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Registered number: 08388668
STERNFORD LTD
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 APRIL 2018
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STERNFORD LTD
COMPANY INFORMATION
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A Kumar (appointed 4 December 2017)
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Mill House, Overbridge Square
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STERNFORD LTD
CONTENTS
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Notes to the financial statements
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STERNFORD LTD
REGISTERED NUMBER: 08388668
BALANCE SHEET
AS AT 30 APRIL 2018
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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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.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by o
Page 1
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STERNFORD LTD
REGISTERED NUMBER: 08388668
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2018
The notes on pages 3 to 4 form part of these financial statements.
Page 2
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STERNFORD LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2018
Sternford Ltd is a limited liability company incorporated in England and Wales. The address of its registered office and principal place of business is disclosed on the officers and professional advisors page.
2.Accounting policies
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Basis of preparation of financial statements
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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:
The directors have given assurance that the net assets of the company will be maintained at a level so as not to prove detrimental to other creditors of the company.
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Stocks & work in progress
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Production costs incurred during the period have been recognised as work in progress on the balance sheet, until the film is delivered to the commissioning distributor.
Upon final delivery of the film, it is acquired by the by the commissioning distributor and the production costs are then charged to the profit and loss account as cost of sales.
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.
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 banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Page 3
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STERNFORD LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2018
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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Allotted, called up and fully paid
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1,000 (2017 - 1,000) Class 'A' Ordinary shares of £1.00 each
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106,192 (2017 - 60,000) Class 'B' Ordinary shares of £1.00 each
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46,192 ordinary B shares were issued during the period.
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Related party transactions
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Included in other creditors is a loan from a director A Kumar of £199,602 (2017: £98,302).
During the year, Alipur Films Limited, a company incorporated in England & Wales of which A Kumar is the majority shareholder, supplied services to the value of £82,000 (2017: £242,500). Trade creditors include £82,000 (2017: £242,500) at the end of the year in respect of this service.
Included in other creditors is a loan of £76,638 (2017: £35,233) from Alipur Films Limited.
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The company was under the control of Mr A Kumar for the majority of the period.
Page 4
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STERNFORD LTD
Page 5
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