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Unaudited Financial Statements for the Year Ended 31 December 2017 |
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Fame Arts Media and Entertainment |
Group Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 December 2017 |
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for |
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Fame Arts Media and Entertainment |
Group Limited |
Fame Arts Media and Entertainment |
Group Limited (Registered number: 08742055) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Fame Arts Media and Entertainment |
Group Limited |
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Company Information |
for the Year Ended 31 December 2017 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
2nd Floor |
Solar House |
915 High Road |
North Finchley |
London |
N12 8QJ |
Fame Arts Media and Entertainment |
Group Limited (Registered number: 08742055) |
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Balance Sheet |
31 December 2017 |
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2017 | 2016 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
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Cash in hand |
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CREDITORS |
Amounts falling due within one year | 5 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 6 | ( |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Retained earnings | 8 | ( |
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SHAREHOLDERS' FUNDS | ( |
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The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
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preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each
financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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Fame Arts Media and Entertainment |
Group Limited (Registered number: 08742055) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2017 |
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1. | STATUTORY INFORMATION |
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Fame Arts Media and Entertainment Group Limited is a
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Wales. The company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The accounts have been prepared on a going concern basis despite the fact that there is an overall deficit of £395,324 (2016 |
£300,060). This basis is deemed to be appropriate as the director is of the opinion that continued support will be forthcoming |
from the company's parent company. |
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Preparation of consolidated financial statements |
The financial statements contain information about Fame Arts Media and Entertainment Group Limited as an individual |
company and do not contain consolidated financial information as the parent of a group. The company is exempt under |
Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its |
subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, , . |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that |
it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively |
enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in |
which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted |
or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be |
recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Foreign currencies |
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 rate of exchange ruling at the date of transaction. |
Exchange differences are taken into account in arriving at the operating result. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Amounts owed by group undertakings |
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Fame Arts Media and Entertainment |
Group Limited (Registered number: 08742055) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Amounts owed to group undertakings |
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Other creditors |
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6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2017 | 2016 |
£ | £ |
Other creditors |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary shares | £1 | 1 | 1 |
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8. | RESERVES |
Retained |
earnings |
£ |
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At 1 January 2017 | ( |
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Deficit for the year | ( |
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At 31 December 2017 | ( |
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9. | RELATED PARTY DISCLOSURES |
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Expenses totalling £720 ( 2016 £13040) were paid on behalf of the company by it's wholly ownded subsidiary |
Fame Music Limited. The amount owed to Fame Music Limited at the year end was £158,858 |
(2016 £158,138) |
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At the end of the year loans of £2,240,601 were owed to the comapny's parent company Fame Group BV. The l;oans are |
repayablein 2024 and bear interest of 4% per annum |
Interest amounting to £94,544 (2016 100,001) has been charged in these accounts. |
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10. | ULTIMATE CONTROLLING PARTY |
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Fame Group SARL (Incorporated in Luxembourg) is regarded by the director as being the company's ultimate parent |
company. |