Registered number
07673124
Scintilla Films Limited
Filleted Accounts
30 June 2023
Scintilla Films Limited
Registered number: 07673124
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,802 1,652
Current assets
Debtors 4 7,222 -
Cash at bank and in hand 10,586 33,128
17,808 33,128
Creditors: amounts falling due within one year 5 (20,863) (19,185)
Net current (liabilities)/assets (3,055) 13,943
Total assets less current liabilities 747 15,595
Provisions for liabilities (570) (570)
Net assets 177 15,025
Capital and reserves
Called up share capital 110 110
Profit and loss account 67 14,915
Shareholders' funds 177 15,025
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T. Peppiatt
Director
Approved by the board on 14 February 2024
Scintilla Films Limited
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2022 6,621
Additions 3,100
At 30 June 2023 9,721
Depreciation
At 1 July 2022 4,969
Charge for the year 950
At 30 June 2023 5,919
Net book value
At 30 June 2023 3,802
At 30 June 2022 1,652
4 Debtors 2023 2022
£ £
Trade debtors 6,480 -
Other debtors 742 -
7,222 -
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 1,310 975
Taxation and social security costs 19,553 18,094
Other creditors - 116
20,863 19,185
6 Loans to directors
Description and conditions B/fwd Introduced Withdrawn C/fwd
£ £ £ £
T. Peppiatt
Amount due from the director at the balance sheet date (116) - 161 45
(116) - 161 45
7 Related party transactions
Dividends amounting to £60,000 were payable to the directors.
8 Controlling party
The company is controlled by the director and majority shareholder Mr T. Peppiatt.
9 Other information
Scintilla Films Limited is a private company limited by shares and incorporated in England. Its registered office is:
3 The Rookery
Kidlington
Oxfordshire
England
OX5 1AW
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