Registered number
10147257
Francologie Ltd
Filleted Accounts
30 April 2021
Francologie Ltd
Registered number: 10147257
Balance Sheet
as at 30 April 2021
Notes 2021 2020
£ £
Fixed assets
Intangible assets 3 85,895 51,886
Current assets
Debtors 4 25,665 944
Cash at bank and in hand 6,812 6,409
32,477 7,353
Creditors: amounts falling due within one year 5 (74,790) (53,340)
Net current liabilities (42,313) (45,987)
Net assets 43,582 5,899
Capital and reserves
Called up share capital 2 2
Profit and loss account 43,580 5,897
Shareholders' funds 43,582 5,899
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Verane Frediani
Director
Approved by the board on 27 August 2022
Francologie Ltd
Notes to the Accounts
for the year ended 30 April 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 1 -
3 Intangible fixed assets £
Film and script rights:
Cost
At 1 May 2020 89,078
Additions 59,516
At 30 April 2021 148,594
Amortisation
At 1 May 2020 37,192
Provided during the year 25,507
At 30 April 2021 62,699
Net book value
At 30 April 2021 85,895
At 30 April 2020 51,886
Film and script rights are amortised once income is first received (usually but not always when the relevant film is delivered and released). To date the following film expenditure has been capitalised:
£21,060 has been capitalised in respect of The Goddesses of Food which was first released in July 2017 and has been amortised on a straight line basis over three years.
£1,549 has been capitalised in respect of Look Back in Angus which was first released in October 2018 and is being amortised on a straight line basis over five years.
£11,091 has been capitalised in respect of Wagyu Confidential which was first released in October 2018 and is being amortised on a straight line basis over five years.
£114,894 has been capitalised in respect of Mauro which started generating income in November 2019 and is being amortised on a straight line basis over five years.
4 Debtors 2021 2020
£ £
Trade debtors 25,663 1,970
Other debtors 2 (1,026)
25,665 944
5 Creditors: amounts falling due within one year 2021 2020
£ £
Bank loans and overdrafts 30,500 10,812
Trade creditors (1,269) (2,336)
Corporation tax 11,061 2,222
Other taxes and social security costs 3,040 1,072
Other creditors 31,458 41,570
74,790 53,340
6 Other information
Francologie Ltd is a private company limited by shares and incorporated in England. Its registered office is:
20-22 Wenlock Road
London
N1 7GU
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