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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2017 |
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CELI FILMS LIMITED |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2017 |
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FOR |
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CELI FILMS LIMITED |
CELI FILMS LIMITED (REGISTERED NUMBER: 03681434) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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CELI FILMS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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The Apple Barn |
Langley Park |
Sutton Road |
Maidstone |
Kent |
ME17 3NQ |
CELI FILMS LIMITED (REGISTERED NUMBER: 03681434) |
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BALANCE SHEET |
31 DECEMBER 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | 13 | ( |
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The director acknowledges his responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006
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(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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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CELI FILMS LIMITED (REGISTERED NUMBER: 03681434) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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1. | STATUTORY INFORMATION |
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Celi Films Limited is a
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number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover comprises the value of goods and services invoiced by the company, net of value added tax. . |
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Tangible fixed assets and depreciation |
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Production equipment | - |
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Office equipment | - |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent |
that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively |
enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in |
which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted |
or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be |
recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet |
date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. |
Exchange differences are taken into account in arriving at the operating result. |
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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 profit or loss in the period to which they relate. |
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Going concern |
The financial statements have been prepared on a going concern basis, which assumes that the company will continue in |
operation for the foreseeable future, on the ground that continued financial support will be forthcoming. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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CELI FILMS LIMITED (REGISTERED NUMBER: 03681434) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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4. | TANGIBLE FIXED ASSETS |
Production | Office |
equipment | equipment | Totals |
£ | £ | £ |
COST |
At 1 January 2017 |
and 31 December 2017 |
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DEPRECIATION |
At 1 January 2017 |
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Charge for year |
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At 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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5. | FIXED ASSET INVESTMENTS |
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Investments (neither listed nor unlisted) were as follows: |
2017 | 2016 |
£ | £ |
Film participation | 19,613 | 19,868 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | CONTINGENT LIABILITIES |
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The company had no contingent liabilities at the year end. |
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9. | CAPITAL COMMITMENTS |
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The company had no capital commitments at the year end. |
CELI FILMS LIMITED (REGISTERED NUMBER: 03681434) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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10. | RELATED PARTY DISCLOSURES |
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At the year end the company owed Mr S Celebidachi the sum of £1,034,501 (2016 - £1,004,8888). Mr Celebidachi ceased |
to be a director shortly after the year end and so the loan to the company has been reclassified. The loan has no repayment |
terms but is deemed to be a current liability as it may be withdrawn at any time. |
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The company also owed £625,800 to CJ Motorsport Consulting Limited, a debt arising from trading activities. The two |
companies are under common control. |
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11. | POST BALANCE SHEET EVENTS |
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There have been no significant Post Balance Sheet events. |
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12. | ULTIMATE CONTROLLING PARTY |
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Mr S I Celebidachi as the majority shareholder in the company is the ultimate controlling party. |
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13. | RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS |
2017 | 2016 |
£ | £ |
Loss for the financial year | ( |
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Net reduction of shareholders' funds | (25,101 | ) | (42,639 | ) |
Opening shareholders' funds | (1,610,764 | ) | (1,568,125 | ) |
Closing shareholders' funds | (1,635,865 | ) | (1,610,764 | ) |