Jackie Productions Limited Filleted accounts for Companies House (small and micro)

JACKIE PRODUCTIONS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09832992

Jackie Productions Limited

Filleted Unaudited Financial Statements

31 March 2018

Jackie Productions Limited

Statement of Financial Position

31 March 2018

	2018	2017
Note	$	$

Current assets

Stocks		13,442	5,987,974
Debtors	4	299,705	1,593,896
		---------	------------
		313,147	7,581,870

Creditors: amounts falling due within one year	5	315,485	7,587,328
		---------	------------
Net current liabilities		2,338	5,458
		-------	-------
Total assets less current liabilities		( 2,338)	( 5,458)
		-------	-------
Net liabilities		( 2,338)	( 5,458)
		-------	-------

Capital and reserves

Called up share capital	2	2
Profit and loss account	( 2,340)	( 5,460)
	-------	-------
Shareholder deficit	( 2,338)	( 5,458)
	-------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 23 October 2018 , and are signed on behalf of the board by:

Ms K Essayah
Director

Company registration number: 09832992

Jackie Productions Limited

Notes to the Financial Statements

Year ended 31 March 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 25 Powis Terrace, London, W11 1JJ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention, as modified by the method used to translate the issued share capital to US dollars, and in accordance with applicable accounting standards. The functional currency of the company is considered to be US Dollars because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in US Dollars, being the currency of its primary economic environment.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Stocks

This represents production costs of the film work in progress, and is stated at lower of cost and net realisable value.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Debtors

	2018	2017
	$	$
Trade debtors	299,705	1,593,896
	---------	------------

5. Creditors: amounts falling due within one year

	2018	2017
	$	$
Trade creditors	–	19,250
Production advances	240,000	7,546,068
Other creditors	75,485	22,010
	---------	------------
	315,485	7,587,328
	---------	------------