Paranoid Pictures Film Company Limited,Ltd - Accounts

PARANOID PICTURES FILM COMPANY LIMITED - Company Information

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Paranoid Pictures Film Company Limited

For the year ended 30 June 2016

Unaudited Abbreviated Report and Financial Statements

England and Wales

Registered Number: 06641316

Contents Page

Paranoid Pictures Film Company Limited

For the year ended 30 June 2016

Accountants' Report

Balance Sheet

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Notes to the Abbreviated Financial Statements

Paranoid Pictures Film Company Limited

Accountants' Report

For the year ended 30 June 2016

As described on the balance sheet you are responsible for the preparation of the financial statements for the year

ended 30 June 2016 and you consider that the company is exempt from an audit under the Companies Act 2006.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you

to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Brian G Lonis and Co

12E Manor Road

London

N16 5SA

30 March 2017

Dated:

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Abbreviated Balance Sheet

Paranoid Pictures Film Company Limited

As at 30 June 2016

06641316

Registered Number :

2016

Notes

2015

Fixed assets

Tangible assets

138

Current assets

Debtors

150,259

310,250

Cash at bank and in hand

17,400

17,432

327,650

167,691

Creditors: amounts falling due within one year

(1,240,838)

(1,234,191)

(1,073,147)

(906,541)

Net current liabilities

Total assets less current liabilities

(906,449)

(1,073,009)

(906,449)

Net liabilities

(1,073,009)

Capital and reserves

Called up share capital

Profit and loss account

(906,450)

(1,073,010)

(906,449)

(1,073,009)

Shareholders funds

For the year ended 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;

2) 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.

Date approved by the board: 30 March 2017

Miss Holly Jane Cushing Director

Signed on behalf of the board of directors

Simon Durban Esq. Director

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Notes to the Abbreviated Financial Statements

Paranoid Pictures Film Company Limited

For the year ended 30 June 2016

1 Accounting Policies

Basis of accounting

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

Going Concern

The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the directors who have undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Foreign currency

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange

ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the

transaction. All foreign exchange differences are included to the profit and loss account.

Deferred taxation

Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Computer Equipment

33% Reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

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Notes to the Abbreviated Financial Statements

Paranoid Pictures Film Company Limited

For the year ended 30 June 2016

2 Tangible fixed assets

Tangible fixed

assets

Cost or valuation

1,532

At 01 July 2015

At 30 June 2016

1,532

Depreciation

1,394

At 01 July 2015

Charge for year

1,440

At 30 June 2016

Net book values

At 30 June 2016

138

At 30 June 2015

Page 2 which comprise the Profit and Loss Account, the Balance Sheet and the related notes.

Debtors include an amount of £0 (2015: £40000) falling due after more than one year

3 Debtors:

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