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Registered number: 12195367
Lumiere Films ltd.
Unaudited Financial Statements
For The Year Ended 30 September 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12195367
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 10,740 -
Tangible Assets 5 10,603 11,823
21,343 11,823
CURRENT ASSETS
Debtors 6 28,029 9,110
Cash at bank and in hand 41,548 25,974
69,577 35,084
Creditors: Amounts Falling Due Within One Year 7 (42,286 ) (14,595 )
NET CURRENT ASSETS (LIABILITIES) 27,291 20,489
TOTAL ASSETS LESS CURRENT LIABILITIES 48,634 32,312
Creditors: Amounts Falling Due After More Than One Year 8 (28,059 ) (32,310 )
NET ASSETS 20,575 2
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 20,573 -
SHAREHOLDERS' FUNDS 20,575 2
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For the year ending 30 September 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Hristiyan Demerdzhiev
Director
19/01/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Lumiere Films ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 12195367 . The registered office is 85 Waterloo Road, Wokingham, London, RG40 2JG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
2.2. Going Concern Disclosure
At the time of approving the financial statements , the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
2.3. 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  rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are website development. It is amortised to profit and loss account over its estimated economic life of 3 years.
2.5. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised over their expected useful economic lives.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
2.6. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery Straight Line Basis over 3 years
Fixtures & Fittings Straight Line Basis over 3 years
Computer Equipment Straight Line Basis over 3 years
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.8. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss.
2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 1)
2 1
4. Intangible Assets
Development Costs
£
Cost
As at 1 October 2022 -
Additions 13,425
As at 30 September 2023 13,425
Amortisation
As at 1 October 2022 -
Provided during the period 2,685
As at 30 September 2023 2,685
Net Book Value
As at 30 September 2023 10,740
As at 1 October 2022 -
Other intangible assets refers to the website development.
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 October 2022 16,970 - 5,045 22,015
Additions 3,584 666 2,373 6,623
As at 30 September 2023 20,554 666 7,418 28,638
Depreciation
As at 1 October 2022 7,055 - 3,137 10,192
Provided during the period 5,223 222 2,398 7,843
As at 30 September 2023 12,278 222 5,535 18,035
Net Book Value
As at 30 September 2023 8,276 444 1,883 10,603
As at 1 October 2022 9,915 - 1,908 11,823
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6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 28,029 5,733
VAT - 451
Director's loan account - 2,926
28,029 9,110
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 2,785 4,948
Bank loans and overdrafts 9,401 8,097
Corporation tax 14,691 318
Other taxes and social security 489 1,072
VAT 9,876 -
Net wages 1,995 -
Other creditors 65 160
Director's loan account 2,984 -
42,286 14,595
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 28,059 32,310
28,059 32,310
Bank loan is secured.
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
10. Dividends
2023 2022
£ £
On equity shares:
Final dividend paid 48,572 13,963
48,572 13,963
During the year company has paid dividend of £24,286 (2022: £6,982) to the director Mr Hristiyan Demerdzhiev in respect of shares held by him.
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