Company Registration No. 09190123 (England and Wales)
BAD2RO FILMS LIMITED
ANNUAL REPORT AND UNAUDITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
30 AUGUST 2018
PAGES FOR FILING WITH REGISTRAR
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
BAD2RO FILMS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
BAD2RO FILMS LIMITED
Company Registration No. 09190123
BALANCE SHEET
AS AT
30 AUGUST 2018
30 August 2018
- 1 -
2018
2017
Notes
£
£
£
£
Current assets
Debtors
3
13,029
7,201
Cash at bank and in hand
2,549
7,321
15,578
14,522
Creditors: amounts falling due within one year
4
(15,421)
(14,376)
Net current assets
157
146
Capital and reserves
Called up share capital
5
1
1
Profit and loss reserves
156
145
Total equity
157
146
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial Period ended 30 August 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his 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 Period 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.
The financial statements were approved and signed by the director and authorised for issue on 28 August 2019
A Calvete
Director
BAD2RO FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 AUGUST 2018
- 2 -
1
Accounting policies
Company information
Bad2ro Films Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
The Old Rectory, Church Street, Weybridge, Surrey, KT13 8DE.
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 £.
The financial statements have been prepared under the historical cost convention
. T
he principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration receivable
for post production
services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Cash at bank and in hand
Cash at bank and in hand
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.
1.4
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.
1.5
Taxation
The tax expense represents the sum of the tax currently
payable.
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the Period was 1 (2017 - 1
).
BAD2RO FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 AUGUST 2018
- 3 -
3
Debtors
2018
2017
Amounts falling due within one year:
£
£
Other debtors
13,029
7,201
4
Creditors: amounts falling due within one year
2018
2017
£
£
Other taxation and social security
13,279
12,294
Other creditors
2,142
2,082
15,421
14,376
5
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £1 each
1
1
6
Director's benefits: advances, credits and guarantees
At the beginning of the year
the director owed £5,429
to the company
. During the year advances totalling £13,990
were made to the director. No individual advances in excess of £10,000 were made during the
year.
Repayments by the director during the
year totalled £9,587
which
did not include any individual repayments in excess of £10,000. At the end of the year the balance due from the director was £9,832
.