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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED |
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31 DECEMBER 2016 |
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NEW SPARTA FILMS LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED |
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31 DECEMBER 2016 |
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FOR |
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NEW SPARTA FILMS LIMITED |
NEW SPARTA FILMS LIMITED (REGISTERED NUMBER: 08699848) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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Company Information | 1 |
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Chartered Certified Accountants' Report | 2 |
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Statement of Financial Position | 3 |
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Notes to the Financial Statements | 5 |
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NEW SPARTA FILMS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
Abbey House |
51 High Street |
Saffron Walden |
Essex |
CB10 1AF |
CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
NEW SPARTA FILMS LIMITED |
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The following reproduces the text of the report prepared for the directors and members in respect of |
the company's annual unaudited financial statements. In accordance with the Companies Act 2006, |
the company is only required to file a Statement of Financial Position. Readers are cautioned that the |
Income Statement and certain other primary statements and the Report of the Directors are not |
required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your |
approval the financial statements of New Sparta Films Limited for the year ended 31 December 2016 which |
comprise the Income Statement, Statement of Financial Position and the related notes from the company's |
accounting records and from information and explanations you have given us. |
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As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
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This report is made solely to the Board of Directors of New Sparta Films Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of New Sparta Films Limited and state those matters that we have agreed to state to the Board of Directors of New Sparta Films Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that New Sparta Films Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of New Sparta Films Limited. You consider that New Sparta Films Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of New Sparta Films Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Certified Accountants |
Abbey House |
51 High Street |
Saffron Walden |
Essex |
CB10 1AF |
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NEW SPARTA FILMS LIMITED (REGISTERED NUMBER: 08699848) |
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STATEMENT OF FINANCIAL POSITION |
31 DECEMBER 2016 |
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2016 | 2015 |
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 and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
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NET 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: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
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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. |
NEW SPARTA FILMS LIMITED (REGISTERED NUMBER: 08699848) |
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STATEMENT OF FINANCIAL POSITION - continued |
31 DECEMBER 2016 |
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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
its behalf by: |
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NEW SPARTA FILMS LIMITED (REGISTERED NUMBER: 08699848) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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1. | STATUTORY INFORMATION |
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New Sparta Films Limited is a
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The 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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Basis of preparing the financial statements |
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Turnover |
Turnover comprises the amount of film recoupment income received in the year, together with the |
value of services supplied by the company, net of Value Added Tax. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Investment in film production and development projects |
Investment in film production and development projects are capitalised and amortised on a revenue |
forecast basis, recording the amortisation charge in cost of sales. |
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Amounts capitalised are reviewed on an annual basis and any amounts that appear to be irrecoverable |
from future net revenues are written-off to cost of sales during the period the loss becomes evident. |
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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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NEW SPARTA FILMS LIMITED (REGISTERED NUMBER: 08699848) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
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COST |
At 1 January 2016 |
and 31 December 2016 |
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DEPRECIATION |
At 1 January 2016 |
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Charge for year |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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5. | FIXED ASSET INVESTMENTS |
Other |
investments |
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COST |
At 1 January 2016 |
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Additions |
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Disposals | ( |
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At 31 December 2016 |
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PROVISIONS |
At 1 January 2016 | 5,446,867 |
Provision for year | 5,085,741 |
At 31 December 2016 | 10,532,608 |
NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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Financing costs of £34,541 (2015 £408,428) have been included in the additions for the year. |
NEW SPARTA FILMS LIMITED (REGISTERED NUMBER: 08699848) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade debtors |
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Other debtors |
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VAT |
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Prepayments and accrued income |
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Prepayments |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade creditors |
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Social security and other taxes |
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VAT | 36,188 | - |
Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
2016 | 2015 |
£ | £ |
Directors' loan accounts | 9,139,202 | 9,692,426 |
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9. | CALLED UP SHARE CAPITAL |
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Allotted and issued: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary share capital | £1 | 100 | 100 |
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10. | RESERVES |
Retained |
earnings |
£ |
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At 1 January 2016 | ( |
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Deficit for the year | ( |
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At 31 December 2016 | ( |
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NEW SPARTA FILMS LIMITED (REGISTERED NUMBER: 08699848) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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11. | ULTIMATE CONTROLLING PARTY |
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The controlling party is Dr J P Booth by virtue of his ownership of 70% of the issued share capital of the company . |
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12. | GOING CONCERN |
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The financial statements have been prepared on a going concern basis. In the opinion of the directors |
this is appropriate. The directors expect that the company will be able to meet its liabilities as they |
fall due. |
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If the company was unable to continue trading, adjustments would have to be made to reduce the |
value of the assets to their recoverable amount, to provide for any further liabilities which might arise, |
and to reclassify fixed assets and long-term liabilities as current assets and liabilities. |