Company Registration No. SC272753 (Scotland)
AFICIONADO FILMS LTD.
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
PAGES FOR FILING WITH REGISTRAR
AFICIONADO FILMS LTD.
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
AFICIONADO FILMS LTD.
BALANCE SHEET
AS AT 31 AUGUST 2021
31 August 2021
- 1 -
2021
2020
Notes
£
£
£
£
Current assets
Cash at bank and in hand
18,616
86
Creditors: amounts falling due within one year
4
(21,754)
(29,117)
Net current liabilities
(3,138)
(29,031)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(3,238)
(29,131)
Total equity
(3,138)
(29,031)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 August 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 22 August 2022
A J De Pellette
Director
Company Registration No. SC272753
AFICIONADO FILMS LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
- 2 -
1
Accounting policies
Company information

Aficionado Films Ltd. is a private company limited by shares incorporated in Scotland. The registered office is Titanium 1, King's Inch Place, Renfrew, Renfrewshire, United Kingdom, PA4 8WF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
33% on cost
1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

AFICIONADO FILMS LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2021
1
Accounting policies
(Continued)
- 3 -
1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2021
2020
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and machinery
£
Cost
At 1 September 2020 and 31 August 2021
4,959
Depreciation and impairment
At 1 September 2020 and 31 August 2021
4,959
Carrying amount
At 31 August 2021
-
0
At 31 August 2020
-
0
4
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
2,190
-
0
Taxation and social security
17,805
10,845
Other creditors
1,759
18,272
21,754
29,117
AFICIONADO FILMS LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2021
- 4 -
5
Related party transactions

The following amounts were outstanding at the reporting end date:

2021
2020
Amounts due to related parties
£
£
Key management personnel
-
0
17,236

The above loan is unsecured, interest free and repayable on demand.

2021-08-312020-09-01false22 August 2022CCH SoftwareCCH Accounts Production 2022.100No description of principal activityA J De PelletteP De PelletteSC2727532020-09-012021-08-31SC2727532021-08-31SC2727532020-08-31SC272753core:CurrentFinancialInstrumentscore:WithinOneYear2021-08-31SC272753core:CurrentFinancialInstrumentscore:WithinOneYear2020-08-31SC272753core:CurrentFinancialInstruments2021-08-31SC272753core:CurrentFinancialInstruments2020-08-31SC272753core:ShareCapital2021-08-31SC272753core:ShareCapital2020-08-31SC272753core:RetainedEarningsAccumulatedLosses2021-08-31SC272753core:RetainedEarningsAccumulatedLosses2020-08-31SC272753bus:CompanySecretaryDirector12020-09-012021-08-31SC272753core:ComputerEquipment2020-09-012021-08-31SC2727532019-09-012020-08-31SC272753core:ComputerEquipment2020-08-31SC272753core:ComputerEquipment2021-08-31SC272753core:ComputerEquipment2020-08-31SC272753bus:PrivateLimitedCompanyLtd2020-09-012021-08-31SC272753bus:SmallCompaniesRegimeForAccounts2020-09-012021-08-31SC272753bus:FRS1022020-09-012021-08-31SC272753bus:AuditExemptWithAccountantsReport2020-09-012021-08-31SC272753bus:Director12020-09-012021-08-31SC272753bus:CompanySecretary12020-09-012021-08-31SC272753bus:FullAccounts2020-09-012021-08-31xbrli:purexbrli:sharesiso4217:GBP