Company Registration No. 06610472 (England and Wales)
FILM LOUNGE (LONDON) LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
FILM LOUNGE (LONDON) LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
FILM LOUNGE (LONDON) LTD
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
19,232
25,643
Current assets
Cash at bank and in hand
-
231
Creditors: amounts falling due within one year
(144,800)
(141,293)
Net current liabilities
(144,800)
(141,062)
Total assets less current liabilities
(125,568)
(115,419)
Capital and reserves
Called up share capital
3
11,262
11,262
Share premium account
129,350
129,350
Profit and loss account
(266,180)
(256,031)
Shareholders' funds
(125,568)
(115,419)
For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 19 June 2015
Mr Terry Pettit
Director
Company Registration No. 06610472
FILM LOUNGE (LONDON) LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The company meets its day to day working capital requirements through the support of the directors. This support has been confirmed for a period of at least twelve months from the date of approval of the financial statements. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Patents
Patents are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful lives.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
25% - Reducing balance
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2014 & at 31 March 2015
27,500
134,348
161,848
Depreciation
At 1 April 2014
27,500
108,705
136,205
Charge for the year
-
6,411
6,411
At 31 March 2015
27,500
115,116
142,616
Net book value
At 31 March 2015
-
19,232
19,232
At 31 March 2014
-
25,643
25,643
FILM LOUNGE (LONDON) LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
9,240 Ordinary A shares of £1 each
9,240
9,240
2,022 Ordinary B shares of £1 each
2,022
2,022
11,262
11,262
All shares rank pari passu.