Corolo Film & Video Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 04508857 (England and Wales)

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2016

FOR

COROLO FILM & VIDEO LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

I C Powell

SECRETARY:

Ms E Cabrera

REGISTERED OFFICE:

39 Haggerston Studios

284-288 Kingsland Road

London

E8 4DN

REGISTERED NUMBER:

04508857 (England and Wales)

ACCOUNTANT:

Keith Raffan & Co.

Chartered Accountants

36 Great Russell Street

London

WC1B 3QB

FIXED ASSETS

Tangible assets

2

-

Investments

3

75

CURRENT ASSETS

Stocks

1,011

1,085

Debtors

35,467

35,477

Cash at bank

59

23

36,537

36,585

CREDITORS

Amounts falling due within one
year

26,323

25,677

NET CURRENT ASSETS

10,214

10,908

TOTAL ASSETS LESS CURRENT
LIABILITIES

10,289

10,983

CAPITAL AND RESERVES

Called up share capital

4

1

Profit and loss account

10,288

10,982

SHAREHOLDERS' FUNDS

10,289

10,983

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

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

The director acknowledges his 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 director on 30 May 2017 and were signed
by:

I C Powell - 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 represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due

allowance for obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have

originated but not reversed at the balance sheet date.

Government grants

The company accounts for Film Tax Credits as a government grant under IAS20,

recording the estimated value of the credit as other operating income in the year

the film production costs were incurred.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

and 31 August 2016

5,864

DEPRECIATION

At 1 September 2015

and 31 August 2016

5,864

NET BOOK VALUE

At 31 August 2016

-

At 31 August 2015

-

3.	FIXED ASSET INVESTMENTS

Investmen

other

than

loans

£

COST

At 1 September 2015

and 31 August 2016

75

NET BOOK VALUE

At 31 August 2016

75

At 31 August 2015

75

The company's investments at the Balance Sheet date in the share capital of

companies include the following:

Magic Mask Pictures Ltd

Nature of business: Release and distribution of British films

%

Class of shares:

holding

Ordinary

75.00

2016

2015

£

Aggregate capital and reserves

(42,794

)

(30,922

)

Loss for the year

(11,872

)

(10,501

)

The company subscribed 51 shares on incorporation and purchased a further 24

shares from its director at par on the 20th August 2010.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1

Ordinary

1