ACCOUNTS - Final Accounts

SLY FOX FILMS LIMITED - Company Information

Caseware UK (AP4) 2016.0.181 2016.0.181 2017-12-312017-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetruefilmfalse2017-01-01 01669978 2016-12-31 01669978 2017-01-01 2017-12-31 01669978 2017-12-31 01669978 c:Director1 2017-01-01 2017-12-31 01669978 d:PlantMachinery 2017-01-01 2017-12-31 01669978 d:PlantMachinery 2017-12-31 01669978 d:PlantMachinery 2016-12-31 01669978 d:PlantMachinery d:OwnedOrFreeholdAssets 2017-01-01 2017-12-31 01669978 d:CurrentFinancialInstruments 2017-12-31 01669978 d:CurrentFinancialInstruments 2016-12-31 01669978 c:FRS102 2017-01-01 2017-12-31 01669978 c:AuditExempt-NoAccountantsReport 2017-01-01 2017-12-31 01669978 c:FullAccounts 2017-01-01 2017-12-31 01669978 c:PrivateLimitedCompanyLtd 2017-01-01 2017-12-31 iso4217:GBP xbrli:pure

Registered number: 01669978

SLY FOX FILMS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017


SLY FOX FILMS LIMITED

CONTENTS

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2 - 5


SLY FOX FILMS LIMITED REGISTERED NUMBER:01669978

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2017

		2017		2016
Note		£		£


Fixed assets
Tangible assets	3		3,206		4,859
Current assets
Debtors: amounts falling due within one year	4	12,013		12,099
Cash at bank and in hand		6,102		6,071
		18,115		18,170

Creditors: amounts falling due within one year	5	(61,815)		(78,840)
Net current liabilities			(43,700)		(60,670)
Net liabilities			(40,494)		(55,811)

Capital and reserves
Called up share capital	6	2	2
Profit and loss account		(40,496)	(55,813)
		(40,494)	(55,811)

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 her 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 17 September 2018.

L M James

Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1


SLY FOX FILMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 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, Hertfordshire, WD6 1JD and its principal place of business is at Flat 22, 38 Ryland Road, Kentish Town, London NW5 3EH .
The principal activity of the company continued to be that of film production services and the exploitation of film rights on films it has previously produced.
The functional and presentational currency of the company is £ Sterling,

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

Going concern

The financial statements have been prepared on a going concern basis which assumes the continued financial support of the shareholders. In the absence of this continued financial support the going concern basis may be invalid and adjustments would have to be made to reduce the value of the assets to their recoverable amount, to provide for further liabilities that may arise and to reclassify fixed assets as current assets.

2.3

Revenue

Turnover comprises revenue recognised by the company in respect of services supplied during the year, exclusive of Value Added Tax.
Revenue is recognised on delivery of services.

2.4

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.

Page 2


SLY FOX FILMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

2.Accounting policies (continued)

2.4

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant & machinery

20%

Straight line

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.

2.5

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost 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.

Page 3


SLY FOX FILMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

3.	Tangible fixed assets

		Plant & machinery
		£
	Cost or valuation
	At 1 January 2017	24,971
	Additions	63
	At 31 December 2017	25,034
	Depreciation
	At 1 January 2017	20,112
	Charge for the year on owned assets	1,716
	At 31 December 2017	21,828
	Net book value
	At 31 December 2017	3,206
	At 31 December 2016	4,859

Debtors

					2017	2016
					£	£


Trade debtors	3,231	3,317
Other debtors	8,782	8,782
	12,013	12,099

5.	Creditors: Amounts falling due within one year
		2017	2016
		£	£

Corporation tax	-	1
Other taxation and social security	5,884	6,378
Other creditors	54,231	70,961
Accruals and deferred income	1,700	1,500
	61,815	78,840

Page 4


SLY FOX FILMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

6.	Share capital
		2017	2016
		£	£

Allotted, called up and fully paid

2 (2016 - 2) Ordinary shares of £1.00 each	2	2

Page 5