Northcroft Films Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 04108993

Northcroft Films Limited

Abbreviated Unaudited Accounts for the Year Ended 31st August 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

C J Bennett

J H Bennett

SECRETARY:

C J Bennett

REGISTERED OFFICE:

4 High Street

Alton

Hampshire

GU34 1BU

REGISTERED NUMBER:

04108993

ACCOUNTANTS:

Sheen Stickland

Chartered Accountants

4 High Street

Alton

Hampshire

GU34 1BU

CURRENT ASSETS

Debtors

36,258

122,681

Investments in programmes

2,578,556

2,072,176

Cash at bank

19,734

27,201

2,634,548

2,222,058

CREDITORS

Amounts falling due within one year

2,600,431

2,162,575

NET CURRENT ASSETS

34,117

59,483

TOTAL ASSETS LESS CURRENT
LIABILITIES

34,117

59,483

CAPITAL AND RESERVES

Called up share capital

2

455,001

Share premium

401,175

Profit and loss account

(822,059

)

(796,693

)

SHAREHOLDERS' FUNDS

34,117

59,483

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2016 in accordance with Section 476 of the Companies Act 2006.

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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 12th May 2017 and were signed on
its behalf by:

C J Bennett - Director

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, which is stated net of value added tax, represents amounts received from the company's

continuing principal activity, including revenue from the exploitation of programmes and production

fees. Turnover is recognised when it is received to the extent that amounts received exceed the cost

of the investment.

Investment in programmes

Investment in programmes is stated at the lower of cost and net realisable value. Revenue from

programmes does not arise evenly over their useful lives. Accordingly, costs are charged to the

profit and loss on a matching basis with the revenue receivable from each production.

Amounts received from investments in programmes are initially set against the cost of the

investment until this has been recovered in full. Only then are amounts received treated as income

of the company.

The carrying values of investment in programmes are reviewed for impairment in periods if events

or changes in circumstances indicate the carrying value may not be recoverable.

2.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

910,001

Ordinary

£0.50

455,001

3.	ULTIMATE CONTROLLING PARTY

The company's ultimate controlling parties are the trustees of the Bennett Family Settlements who

own 100% of the issued share capital of the company. J H Bennett, a director of the Company, is

also a trustee of these trusts.