Company registration number SC239597 (Scotland)
KREO Films Corporation Ltd
Unaudited financial statements
for the year ended 30 November 2023
Pages for filing with registrar
KREO Films Corporation Ltd
Chartered Accountants' report to the board of directors on the preparation of the
unaudited statutory financial statements of KREO Films Corporation Ltd
1
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of KREO Films Corporation Ltd for the year ended 30 November 2023 which comprise, the 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 ICAS we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020.
This report is made solely to the director of KREO Films Corporation Ltd in accordance with the terms of our engagement letter dated 10 December 2014. Our work has been undertaken solely to prepare for your approval the financial statements of KREO Films Corporation Ltd and state those matters that we have agreed to state to the director of KREO Films Corporation Ltd in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/technical-resources/framework-for-the-preparation-of-accounts-revised-january-2017. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than KREO Films Corporation Ltd and its director for our work or for this report.
It is your duty to ensure that KREO Films Corporation Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of KREO Films Corporation Ltd. You consider that KREO Films Corporation Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of KREO Films Corporation Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
James Milne
Chartered Accountants
5 Bon Accord Square
Aberdeen
AB11 6XZ
31 July 2024
KREO Films Corporation Ltd
Statement of financial position
at 30 November 2023
2
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
2
8,720
8,720
Current assets
Cash at bank and in hand
10,906
24,627
Creditors: amounts falling due within one year
(11,068)
(23,060)
Net current (liabilities)/assets
(162)
1,567
Total assets less current liabilities
8,558
10,287
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
8,557
10,286
Total equity
8,558
10,287
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
KREO Films Corporation Ltd
Statement of financial position (continued)
at 30 November 2023
3
The financial statements were approved by the board of directors and authorised for issue on 31 July 2024 and are signed on its behalf by:
Compton Ross
Director
Company Registration No. SC239597
KREO Films Corporation Ltd
Notes to the financial statements
for the year ended 30 November 2023
4
1
Accounting policies
Company information
KREO Films Corporation Ltd is a private company limited by shares incorporated in Scotland. The registered office is Metrol Technology Group, Howe Moss Place, Kirkhill Industrial Estate, Dyce, Aberdeen, AB21 0GS.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit and loss.
1.3
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
8,720
8,720