ACCOUNTS - Final Accounts

THE RIZEN 1 LIMITED - Company Information

Caseware UK (AP4) 2016.0.181 2016.0.181 2016-12-312016-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2016-01-01 09176253 2016-01-01 2016-12-31 09176253 2015-08-01 2015-12-31 09176253 2016-12-31 09176253 2015-12-31 09176253 c:Director2 2016-01-01 2016-12-31 09176253 d:CurrentFinancialInstruments 2016-12-31 09176253 d:CurrentFinancialInstruments 2015-12-31 09176253 d:CurrentFinancialInstruments d:WithinOneYear 2016-12-31 09176253 d:CurrentFinancialInstruments d:WithinOneYear 2015-12-31 09176253 d:ShareCapital 2016-12-31 09176253 d:ShareCapital 2015-12-31 09176253 d:SharePremium 2016-12-31 09176253 d:SharePremium 2015-12-31 09176253 d:RetainedEarningsAccumulatedLosses 2016-12-31 09176253 d:RetainedEarningsAccumulatedLosses 2015-12-31 09176253 c:FRS102 2016-01-01 2016-12-31 09176253 c:AuditExempt-NoAccountantsReport 2016-01-01 2016-12-31 09176253 c:FullAccounts 2016-01-01 2016-12-31 09176253 c:PrivateLimitedCompanyLtd 2016-01-01 2016-12-31 iso4217:GBP xbrli:pure

Registered number: 09176253

THE RIZEN 1 LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

THE RIZEN 1 LIMITED

REGISTERED NUMBER: 09176253

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2016

		2016		2015
Note		£		£


Current assets
Film production costs		139,743		139,247
Debtors: amounts falling due within one year	4	14,926		47,323
Cash at bank and in hand	5	1,565		1,510
		156,234		188,080
Creditors: amounts falling due within one year	6	(15,400)		(45,292)
Net current assets			140,834		142,788
Total assets less current liabilities			140,834		142,788

Net assets			140,834		142,788

Capital and reserves
Called up share capital	2,910	2,910
Share premium account	139,590	139,590
Profit and loss account	(1,666)	288
	140,834	142,788

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 September 2017.

C Pearce

Director

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THE RIZEN 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

1.	General information

The Rizen 1 Limited is a private company limited by shares and registered in England & Wales. The address of its registered office is 24 Gloucester Road, Dartford, Kent DA1 3DJ.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Film production costs

Film production costs comprise the cumulative amounts expended in producing the film; they are recorded as a current asset. This cost is being amortised to the statement of comprehensive income over the period in which the rights to the relevant film are being exploited by the company.

2.3

Debtors

Short term debtors are measured at transaction price, less any impairment.

2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.5

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

2.6

Creditors

Short term creditors are measured at the transaction price.

2.7

Finance costs

Finance costs are charged to the statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.8

Interest income

Interest income is recognised in the statement of comprehensive income using the effective interest method.

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THE RIZEN 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

2.Accounting policies (continued)

2.9

Taxation

Tax is recognised in the Statement of Comprehensive Income. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.
The company is eligible to claim a tax credit on film production costs. The tax credit comprises relief based on total net costs and an additional deduction for enhanceable expenditure. The company claims a payment based on the amount of enhanceable expenditure and carries losses arising from total net costs forward against future profits.

Employees

The average monthly number of employees, including directors, during the year was 2 (2015 - 2).

Debtors

					2016	2015
					£	£


Other debtors	14,926	47,323
	14,926	47,323

5.	Cash and cash equivalents
		2016	2015
		£	£

Cash at bank and in hand	1,565	1,510
	1,565	1,510

6.	Creditors: Amounts falling due within one year
		2016	2015
		£	£

Trade creditors	1,200	-
Other creditors	13,000	42,292
Accruals and deferred income	1,200	3,000
	15,400	45,292

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THE RIZEN 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

7.	Related party transactions
	Included in other debtors is an amount of £7,481 (2015: £8,684) due from Lost Eye Films Ltd, a company of which M Mitchell and C Pearce are directors. Included in other debtors is an amount of £7,445 (2015: £11,065) due from The Rizen 2 Limited, a company of which M Mitchell and C Pearce are directors.

8.	Controlling party

Throughout the current and preceeding year, the company was under the control of its directors by virtue of their shareholding.

9.	First time adoption of FRS 102 The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

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