Joella Productions Limited Small abbreviated accounts

JOELLA PRODUCTIONS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER 04057889

JOELLA PRODUCTIONS LIMITED

UNAUDITED ABBREVIATED ACCOUNTS

31 August 2016

MALDE & CO

Chartered Certified Accountants

99 Kenton Road

Kenton Harrow

Middlesex

HA3 0AN

JOELLA PRODUCTIONS LIMITED

ABBREVIATED BALANCE SHEET

31 August 2016

		2016		2015
Note		£	£	£	£
FIXED ASSETS	2
Tangible assets			1		369
Investments			2		2
			----		----
			3		371

CURRENT ASSETS

Debtors	2,301		8,870
Cash at bank and in hand	2,945		3,957
	-------		---------
	5,246		12,827
CREDITORS: Amounts falling due within one year	11,951		13,754
	---------		---------
NET CURRENT LIABILITIES		( 6,705)		( 927)
		-------		----
TOTAL ASSETS LESS CURRENT LIABILITIES		( 6,702)		( 556)

CREDITORS: Amounts falling due after more than one year	1,912,933	1,912,933
	-------------	-------------
	( 1,919,635)	( 1,913,489)
	-------------	-------------

CAPITAL AND RESERVES

Called up equity share capital	3	100	100
Profit and loss account		( 1,919,735)	( 1,913,589)
		-------------	-------------
DEFICIT		( 1,919,635)	( 1,913,489)
		-------------	-------------

For the year ended 31 August 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 accounts for the year in question in accordance with section 476; and

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

These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.

These abbreviated accounts were approved by the directors and authorised for issue on 13 April 2017 , and are signed on their behalf by:

Mr. J. P. Deery Director

Company Registration Number: 04057889

JOELLA PRODUCTIONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

YEAR ENDED 31 AUGUST 2016

1. ACCOUNTING POLICIES

Basis of accounting

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). In adopting the Financial Reporting Standard for Smaller Entities (effective January 2015), it was not necessary to change any accounting policies and no prior period adjustment was required. Hence there has been no effect on the results for the current period in adopting the new Financial Reporting Standard for Smaller Entities.

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax, in respect of the exploitation of television and merchandising rights and contributions towards publicity and marketing. Where income relating to publicity and marketing exceeds the expenditure incurred in the year, the surplus is carried forward.

Fixed assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Fixtures, Fittings & Equipment - 15% straight line

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

2. FIXED ASSETS

Tangible Assets	Investments	Total
£	£	£

COST

At 1 September 2015 and 31 August 2016	4,163	2	4,165
	-------	----	-------

DEPRECIATION

At 1 September 2015	3,794	–	3,794
Charge for year	368	–	368
	-------	----	-------
At 31 August 2016	4,162	–	4,162
	-------	----	-------

NET BOOK VALUE

At 31 August 2016	1	2	3
	----	----	----

At 31 August 2015	369	2	371
	----	----	----

The company owns 100 % of the issued share capital of Underground Ernie Ltd . The principal activity of Underground Ernie Ltd is that of film production . The results for the company for the year ended 31 May 2016 are as follows;

		2016		2015
		£		£

Aggregate capital and reserves	3,538	5,019
Profit and (loss) for the year	(1,481)	(1,482)

Under the provision of section 649 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity .

3. SHARE CAPITAL

Allotted, called up and fully paid:

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

JOELLA PRODUCTIONS LIMITED

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF JOELLA PRODUCTIONS LIMITED

YEAR ENDED 31 AUGUST 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Joella Productions Limited for the year ended 31 August 2016 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

Our work has been undertaken in accordance with the requirements of Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.

MALDE & CO Chartered Certified Accountants

99 Kenton Road Kenton Harrow Middlesex HA3 0AN

13 April 2017