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REGISTERED NUMBER: 08936268 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

EMU Pictures Limited

EMU Pictures Limited (Registered number: 08936268)






Contents of the Financial Statements
for the year ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


EMU Pictures Limited

Company Information
for the year ended 31 March 2023







DIRECTORS: J D Mooney
W Ullah
M A Elliott





REGISTERED OFFICE: 25 Crescent
Salford
Manchester
Lancashire
M5 4PF





REGISTERED NUMBER: 08936268 (England and Wales)





ACCOUNTANTS: Bennett Brooks & Co Limited
Chartered Accountants
St George's Court
Winnington Avenue
Northwich
Cheshire
CW8 4EE

EMU Pictures Limited (Registered number: 08936268)

Balance Sheet
31 March 2023

2023 2022
Notes £ £
FIXED ASSETS
Intangible assets 4 12,387 16,517
Tangible assets 5 9,279 12,548
21,666 29,065

CURRENT ASSETS
Debtors 6 9,418 283,023
Cash at bank and in hand 65,547 304,861
74,965 587,884
CREDITORS
Amounts falling due within one year 7 (225,891 ) (329,660 )
NET CURRENT (LIABILITIES)/ASSETS (150,926 ) 258,224
TOTAL ASSETS LESS CURRENT
LIABILITIES

(129,260

)

287,289

CREDITORS
Amounts falling due after more than one year 8 (154,764 ) (297,621 )
NET LIABILITIES (284,024 ) (10,332 )

CAPITAL AND RESERVES
Called up share capital 10 3 3
Retained earnings (284,027 ) (10,335 )
SHAREHOLDERS' FUNDS (284,024 ) (10,332 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by:





J D Mooney - Director


EMU Pictures Limited (Registered number: 08936268)

Notes to the Financial Statements
for the year ended 31 March 2023

1. STATUTORY INFORMATION

EMU Pictures Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has met its day to day working capital requirements through financial support of the directors. The directors are confident that he can continue to support the company and therefore feels that the accounts should be prepared on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The policies adopted for the recognition of turnover are as follows:

Sale of goods
Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Rendering of services
When the outcome of a transaction can be estimated reliably, turnover is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to a notable milestone.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in £2015, is being amortised evenly over its estimated useful life of 10 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
Motor vehicles - Cost less impairment
Computer equipment - 25% straight line
Fixtures and Fittings - 25% straight line

Taxation
Taxation for the yearyear comprises current and deferred tax. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


EMU Pictures Limited (Registered number: 08936268)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.

Share capital
Ordinary shares are classed as equity.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the Income Statement.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, cash held with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 April 2022
and 31 March 2023 41,292
AMORTISATION
At 1 April 2022 24,775
Charge for year 4,130
At 31 March 2023 28,905
NET BOOK VALUE
At 31 March 2023 12,387
At 31 March 2022 16,517

EMU Pictures Limited (Registered number: 08936268)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 April 2022 13,474
Impairments (3,000 )
At 31 March 2023 10,474
DEPRECIATION
At 1 April 2022 926
Charge for year 269
At 31 March 2023 1,195
NET BOOK VALUE
At 31 March 2023 9,279
At 31 March 2022 12,548

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 650 144,753
Other debtors 8,768 138,270
9,418 283,023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 166,665 142,855
Trade creditors (1 ) 85,694
Taxation and social security 3,300 80,796
Other creditors 55,927 20,315
225,891 329,660

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Bank loans 154,764 297,621

9. SECURED DEBTS

The bank loan is secured by way of a legal charge dated 12 April 2021 in favour of Creative Growth Finance Limited.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
3 Ordinary 1 3 3

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the reporting date the company owed the remaining directors £43,388 (2022: £480) which is repayable on demand and attracts no interest.