| Screencult Ltd |
| Registered number: |
06133428 |
| Statement of Financial Position |
| as at 31 December 2016 |
|
| Notes |
|
|
2016 |
|
|
2015 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
19,025 |
|
|
19,311 |
|
| Current assets |
| Debtors |
4 |
|
49,129 |
|
|
96,251 |
| Cash at bank and in hand |
|
|
250 |
|
|
25,928 |
|
|
|
49,379 |
|
|
122,179 |
|
| Creditors: amounts falling due within one year |
5 |
|
(90,184) |
|
|
(115,065) |
|
| Net current (liabilities)/assets |
|
|
|
(40,805) |
|
|
7,114 |
|
| Total assets less current liabilities |
|
|
|
(21,780) |
|
|
26,425 |
|
|
| Provisions for liabilities |
|
|
|
- |
|
|
(3,280) |
|
|
| Net (liabilities)/assets |
|
|
|
(21,780) |
|
|
23,145 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
(21,880) |
|
|
23,045 |
|
| Shareholder's funds |
|
|
|
(21,780) |
|
|
23,145 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Mr B Mourra |
| Director |
| Approved by the board on 15 September 2017 |
|
| Screencult Ltd |
| Notes to the Accounts |
| for the year ended 31 December 2016 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
|
|
|
Transition to FRS 102 |
|
The entity transitioned from previous UK GAAP to FRS 102 as at 1 January 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in the notes below. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
25% reducing balance |
|
|
Debtors |
|
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
| 2 |
Employees |
2016 |
|
2015 |
| Number |
Number |
|
|
Average number of persons employed by the company |
8 |
|
8 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
| £ |
|
Cost |
|
At 1 January 2016 |
55,402 |
|
Additions |
6,056 |
|
At 31 December 2016 |
61,458 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2016 |
36,091 |
|
Charge for the year |
6,342 |
|
At 31 December 2016 |
42,433 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2016 |
19,025 |
|
At 31 December 2015 |
19,311 |
|
|
|
|
|
|
|
|
|
|
|
| 4 |
Debtors |
2016 |
|
2015 |
| £ |
£ |
|
|
Trade debtors |
33,250 |
|
86,991 |
|
Prepayments |
4,400 |
|
2,500 |
|
Accrued income |
4,719 |
|
- |
|
Other debtors |
6,760 |
|
6,760 |
|
|
|
|
|
|
49,129 |
|
96,251 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2016 |
|
2015 |
| £ |
£ |
|
|
Bank loans and overdrafts |
12,449 |
|
- |
|
Trade creditors |
1,418 |
|
- |
|
Accruals |
1,065 |
|
1,015 |
|
Directors' current accounts |
62,797 |
|
87,595 |
|
Corporation tax |
- |
|
14,895 |
|
Other taxes and social security costs |
10,275 |
|
11,560 |
|
Other creditors |
2,180 |
|
- |
|
|
|
|
|
|
90,184 |
|
115,065 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Other information |
|
|
Screencult Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
Flat 3 |
|
45 Hoxton Square |
|
London |
|
N1 6PD |
|
| 7 |
Transition to FRS 102 |
|
|
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 January 2015.
No transitional adjustments were required in equity or profit or loss for the year. |
