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Company Registration No. 09620879 (England and Wales)
Project X Films Ltd Unaudited accounts for the year ended 30 June 2023
Project X Films Ltd Unaudited accounts Contents
Page
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Project X Films Ltd Company Information for the year ended 30 June 2023
Director
Hugo Paice
Company Number
09620879 (England and Wales)
Registered Office
42a Museum St London WC1A 1LT United Kingdom
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Project X Films Ltd Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
88,000 
176,000 
Tangible assets
26,731 
1,196 
114,731 
177,196 
Current assets
Debtors
116,087 
1,803 
Cash at bank and in hand
32,152 
283,148 
148,239 
284,951 
Creditors: amounts falling due within one year
(2,540)
(940)
Net current assets
145,699 
284,011 
Net assets
260,430 
461,207 
Capital and reserves
Called up share capital
800,100 
800,100 
Profit and loss account
(539,670)
(338,893)
Shareholders' funds
260,430 
461,207 
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 5 March 2024 and were signed on its behalf by
Hugo Paice Director Company Registration No. 09620879
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Project X Films Ltd Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
Project X Films Ltd is a private company, limited by shares, registered in England and Wales, registration number 09620879. The registered office is 42a Museum St, London, WC1A 1LT, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
33% Straight line
Computer equipment
25% Straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 July 2022
440,000 
At 30 June 2023
440,000 
Amortisation
At 1 July 2022
264,000 
Charge for the year
88,000 
At 30 June 2023
352,000 
Net book value
At 30 June 2023
88,000 
At 30 June 2022
176,000 
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Project X Films Ltd Notes to the Accounts for the year ended 30 June 2023
5
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 July 2022
- 
36,025 
36,025 
Additions
27,934 
8,496 
36,430 
At 30 June 2023
27,934 
44,521 
72,455 
Depreciation
At 1 July 2022
- 
34,829 
34,829 
Charge for the year
6,983 
3,912 
10,895 
At 30 June 2023
6,983 
38,741 
45,724 
Net book value
At 30 June 2023
20,951 
5,780 
26,731 
At 30 June 2022
- 
1,196 
1,196 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
14,496 
257 
Other debtors
101,591 
1,546 
116,087 
1,803 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Accruals
2,540 
940 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Hugo Paice
Loans to Director
1,546 
100,044 
- 
101,591 
1,546 
100,044 
- 
101,591 
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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