Registered number
07064924
Citizen Films Limited
Filleted Accounts
30 November 2022
Citizen Films Limited
Registered number: 07064924
Balance Sheet
as at 30 November 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 21,686 28,072
Current assets
Debtors 4 29,250 63,857
Cash at bank and in hand 340,377 301,330
369,627 365,187
Creditors: amounts falling due within one year 5 (120,352) (171,424)
Net current assets 249,275 193,763
Total assets less current liabilities 270,961 221,835
Creditors: amounts falling due after more than one year 6 (56,194) (68,665)
Provisions for liabilities (4,120) (5,350)
Net assets 210,647 147,820
Capital and reserves
Called up share capital 100 100
Profit and loss account 210,547 147,720
Shareholder's funds 210,647 147,820
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 her 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.
G Shoring
Director
Approved by the board on 25 August 2023
Citizen Films Limited
Notes to the Accounts
for the year ended 30 November 2022
1 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
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Motor vehicle 25% reducing balance
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
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2021 43,649 26,000 69,649
Additions 842 - 842
At 30 November 2022 44,491 26,000 70,491
Depreciation
At 1 December 2021 35,077 6,500 41,577
Charge for the year 2,353 4,875 7,228
At 30 November 2022 37,430 11,375 48,805
Net book value
At 30 November 2022 7,061 14,625 21,686
At 30 November 2021 8,572 19,500 28,072
4 Debtors 2022 2021
£ £
Trade debtors 11,299 47,347
Other debtors 17,951 16,510
29,250 63,857
5 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 49,590 76,341
Taxation and social security costs 67,741 38,887
Other creditors 3,021 56,196
120,352 171,424
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 38,684 47,765
Obligations under finance lease and hire purchase contracts 17,510 20,900
56,194 68,665
7 Other information
Citizen Films Limited is a private company limited by shares and incorporated in England. Its registered office is:
5a Marlborough Road
Chiswick
London
W4 4EU
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