Orion Cinemas Limtied |
|
Report to the director on the preparation of the unaudited abbreviated accounts of Orion Cinemas Limtied for the year ended 31 May 2016 |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Orion Cinemas Limtied for the year ended 31 May 2016 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us. |
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://rulebook.accaglobal.com/ |
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. |
|
Keith Knowles Accountants Limited |
Chartered Certified Accountants |
The History Room at Farnham Pottery |
Pottery Lane |
Wrecclesham, Farnham |
Surrey |
GU10 4QJ |
|
27 February 2017 |
|
Orion Cinemas Limtied
|
Registered number: |
03035321
|
Abbreviated Balance Sheet |
as at 31 May 2016
|
|
Notes |
|
|
2016 |
|
|
2015 |
£ |
£ |
Fixed assets |
Intangible assets |
2 |
|
|
- |
|
|
- |
Tangible assets |
3 |
|
|
105,868 |
|
|
98,882 |
|
|
|
|
105,868 |
|
|
98,882 |
|
Current assets |
Stocks |
|
|
8,911 |
|
|
6,465 |
Debtors |
|
|
21,719 |
|
|
22,786 |
Cash at bank and in hand |
|
|
97,151 |
|
|
135,179 |
|
|
|
127,781 |
|
|
164,430 |
|
Creditors: amounts falling due within one year |
|
|
(76,009) |
|
|
(88,157) |
|
Net current assets |
|
|
|
51,772 |
|
|
76,273 |
|
Total assets less current liabilities |
|
|
|
157,640 |
|
|
175,155 |
|
Creditors: amounts falling due after more than one year |
|
|
|
(5,841) |
|
|
(8,779) |
|
Provisions for liabilities |
|
|
|
(4,077) |
|
|
(6,497) |
|
|
Net assets |
|
|
|
147,722 |
|
|
159,879 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
5 |
|
|
150,000 |
|
|
150,000 |
Share premium |
|
|
|
20,000 |
|
|
20,000 |
Profit and loss account |
|
|
|
(22,278) |
|
|
(10,121) |
|
Shareholders' funds |
|
|
|
147,722 |
|
|
159,879 |
|
|
|
|
|
|
|
|
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
|
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
|
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
|
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
|
|
|
|
L G Allwood |
Director |
Approved by the board on 27 February 2017
|
|
Orion Cinemas Limtied
|
Notes to the Abbreviated Accounts |
for the year ended 31 May 2016
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
|
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
|
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Leasehold Property |
Over the period of the lease |
|
Plant and machinery |
10% - 20% of net book value per annum
|
|
Motor vehicles |
20% of net book value per annum
|
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
Leasing and hire purchase commitments |
|
Rentals paid under operating leases are charged to income on a straight line basis over the lease term. |
|
|
Grants |
|
Grants received towards the cost of tangible fixed assets are included in creditors as deferred income and credited to the profit and loss account over the life of the asset. |
|
|
2 |
Intangible fixed assets |
£ |
|
|
Cost |
|
At 1 June 2015 |
64,000 |
|
At 31 May 2016 |
64,000 |
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 June 2015 |
64,000 |
|
At 31 May 2016 |
64,000 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 May 2016 |
- |
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 June 2015 |
264,537 |
|
Additions |
23,296 |
|
Disposals |
(8,139) |
|
At 31 May 2016 |
279,694 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 June 2015 |
165,655 |
|
Charge for the year |
13,547 |
|
On disposals |
(5,376) |
|
At 31 May 2016 |
173,826 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 May 2016 |
105,868 |
|
At 31 May 2015 |
98,882 |
|
|
|
|
|
|
|
|
4 |
Loans |
2016 |
|
2015 |
£ |
£ |
|
Creditors include: |
|
Secured bank loans |
8,778 |
|
21,212 |
|
|
|
|
|
|
|
|
|
|
The bank loans are secured by a fixed and floating charge on the company assets. |
|
5 |
Share capital |
Nominal |
|
2016 |
|
2016 |
|
2015 |
value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares
|
£1 each |
|
150,000 |
|
150,000 |
|
150,000 |
|
|
|
|
|
|
|
|
|