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Registration number: 09988291

Lux Films Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 28 February 2023

 

Lux Films Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Lux Films Ltd

Company Information

Directors

A J Fowler

G Lowndes

M A Woodhead

Registered office

The Old Church School
Butts Hill
Frome
Somerset
BA11 1HR

Accountants

Burton Sweet Limited
Chartered Accountants and Business Advisers
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

 

Lux Films Ltd

(Registration number: 09988291)
Balance Sheet
28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

48,998

19,408

Current assets

 

Debtors

5

68,712

27,495

Cash at bank and in hand

 

920,704

614,752

 

989,416

642,247

Creditors: Amounts falling due within one year

6

(138,276)

(176,961)

Net current assets

 

851,140

465,286

Net assets

 

900,138

484,694

Capital and reserves

 

Called up share capital

3

3

Retained earnings

900,135

484,691

Shareholders' funds

 

900,138

484,694

 

Lux Films Ltd

(Registration number: 09988291)
Balance Sheet
28 February 2023

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 27 November 2023 and signed on its behalf by:
 

.........................................
A J Fowler
Director

.........................................
G Lowndes
Director

.........................................
M A Woodhead
Director

 

Lux Films Ltd

Notes to the Unaudited Financial Statements
Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Old Church School
Butts Hill
Frome
Somerset
BA11 1HR
United Kingdom

These financial statements were authorised for issue by the Board on 27 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

 

Lux Films Ltd

Notes to the Unaudited Financial Statements
Year Ended 28 February 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation 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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% per annum straight line

Office equipment

25% per annum straghit line

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

 

Lux Films Ltd

Notes to the Unaudited Financial Statements
Year Ended 28 February 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 0).

4

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 March 2022

41,039

37,799

78,838

Additions

32,695

20,736

53,431

At 28 February 2023

73,734

58,535

132,269

Depreciation

At 1 March 2022

24,270

35,160

59,430

Charge for the year

16,791

7,050

23,841

At 28 February 2023

41,061

42,210

83,271

Carrying amount

At 28 February 2023

32,673

16,325

48,998

At 28 February 2022

16,769

2,639

19,408

5

Debtors

 

Lux Films Ltd

Notes to the Unaudited Financial Statements
Year Ended 28 February 2023

2023
£

2022
£

Trade debtors

4,676

25,731

Other debtors

53,765

1

Prepayments

10,271

1,763

68,712

27,495

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

5,672

16,004

Taxation and social security

129,536

154,022

Other creditors

3,068

6,935

138,276

176,961

 

Lux Films Ltd

Notes to the Unaudited Financial Statements
Year Ended 28 February 2023

7

Related party transactions

Transactions with directors

2023

At 1 March 2022
£

Advances to director
£

At 28 February 2023
£

Loan from the company

-

53,751

53,751

 

-

53,751

53,751