REGISTERED NUMBER:
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MATADOR PICTURES LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2017 |
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REGISTERED NUMBER:
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MATADOR PICTURES LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2017 |
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MATADOR PICTURES LIMITED (REGISTERED NUMBER: 07320720) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 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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MATADOR PICTURES LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2017 |
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Directors: |
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Registered office: |
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Registered number: |
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MATADOR PICTURES LIMITED (REGISTERED NUMBER: 07320720) |
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BALANCE SHEET |
30 JUNE 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
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Tangible assets | 5 |
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Current assets |
Stocks |
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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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Capital and reserves |
Called up share capital | 9 |
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Retained earnings | 10 | ( |
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Shareholders' funds | ( |
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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. |
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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 Board of Directors on
by: |
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MATADOR PICTURES LIMITED (REGISTERED NUMBER: 07320720) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2017 |
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1. | Statutory information |
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Matador Pictures Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | Accounting policies |
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Compliance with accounting standards |
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Significant judgements and estimates |
In applying the Company's accounting policies, the directors are required to make judgements, estimates and |
assumptions in determining the carrying amounts of assets and liabilities. The director's judgements, estimated |
and assumptions are based on the best and most reliable evidence available at the time when the decisions are |
made, and are based on historical experience and other factors that are considered to be applicable. Due to the |
inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and |
outcomes may differ. |
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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, if the revision affects only that period, or |
in the period of the revision and future periods, if the revision affects both current and future periods. |
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Critical judgements in applying the Company's accounting policies |
The critical judgement that the director has made in the process of applying the Company's accounting policies |
that have the most significant effect on the amounts recognised in the statutory financial statements are |
discussed below: |
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(i) Assessing indicators and impairment |
In assessing whether there have been any indicators or impairment assets, the directors have considered both |
external and internal sources of information such as market conditions, counterparty credit ratings and |
experience or recoverability. There have been no indicators or impairments identified during the current financial |
year. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in |
bringing stocks to their present location and condition. |
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MATADOR PICTURES LIMITED (REGISTERED NUMBER: 07320720) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2017 |
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2. | Accounting policies - continued |
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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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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Going concern |
These financial statements have been prepared on a going concern basis. |
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The current economic conditions present increased risks for all businesses. In response to such conditions, the |
directors have carefully considered these risks including an assessment on uncertainty on future trading |
projection for a period of at least 12 months from the date of signing the financial statements, and the extent to |
which they might affect the preparation of the financial statements on a going concern basis. |
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Based on assessment, the directors consider that the Company maintains an appropriate level of liquidity, |
sufficient to meet the demands of the business including any capital and servicing obligations and external debt |
liabilities. |
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In addition, the Company's assets are assessed for recoverability on a regular basis, and the directors consider |
that the Company is not exposed to losses on these assets which would affect their decision to adopt the going |
concern basis. |
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The directors have a reasonable expectation that the Company has adequate resources to continue in |
operational existence for the foreseeable future and that there are no material uncertainties that lead to |
significant doubts upon the Company's ability to continue as a going concern. Thus the directors have |
continued to adopt the going concern basis of accounting in preparing these financial statements. |
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Financial instruments |
Financial assets and liabilities are recognised when the Company becomes party to the contractual provisions of |
the financial instrument. The Company holds both basis and complex financial instruments which comprise cash |
and cash equivalents, trade and other receivables, equity investments derivative financial instruments, trade and |
other payables, convertible loan notes and loans and borrowings. The company has chosen to apply the |
provisions of Section 11 Basic Financial Instruments in full. |
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Financial assets - classified as basic financial instruments |
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(i) Cash and cash equivalents include cash in hand, deposits held with banks, and other short-term highly liquid |
investments with original maturities of three months or less. |
(ii) Trade and other receivables |
Trade and other receivables are initially recognised at the transaction price, including any transaction costs, and |
subsequently measured at amortised cost including the effective interest method, less any provision for |
impairment. Amounts that are receivable within one year are measured at the undiscounted amount of the cash |
expected to be received, net of any impairment. |
At the end of each reporting period, the Company assesses whether there is objective evidence that an |
receivable amount may be impaired. A provision for impairment is established when there is objective evidence |
that the Company will not be able to collect all amounts due according to the original terms of the receivables. |
The amount of the provision is the difference between the asset's carrying amount and the present value of the |
estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised |
immediately in profit or loss. |
(iii) Trade and other payables and loans and borrowings |
Trade and other payables and loans and borrowings are initially measured at the transaction price, including any |
transaction costs, and subsequently measured at amortised cost using the effective interest method. Amounts |
that are payable within one year are measured at the discounted amount of the cash expected to be paid. |
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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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MATADOR PICTURES LIMITED (REGISTERED NUMBER: 07320720) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2017 |
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4. | Intangible fixed assets |
Goodwill |
£ |
Cost |
At 1 July 2016 |
and 30 June 2017 |
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Amortisation |
At 1 July 2016 |
and 30 June 2017 |
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Net book value |
At 30 June 2017 |
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At 30 June 2016 |
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5. | Tangible fixed assets |
Computer |
equipment |
£ |
Cost |
At 1 July 2016 |
and 30 June 2017 |
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Depreciation |
At 1 July 2016 |
and 30 June 2017 |
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Net book value |
At 30 June 2017 |
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At 30 June 2016 |
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6. | Debtors: amounts falling due within one year |
2017 | 2016 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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VAT |
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7. | Creditors: amounts falling due within one year |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts (see note 8) |
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Trade creditors |
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Amounts owed to group undertakings |
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Tax |
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( |
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Social security and other taxes |
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VAT | - | 339 |
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MATADOR PICTURES LIMITED (REGISTERED NUMBER: 07320720) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2017 |
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8. | Loans |
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An analysis of the maturity of loans is given below: |
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2017 | 2016 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
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9. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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10. | Reserves |
Retained |
earnings |
£ |
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At 1 July 2016 | ( |
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Profit for the year |
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At 30 June 2017 | ( |
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11. | Ultimate controlling party |
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The controlling party is The Directors. |