ACCOUNTS - Final Accounts

ACCOUNTS - Final Accounts

JIVA FILM LIMITED - Company Information

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Caseware UK (AP4) 2016.0.181 2016.0.181 2017-06-302017-06-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalseTBCfalse2016-07-01 02863621 2016-07-01 2017-06-30 02863621 2015-07-01 2016-06-30 02863621 2017-06-30 02863621 2016-06-30 02863621 c:Director1 2016-07-01 2017-06-30 02863621 d:FurnitureFittings 2016-07-01 2017-06-30 02863621 d:FurnitureFittings 2017-06-30 02863621 d:FurnitureFittings 2016-06-30 02863621 d:FurnitureFittings d:OwnedOrFreeholdAssets 2016-07-01 2017-06-30 02863621 d:CurrentFinancialInstruments 2017-06-30 02863621 d:CurrentFinancialInstruments 2016-06-30 02863621 d:CurrentFinancialInstruments d:WithinOneYear 2017-06-30 02863621 d:CurrentFinancialInstruments d:WithinOneYear 2016-06-30 02863621 d:ShareCapital 2017-06-30 02863621 d:ShareCapital 2016-06-30 02863621 d:RetainedEarningsAccumulatedLosses 2017-06-30 02863621 d:RetainedEarningsAccumulatedLosses 2016-06-30 02863621 c:FRS102 2016-07-01 2017-06-30 02863621 c:AuditExempt-NoAccountantsReport 2016-07-01 2017-06-30 02863621 c:FullAccounts 2016-07-01 2017-06-30 02863621 c:PrivateLimitedCompanyLtd 2016-07-01 2017-06-30 iso4217:GBP xbrli:pure

Registered number:02863621













JIVA FILM LIMITED
UNAUDITED
FINANCIAL STATEMENTS

FOR THE YEAR ENDED30 JUNE 2017
 
JIVA FILM LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 6

 
JIVA FILM LIMITED
REGISTERED NUMBER:02863621

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2017

2017
2016
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
2,298
2,872

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 5 
-
515

Cash at bank and in hand
  
26,379
13,512

  
26,379
14,027

CURRENT LIABILITIES
  

Creditors: amounts falling due within one year
 6 
(16,762)
(8,934)

NET CURRENT ASSETS
  
 
 
9,617
 
 
5,093

TOTAL ASSETS LESS CURRENT LIABILITIES
  
11,915
7,965

  

NET ASSETS
  
11,915
7,965


CAPITAL AND RESERVES
  

Called up share capital 
  
2
2

Profit and loss account
  
11,913
7,963

  
11,915
7,965


The director considers 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 director acknowledges his 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.

Page 1
 
JIVA FILM LIMITED
REGISTERED NUMBER:02863621
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2017

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 June 2018.




M Pandey
Director
The notes on pages 3 to 6 form part of these financial statements.

Page 2
 
JIVA FILM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2017

1.


GENERAL INFORMATION

The Company's legal form is that of a limited company incorporated in the United Kingdom. The Company's registered office is 5 Elstree Gate, Elstree Way, Borehamwood, United Kingdom, WD6 1JD.
The principal activity of the company during the year was that of film production and script writing.
The financial statements are presented in £ sterling, which is the functional currency of the company.

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

TURNOVER

Turnover represent amounts receivable for film script writing and royalties net of VAT wherever applicable.
Turnover is recognised as contract activity progresses to reflect the value of work carried out during the year.

 
2.3

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

Page 3
 
JIVA FILM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2017

2.ACCOUNTING POLICIES (continued)

 
2.4

BASIC FINANCIAL INSTRUMENTS

The company only enters into transactions that result in basic financial instruments such as trade and
other debtors, trade and other creditors, cash at bank and in hand, loans to/from related parties.
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction
price less attributable transaction costs. Trade creditors, other creditors and loans from related
parties are recognised initially at transaction price plus attributable transaction costs. Subsequently
they are measured at amortised cost using the effective interest method, less any impairment losses
in the case of trade and other debtors, and loans to related parties.
Interest bearing borrowings, such bank loans, classified as basic financial instruments are recognised
initially at the present value of future payments discounted at a maket rate of interest. Thereafter they are stated at amortised cost using the effective interest method.
Cash and cash equivalents comprise cash balances and call deposits. Bank overdrafts that are
repayable on demand and form an integral part of the company's cash management.

 
2.5

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.

 
2.6

DIVIDENDS

Equity dividends are recognised when they become legally payable.

 
2.7

INTEREST INCOME

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

 
2.8

TAXATION

Tax is recognised in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 1 (2016 -1).

Page 4
 
JIVA FILM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2017

4.


TANGIBLE FIXED ASSETS





Fixtures and fittings

£



COST OR VALUATION


At 1 July 2016
11,654



At 30 June 2017

11,654



DEPRECIATION


At 1 July 2016
8,782


Charge for the year on owned assets
574



At 30 June 2017

9,356



NET BOOK VALUE



At 30 June 2017
2,298



At 30 June 2016
2,872


5.


DEBTORS

2017
2016
£
£


Other debtors
-
515



6.


CREDITORS: Amounts falling due within one year

2017
2016
£
£

Corporation tax
9,929
4,370

Other taxation and social security
4,480
-

Other creditors
103
2,314

Accruals and deferred income
2,250
2,250

16,762
8,934


Page 5
 
JIVA FILM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2017

7.


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.

 
Page 6