Sequoia Films Limited
Registered number: 04563205
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,193 3,091
Current assets
Debtors 4 276 51
Cash at bank and in hand 1,771 1,697
2,047 1,748
Creditors: amounts falling due within one year 5 (113,492) (109,118)
Net current liabilities (111,445) (107,370)
Total assets less current liabilities (108,252) (104,279)
Creditors: amounts falling due after more than one year 6 (66,013) (66,013)
Net liabilities (174,265) (170,292)
Capital and reserves
Called up share capital 2 2
Profit and loss account (174,267) (170,294)
Shareholder's funds (174,265) (170,292)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
S M Sudbury
Director
Approved by the board on 29 July 2024
Sequoia Films Limited
Notes to the Accounts
for the year ended 30 June 2024
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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:
Fixtures, fittings, tools and equipment 15% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
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.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Fixtures, fittings and equipment
£
Cost
At 1 July 2023 21,375
Additions 666
At 30 June 2024 22,041
Depreciation
At 1 July 2023 18,284
Charge for the year 564
At 30 June 2024 18,848
Net book value
At 30 June 2024 3,193
At 30 June 2023 3,091
4 Debtors 2024 2023
£ £
Other debtors 276 51
5 Creditors: amounts falling due within one year 2024 2023
£ £
Directors' current account 113,312 108,938
Other creditors and accruals 180 180
113,492 109,118
6 Creditors: amounts falling due after one year 2024 2023
£ £
Private loans 66,013 66,013
7 Other information
Sequoia Films Limited is a private company limited by shares and incorporated in England. Its registered office is:
Overseas House
19-23 Ironmonger Road
London
EC1V 3QN
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