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Registered Number: 10704573
England and Wales

 

 

 

LIMBIC CINEMA STUDIO LIMITED


Filleted Unaudited Financial Statements
 


Period of accounts

Start date: 01 May 2022

End date: 30 April 2023
Directors Thomas Buttery
Thomas Newell
Thomas Price
Registered Number 10704573
Registered Office The Old Sorting Office
Eastfield Road
Bristol
BS6 6AA
Accountants Bond & Co Chartered Certified Accountants
66 Gloucester Road
Bishopston
Bristol
BS7 8BH
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 30 April 2023
Principal activities
Principal activity of the company during the financial year was that of motion picture projection.
Directors
The directors who served the company throughout the year were as follows:
Thomas Buttery
Thomas Newell
Thomas Price
Alex Wright
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Thomas Buttery
Director

Date approved: 29 November 2023
2
Report to the directors on the preparation of the unaudited statutory accounts of Limbic Cinema Studio Limited for the year ended 30 April 2023. In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Limbic Cinema Studio Limited for the year ended 30 April 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/. This report is made solely to the Board of Directors of Limbic Cinema Studio Limited, as a body, in accordance with the terms of our engagement letter dated 08 October 2018. Our work has been undertaken solely to prepare for your approval the accounts of Limbic Cinema Studio Limited and state those matters that we have agreed to state to the Board of Directors of Limbic Cinema Studio Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Limbic Cinema Studio Limited and its Board of Directors as a body for our work or for this report. It is your duty to ensure that Limbic Cinema Studio Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Limbic Cinema Studio Limited. You consider that Limbic Cinema Studio Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the accounts of Limbic Cinema Studio Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts 30 April 2023.


Bond & Co Chartered Certified Accountants
66 Gloucester Road
Bishopston
Bristol
BS7 8BH
29 November 2023
3
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 60,815    60,326 
60,815    60,326 
Current assets      
Debtors 4 54,425    9,664 
Cash at bank and in hand 65,756    65,628 
120,181    75,292 
Creditors: amount falling due within one year 5 (52,878)   (24,482)
Net current assets 67,303    50,810 
 
Total assets less current liabilities 128,118    111,136 
Provisions for liabilities 6 (11,555)   (11,462)
Net assets 116,563    99,674 
 

Capital and reserves
     
Called up share capital 4    4 
Profit and loss account 116,559    99,670 
Shareholder's funds 116,563    99,674 
 


For the year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 29 November 2023 and were signed on its behalf by:


-------------------------------
Thomas Buttery
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 May 2021 4  96,305  96,309 
Profit for the year 62,314  62,314 
Total comprehensive income for the year 62,314  62,314 
Dividends (58,949) (58,949)
Total investments by and distributions to owners (58,949) (58,949)
At 30 April 2022 4  99,670  99,674 
At 01 May 2022 4  99,670  99,674 
Profit for the year 72,916  72,916 
Total comprehensive income for the year 72,916  72,916 
Dividends (56,027) (56,027)
Total investments by and distributions to owners (56,027) (56,027)
At 30 April 2023 4  116,559  116,563 
5
General Information
Limbic Cinema Studio Limited is a private company, limited by shares, registered in England and Wales, registration number 10704573, registration address The Old Sorting Office, Eastfield Road, Bristol, BS6 6AA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 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.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
No depreciation charges for the year.
Plant and Machinery 8 Years Straight Line
Computer Equipment 4 to 6 Years Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 4 (2022 : 5).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Computer Equipment   Total
  £   £   £
At 01 May 2022 79,059    27,252    106,311 
Additions 2,982    3,905    6,887 
Disposals    
At 30 April 2023 82,041    31,157    113,198 
Depreciation
At 01 May 2022 40,657    5,328    45,985 
Charge for year 2,790    3,608    6,398 
On disposals    
At 30 April 2023 43,447    8,936    52,383 
Net book values
Closing balance as at 30 April 2023 38,594    22,221    60,815 
Opening balance as at 01 May 2022 38,402    21,924    60,326 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 34,364    7,256 
Prepayments 1,151    1,008 
Other Debtors 18,910    1,400 
54,425    9,664 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 5,370    276 
Corporation Tax 16,891    9,467 
PAYE & Social Security 597    528 
Accrued Expenses 800    750 
Other Creditors 17,087    1,443 
VAT 12,133    12,018 
52,878    24,482 

6.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 11,555    11,462 
11,555    11,462 

6