REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2022 |
for |
Mola Entertainment Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2022 |
for |
Mola Entertainment Limited |
Mola Entertainment Limited (Registered number: 03505424) |
Contents of the Financial Statements |
for the Year Ended 31 December 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Mola Entertainment Limited |
Company Information |
for the Year Ended 31 December 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
First Floor |
Millennium House |
Victoria Road |
Douglas |
Isle of Man |
IM2 4RW |
Mola Entertainment Limited (Registered number: 03505424) |
Balance Sheet |
31 December 2022 |
2022 | 2021 |
Notes | $ | $ | $ | $ |
FIXED ASSETS |
Intangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Share premium | 8 |
Retained earnings | 8 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Mola Entertainment Limited (Registered number: 03505424) |
Notes to the Financial Statements |
for the Year Ended 31 December 2022 |
1. | STATUTORY INFORMATION |
Mola Entertainment Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Intangible fixed assets |
Film rights are shown at their cost to the company less any provision for impairment. |
Foreign currencies |
Assets and liabilities in foreign currencies, with the exception of share capital, are translated into United States dollars at the rates of exchange ruling at the Balance Sheet date. Share capital is translated at the historical rate. Transactions in foreign currencies are translated into United States dollars at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Going concern |
The financial statements have been prepared on a going concern basis notwithstanding the excess of liabilities over assets as the directors believe the beneficial owner will continue to make adequate funds available to enable the company to meet its liabilities as and when they fall due. The directors have no reason to believe that financial support will not continue in the future and considered it appropriate to adopt a going concern basis. The accounts do not contain any adjustments that would be necessary should this basis not be appropriate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2021 - NIL). |
4. | INTANGIBLE FIXED ASSETS |
Film |
rights |
$ |
COST |
At 1 January 2022 |
Disposals | ( |
) |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
$ | $ |
Prepayments |
Mola Entertainment Limited (Registered number: 03505424) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
$ | $ |
Trade creditors |
Silverstar loan | 52,189 | 53,225 |
The loan from Silverstar Limited is unsecured, interest-free and without a specified repayment date. |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | $ | $ |
Ordinary | £1 | 157 | 157 |
8. | RESERVES |
Retained | Share |
earnings | premium | Totals |
$ | $ | $ |
At 1 January 2022 | ( |
) | (53,130 | ) |
Deficit for the year | ( |
) | ( |
) |
At 31 December 2022 | ( |
) | (55,905 | ) |
9. | RELATED PARTY DISCLOSURES |
No transactions with related parties were undertaken such as are required to be disclosed under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. |
10. | POST BALANCE SHEET EVENTS |
The effect of events relating to the year ended 31 December 2022, which occurred before the date of approval of the financial statements by the directors, have been included to the extent required to show a true and fair view of the state of affairs at 31 December 2022 and of the results of the year ended on that date. |