Caseware UK (AP4) 2021.0.152 2021.0.152 2022-02-282022-02-28true2021-03-01falseFilm production services22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07517385 2021-03-01 2022-02-28 07517385 2020-03-01 2021-02-28 07517385 2022-02-28 07517385 2021-02-28 07517385 c:Director1 2021-03-01 2022-02-28 07517385 d:OfficeEquipment 2021-03-01 2022-02-28 07517385 d:OfficeEquipment 2022-02-28 07517385 d:OfficeEquipment 2021-02-28 07517385 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-03-01 2022-02-28 07517385 d:CurrentFinancialInstruments 2022-02-28 07517385 d:CurrentFinancialInstruments 2021-02-28 07517385 d:Non-currentFinancialInstruments 2022-02-28 07517385 d:Non-currentFinancialInstruments 2021-02-28 07517385 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 07517385 d:CurrentFinancialInstruments d:WithinOneYear 2021-02-28 07517385 d:Non-currentFinancialInstruments d:AfterOneYear 2022-02-28 07517385 d:Non-currentFinancialInstruments d:AfterOneYear 2021-02-28 07517385 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-02-28 07517385 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-02-28 07517385 d:ShareCapital 2022-02-28 07517385 d:ShareCapital 2021-02-28 07517385 d:RetainedEarningsAccumulatedLosses 2022-02-28 07517385 d:RetainedEarningsAccumulatedLosses 2021-02-28 07517385 c:OrdinaryShareClass1 2021-03-01 2022-02-28 07517385 c:OrdinaryShareClass1 2022-02-28 07517385 c:FRS102 2021-03-01 2022-02-28 07517385 c:AuditExempt-NoAccountantsReport 2021-03-01 2022-02-28 07517385 c:FullAccounts 2021-03-01 2022-02-28 07517385 c:PrivateLimitedCompanyLtd 2021-03-01 2022-02-28 07517385 2 2021-03-01 2022-02-28 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 07517385








CML SETS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022

 
CML SETS LIMITED
 


CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 6


 
CML SETS LIMITED
REGISTERED NUMBER:07517385


STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
814
1,086

Current assets
  

Debtors: amounts falling due within one year
 5 
33,739
30,597

Cash at bank and in hand
  
3,771
6,524

  
37,510
37,121

  

Creditors: amounts falling due within one year
 6 
(24,604)
(20,429)

Net current assets
  
 
 
12,906
 
 
16,692

Total assets less current liabilities
  
13,720
17,778

Creditors: amounts falling due after more than one year
 7 
(13,609)
(17,476)

  

Net assets
  
111
302


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
11
202

  
111
302


Page 1

 
CML SETS LIMITED
REGISTERED NUMBER:07517385

    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 28 FEBRUARY 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S B Bovingdon
Director

Date: 28 August 2022

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
CML SETS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022

1.


General information

CML Sets Limited is a limited liability company incorporated in England and Wales with its registered office at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD. 
The principal activity of the company was that of film production services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of services supplied during the period, exclusive of Value Added Tax and trade discounts.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided on the following basis:

Office equipment
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

 
2.4

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty.

 
2.6

Creditors

Short term creditors are measured at the transaction price.

Page 3

 
CML SETS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022

2.Accounting policies (continued)

 
2.7

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.9

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.10

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.11

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.12

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.13

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Page 4

 
CML SETS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 2).


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 March 2021
7,377



At 28 February 2022

7,377



Depreciation


At 1 March 2021
6,292


Charge for the year on owned assets
271



At 28 February 2022

6,563



Net book value



At 28 February 2022
814



At 28 February 2021
1,086


5.


Debtors

2022
2021
£
£


Trade debtors
6,287
6,727

Other debtors
26,994
22,905

Prepayments and accrued income
458
965

33,739
30,597


Included within other debtors due within one year is a loan to a director, amounting to £26,994 (2021 - £22,905)



Page 5

 
CML SETS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022

6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank loans
3,867
2,525

Trade creditors
2,364
1,488

Other taxation and social security
16,624
14,816

Accruals and deferred income
1,749
1,600

24,604
20,429



7.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
13,609
17,476



8.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£

Amounts falling due within one year

Bank loans
3,867
2,525


Amounts falling due 2-5 years

Bank loans
13,609
17,475


17,476
20,000



9.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1 each
100
100


 
Page 6