Trapdoor Films Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05823441 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MAY 2014

FOR

TRAPDOOR FILMS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

S George

E George

REGISTERED OFFICE:

Skyview House

10 St Neots Road

Sandy

Bedfordshire

SG19 1LB

REGISTERED NUMBER:

05823441 (England and Wales)

ACCOUNTANTS:

The Blue Skies Partnership

Skyview House

10 St Neots Road

Sandy

Bedfordshire

SG19 1LB

BANKERS:

Barclays Bank Plc

High Street

Leicester

LE872BB

FIXED ASSETS

Tangible assets

2

1,152

2,661

CURRENT ASSETS

Debtors

10,770

-

Cash at bank

23,532

39,739

34,302

39,739

CREDITORS

Amounts falling due within one year

13,494

15,195

NET CURRENT ASSETS

20,808

24,544

TOTAL ASSETS LESS CURRENT LIABILITIES

21,960

27,205

CAPITAL AND RESERVES

Called up share capital

3

1

1

Profit and loss account

21,959

27,204

SHAREHOLDERS' FUNDS

21,960

27,205

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 27 January 2015 and were signed on its behalf by:

S George - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover and revenue recognition

Turnover represents fees received for work done during the year, excluding value added tax.

Fee income represents revenue earned under a wide variety of contracts to provide television and film services.

Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in

exchange for its performance under these contracts. It is measured at the fair value of the right to consideration,

which represents amounts chargeable to customers, including expenses and disbursements but excluding value

added tax.

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the

partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual

of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included

in debtors. Payments on account in excess of the relevant amount of revenue are included in creditors.

Fee income that is contingent on events outside the control of the firm is recognised when the contingent event

occurs.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

33% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2013

and 31 May 2014

14,585

DEPRECIATION

At 1 June 2013

11,924

Charge for year

1,509

At 31 May 2014

13,433

NET BOOK VALUE

At 31 May 2014

1,152

At 31 May 2013

2,661

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.14

31.5.13

value:

£

£

1

Ordinary

£1

1

1

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Amounts of £6,584 (2013: £60,647) were advanced interest free, and repayable on demand, to the directors

during the year. At the year end, £103 was owed to the directors by the company. (2013: £110).

5.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S George.