Company Registration No. 12196612 (England and Wales)
KOALA FX LTD
Unaudited accounts
for the year ended 31 March 2023
KOALA FX LTD
Unaudited accounts
Contents
KOALA FX LTD
Company Information
for the year ended 31 March 2023
Directors
D Sherman
M Pampoukidis
Company Number
12196612 (England and Wales)
Registered Office
Studio E, The Courtyard
Gloucester Avenue
London
NW1 8JD
United Kingdom
Accountants
Eleve11 Consulting Ltd T/A Cloud Eleven Accountants
Palamos House
66-67 High St
Lymington
Hampshire
SO41 9AL
KOALA FX LTD
Statement of financial position
as at 31 March 2023
Intangible assets
25,896
-
Tangible assets
26,866
20,602
Cash at bank and in hand
218,731
426,200
Creditors: amounts falling due within one year
(355,544)
(672,076)
Net current assets/(liabilities)
168,473
(14,134)
Total assets less current liabilities
221,235
6,468
Provisions for liabilities
Deferred tax
(13,191)
(5,151)
Called up share capital
2
2
Profit and loss account
208,042
1,315
Shareholders' funds
208,044
1,317
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2023 and were signed on its behalf by
D Sherman
Director
Company Registration No. 12196612
KOALA FX LTD
Notes to the Accounts
for the year ended 31 March 2023
KOALA FX LTD is a private company, limited by shares, registered in England and Wales, registration number 12196612. The registered office is Studio E, The Courtyard, Gloucester Avenue, London, NW1 8JD, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33.3% Straight line
Fixtures & fittings
33.3% Straight line
Computer equipment
33.3% straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
These are amortised over 5 years.
Film Investments are impairment tested and included at fair value.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
KOALA FX LTD
Notes to the Accounts
for the year ended 31 March 2023
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
4
Intangible fixed assets
Other
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2022
316
5,008
28,004
33,328
Additions
-
6,167
15,074
21,241
At 31 March 2023
316
11,175
43,078
54,569
At 1 April 2022
35
308
12,383
12,726
Charge for the year
105
2,527
12,345
14,977
At 31 March 2023
140
2,835
24,728
27,703
At 31 March 2023
176
8,340
18,350
26,866
At 31 March 2022
281
4,700
15,621
20,602
Amounts falling due within one year
Trade debtors
36,000
27,717
Accrued income and prepayments
13,937
39,676
Other debtors
25,349
164,349
KOALA FX LTD
Notes to the Accounts
for the year ended 31 March 2023
7
Investments held as current assets
2023
2022
Unlisted investments
230,000
-
8
Creditors: amounts falling due within one year
2023
2022
Trade creditors
26,499
21,668
Taxes and social security
66,628
23,129
Loans from directors
41,821
507
Deferred income
90,000
470,000
9
Operating lease commitments
2023
2022
At 31 March 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
28,679
28,679
Later than one year and not later than five years
71,698
100,377
10
Post balance sheet events
On the 16th June 2023 the company issued new shares of varying share classes that increased the share capital to £100.
11
Average number of employees
During the year the average number of employees was 6 (2022: 1).