New Sparta Film Distribution Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 08696454 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2016

FOR

NEW SPARTA FILM DISTRIBUTION LIMITED

Page

Company Information

1

Chartered Certified Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

Dr J P Booth

I Dawson

REGISTERED OFFICE:

Abbey House

51 High Street

Saffron Walden

Essex

CB10 1AF

REGISTERED NUMBER:

08696454 (England and Wales)

ACCOUNTANTS:

Benten & Co

Chartered Certified Accountants

Abbey House

51 High Street

Saffron Walden

Essex

CB10 1AF

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Statement of Financial Position. Readers are cautioned that the Income

Statement and certain other primary statements and the Report of the Directors are not required to

be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of New Sparta Film Distribution Limited for the year ended

31 December 2016 which comprise the Income Statement, Statement of Financial Position, and the related

notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of New Sparta Film Distribution Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of New Sparta Film Distribution Limited and state those matters that we have agreed to state to the Board of Directors of New Sparta Film Distribution Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that New Sparta Film Distribution Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of New Sparta Film Distribution Limited. You consider that New Sparta Film Distribution Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of New Sparta Film Distribution Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Benten & Co

Chartered Certified Accountants

Abbey House

51 High Street

Saffron Walden

Essex

CB10 1AF

30 January 2018

FIXED ASSETS

Investments

3

500,000

500,000

CURRENT ASSETS

Debtors

4

18,021,114

15,227,727

CREDITORS

Amounts falling due within one year

5

28,290

3,320

NET CURRENT ASSETS

17,992,824

15,224,407

TOTAL ASSETS LESS CURRENT LIABILITIES

18,492,824

15,724,407

CREDITORS

Amounts falling due after more than one year

6

21,867,421

17,269,829

NET LIABILITIES

(3,374,597

)

(1,545,422

)

CAPITAL AND RESERVES

Called up share capital

7

1,000

1,000

Retained earnings

8

(3,375,597

)

(1,546,422

)

SHAREHOLDERS' FUNDS

(3,374,597

)

(1,545,422

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 29 January 2018 and were signed on its behalf by:

Dr J P Booth - Director

I Dawson - Director

1.	STATUTORY INFORMATION

New Sparta Film Distribution 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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

3.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2016

and 31 December 2016

500,000

NET BOOK VALUE

At 31 December 2016

500,000

At 31 December 2015

500,000

In April 2016 the Company entered into a loan agreement with Bank Leumi (UK) PLC.

A charge and deed of assignment between the Bank and the Company has been registered at

Companies House assigning the Bank the legal and beneficial ownership of 900 (nine hundred)

ordinary shares of £1 each in Icon Film Distribution Limited.

4.

DEBTORS

2016

2015

£

£

Amounts falling due within one year:

Other debtors

200

200

VAT

240

-

440

200

2016

2015

£

£

Amounts falling due after more than one year:

Amounts owed by group undertakings

15,063,555

14,495,649

Other debtors

2,957,119

731,878

18,020,674

15,227,527

Aggregate amounts

18,021,114

15,227,727

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Amounts owed to group undertakings

25,000

1,470

Other creditors

3,290

1,850

28,290

3,320

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Preference shares

17,859,078

15,044,849

Other creditors

4,008,343

2,224,980

21,867,421

17,269,829

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Preference shares

17,859,078

15,044,849

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

800

A Ordinary shares

£1

800

800

Allotted and issued:

Number:

Class:

Nominal

2016

2015

value:

£

£

200

Share capital B ordinary

£1

200

200

8.

RESERVES

Retained

earnings

£

At 1 January 2016

(1,546,422

)

Deficit for the year

(1,829,175

)

At 31 December 2016

(3,375,597

)

9.	ULTIMATE CONTROLLING PARTY

10.	GOING CONCERN

The financial statements have been prepared on a going concern basis. In the opinion of the directors

this is appropriate because they have undertaken to continue to support the company. The directors'

current accounts are interest free and unsecured, and the directors will not withdraw these funds in the

forthcoming year. The company is also dependent on the continued support of the bank. The

directors have undertaken to introduce further funds if the need arises.

The directors expect, therefore, that the company will be able to meet its liabilities as they fall due.

If the company was unable to continue trading, adjustments would have to be made to reduce the

value of the assets to their recoverable amount, to provide for any further liabilities which might arise,

and to reclassify fixed assets and long-term liabilities as current assets and liabilities.