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REGISTERED NUMBER: 05171156 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

CHOCOLATE FILMS LIMITED

CHOCOLATE FILMS LIMITED (REGISTERED NUMBER: 05171156)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CHOCOLATE FILMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: R A Currie
M S Currie





SECRETARY: R A Currie





REGISTERED OFFICE: Nine Elms Studio
66 Ponton Road
Nine Elms
London
SW11 7BA





REGISTERED NUMBER: 05171156 (England and Wales)





ACCOUNTANTS: Williams Giles Professional Services Ltd
12 Conqueror Court
Sittingbourne
Kent
ME10 5BH

CHOCOLATE FILMS LIMITED (REGISTERED NUMBER: 05171156)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 503,162 520,542

CURRENT ASSETS
Debtors 5 332,375 418,851
Cash at bank 11,409 211,821
343,784 630,672
CREDITORS
Amounts falling due within one year 6 433,867 654,975
NET CURRENT LIABILITIES (90,083 ) (24,303 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

413,079

496,239

CREDITORS
Amounts falling due after more than one
year

7

(267,116

)

(392,044

)

PROVISIONS FOR LIABILITIES (106,276 ) (162,085 )
NET ASSETS/(LIABILITIES) 39,687 (57,890 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 39,685 (57,892 )
SHAREHOLDERS' FUNDS 39,687 (57,890 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

CHOCOLATE FILMS LIMITED (REGISTERED NUMBER: 05171156)

BALANCE SHEET - continued
31 AUGUST 2023


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 21 November 2023 and were signed on its behalf by:





R A Currie - Director


CHOCOLATE FILMS LIMITED (REGISTERED NUMBER: 05171156)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1. STATUTORY INFORMATION

Chocolate Films 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.

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.

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

Turnover from the rendering of photography and film services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Financial instruments
Financial assets - trade and other debtors are basic financial instruments and debt instruments measured at fair value through the Income Statement and are measured subsequently at amortised cost. Prepayments are not financial instruments.

Cash comprises cash at bank, in hand and short term deposits with an original maturity date of three months or less. Cash at bank is measured at face value.

Financial liabilities - trade creditors and other creditors are measured initially at fair value through the Income Statement and are measured subsequently at amortised cost.

Finance costs are charged to the Income Statement over the term of the debt using the effective interest rate method so that the amount charged is at a constant rate on the carrying amount. Borrowing costs are not capitalised.

Taxation
Taxation for the year 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.


CHOCOLATE FILMS LIMITED (REGISTERED NUMBER: 05171156)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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 profit or loss in the period to which they relate.

Going concern
The impact of COVID-19 on the company was significant, however as the company has now returned to solvency and maintained an operating profit for the last 2 years, the directors have determined that there are no material uncertainties which cast doubt on the entity's ability to continue as a going concern.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 21 ) .

CHOCOLATE FILMS LIMITED (REGISTERED NUMBER: 05171156)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 September 2022 460,572 73,492 20,197
Additions 42,005 7,282 12,187
Disposals - (11,503 ) (1,555 )
At 31 August 2023 502,577 69,271 30,829
DEPRECIATION
At 1 September 2022 46,057 50,652 9,043
Charge for year 50,257 6,330 4,786
Eliminated on disposal - (8,576 ) (961 )
At 31 August 2023 96,314 48,406 12,868
NET BOOK VALUE
At 31 August 2023 406,263 20,865 17,961
At 31 August 2022 414,515 22,840 11,154

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2022 30,211 172,638 757,110
Additions - 17,120 78,594
Disposals - (3,971 ) (17,029 )
At 31 August 2023 30,211 185,787 818,675
DEPRECIATION
At 1 September 2022 19,766 111,050 236,568
Charge for year 2,612 27,951 91,936
Eliminated on disposal - (3,454 ) (12,991 )
At 31 August 2023 22,378 135,547 315,513
NET BOOK VALUE
At 31 August 2023 7,833 50,240 503,162
At 31 August 2022 10,445 61,588 520,542

CHOCOLATE FILMS LIMITED (REGISTERED NUMBER: 05171156)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST
At 1 September 2022 20,396
Transfer to ownership (20,396 )
At 31 August 2023 -
DEPRECIATION
At 1 September 2022 15,858
Transfer to ownership (15,858 )
At 31 August 2023 -
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 4,538

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 153,392 101,770
Amounts owed by group undertakings - 3,605
Other debtors 178,983 267,851
332,375 373,226

Amounts falling due after more than one year:
Other debtors - 45,625

Aggregate amounts 332,375 418,851

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 75,167 476,387
Amounts owed to group undertakings 86,231 -
Taxation and social security 150,016 52,729
Other creditors 122,453 125,859
433,867 654,975

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 267,116 392,044

CHOCOLATE FILMS LIMITED (REGISTERED NUMBER: 05171156)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 90,000 90,000
Between one and five years 270,000 360,000
360,000 450,000

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2023 and 31 August 2022:

2023 2022
£    £   
R A Currie and M S Currie
Balance outstanding at start of year 132,542 118,530
Amounts advanced 87,113 25,083
Amounts repaid (115,584 ) (11,071 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 104,071 132,542