Wandering Star Pictures Limited - Accounts to registrar - small 17.1

REGISTERED NUMBER: 05155474 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Wandering Star Pictures Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr P Berrow

Mr M Berrow

SECRETARY:

Ms S H Paddon

REGISTERED OFFICE:

2 Higher Barn

Higher Woodsford

DORCHESTER

Dorset

DT2 8BT

REGISTERED NUMBER:

05155474 (England and Wales)

ACCOUNTANTS:

S&T Accountants Ltd

2 Higher Barn

Higher Woodsford

DORCHESTER

Dorset

DT2 8BT

FIXED ASSETS

Investments

4

3,070

CURRENT ASSETS

Debtors

5

1,631,264

Cash at bank

85,402

1,716,666

CREDITORS

Amounts falling due within one year

6

3,893,262

NET CURRENT LIABILITIES

(2,176,596

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,173,526

)

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

(2,173,626

)

SHAREHOLDERS' FUNDS

(2,173,526

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 3 July 2017 and were signed on its behalf by:

Mr M Berrow - Director

1.	STATUTORY INFORMATION

Wandering Star Pictures Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The Company enjoys the support of its Directors who are its creditors totalling £624,401 at the balance sheet

date. The inter company loan accounts at the balance sheet date total £70,501.

Since the Company's Incorporation Intellectual Assets have been purchased totalling £179,147. Section 68 of

the Capital Allowances Act 1990 deems all the capital expenditure on the intellectual assets as being revenue and

therefore the intellectual assets are not shown on the balance sheet but are written off on the profit and loss

account.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2016

and 31 March 2017

3,070

NET BOOK VALUE

At 31 March 2017

3,070

At 31 March 2016

3,070

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Amounts owed by group undertakings

1,600,182

Other debtors

31,082

1,631,264

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

(1

)

Amounts owed to group undertakings

1,544,051

Other creditors

2,349,212

3,893,262

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

All transactions with the Directors are entered through the Directors Loan Accounts.

8.	RELATED PARTY DISCLOSURES

Wandering Star Limited, Epic Tales Limited, Log Networks Ltd, Wandering Star Publishing Ltd and Wandering

Star Media Limited are all Inter-Companies and have loans as shown on the balance sheet.

Paul Berrow has a Charge and Deed of Assignment dated 17 May 2006 created by Wandering Star Pictures

Limited for securing $300,000.

Allensen Limited has a Guarantee in the form of a Convertible Term Loan Facility dated 15 December 2008 for

£1,000,000.