Company Registration No. 07813566 (England and Wales)
Simon, Nathan, Gavin, Richard and Ralph Ltd
Annual report and unaudited financial statements
For the year ended 31 December 2016
Pages for filing with registrar
55 L
oudoun Road
St J
ohn's Wood
Lon
don NW8 0DL
SIMON, NATHAN, GAVIN, RICHARD AND RALPH LTD
Simon, Nathan, Gavin, Richard and Ralph Ltd
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
SIMON, NATHAN, GAVIN, RICHARD AND RALPH LTD
Simon, Nathan, Gavin, Richard and Ralph Ltd
BALANCE SHEET
AS AT
31 DECEMBER 2016
31 December 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
4
-
3,767
Tangible assets
5
115
368
Investments
6
138,747
416,242
138,862
420,377
Current assets
Debtors
7
37,904
167,903
Cash at bank and in hand
120,493
29,933
158,397
197,836
Creditors: amounts falling due within one year
8
(1,214,774)
(1,253,350)
Net current liabilities
(1,056,377)
(1,055,514)
Total assets less current liabilities
(917,515)
(635,137)
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
(917,615)
(635,237)
Total equity
(917,515)
(635,137)
The director of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T he director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
he director acknowledges his responsibilities for complying with the requirements of the Act 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 year in question in accordance with section 476 .
he members have not required the company to obtain an audit of its financial statements for the year 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 within Part 15 of the Companies Act 2006 .
within Part 15 of the Companies Act 2006
.
SIMON, NATHAN, GAVIN, RICHARD AND RALPH LTD
Simon, Nathan, Gavin, Richard and Ralph Ltd
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2016
31 December 2016
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 28 September 2017 and are signed on its behalf by:
K S Fowler
Director
Company Registration No. 07813566
SIMON, NATHAN, GAVIN, RICHARD AND RALPH LTD
Simon, Nathan, Gavin, Richard and Ralph Ltd
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
- 3 -
1
Accounting policies
Company information
Simon, Nathan, Gavin, Richard and Ralph Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
55 Loudoun Road, St John's Wood, London, NW8 0DL.
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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
The company recorded a loss of £282,378 (2015: £255,652) for the year and had net current liabilities of £1,056,377 (2015: £1,055,514) at the year end.
At the balance sheet date, the company was financed by loans of £1,202,777 (2015: £1,236,637) from the director K S Fowler and a company owned by K S Fowler. The director has confirmed that sufficient finance will continue to be made available to the company to enable it to continue to trade for the foreseeable future. Accordingly he considers it appropriate to prepare the accounts on a going concern basis.
The financial statements do not include any adjustments that would result from a withdrawal of financial support.
1.3
Turnover
Turnover represents licence fees and royalties receivable by the company from the exploitation of film rights. Licence fees are recognised when they become contractually due to the company. Royalties are recognised for the period in which they are earned.
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date if the fair value can be measured reliably.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Website development
33.3% on cost
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
SIMON, NATHAN, GAVIN, RICHARD AND RALPH LTD
Simon, Nathan, Gavin, Richard and Ralph Ltd
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2016
1
Accounting policies
(Continued)
- 4 -
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Audio equipment
33% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.6
Fixed asset investments
Investments held as fixed assets
are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
1.7
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
, intangible and investment
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8
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.
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.9
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2 (2015 - 2).
SIMON, NATHAN, GAVIN, RICHARD AND RALPH LTD
Simon, Nathan, Gavin, Richard and Ralph Ltd
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2016
- 5 -
3
Taxation
2016
2015
£
£
Current tax
UK corporation tax on profits for the current period
-
99
Adjustments in respect of prior periods
-
(19,219)
Total UK current tax
-
(19,120)
Foreign current tax on profits for the current period
594
89
Total current tax
594
(19,031)
4
Intangible fixed assets
Other
£
Cost
At 1 January 2016 and 31 December 2016
11,300
Amortisation and impairment
At 1 January 2016
7,533
Amortisation charged for the year
3,767
At 31 December 2016
11,300
Carrying amount
At 31 December 2016
-
At 31 December 2015
3,767
SIMON, NATHAN, GAVIN, RICHARD AND RALPH LTD
Simon, Nathan, Gavin, Richard and Ralph Ltd
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2016
- 6 -
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2016 and 31 December 2016
759
Depreciation and impairment
At 1 January 2016
391
Depreciation charged in the year
253
At 31 December 2016
644
Carrying amount
At 31 December 2016
115
At 31 December 2015
368
SIMON, NATHAN, GAVIN, RICHARD AND RALPH LTD
Simon, Nathan, Gavin, Richard and Ralph Ltd
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2016
- 7 -
6
Fixed asset investments
£
Cost or valuation
At 1 January 2016 & 31 December 2016
832,485
Impairment
At 1 January 2016
416,243
Impairment losses
277,495
At 31 December 2016
693,738
Carrying amount
At 31 December 2016
138,747
At 31 December 2015
416,242
7
Debtors
2016
2015
Amounts falling due within one year:
£
£
Other debtors
37,904
167,903
37,904
167,903
8
Creditors: amounts falling due within one year
2016
2015
£
£
Corporation tax
99
99
Other creditors
1,214,675
1,253,251
1,214,774
1,253,350
9
Called up share capital
2016
2015
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
SIMON, NATHAN, GAVIN, RICHARD AND RALPH LTD
Simon, Nathan, Gavin, Richard and Ralph Ltd
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2016
- 8 -
10
Related party transactions
During the year the company paid expenses of £8,148 on behalf of a charitable company of which the director K S Fowler is a director. The charity made loan repayments of £28,078 to the company. At the balance sheet date the charity owed the company £8,147 (2015 £28,078).
During the year the company received £46,404 from the liquidator of Mini Partners Limited, a company in which the former director R J Midgley holds a significant interest. At the balance sheet date Mini Partners Limited owed the company £19,481 (2015: £65,885).