REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 31 AUGUST 2016 |
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FOR |
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ELEMENTAL FILMS LIMITED |
REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 31 AUGUST 2016 |
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FOR |
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ELEMENTAL FILMS LIMITED |
ELEMENTAL FILMS LIMITED (REGISTERED NUMBER: 03123243) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 AUGUST 2016 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 3 |
ELEMENTAL FILMS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 AUGUST 2016 |
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DIRECTORS: |
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SECRETARY: | Owen Miles Thomas |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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BANKERS: |
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ELEMENTAL FILMS LIMITED (REGISTERED NUMBER: 03123243) |
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ABBREVIATED BALANCE SHEET |
31 AUGUST 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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Investments | 3 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 4 |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
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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The financial statements were approved by the Board of Directors on
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ELEMENTAL FILMS LIMITED (REGISTERED NUMBER: 03123243) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 AUGUST 2016 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
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Tangible fixed assets |
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Fixtures and equipment | - |
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Deferred tax |
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains |
and losses in the financial statements and their recognition for tax purposes. Deferred taxation is calculated on |
an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences |
will reverse. |
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Film development and production |
Film development and production expenditure are written off to the profit and loss account in the year in which |
the related income is earned. Where there is a reasonable certainty of future material income, then the |
expenditure is deferred and amortised over the period during which the company is expected to benefit. |
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Grants receivable |
Grants received in respect of expenditure charged to the profit and loss account during the year have been |
included in profit and loss. |
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Investments |
Fixed asset investments are stated at cost less amounts written off for permanent diminution in value. |
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The company's subsidiary has not been consolidated. Group accounts have not been prepared and these |
financial statements present information about the company as an individual undertaking. Group accounts are |
not required because of the disclosure exemptions available under Section 398 of the Companies Act 2006 for |
small and medium-sized groups. |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 September 2015 |
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Additions |
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At 31 August 2016 |
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DEPRECIATION |
At 1 September 2015 |
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Charge for year |
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At 31 August 2016 |
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NET BOOK VALUE |
At 31 August 2016 |
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At 31 August 2015 |
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ELEMENTAL FILMS LIMITED (REGISTERED NUMBER: 03123243) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2016 |
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3. | FIXED ASSET INVESTMENTS |
Investments |
other |
than |
loans |
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COST |
At 1 September 2015 |
and 31 August 2016 | 2 |
NET BOOK VALUE |
At 31 August 2016 |
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At 31 August 2015 |
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The company's investments at the Balance Sheet date in the share capital of companies include the following: |
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Country of incorporation: Scotland |
Nature of business:
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Class of shares: | holding |
Ordinary | 100.00 |
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£ | £ |
Aggregate capital and reserves | (646,678 | ) | (593,003 | ) |
Loss for the year | (53,675 | ) | (53,559 | ) |
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | £1 |
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5. | RELATED PARTY DISCLOSURES |
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Throughout the year ended 31 August 2016 the company was under the immediate and ultimate control of |
directors May Miles Thomas and Owen Miles Thomas. At 31 August 2016 Elemental Films Limited owed a |
total of £142,422 to May and Owen Miles Thomas (2015 : £97,397). At 31 August 2016 the company was |
owed £122,323 by its subsidiary, Solid Air Film Limited (2015 : £122,310). These loans are unsecured, |
interest-free and have no fixed terms for repayment. It is the policy of the company to negotiate all related party |
transactions on an arm's-length basis. |