|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 AUGUST 2018 |
|
FOR |
|
ELEMENTAL FILMS LIMITED |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 AUGUST 2018 |
|
FOR |
|
ELEMENTAL FILMS LIMITED |
ELEMENTAL FILMS LIMITED (REGISTERED NUMBER: 03123243) |
|
|
|
|
|
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2018 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 3 |
|
ELEMENTAL FILMS LIMITED |
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 AUGUST 2018 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
SECRETARY: | Owen Miles Thomas |
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
ACCOUNTANTS: |
|
Chartered Accountants |
3rd Floor, St George's Buildings |
5 St Vincent Place |
Glasgow |
G1 2DH |
|
|
|
BANKERS: |
|
235 Sauchiehall Street |
Glasgow |
G2 3EY |
ELEMENTAL FILMS LIMITED (REGISTERED NUMBER: 03123243) |
|
BALANCE SHEET |
31 AUGUST 2018 |
|
2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
Investments | 5 |
|
|
|
|
|
CURRENT ASSETS |
Debtors | 6 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 7 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CAPITAL AND RESERVES |
Called up share capital | 8 |
|
|
Retained earnings | 9 |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
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. |
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
|
The financial statements were approved by the Board of Directors on
|
|
|
|
|
|
|
|
ELEMENTAL FILMS LIMITED (REGISTERED NUMBER: 03123243) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2018 |
|
1. | STATUTORY INFORMATION |
|
Elemental Films Limited is a
|
company's registered number and registered office address can be found on the Company Information page. |
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
|
Tangible fixed assets |
|
Fixtures and equipment | - |
|
|
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except |
to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
|
Current or deferred taxation assets and liabilities are not discounted. |
|
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. |
|
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
|
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. |
|
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. |
|
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. |
|
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. |
|
Investments |
Fixed asset investments are stated at cost less amounts written off for permanent diminution in value. |
|
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. |
ELEMENTAL FILMS LIMITED (REGISTERED NUMBER: 03123243) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2018 |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
equipment |
£ |
COST |
At 1 September 2017 |
|
Additions |
|
At 31 August 2018 |
|
DEPRECIATION |
At 1 September 2017 |
|
Charge for year |
|
At 31 August 2018 |
|
NET BOOK VALUE |
At 31 August 2018 |
|
At 31 August 2017 |
|
|
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 September 2017 |
and 31 August 2018 |
|
NET BOOK VALUE |
At 31 August 2018 |
|
At 31 August 2017 |
|
|
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
|
|
Registered office: Scotland |
Nature of business:
|
% |
Class of shares: | holding |
|
|
2018 | 2017 |
£ | £ |
Aggregate capital and reserves | ( |
) | ( |
) |
Loss for the year | ( |
) | ( |
) |
ELEMENTAL FILMS LIMITED (REGISTERED NUMBER: 03123243) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2018 |
|
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Amounts due by associated |
companies | 122,336 | 122,336 |
Corporation tax recoverable |
|
|
|
|
|
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Current corporation tax |
|
|
Value added tax payable | 4,605 | 4,905 |
Directors' current accounts | 91,638 | 121,975 |
Accruals and deferred income |
|
|
|
|
|
8. | CALLED UP SHARE CAPITAL |
|
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
|
Ordinary | £1 | 2 | 2 |
|
9. | RESERVES |
Retained |
earnings |
£ |
|
At 1 September 2017 |
|
Profit for the year |
|
Dividends | ( |
) |
At 31 August 2018 |
|
|
10. | RELATED PARTY DISCLOSURES |
|
Throughout the year ended 31 August 2018 the company was under the immediate and ultimate control of |
directors May Miles Thomas and Owen Miles Thomas. At 31 August 2018 Elemental Films Limited owed a |
total of £91,638 to May and Owen Miles Thomas (2017 : £121,975). At 31 August 2018 the company was |
owed £122,336 by its subsidiary, Solid Air Film Limited (2017 : £122,336). 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. |