Fresh Jade Limited - Accounts to registrar - small 16.1.1

REGISTERED NUMBER: 08764372 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

FRESH JADE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

K J Yau

T A Parkhouse

SECRETARY:

L K Macara

REGISTERED OFFICE:

3rd Floor

14 Floral Street

London

WC2E 9DH

REGISTERED NUMBER:

08764372 (England and Wales)

ACCOUNTANTS:

Shipleys LLP

Chartered Accountants

3 Godalming Business Centre

Woolsack Way

Godalming

Surrey

GU7 1XW

FIXED ASSETS

Investments

3

2

2

CURRENT ASSETS

Stocks

982,105

3,131,347

Debtors

4

422,960

27,263

Cash at bank

1,637,498

5,324

3,042,563

3,163,934

CREDITORS

Amounts falling due within one year

5

232,830

296,402

NET CURRENT ASSETS

2,809,733

2,867,532

TOTAL ASSETS LESS CURRENT LIABILITIES

2,809,735

2,867,534

CAPITAL AND RESERVES

Called up share capital

6

307,056

307,056

Share premium

2,756,935

2,756,935

Retained earnings

(254,256

)

(196,457

)

SHAREHOLDERS' FUNDS

2,809,735

2,867,534

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 19 December 2017 and were signed on its behalf by:

K J Yau - Director

1.	STATUTORY INFORMATION

Fresh Jade 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 accounts are prepared in Sterling, which is the functional and presentational currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has

affected the reported financial position and financial performance is given in note 11.

Significant judgements and estimates

The preparation of financial statements under FRS 102 requires the Company to make estimates and assumptions

that affect the application of policies and reported amounts. Estimates and judgements are continually evaluated

and are based on historical experience and other factors including expectations of future events that are believed

to be reasonable under the circumstances. Actual results may differ from these estimates. The estimates and

assumptions which have a risk of causing a material adjustment to the carrying amount of assets and liabilities

are discussed below.

The directors have considered the above and do not believe that there are any estimates or assumptions which

have a significant effect on the amounts recognised in the financial statements that require disclosure.

Turnover

Turnover comprises the company's revenue in respect of production and exploitation of television programmes

or films during the period exclusive of Value Added Tax. Fees are recognised once the right to the income has

been earned.

Stocks

Stock is stated at the lower of cost and net realisable value. Cost comprises expenditure in respect of the

development and production of television programmes or films. Net realisable value is the expected selling price

or other cumulative income stream that is prudently anticipated from a programme after taking account of costs

of completion and bringing it to market.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Deferred tax

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

sheet date. Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the

timing differences are expected to reverse. Deferred tax assets and liabilities are not discounted.

3.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2016

and 31 March 2017

2

NET BOOK VALUE

At 31 March 2017

2

At 31 March 2016

2

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Yes But Film Corp

Registered office: United States

Nature of business: Motion picture production activities

%

Class of shares:

holding

Common Stock

100.00

2017

£

Aggregate capital and reserves

76,197

Fratican Productions Inc.

Registered office: United States

Nature of business: Motion picture production activities

%

Class of shares:

holding

Common Stock

100.00

2017

£

Aggregate capital and reserves

1,444,270

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

384,676

-

Other debtors

38,284

27,263

422,960

27,263

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

52,874

5,682

Other creditors

179,956

290,720

232,830

296,402

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

3,070,550

A Ordinary shares

£0.10

307,055

307,055

10

B Ordinary shares

£0.10

1

1

307,056

307,056

Details of the various share rights attached to each type of share capital is included in the Articles of Association.

7.	RELATED PARTY DISCLOSURES

During the year the company made purchases from other group companies of £69,409 (2016: £2,810,704). As at

the year end date £Nil (2016: £Nil) was due to other group companies.

No further transactions were undertaken with related parties as such that are required to be disclosed under FRS

102.

8.	ULTIMATE CONTROLLING PARTY

The Directors do not consider there to be an ultimate controlling party of the Company.

9.	TRANSITION TO FRS 102

These are the first financial statements that comply with FRS 102. The Company transitioned to FRS 102 on 1

April 2015.

No transitional adjustments were required in equity or profit or loss for the year.