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Registered number: 10786998









THE LAST LAUGH ANIMATION LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2023

 
THE LAST LAUGH ANIMATION LIMITED
REGISTERED NUMBER: 10786998

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
 4 
11,002
11,002

Cash at bank and in hand
  
2
2

  
11,004
11,004

Creditors: amounts falling due within one year
 5 
(19,338)
(19,338)

Net current liabilities
  
 
 
(8,334)
 
 
(8,334)

Total assets less current liabilities
  
(8,334)
(8,334)

  

Net liabilities
  
(8,334)
(8,334)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(8,335)
(8,335)

  
(8,334)
(8,334)


For the year ended 31 May 2023 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 February 2024.



I J Wharton
Director

Page 1

 
THE LAST LAUGH ANIMATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

The Last Laugh Animation Limited is a private company limited by shares and registered in England and Wales. The address of its registered office is 124 Finchley Road, London, NW3 5JS.
The company remained dormant during the year to 31 May 2023. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Going concern

The company is showing net liabilities at the reporting date. In order to continue trading in the future it is dependent on the continued financial support of its director who has confirmed his intention to continue to support the company for the foreseeable future.
 
On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result in the withdrawal of the aforementioned support.

 
2.3

Functional and presentation currency

The Company's functional and presentational currency is GBP, rounded to the nearest £1.

 
2.4

Stock - Production costs

Stock comprises costs incurred in respect of an animated film in the course of production. An impairment provision is made where the anticipated revenue from the production is less than anticipated total costs.

 
2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the reporting date and the
amounts reported for revenues and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those estimates.
Accruals
The company makes an estimate of accruals at the reporting date based on invoices received after the period end date and work undertaken which has not been invoiced based on quotations or estimates of amounts that may be due for payment.

Page 2

 
THE LAST LAUGH ANIMATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

4.


Stocks

2023
2022
£
£

Production costs
11,002
11,002

11,002
11,002



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other creditors
17,826
17,826

Accruals and deferred income
1,512
1,512

19,338
19,338



6.


Related party transactions

At the reporting date, the company owed  £9,176 (2022: £9,176) to I J Wharton, the director. The loan is interest free, unsecured and repayable on demand.
Included in other creditors is an amount of £8,650 (2022: £8,650) that relates to an advance to the company by I J Wharton. Interest has been waived on the loan until the company begins trading again. The loan is unsecured. Included in other creditors is a total of £612 (2022: £612) relating to accrued unpaid interest.
The company has not entered into any other transactions with related parties that are material and that have not been concluded under normal market conditions.

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