ACCOUNTS - Final Accounts preparation

KIN MOT PICS LIMITED - Company Information

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Registered number: 10707834

KIN MOT PICS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 APRIL 2018

KIN MOT PICS LIMITED

REGISTERED NUMBER: 10707834

STATEMENT OF FINANCIAL POSITION

AS AT 30 APRIL 2018

		2018
Note		£


Current assets
Stocks	4	103,014
Cash at bank and in hand	5	100
		103,114
Creditors: amounts falling due within one year	6	(114,564)
Net current (liabilities)/assets			(11,450)
Total assets less current liabilities			(11,450)

Net (liabilities)/assets			(11,450)

Capital and reserves
Called up share capital	7	1
Share premium account		99
Profit and loss account		(11,550)
		(11,450)

The directors consider 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 period in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their 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 income and retained earnings 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 4 January 2019.

R Morris

Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

KIN MOT PICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 APRIL 2018

1.	General information

Kin Mot Pics Limited is a private company limited by shares and registered in England & Wales. The address of its registered office and principal place of business is Markerstudy House, 45 Westerham Road, Bessels Green, Sevenoaks, Kent, United Kingdom, TN13 2QB.

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

At the reporting date the company had net liabilities of £11,450 and is dependent on the support of its investors who have confirmed their intention to support the company. As a result the directors believe it is appropriate to prepare the accounts on the going concern basis. The financial statements do not include adjustments that would result from the withdrawal of this financial support.

2.3

Stocks

Stocks comprise film production costs, which are recorded as a current asset. Film production costs are amortised to the Statement of Income and Retained Earnings over the period in which rights to the relevant production are being exploited by the Company.

2.4

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.

2.5

Creditors

Short term creditors are measured at the transaction price.

2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from other third parties and loans from related parties.

Employees

The average monthly number of employees, including directors, during the period was 3.

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KIN MOT PICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 APRIL 2018

4.	Stocks
		2018
		£

	Film production costs	103,014
		103,014

5.	Cash and cash equivalents
		2018
		£

	Cash at bank and in hand	100
		100

6.	Creditors: Amounts falling due within one year
		2018
		£

	Trade creditors	104,800
	Accruals and deferred income	9,764
		114,564

7.	Share capital
		2018
		£

		Allotted, called up and fully paid

		1 A Ordinary share of £1.00	1

On incorporation, the company issued 1 A Ordinary share of £1 at a premium of £99 for a cash consideration.

8.	Related party transactions
	During the period, producer fees totalling £20,000 were payable to W DeRosa, a director of the company. All transactions were carried out at arms length.

Page 3

KIN MOT PICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 APRIL 2018

9.	Post balance sheet events

On 22 June 2018, the company issued a further A Ordinary share of £1 at a premium of £99 for a cash consideration.
On 11 September 2018, the company issued 4,700 B Ordinary shares of £1 each at a premium of £99 per share for a cash consideration.

10.	Controlling party

Throughout the period, the company was under the control of R Morris by virtue of his shareholding.

Page 4