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COMPANY REGISTRATION NUMBER: 14186760
Frankenstein The Legacy Limited
Filleted Unaudited Abridged Financial Statements
30 November 2023
Frankenstein The Legacy Limited
Abridged Financial Statements
Year ended 30th November 2023
Contents
Page
Report to the board of directors on the preparation of the unaudited statutory abridged financial statements
1
Abridged statement of financial position
2
Notes to the abridged financial statements
4
Frankenstein The Legacy Limited
Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of Frankenstein The Legacy Limited
Year ended 30th November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of Frankenstein The Legacy Limited for the year ended 30th November 2023, which comprise the abridged statement of financial position and the related notes from the company's 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 www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
JAY & JAY PARTNERSHIP LIMITED Chartered Certified Accountants
2 Chesterfield Buildings Westbourne Place Clifton Bristol BS8 1RU
12 April 2024
Frankenstein The Legacy Limited
Abridged Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
Current assets
Debtors
6,737
179,939
Cash at bank and in hand
4
1,036
-------
---------
6,741
180,975
Creditors: amounts falling due within one year
573,913
662,430
---------
---------
Net current liabilities
567,172
481,455
---------
---------
Total assets less current liabilities
( 567,172)
( 481,455)
---------
---------
Net liabilities
( 567,172)
( 481,455)
---------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 567,174)
( 481,457)
---------
---------
Shareholders deficit
( 567,172)
( 481,455)
---------
---------
These abridged 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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30th November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of financial position for the year ending 30th November 2023 in accordance with Section 444(2A) of the Companies Act 2006.
Frankenstein The Legacy Limited
Abridged Statement of Financial Position (continued)
30 November 2023
These abridged financial statements were approved by the board of directors and authorised for issue on 12 April 2024 , and are signed on behalf of the board by:
Mr M Winter
Director
Company registration number: 14186760
Frankenstein The Legacy Limited
Notes to the Abridged Financial Statements
Year ended 30th November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Chesterfield Buildings, Westbourne Place, Clifton, Bristol, BS8 1RU.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the going concern basis. This basis may not be appropriate because the company had net liabilities at 30th November 2023. The future of the company is dependent upon the continued support of the company's creditors. The accounts do not include any provisions for liabilities that may arise if the creditors' support is withdrawn.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 10 ).
5. Secured creditors
Creditors : amounts falling due within one year include a loan of £300,000 which is secured by a fixed and floating charge on the assets of the company.
6. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr M Winter
( 83)
( 671)
750
( 4)
Ms M Gergelova
( 2,904)
2,839
( 65)
-------
----
-------
----
( 2,987)
( 671)
3,589
( 69)
-------
----
-------
----
2022
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr M Winter
2,527
( 2,610)
( 83)
Ms M Gergelova
3,146
( 6,050)
( 2,904)
----
-------
-------
-------
5,673
( 8,660)
( 2,987)
----
-------
-------
-------
7. Related party transactions
The directors, Mr M. Winter, and Ms M. Gergelova, are directors and shareholders of M and M Film Productions Ltd. As at 30 November 2023, Frankenstein The Legacy Ltd owed M and M Film Productions Ltd £102,426 (30 November 2022 - £241,061). This loan is interest free and repayable on demand.