Registered number
11779287
Looped Films Ltd
Filleted Accounts
31 July 2022
Looped Films Ltd
Registered number: 11779287
Balance Sheet
as at 31 July 2022
Notes 2022 2021
£ £
Current assets
Stocks - 1,968,896
Debtors 4 225,024 100,715
Cash at bank and in hand 3,761 355,622
228,785 2,425,233
Creditors: amounts falling due within one year 5 (1,213,459) (2,479,956)
Net current liabilities (984,674) (54,723)
Net liabilities (984,674) (54,723)
Capital and reserves
Called up share capital 1 1
Profit and loss account (984,675) (54,724)
Shareholder's funds (984,674) (54,723)
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 member has 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.
Sarmad Varraich
Director
Approved by the board on 18 August 2022
Looped Films Ltd
Notes to the Accounts
for the period from 1 January 2022 to 31 July 2022
1 General Information
Looped Films Ltd is a private limited company limited by shares and incorporated in the United Kingdom. Its registered office address is 517, Mappin House, Winsley Street, London W1W8HF
2 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
The Company is in the process of carrying out pre-production activities of 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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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
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.
3 Employees 2022 2021
Number Number
Average number of persons employed by the company 1 1
4 Debtors 2022 2021
£ £
Other debtors 225,024 100,715
5 Creditors: amounts falling due within one year 2022 2021
£ £
Corporate loan 1,117,822 501,714
Bank loans and overdrafts 49,166 49,167
Trade creditors 46,471 131,679
Other creditors - 1,797,396
1,213,459 2,479,956
6 Loans 2022 2021
£ £
Creditors include:
Secured bank loans 49,167 49,167
[The Company had availed BBLS loan from the bank which secured by the Goverment]
7 Other information
Looped Films Ltd is a private company limited by shares and incorporated in England. Its registered office is:
517, Mappin House
London
W1W8HF
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