Merlin Business Limited
Unaudited Financial Statements
For The Year Ended 31 December 2016
The notes on pages 4 to 5 form part of these financial statements.
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2.
Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
1.3.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.4.
Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
1.5.
Investments
Fixed assets investments are stated at cost less provision for diminution in value.
1.6.
Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
2.
Interest Payable
|
2016 |
|
2015 |
|
£ |
|
£ |
Bank loans and overdrafts |
2,726
|
|
2,051
|
|
|
|
|
|
2,726
|
|
2,051
|
|
|
|
|
3.
Investments
|
Unlisted |
|
£ |
Cost |
As at 1 January 2016
|
859,338
|
|
|
As at 31 December 2016
|
859,338
|
|
|
Provision |
As at 1 January 2016
|
-
|
|
|
As at 31 December 2016
|
-
|
|
|
Net Book Value |
As at 31 December 2016
|
859,338
|
|
|
As at 1 January 2016
|
859,338
|
|
|
The investments represent film rights in a collection of films.
Page 4
4.
Debtors
|
2016 |
|
2015 |
|
£ |
|
£ |
Due within one year |
Other debtors |
474
|
|
3,378
|
|
|
|
|
|
474
|
|
3,378
|
|
|
|
|
5.
Creditors: Amounts Falling Due Within One Year
|
2016 |
|
2015 |
|
£ |
|
£ |
Accruals and deferred income |
3,400
|
|
4,249
|
Amounts owed to related parties |
1,313,123
|
|
1,143,307
|
|
|
|
|
|
1,316,523
|
|
1,147,556
|
|
|
|
|
6.
Share Capital
|
Value |
Number |
2016 |
|
2015 |
Allotted, called up and fully paid |
£ |
|
£ |
|
£ |
Ordinary shares
|
1.000
|
1000
|
1,000
|
|
1,000
|
|
|
|
|
|
|
|
8.
Ultimate Controlling Party
The company's ultimate controlling party is Mr Jean Pierre Maurice Jacques Gibrat by virtue of his ownership of 100% of the issued share capital in the company.