Company registration number 05977356 (England and Wales)
KINDLE ENTERTAINMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
PAGES FOR FILING WITH REGISTRAR
KINDLE ENTERTAINMENT LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
KINDLE ENTERTAINMENT LIMITED
BALANCE SHEET
AS AT
31 MARCH 2022
31 March 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
12,883
4,164
Investments
4
776
775
13,659
4,939
Current assets
Debtors
6
1,383,112
1,158,739
Cash at bank and in hand
456,197
201,476
1,839,309
1,360,215
Creditors: amounts falling due within one year
7
(653,627)
(816,298)
Net current assets
1,185,682
543,917
Total assets less current liabilities
1,199,341
548,856
Creditors: amounts falling due after more than one year
8
(111,111)
(177,778)
Provisions for liabilities
(2,448)
(124)
Net assets
1,085,782
370,954
Capital and reserves
Called up share capital
242
242
Share premium account
427,219
427,219
Profit and loss reserves
658,321
(56,507)
Total equity
1,085,782
370,954
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
KINDLE ENTERTAINMENT LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2022
31 March 2022
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 21 December 2022 and are signed on its behalf by:
Ms M Stokes
Director
Company Registration No. 05977356
KINDLE ENTERTAINMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
- 3 -
1
Accounting policies
Company information
Kindle Entertainment Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
27 Mortimer Street, London, W1T 3BL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
1.2
Turnover
Turnover represents amounts received and receivable for the production and development of television programmes exclusive of value-added-tax.
Turnover and related costs from television production are generally recognised when programmes are delivered in some cases they will be recognised on a time/cost weighted basis.
Amounts received under agreements for which contractual obligations have not been fulfilled and which have not been credited to the profit and loss are included on the balance sheet.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
25% reducing balance basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in
profit
or
loss
.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
1.5
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
KINDLE ENTERTAINMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Derivatives including forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are
recognised in profit or loss in finance costs or income as appropriate.
In respect of forward foreign exchange contracts, the movement in fair value at the balance sheet date is recognised within the statement of comprehensive income.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the
profit and loss account
, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
KINDLE ENTERTAINMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 5 -
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.10
Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
1.11
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
1.12
Foreign exchange
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Critical judgements
The following judgements (apart from those involving estimates) have had the most significant
effect on amounts recognised in the financial statements.
Forward exchange contracts
KINDLE ENTERTAINMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 6 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2021
5,593
Additions
11,419
At 31 March 2022
17,012
Depreciation and impairment
At 1 April 2021
1,429
Depreciation charged in the year
2,700
At 31 March 2022
4,129
Carrying amount
At 31 March 2022
12,883
At 31 March 2021
4,164
4
Fixed asset investments
2022
2021
£
£
Shares in group undertakings and participating interests
776
775
Movements in fixed asset investments
Shares in subsidiaries and associates
£
Cost or valuation
At 1 April 2021
775
Additions
1
At 31 March 2022
776
Carrying amount
At 31 March 2022
776
At 31 March 2021
775
5
Subsidiary undertakings, associated undertakings and other investments
The undertakings in which the company's interest at 31 March 2022 is 20% or more are as follows:
KINDLE ENTERTAINMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
5
Subsidiary undertakings, associated undertakings and other investments
(Continued)
- 7 -
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Hank Zipzer Productions Limited
England & Wales
Ordinary
100.00
Kindle Entertainment (Big & Small) Limited
England & Wales
Ordinary
100.00
Kindle Entertainment (Hank Zipzer) Limited
England & Wales
Ordinary
100.00
Kindle Entertainment Productions Limited
England & Wales
Ordinary
100.00
The A List (KEL) Limited
England & Wales
Ordinary
100.00
The A List 2 (KEL) Limited
England & Wales
Ordinary
100.00
KEL Entertainment LLC
United States Of America
Ordinary
100.00
Kindle (Little Darlings) Limited
England & Wales
Ordinary
100.00
Dinopaws UK Limited
England & Wales
Ordinary
50.00
Kiss Me First Limited
England & Wales
Ordinary
50.00
FKAI Productions Limited
England & Wales
Ordinary
50.00
6
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
600,755
343,972
Amounts owed by group undertakings
2,532
Other debtors
782,357
812,235
1,383,112
1,158,739
7
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
72,222
22,222
Trade creditors
4,950
37,174
Amounts owed to group undertakings and undertakings in which the company has a participating interest
97,174
76,062
Taxation and social security
71,157
92,653
Other creditors
408,124
588,187
653,627
816,298
8
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
111,111
177,778
KINDLE ENTERTAINMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 8 -
9
Financial commitments, guarantees and contingent liabilities
The company enters into forward exchange contracts to hedge certain portions of forecasted cash flows denominated in foreign currencies.
At the year end the company had two contracts with a value totalling $1,898,333 (2021: Nil contracts with a total value of $Nil).
These contracts can be exercised between 1st April 2022 and 31st August 2022.
10
Related party transactions
The company has taken advantage of the exemption available in accordance with FRS 102, section 33 'Related party disclosures' not to disclose transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.
2022-03-31
2021-04-01
false
21 December 2022
CCH Software
CCH Accounts Production 2022.300
No description of principal activity
Ms A Brogan
Ms M Stokes
Mr Kevin Beggs
Mr Benoit Di Sabatino
Mr Ludovic Taron
Mr Jeremie Becamel
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