Company registration number 13053482 (England and Wales)
VOICE FILMS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022
PAGES FOR FILING WITH REGISTRAR
VOICE FILMS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
VOICE FILMS LIMITED
BALANCE SHEET
AS AT 31 JULY 2022
31 July 2022
- 1 -
2022
2021
Notes
£
£
£
£
Current assets
Debtors
3
2,427,099
1
Cash at bank and in hand
34,334
571
2,461,433
572
Creditors: amounts falling due within one year
4
(1,915,107)
(2,400)
Net current assets/(liabilities)
546,326
(1,828)
Capital and reserves
Called up share capital
5
1
1
Profit and loss reserves
546,325
(1,829)
Total equity
546,326
(1,828)

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 July 2022 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 member has 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 by the board of directors and authorised for issue on 2 September 2022 and are signed on its behalf by:
Kalyani Devi
Director
Company Registration No. 13053482
VOICE FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022
- 2 -
1
Accounting policies
Company information

Voice Films Limited is a private company limited by shares incorporated in England and Wales. The registered office is Office Suite 27, Winsor & Newton Building, Whitefriars Avenue, Harrow, HA3 5RN.

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

The Company has produced the film "Honey Bunny" (the Film). The turnover recognised by the Company relates only to this Film. Turnover represents assignment advances from the acquiring and financing commissioner and its associates in relation to the Film's production.

1.4
Stocks

Production cost of the Film at balance sheet date was carried forward on the basis that it is deemed recoverable from future revenue of the Film and during the current period, it has been transferred to cost of sales. Film production costs incurred in production of the Film are recognised in the P&L account as cost of sales in the period in which they are incurred.

 

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

VOICE FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2022
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

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.

 

 

1.7
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.

1.8
Taxation

The current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. The tax credit claimed relates to the Film. Deferred tax asset based on timing differences is not applicable in respect of this Company's claim for film tax credit.

 

 

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

VOICE FILMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2022
- 4 -
2
Employees

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

2022
2021
Number
Number
Total
8
1
3
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
2,427,099
1
4
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
1,550,587
-
0
Other creditors
364,520
2,400
1,915,107
2,400
5
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
Ordinary share of £1 each
1
1
1
1
2022-07-312021-08-01false02 September 2022CCH SoftwareCCH Accounts Production 2022.100No description of principal activityAnkit GautamKalyani Devi130534822021-08-012022-07-31130534822022-07-31130534822021-07-3113053482core:CurrentFinancialInstrumentscore:WithinOneYear2022-07-3113053482core:CurrentFinancialInstrumentscore:WithinOneYear2021-07-3113053482core:CurrentFinancialInstruments2022-07-3113053482core:CurrentFinancialInstruments2021-07-3113053482core:ShareCapital2022-07-3113053482core:ShareCapital2021-07-3113053482core:RetainedEarningsAccumulatedLosses2022-07-3113053482core:RetainedEarningsAccumulatedLosses2021-07-3113053482bus:Director22021-08-012022-07-31130534822020-12-012021-07-3113053482core:WithinOneYear2022-07-3113053482core:WithinOneYear2021-07-3113053482bus:PrivateLimitedCompanyLtd2021-08-012022-07-3113053482bus:SmallCompaniesRegimeForAccounts2021-08-012022-07-3113053482bus:FRS1022021-08-012022-07-3113053482bus:AuditExemptWithAccountantsReport2021-08-012022-07-3113053482bus:Director12021-08-012022-07-3113053482bus:FullAccounts2021-08-012022-07-31xbrli:purexbrli:sharesiso4217:GBP