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COMPANY REGISTRATION NUMBER: 05277468
JOYRIDER FILMS LIMITED
Filleted Unaudited Financial Statements
31 December 2021
JOYRIDER FILMS LIMITED
Statement of Financial Position
31 December 2021
2021
2020
Note
£
£
£
Fixed assets
Tangible assets
5
27,030
27,887
Current assets
Debtors
6
4,770
4,895
Cash at bank and in hand
354,970
401,148
---------
---------
359,740
406,043
Creditors: amounts falling due within one year
7
20,775
25,304
---------
---------
Net current assets
338,965
380,739
---------
---------
Total assets less current liabilities
365,995
408,626
---------
---------
Net assets
365,995
408,626
---------
---------
Capital and reserves
Called up share capital
199
199
Share premium account
29,796
29,796
Capital redemption reserve
110
110
Profit and loss account
335,890
378,521
---------
---------
Shareholders funds
365,995
408,626
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
JOYRIDER FILMS LIMITED
Statement of Financial Position (continued)
31 December 2021
These financial statements were approved by the board of directors and authorised for issue on 7 September 2022 , and are signed on behalf of the board by:
S B Friend
Director
JOYRIDER FILMS LIMITED
Notes to the Financial Statements
Year ended 31 December 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Rovington House, 82 Great Eastern Street, London, EC2A 3JF.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings
-
15% reducing balance
Equipment
-
15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2020: 2 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 January 2021
4,668
100,082
104,750
Additions
3,912
3,912
-------
---------
---------
At 31 December 2021
4,668
103,994
108,662
-------
---------
---------
Depreciation
At 1 January 2021
2,365
74,498
76,863
Charge for the year
345
4,424
4,769
-------
---------
---------
At 31 December 2021
2,710
78,922
81,632
-------
---------
---------
Carrying amount
At 31 December 2021
1,958
25,072
27,030
-------
---------
---------
At 31 December 2020
2,303
25,584
27,887
-------
---------
---------
6. Debtors
2021
2020
£
£
Trade debtors
4,770
4,895
-------
-------
7. Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
6,862
636
Accruals and deferred income
3,813
6,104
Corporation tax
4,427
8,857
Social security and other taxes
5,463
9,050
Shares classed as financial liabilities
1
1
Director loan accounts
209
656
--------
--------
20,775
25,304
--------
--------
8. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2021
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
S B Friend
( 656)
447
( 209)
----
----
----
2020
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
S B Friend
( 670)
14
( 656)
----
----
----