bank and in hand

7,298

2,223

44,580

24,966

Creditors: amounts falling due within one year

(111,630)

(46,708)

Total assets less current liabilities

(67,050)

(21,742)

Creditors: amounts falling due after more than one year

(60,000)

(127,050)

(81,742)

Capital and reserves

Called up share capital

Profit and loss account

(127,051)

(81,743)

Shareholders' funds

(127,050)

(81,742)

For the financial year ended 31 July 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 13 February 2017

C C Hird

Director

Company Registration No. 07936863

THE SPIRIT LEVEL FILM COMPANY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

The turnover shown in the profit and loss account represents amounts receivable in respect of film production during the year, exclusive of Value Added Tax.

1.4

Revenue recognition

The company intends to make a Film Tax Credit Claim under Part 15 CTA 2009. As the availability and quantum of the Claim are at present unknown, no amount has currently been recognised in the financial statements.

1.5

Deferred taxation

A deferred tax asset has not been recognised in relation to the loss before tax as there is no certainty that the losses will be used in a future period.