Company Registration No. 08767842 (England and Wales)
MOOGI ENTERTAINMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2019
PAGES FOR FILING WITH REGISTRAR
MOOGI ENTERTAINMENT LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
MOOGI ENTERTAINMENT LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
30 NOVEMBER 2019
30 November 2019
- 1 -
2019
2018
Notes
£
£
£
£
Current assets
Cash and cash equivalents
324
324
Current liabilities
3
(1,320)
(600)
Net current liabilities
(996)
(276)
Non-current liabilities
4
(5,400)
(10,038)
Net liabilities
(6,396)
(10,314)
Equity
Called up share capital
5
100
100
Retained earnings
(6,496)
(10,414)
Total equity
(6,396)
(10,314)
The directors of the company have elected not to include a copy of the income statement within the financial statements.
true
For the financial year ended 30 November 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 25 November 2020 and are signed on its behalf by:
S J Lawson
Director
Company Registration No. 08767842
MOOGI ENTERTAINMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2019
- 2 -
1
Accounting policies
Company information
Moogi Entertainment Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
First Floor, Thavies Inn House, 3-4 Holborn Circus, London, EC1N 2HA.
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
.
The principal accounting policies adopted are set out below.
1.2
Going concern
The financial statements have been prepared on a going concern basis which is considered appropriate due to the financial support of the parent company, Animatrix Limited.
1.3
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include deposits held at call with banks.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised
cost.
Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
MOOGI ENTERTAINMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2019
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities
Basic financial liabilities, including trade and other payables,
and
loans from
fellow group companies
are initially recognised at transaction
price.
Financial liabilities classified as payable within one year are not amortised.
Trade payables
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities. Trade payables are recognised initially at transaction price
and subsequently measured at amortised cost
.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 3 (2018 - 3
).
3
Current liabilities
2019
2018
£
£
Other payables
1,320
600
4
Non-current liabilities
2019
2018
£
£
Amounts owed to parent company
5,400
10,038
MOOGI ENTERTAINMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2019
- 4 -
5
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
100
100