Francologie Ltd |
Notes to the Accounts |
for the year ended 30 April 2021 |
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1 |
Accounting policies |
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Basis of preparation |
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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). |
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Turnover |
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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. |
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Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
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Debtors |
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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. |
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Creditors |
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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. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. |
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Foreign currency translation |
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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. |
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2 |
Employees |
2021 |
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2020 |
Number |
Number |
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Average number of persons employed by the company |
1 |
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- |
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3 |
Intangible fixed assets |
£ |
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Film and script rights: |
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Cost |
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At 1 May 2020 |
89,078 |
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Additions |
59,516 |
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At 30 April 2021 |
148,594 |
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Amortisation |
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At 1 May 2020 |
37,192 |
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Provided during the year |
25,507 |
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At 30 April 2021 |
62,699 |
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Net book value |
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At 30 April 2021 |
85,895 |
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At 30 April 2020 |
51,886 |
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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: |
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£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. |
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£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. |
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£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. |
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£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. |
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4 |
Debtors |
2021 |
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2020 |
£ |
£ |
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Trade debtors |
25,663 |
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1,970 |
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Other debtors |
2 |
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(1,026) |
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25,665 |
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944 |
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5 |
Creditors: amounts falling due within one year |
2021 |
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2020 |
£ |
£ |
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Bank loans and overdrafts |
30,500 |
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10,812 |
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Trade creditors |
(1,269) |
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(2,336) |
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Corporation tax |
11,061 |
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2,222 |
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Other taxes and social security costs |
3,040 |
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1,072 |
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Other creditors |
31,458 |
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41,570 |
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74,790 |
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53,340 |
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6 |
Other information |
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Francologie Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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20-22 Wenlock Road |
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London |
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N1 7GU |